New Placer Dome Gold Corp. [NGLD-TSXV; NPDCF-OTCQB; BM5-FSE] reported assay results for the initial nine reverse circulation (RC) drill holes completed during 2020 at its flagship Kinsley Mountain gold project in mining-friendly Nevada.
New Placer Dome, operator, holds a 79.99% interest in the Kinsley Mountain joint venture with Nevada Sunrise Gold Corp. [NEV-TSXV; NVSGF-OTC] holding a 20.01% interest.
Eight of the nine drill holes had significant gold intercepts and have the potential to increase mineral resources in several different zones.
The recently completed 2020 Kinsley Mountain RC and diamond drill campaign comprised 49 drill holes totalling 17,970 metres (39 RC holes for 13,610 metres and 10 diamond drill holes for 4,360 metres), and tested five target areas within the greater resource area. Assay results from the remaining 40 holes are still pending. Drill holes were selected to test extensions to existing resource areas as well as undrilled, high-conviction targets.
Highlights include 2.63 g/t gold (sulphide) over 38.10 metres, including 10.22 g/t gold (sulphide) over 6.10 metres in KMR20-017; 3.38 g/t gold (oxide) over 21.34 metres, including 5.78 g/t gold over 6.10 metres in KMR20-016; 5.15 g/t gold (oxide) over 10.67 metres in KMR20-004; 4.83 g/t gold (sulphide) over 6.10 metres and 1.74 g/t gold (sulphide) over 7.62 metres in KMR20-008 and 1.15 g/t gold (sulphide) over 6.10 metres in KMR20-007.
Max Sali, CEO and founder of New Placer Dome, commented: â€œWe are extremely encouraged by the results from the initial nine Kinsley drill holes, which reinforce the exceptional exploration potential of the Kinsley Mountain Project. With an existing resource including 302,000 high-grade indicated ounces of gold grading 6.11 g/t at the Western Flank Zone, and high-grade gold in our new holes on the margins of the deposit, we look forward to the potential of resource growth driven by the results of the remaining 40 drill holes, which targeted proven and new areas at Kinsley. With the 2020 drilling program now complete and analysis of most samples now under way at the laboratory we look forward to continued news flow in the months ahead.â€