Discussing the ongoing drilling at South Grass Valley, NGE�s CEO, Wade Hodges: �We�re happy to report that drilling is going smoothly at the Project. Obviously, we had hoped that SGV001 would have gone directly into the lower plate, but we�ll head back to the southern fence and complete another hole further to the east later in the program. In the meantime, at the north end, SGV002 is going very well. Right from the top of bedrock at SGV002, it looks like we�re into a major fault zone cutting through lower-plate carbonates that have experienced considerable hydrothermal activity, clearly marked within at least a 200-metre interval exhibiting decalcification, clay, multiple sequences of calcite veining and brecciation, and silicification, as well as intense oxidation. These geologic markers and their intensity over such a thick interval are consistent with those that characterize the hydrothermal systems associated with large CTGDs, and these samples now provide a thick sequence of bedrock to test for the pathfinders that define CTGD footprints. It�s also great to see that the projected intersection at SGV002 of shallow favourable carbonates and the N-S structural corridor has been confirmed as it builds additional confidence in our geophysical interpretations across the rest of the Project.
�We know that CTGDs are the product of specific and characteristic critical geologic components, namely favourable: structures, host rocks, zones of permeability, alteration, and geochemistry. If there is a large CTGD at South Grass Valley, we would expect to see multiple, independent lines of evidence for the presence of these critical components. If we�re as close as we think we could be with our target at South Grass Valley, the surrounding country rocks should also contain the right types of rocks and alteration, which they do; likewise, if there is indeed the required major structural zone to have sourced mineralized hydrothermal fluids, we should see a suggestion of it in the geophysics, which we do; and now that we�re drilling, if our projections of favourable host rocks and structures are correct, we should see thick intervals of altered lower-plate carbonates, which we now have. The next box we need to check is whether this system contains suitably enriched concentrations of pathfinder elements consistent with a large CTGD. In summary, we�re very pleased with the results we�re seeing; we�re drilling into the types of rocks we had hoped to encounter; we�re getting important information to continue to refine our exploration model; we�re looking forward to being able to review the pathfinder element concentrations when assays become available; and we�re certainly excited to keep drilling.�
Upcoming Events
NGE is pleased to welcome its stakeholders to visit with its team at the following upcoming events:
Silver and Gold Summit (San Francisco)
Sunday & Monday, October 28th to 29th, 2018
https://cambridgehouse.com/e/silver-and-gold-summit-2018-75
JOIN NEVADA EXPLORATION FOR BREAKFAST TO OPEN THE CONFERENCE: https://investor.nevadaexploration.com/silver-gold-summit/
Mines and Money (London)
Monday to Thursday, November 26th to 29th, 2018
https://london.minesandmoney.com/
American Exploration & Mining Association (Spokane)
Monday to Friday, December 3rd to 7th, 2018
https://www.miningamerica.org/2018-annual-meeting/
Vancouver Resource Investment Conference (Vancouver)
Sunday and Monday, January 20th and 21st, 2019
https://cambridgehouse.com/e/vancouver-resource-investment-conference-2019-76
PDAC (Toronto)
Sunday to Wednesday, March 3rd to 6th, 2019
https://www.pdac.ca/convention
About Nevada Exploration Inc.
NGE is an exploration company advancing a portfolio of new district-scale gold exploration projects along Nevada�s Battle Mountain-Eureka (Cortez) Trend. NGE is led by an experienced management team that has been involved in several significant discoveries in Nevada, including the discovery of Lone Tree and Rabbit Creek (part of the Twin Creeks Mine). NGE�s team has spent the last decade integrating the use of hydrogeochemistry with conventional exploration tools to develop a Nevada-specific regional-scale geochemistry exploration program.
With new proprietary technology, NGE has completed the world�s largest groundwater sampling program for gold exploration, collecting approximately 6,000 samples to evaluate Nevada�s covered basins for new gold exploration targets. To advance follow-up targets, NGE has overcome the high drilling costs that have previously prohibited the wide-spread use of drilling as a prospecting tool by developing its Scorpion drill rig, a small-footprint, truck-mounted, small-diameter RC drill rig specifically tailored to the drilling conditions in Nevada�s basins (analogous to RAB drilling in other parts of the world).
By integrating hydrogeochemistry and early-stage low-cost drilling with conventional exploration methods, NGE is overcoming the challenges and radically reducing the costs of exploring in Nevada�s covered basins, and is taking significant steps to open this important new search space up for district-scale exploration.
For further information, please contact:
Nevada Exploration Inc.
Email: info@nevadaexploration.com
Telephone: +1 (604) 601 2006
Website: www.nevadaexploration.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Wade A. Hodges, CEO & Director, Nevada Exploration Inc., is the Qualified Person, as defined in National Instrument 43-101, and has prepared the technical and scientific information contained in this News Release.
Cautionary Statement on Forward-Looking Information:
This news release contains �forward-looking information� and �forward-looking statements� (collectively, �forward-looking information�) within the meaning of applicable securities laws, including, without limitation, expectations, beliefs, plans, and objectives regarding projects, potential transactions, and ventures discussed in this release.
In connection with the forward-looking information contained in this news release, the Company has made numerous assumptions, regarding, among other things, the assumption the Company will continue as a going concern and will continue to be able to access the capital required to advance its projects and continue operations. While the Company considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies.
In addition, there are known and unknown risk factors which could cause the Company�s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are the risks inherent in mineral exploration, the need to obtain additional financing, environmental permits, the availability of needed personnel and equipment for exploration and development, fluctuations in the price of minerals, and general economic conditions.
A more complete discussion of the risks and uncertainties facing the Company is disclosed in the Company�s continuous disclosure filings with Canadian securities regulatory authorities at www.sedar.com. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
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