New Placer Dome has announced an expansion of its drilling program at the Bolo gold-silver project located in Nevada. This decision comes in light of encouraging initial results, particularly the identification of arsenic in drill samples, which are considered positive early signs for mineralization.
Recent qualitative analysis using handheld portable X-ray fluorescence (XRF) technology confirmed the presence of pathfinder elements within the drill samples. These elements are crucial indicators that suggest the potential for gold-silver mineralization, reinforcing the rationale behind the decision to extend the original drilling plan from 3,500 metres.
The expanded drilling aims to connect mineralization between the South Mine Fault and Uncle Sam zones while also exploring new opportunities beneath existing mineral deposits. Drill chip samples from the first five completed holes have been sent to ALS Global for further geochemical analysis and gold fire assay testing.
In addition to activities at Bolo, New Placer Dome has made strides at its Kinsley Mountain project, having completed over 1,500 metres of drilling across six reverse circulation (RC) holes. This initial drilling phase targets the high-grade Western Flank Gold Zone and has already produced visuals of pyrite mineralized shale, reminiscent of historically significant mineral intersections.
The drilling pace at Kinsley Mountain is expected to accelerate with the addition of a diamond core rig, alongside plans to mobilize a larger truck-mounted RC drill rig soon. This enhancement in drilling capacity is intended to further define and expand the resource base at the site.
New Placer Dome has reported early positive indications from its Bolo project in Nevada, including the detection of arsenic in drill samples and the confirmation of pathfinder elements via portable XRF analysis. These findings suggest potential gold-silver mineralisation, prompting the company to expand its drilling programme.
The drilling programme at Bolo has been expanded from an original 3,500 metres due to promising early results. This strategic decision reflects the company's confidence in identifying further mineralisation in the region.
Pathfinder elements are indicators that may signify the proximity of ore deposits. The recent identification of these elements at Bolo increases optimism about potential gold-silver mineralisation, supporting the company's strategic exploration efforts.
At Kinsley Mountain, New Placer Dome has completed over 1,500 metres of drilling in 6 RC holes. Initial results have shown encouraging signs, such as the intersection of pyrite mineralised shale, which mirrors historical well-mineralised intercepts.
The increased drilling rate at Kinsley Mountain, facilitated by the addition of a diamond core rig and plans to mobilise a larger truck-mounted RC drill rig, suggests a proactive approach to further define and expand mineral resources, potentially enhancing project value.
The current drilling at Bolo aims to establish connections between the South Mine Fault and Uncle Sam zones, alongside exploring new discoveries beneath existing mineralisation. This focus underscores the company's commitment to enhancing its resource base.
Drill chip samples from the first five holes at Bolo have been sent to ALS Global for advanced geochemical and gold fire assay analysis, which is crucial for accurately determining the mineral content and potential commercial viability of the site.
Early indications of mineralisation can be promising for investors, as they may suggest future profitability potential. As New Placer Dome continues to expand its drilling activities and investigate these findings, there's an opportunity for value appreciation in the company's shares.