New Placer Dome (TSXV:NGLD) has released assay results from the initial nine reverse circulation drill holes at its Kinsley Mountain gold project in Nevada, revealing significant gold intersections. The results show that eight out of the nine holes achieved notable gold grades, with one section reporting 6.1 meters of gold grading 10.22 g/t.
The drill campaign consisted of 49 holes over a total of 17,970 meters, targeting five areas within the broader resource zone. This strategic drilling was aimed at exploring both expansions of existing resource areas and identifying undrilled targets with high potential. The positive assay results from these nine holes indicate a strong likelihood of increasing mineral resources in several zones.
The Kinsley Mountain project is characterized by Carlin-style gold mineralization. Currently, it holds an indicated resource of approximately 302,000 ounces of gold at the Western Flank Zone, with an average grade of 6.11 g/t. As further assay results from the remaining 40 drill holes are anticipated, these initial findings significantly enhance the project's attractiveness.
Max Sali, CEO and founder of New Placer Dome, expressed optimism regarding the results, emphasizing the exploration potential of Kinsley Mountain. The findings may bolster investor interest amidst a favorable market for gold resources.
Recent drilling at Kinsley Mountain revealed significant gold intercepts, with eight out of nine drill holes reporting notable grades. This suggests a strong potential for resource expansion in the area.
The recent campaign involved 49 drill holes, aimed at testing both extensions to established resource areas and high-potential undrilled targets. This dual approach enhances the likelihood of identifying additional gold resources.
Kinsley Mountain currently has an indicated resource of 302,000 ounces of gold with a grade of 6.11 g/t, reflecting the project's promising mineralisation profile.
The encouraging assay results may indicate the potential for increased mineral resources at Kinsley Mountain, possibly leading to enhanced project valuation and investor interest.
Kinsley Mountain hosts Carlin-style gold mineralisation, which is known for its significant potential in terms of both quality and quantity of gold deposits.
With the promising results reported, New Placer Dome is likely to continue its exploration efforts and focus on analysing the remaining assay results to further assess the project's resource potential.
The pending assay results from the remaining 40 drill holes hold significant importance and could potentially amplify the positive outlook for Kinsley Mountain, making them a key focus for investors.
CEO Max Sali's enthusiastic comments about the recent drill results highlight the strong exploration potential of Kinsley Mountain, suggesting that there may be more upside on the horizon for the project.