New Placer Dome Gold Corp. Confirms Secret Spot Discovery Intercepting 1.77 g/t Oxide Gold Over 25.3 Metres and 3.81 g/t Sulphide Gold Over 11.6 Metres; Including 11.3 g/t Gold Over 2.9 Metres at the Kinsley Mountain Gold Project, Nevada
MULTIPLE MINERALIZED INTERCEPTS CONFIRMED IN ALL THREE SECRET SPOT DRILL HOLES
VANCOUVER, BC, April 29, 2021 /CNW/ - New Placer Dome Gold Corp. ("New Placer Dome" or the "Company") (TSX-V: NGLD) (OTCQB: NPDCF) (FSE: BM5) is pleased to report the assay results for the final thirteen drill holes completed during 2020 at its flagship Kinsley Mountain Gold Project ("Kinsley Mountain") in Nevada. Drilling at the Secret Spot has yielded a new discovery of near-surface Dunderberg shale hosted oxide gold mineralization, in addition to a new deeper Secret Canyon shale hosted high-grade sulphide gold intercept.
Three new gold discoveries were confirmed at Kinsley during the 2020 drill season: at Secret Spot, Western Flank Extension, and the Main Pit North oxide targets.
Kinsley Mountain is located 90 km south of the Long Canyon Mine, operated by Nevada Gold Mines. It hosts Carlin-style gold mineralization under and adjacent to a historical open-pit, run-of-mine heap leach operation, and hosts an Indicated Resource at the Western Flank Zone of 302,000 ounces of gold grading 6.11 g/t Au (1.54 million tonnes)1.
The recently completed 2020 Kinsley Mountain reverse circulation and diamond drill campaign comprised 49 drill holes totaling 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. To date, only 20% of Kinsley Mountain has been drill tested, with current results warranting further drilling to build on multiple new discoveries and increase the current indicated and inferred resource at the Western Flank Zone, Main Pit North Oxide and Secret Spot targets.
Diamond drill hole KMD20-006 testing across the Transverse fault intersected a total of four separate mineralized intervals, including multiple oxide gold zones from surface within Dunderberg shale, in addition to the highest-grade interval to date within the Secret Canyon shale at Secret Spot.
Max Sali, CEO and founder of New Placer Dome commented, "With the release of final assay results from our highly successful 2020 Kinsley Mountain drill campaign we now look forward finalizing plans for our follow-up 2021 resource expansion and delineation drill program targeting our three new discovery zones at the Western Flank, Secret Spot, and Main Pit North oxide targets. We now have multiple options for resource expansion and discovery across multiple stratigraphic horizons including near surface high-grade oxide at the Secret Spot and Main Pit North targets; in addition to deep high-grade sulphide2 at the Western Flank Zone and Secret Spot target."
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1 Technical Report and updated estimate of mineral resources on the Kinsley Project, Elko County, Nevada, U.S.A., effective January 15, 2020 and prepared by Michael M. Gustin, Ph.D., CPG, Moira Smith, Ph.D., P.Geo. and Gary L. Simmons, MMSA under New Placer Dome Gold Corp.'s Issuer Profile on SEDAR (www.sedar.com).
2 Metallurgical testing indicates Western Flank Zone Secret Canyon sulphide is not carbon refractory or silica encapsulated. Flotation plus leached tails processing of Secret Canyon sulphide yielded 89-95% gold recovery, at 98.6-312 g/t gold concentrate grade.
Highlights include:
1.76 grams-per-tonne gold ("g/t Au") (oxide) over 18.9 metres ("m") from surface; including 4.46 g/t Au (oxide) over 6.1 m in KMD20-006 at Secret Spot (Figure 1, and Table 1)
3.81 g/t Au (sulphide) over 11.6 m from; including 11.3 g/t Au (sulphide) over 2.9 m in KMD20-006 at Secret Spot (Figure 2)
1.77 g/t Au gold (oxide) over 25.3 m; including 2.75 g/t Au over 10.1 m in KMD20-07B at Secret Spot (Figure 1)
0.79 g/t Au (oxide) over 39.8 m in KMD20-008 at Secret Spot (Figure 1)
0.53 g/t Au (sulphide) over 19.8 m in KMD20-003 at the Western Flank Zone (Figure 3)
0.64 g/t Au (oxide) over 10.7 m in KMR20-029 at the Main Pit North shallow oxide target (Figure 4)
Key Points:
New Discovery at Secret Spot includes multiple at or near surface Dunderberg shale-hosted oxide gold drill intercepts that warrant immediate follow-up drilling
Secret Canyon shale gold (sulphide) intercepts within KMD20-006 represent the highest-grade interval to date at Secret Spot; illustrating the potential of the Secret Spot target to yield high grade gold mineralization similar in tenor to the Western Flank Zone resource located 1.5 kilometres to the north
At Western Flank, discovery of a broad zone of within-pit Hamburg limestone-hosted gold (sulphide) mineralization within drill hole KMD20-003 on the southeast margin of the resource is open to expansion in all directions
*True widths of the mineralized intervals are interpreted to be between 60-90% of the reported lengths.
*Drill composites were calculated using a minimum cut-off of 0.20 g/t gold.
**"Sulphide" defined as CN soluble gold recovery of <50%
Drill hole KMD20-001 (-70/060), KMD20-002 (-72/037), KMD20-004 (-78/083), and KMD20-005 (-80/083) targeting the Western Flank Extension did not intersect significant mineralization. Drill hole holes KMR20-035 (-80/122), KMR20-036 (-85/020), and KMR20-037 (-82/250) targeting the Transverse fault at Shale Saddle also did not intersect significant mineralization (Figure 5).
Methodology and QA/QC Assaying was performed by ALS Global (ALS), Vancouver Canada. ALS is an ISO-IEC 17025:2017 and ISO 9001:2015 accredited analytical laboratory that is independent of New Placer Dome and the QP. RC drill samples were subject to crushing to a minimum of 70% passing 2 mm, followed by pulverizing of a 250-gram split to 85% passing 75 microns. Gold determination was via standard 30-gram fire-assay (FA) analysis with atomic absorption spectroscopy (AAS) finish, in addition to 51 element ICP-MS. Samples returning greater than 10 g/t Au are subject to gravimetric finish. Gold values returning greater than 0.1 g/t Au are also subject leach analysis where the sample is treated with a 0.25% NaCN solution and rolled for an hour. An aliquot of the final leach solution is then centrifuged and analyzed by AAS.
New Placer Dome follows industry standard procedures for the work carried out on the Kinsley Mountain Gold Project, with a quality assurance/quality control (QA/QC) program. Blank, duplicate, and standard samples were inserted into the sample sequence sent to the laboratory for analysis. New Placer Dome detected no significant QA/QC issues during review of the data. New Placer Dome is not aware of any drilling, sampling, recovery or other factors that could materially affect the accuracy or reliability of the data referred to herein.
About New Placer Dome Gold Corp. New Placer Dome Gold Corp. is a gold exploration company focused on acquiring and advancing gold projects in Nevada. New Placer Dome's flagship Kinsley Mountain Gold Project located 90 km south of the Long Canyon Mine (currently in production under the Newmont/Barrick Joint Venture, Nevada Gold Mines), hosts Carlin-style gold mineralization, previous run of mine heap leach production, and NI 43-101 indicated resources containing 418,000 ounces of gold grading 2.63 g/t Au (4.95 million tonnes) and inferred resources containing 117,000 ounces of gold averaging 1.51 g/t Au (2.44 million tonnes)3. The Bolo Project, located 90 km northeast of Tonopah, Nevada, is another core asset, similarly hosting Carlin-style gold mineralization. New Placer Dome also owns 100% of the Troy Canyon Project, located 120 km south of Ely, Nevada. New Placer Dome is run by a strong management and technical team consisting of capital markets and mining professionals with the goal of maximizing value for shareholders through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favourable jurisdictions.
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3 Technical Report and updated estimate of mineral resources on the Kinsley Project, Elko County, Nevada, U.S.A., effective January 15, 2020 and prepared by Michael M. Gustin, Ph.D., CPG, Moira Smith, Ph.D., P.Geo. and Gary L. Simmons, MMSA under New Placer Dome Gold Corp.'s Issuer Profile on SEDAR (www.sedar.com).
Qualified Person The scientific and technical information contained in this news release has been reviewed and approved by Kristopher J. Raffle, P.Geo. (BC), Principal and Consultant of APEX Geoscience Ltd. of Edmonton, AB, a Director of New Placer Dome and a "Qualified Person" as defined in National Instrument 43-101 – Standards of Disclosurefor Mineral Projects. Mr. Raffle has verified the data disclosed which includes a review of the sampling, analytical and test data underlying the information and opinions contained herein.
On behalf of the Board of Directors,
/s/ "Max Sali" Max Sali, Chief Executive Officer
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 news release.
Forward Looking Information
This news release includes certain statements that constitute "forward-looking information or statements" within the meaning of applicable securities law, including without limitation, additional drilling plans in 2021, potential for resource growth/expansion, other statements relating to the technical, financial and business prospects of the Company and its properties, and other matters.
Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved), and variations of such words, and similar expressions are not statements of historical fact and may be forward-looking statements. Forward-looking statement are necessarily based upon a number of factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals, anticipated costs and the ability to achieve goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, and that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company's planned exploration activities will be available on reasonable terms and in a timely manner. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks.
Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events, level of activity, performance or results to differ materially from those reflected in the forward-looking statements, including, without limitation: (i) risks related to gold and other commodity price fluctuations; (ii) risks and uncertainties relating to the interpretation of exploration results; (iii) risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses; (iv) that resource exploration and development is a speculative business; (v) that the Company may lose or abandon its property interests or may fail to receive necessary licences and permits; (vi) that environmental laws and regulations may become more onerous; (vii) that the Company may not be able to raise additional funds when necessary; (viii) the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; (ix) exploration and development risks, including risks related to accidents, equipment breakdowns, labour disputes or other unanticipated difficulties with or interruptions in exploration and development; * competition; (xi) the potential for delays in exploration or development activities or the completion of geologic reports or studies; (xii) the uncertainty of profitability based upon the Company's history of losses; (xiii) risks related to environmental regulation and liability; (xiv) risks associated with failure to maintain community acceptance, agreements and permissions (generally referred to as "social licence"); (xv) risks relating to obtaining and maintaining all necessary government permits, approvals and authorizations relating to the continued exploration and development of the Company's projects; (xvi) risks related to the outcome of legal actions; (xvii) political and regulatory risks associated with mining and exploration; (xix) risks related to current global financial conditions; and (xx) other risks and uncertainties related to the Company's prospects, properties and business strategy. These risks, as well as others, could cause actual results and events to vary significantly.
Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, the loss of key directors, employees, advisors or consultants, adverse weather conditions, increase in costs, equipment failures, government regulations and policies, litigation, exchange rate fluctuations, the impact of Covid-19 or other viruses and diseases on the Company's ability to operate, decrease in the price of gold and other metals, failure of counterparties to perform their contractual obligations and fees charged by service providers. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
SOURCE New Placer Dome Gold Corp.
Max Sali, Chief Executive Officer & Director, Tel: 604 620 8406, Email: [email protected]; Karl Mansour, Paradox IR, Tel: 514 341 0408, Email: [email protected]; David Gdanski, Empire Communications IR, Tel: 778 903 7325, Email: [email protected]
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