Navaho Gold (ASX: NVG) is now up and running at the Utah Clipper Project in the U.S., with drilling targeting gold currently having reached a depth of 243 metres.
Navaho has now solved the initial problems with water supply and ground conditions.
The current drill hole is situated in an analogous structural setting to the Barrick Gold Corporation’s (NYSE: ABX) Cortez Hills gold deposit.
Exploration is testing anomalous surface gold and arsenic geochemistry inferred to be possible leakage from concealed gold mineralisation hosted in either deeper parts of the Upper Plate or in the Lower Plate rocks at this location.
Utah Clipper is strategically located directly along strike from the Barrick's Pipeline-Gold Acres Mine, in the Cortez‐Pipeline sector of the Battle Mountain Trend which has produced in excess of 25 million ounces of gold.
Project Interests
The Utah Clipper Project is subject to a farm-in agreement with Columbus Gold Corp (TSX‐V: CGT) under which Navaho can earn a 70% interest in the project.
Navaho’s interest in the TAZ Project is also via a farm‐in agreement. The company can a 75% interest in the project under the agreement with Miranda Gold Corp (TSX‐V: MAD).
Originally published at: http://www.proactiveinvestors.com.au/companies/news/23545/navaho-golds-current-drilling-campaign-targeting-gold-at-utah-clipper-in-the-us-23545.html
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