Navaho Gold kicks off drilling targeting near surface gold at Rose Mine project

Navaho Gold (ASX: NVG) has commenced 1,500 metres of maiden reverse circulation drilling on the Rose Mine project in Nevada, USA, testing near-surface 'carlin style' gold mineralisation.

On completion, the drill rig will then move onto the adjoining Stevens Basin project followed by maiden drilling at Whitehorse Flats.

Navaho now has two rigs contracted to complete programs on five projects before the U.S. winter. The drilling adds to the company's aggressive program of drilling scheduled in its first year of listing.

From the period 1981 to 2009, in excess of 156 million ounces gold has been produced in Nevada, making it one of the most strongly endowed gold provinces in the World. The Carlin Trend alone has produced more gold than any other mining district in the USA.

Mark Dugmore, Navaho CEO, said “in addition to the large tonnage targets being tested at the TAZ and Utah Clipper projects outlined in the ASX release last week, it is exciting to be again testing additional large tonnage targets analogous to the Achimedes/Ruby Hill deposit in this program.“

The TAZ Project has seen little historic drilling except for a shallow hole sunk by BHP Minerals.  In addition, the prospect is located 25 kilometres south east of Barrick Gold Corporation's (NYSE: ABX) massive 11.5 million ounce Cortez Hills deposit. 

The Rose Mine Project is located in the Eureka Mining District on the Battle Mountain Trend, 13 kilometres south west of the 2.23 million ounce Ruby Hill/Archimedes deposit owned by Barrick.

The area is the subject of a farm-in agreement with Renaissance Gold (TSX-V: REN) under which Navaho can earn a 70% interest in the project.

The drill program will first test near-surface gold mineralisation defined by an intersection of 44 metres at 0.26 grams per tonne (g/t) gold from 24 metres depth by a previous partner Renaissance Gold.

Drilling will then move on to test a further 10 to 12 soil geochemical and geophysical (both gravity and magnetic) anomalies recently defined by Navaho.

Follow-on drilling at the Stevens Basin and Whitehorse Flats Projects will then commence.
Stevens Basin project
Stevens Basin Project is located immediately north of Rose Mine and is subject to a farm-in agreement with Columbus Gold Corp (TSX-V:CGT) whereby Navaho can earn a 70% interest in the project.

The drill program at Stevens Basin is designed to follow up the highly anomalous gold mineralisation in which Navaho intersected 15.2 metres at 0.18 g/t from 35 metres depth in June 2011.

Drilling will also test a further suite of structural features identified from interpretation of gravity data, a magnetic target with features analogous to the Archimedes/Ruby Hill deposit, and further multi-element soil anomalies defined by sampling completed by Navaho in recent months.

About 1,200 metres of reverse circulation drilling will be completed in 8-10 holes.
Whitehorse Flats

The Whitehorse Flats Project is located 8 kilometres northeast of the Kinsley Mine which produced approximately 400,000 oz gold in the mid-1980’s.
The area is the subject of a farm-in agreement with Columbus Gold Corp (TSX-V:CGT) under which Navaho can earn a 70% interest in the project.

About 1,500 metres of reverse circulation drilling will be completed in 10-12 holes to test a 1.2 kilometres outcropping zone of silicification with anomalous gold defined in rockchips taken by Columbus Gold Corp (ranging from 0.32 to 1.82 ppm) and the interpreted extension of this mineralised zone under alluvial cover to the east.


Originally  published at: http://www.proactiveinvestors.com.au/companies/news/19812/navaho-gold-kicks-off-drilling-targeting-near-surface-gold-at-rose-mine-project--19812.html