VANCOUVER, BC, June 8, 2020 /CNW/ - New Placer Dome Gold Corp.
("New Placer Dome" or the "Company") (TSXV: NGLD)
(FSE: BM5) is pleased to announce that it has secured drill rigs
for its Kinsley Mountain and Bolo gold projects, with drilling on
both projects expected to start mid-July.
Kinsley Mountain
New Placer Dome has secured Boart Longyear, based in
Elko, Nevada, to provide a crew
and drill rig for the upcoming 2020 drilling program at Kinsley
Mountain Gold Project. Boart Longyear is experienced with the
project, having successfully drilled Kinsley in the past with
Liberty Gold Corp. (TSX: LGD) ("Liberty"). The Company looks
forward to working with the Boart Longyear team to carry out
another successful drilling campaign this summer.
Drilling is expected to commence in mid-July. A Phase 1
program of up to 15,000 metres (~49,200 feet) of reverse
circulation (RC) drilling and 5,600 metres (~18,400 feet) of
diamond core drilling is anticipated for Kinsley during 2020.
Phase 1 drilling will test the high-priority Racetrack, Transverse,
Big Bend, Western Flank, and KN targets. New Placer Dome and its
technical consultants APEX Geoscience Ltd. ("APEX") are
currently working with Liberty to finalize priority discovery drill
target selection.
Kinsley Mountain is a Carlin-style gold project hosting
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)1. The Company believes there is
significant potential to expand the footprint of known
mineralization and contained resources.
Bolo
New Placer Dome has secured New Frontier Drilling LLC ("New
Frontier"), based in Fallon,
Nevada, to provide a crew and drill rig for the upcoming
2020 RC drilling program at Bolo. New Frontier executed the highly
successful 2019 RC drilling program at Bolo under the supervision
of geologists from APEX. The Company is delighted to welcome both
New Frontier and APEX back for the 2020 program.
Drilling at Bolo will focus on testing for Carlin-style gold
mineralization at depth in the South Mine Fault Zone, following up
on results from the 2019 program including:
- 84 metres of 1.37 g/t gold in hole BL19-012,
and
- 122 metres of 1.2 g/t gold in hole
BL19-042,
- New discovery of 12.2 metres of 3.32 g/t gold in hole
BL19-043
The 2020 program will also test the continuity of mineralization
between the South Mine Fault Zone and Uncle Sam Silver Zone, where
a 2019 outcrop sample yielded 3.63 g/t gold with 262 g/t
silver.
Mobilization of the drill and ancillary equipment is scheduled
for mid-July, with drilling commencing shortly thereafter. The
Company expects to complete a total of approximately 3,000 metres
(~9,900 feet) of drilling over a period of approximately 40
drilling days.
Maximilian Sali, CEO and Founder
comments: "Having just completed a significant raise to fund a
multi-phase drilling and surface exploration program at Kinsley, as
well as a 3,000 metre drill program at Bolo, securing rigs for both
projects was essential given the number of companies planning
summer drill programs in Nevada,
which has increased considerably with the rising price of bullion.
With the rigs secured, we and our technical team at APEX will shift
our focus to drill targeting for both assets, with Liberty's
technical team assisting with target selection for
Kinsley."
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), 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)4. The Bolo Project, located 90 km
northeast of Tonopah, Nevada, is
another core asset, similarly hosting Carlin-style gold
mineralization. New Placer Dome also holds an option to acquire
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
market 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.
Qualified Person
The scientific and technical
information contained in this news release as it relates to the
Kinsley Mountain and Bolo Gold Projects has been reviewed and
approved by Kristoper J. Raffle, P.Geo. (BC) Principal and
Consultant of APEX Geoscience Ltd. of Edmonton, AB, a Director of New Placer Dome
Corp., and a "Qualified Person" as defined in National Instrument
43-101 – Standards of Disclosure for Mineral
Projects. Mr. Raffle verified the data disclosed which
includes a review of the analytical and test data underlying the
information and opinions contained therein.
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, conducting
exploration work on its projects, expand the resources, 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, 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.
____________________________
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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 The
true width of mineralization is estimated to be approximately
60-70% of drill width.
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3 The
true width of the lower gold zone is unknown.
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4
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).
|
SOURCE New Placer Dome Gold Corp.