BajaWizard
9 years ago
Did you dip your toes into this?
Been trying to release some positions, but, can't get out rite now,damn.
Fear by the time I can will be chasing.
What's your view.
A Deeper Look Into Today's Trading
Dear FutureMoneyTrends.com Member,
I wanted to give you my initial thoughts on why NGE “technically” doubled for a short time in today’s trading.
Let's look at the underlying facts that may have contributed to today's movement, including how tightly held it is....
With 60% of shares being held by insiders and their top 4 shareholders, one of whom is John Kaiser, one of the most respected resource stock pickers in the world.
Management and family own about half of the entire company. This is very positive, in my opinion, when management’s interests are aligned with shareholders. But it leaves very little for public trading, which is one of the key reasons for why the stock was up so much today, as compared to its last trade Friday.
Adding to demand for the stock today was NGE’s important press release, reporting new drill data confirming the presence of a large, gold-bearing hydrothermal system at their Grass Valley project.
With this news, our own coverage, and the lack of sellers, the stock gapped open at CAD $0.32, when the previous close was CAD $0.25. The same thing happened on the U.S. side; Friday, NVDEF closed at $0.18, and today it opened at $0.25.
The market seems to have sorted itself out today, in my opinion, and FutureMoneyTrends.com is recommending our members consider shares of this developing story immediately.
According to John Kaiser in our recent interview, CEO Wade Hodge’s could spark a modern-day gold rush in Nevada, with Nevada Exploration (NGE).
This is a long-term stock suggestion for us, so expect updates regularly.
Best Regards,
Daniel Ameduri
President, FutureMoneyTrends.com
Legal Notice: This work is based on SEC filings, current events, interviews, corporate press releases and what we’ve learned as financial journalists. It may contain errors and you shouldn’t make any investment decision based solely on what you read here. It’s your money and your responsibility. The information herein is not intended to be personal legal or investment advice and may not be appropriate or applicable for all readers. If personal advice is needed, the services of a qualified legal, investment or tax professional should be sought.
Never base any decision off of our emails. FutureMoneyTrends.com stock profiles are intended to be stock ideas, NOT recommendations. The ideas we present are high risk and you can lose your entire investment, we are not stock pickers, market timers, investment advisers, and you should not base any investment decision off our website, emails, videos, or anything we publish. Please do your own research before investing. It is crucial that you at least look at current SEC filings and read the latest press releases. Information contained in this profile was extracted from current documents filed with the SEC, the company web site and other publicly available sources deemed reliable. Never base any investment decision from information contained in our website or emails or any or our publications. Our report is not intended to be, nor should it be construed as an offer to buy or sell, or a solicitation of an offer to buy or sell securities, or as a recommendation to purchase anything. This publication may provide the addresses or contain hyperlinks to websites; we disclaim any responsibility for the content of any such other websites. We have been compensated by Nevada Exploration thirty thousand dollars, one hundred thousand options, and eleven payments of seven thousand each over the next year for our promotional pieces, online ads, and other digital marketing. Please use our site as a place to get ideas. Enjoy our videos and news analysis, but never make an investment decision off of anything we say. Please review our entire disclaimer at FutureMoneytrends.com.
JD400
11 years ago
Nevada Exploration Inc. to Extend Warrants
December 10, 2013
Nevada Exploration Inc. (TSX.V:NGE) (“NGE”) is pleased to announce that it is seeking approval from the TSX Venture Exchange (the "Exchange") to amend the terms of certain warrants which would otherwise expire on December 24, 2013.
Specifically, subject to Exchange approval, NGE plans to extend the exercise date of the 5,000,000 warrants issued as part of NGE’s December 2012, 10,000,000 Unit financing (the “Warrants”), from December 24, 2013 (12 months), to December 24, 2014 (24 months). All other provisions of the Warrants remain unchanged, including the exercise price of $0.15, and the accelerated expiry provision whereby if on any 20 consecutive trading days the closing sales price (or closing bid price on days when there are no trades) of the common shares of NGE quoted on the Exchange is greater than $0.25, NGE may accelerate the expiry date of the Warrants to the 30th day after the date on which NGE gives notice of such acceleration.
About Nevada Exploration Inc.
NGE is an exploration company focused on gold in Nevada. NGE is led by an experienced management team that has been involved with the discovery of more than 30 million ounces of gold in Nevada.
NGE is aggressively applying the latest in covered deposit exploration technology to identify, acquire, and advance new exploration properties in Nevada’s highly prospective, yet underexplored covered basins. Specifically, NGE has developed proprietary hydrogeochemistry (groundwater chemistry) exploration technology to explore for gold in Nevada’s covered basins where traditional exploration techniques are challenged.
Using its industry leading exploration technology, NGE has assembled a portfolio of new gold projects, and with interests in 135 square kilometres (52 sq mi), is evolving as a major player in this world class jurisdiction. NGE’s business model is to leverage its properties and technology to create shareholder value through generative exploration, joint ventures, and other exploration partnerships.
For further information please contact:
James Buskard
Vice President Corporate Development
Nevada Exploration Inc.
Email: info@nevadaexploration.com
Tel: 1 (888) 263 2110
Website: www.nevadaexploration.com
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 release.
Cautionary Statement on Forward-Looking Information:
This release contains certain "forward-looking statements" including, without limitation, expectations, beliefs, plans and objectives regarding the potential transactions and ventures discussed in this release. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are the risks inherent in mineral exploration, the need to obtain additional financing, environmental permits, the availability of needed personnel and equipment for exploration and development, fluctuations in the price o
JD400
11 years ago
Additional Work at McEwen Mining Inc.’s Gold Bar and Tonkin Properties
Following up on the initial work completed primarily in 2011 (see NGE news release dated June 6, 2011), McEwen Mining Inc. has engaged to NGE collect additional groundwater samples on and around McEwen Mining Inc.’s large land position at its Gold Bar and Tonkin Properties in Nevada. As per the agreement, NGE receives a fee for its services, as well as a 0.5 to 1.0% Net Smelter Return Royalty on new resources associated with anomalous hydrogeochemistry that were not already contained in NI 43-101 compliant resources published prior to the date of the agreement. Based on the results to date, NGE believes that there are several compelling exploration targets associated with high concentrations of gold in groundwater on the Gold Bar and Tonkin Properties, and NGE is pleased to be continuing to work with McEwen Mining Inc. on these Properties.
Annual General and Special Meeting
On October 30, 2013, NGE held its Annual General and Special Meeting. All business before the meeting was approved by shareholders, including the election of directors, re-appointment of NGE’s auditor, and the re-approval of NGE’s stock option plan. John Ryan and Antonio Ponte did not stand for re-election to the Board. NGE wishes to kindly thank both Mr. Ryan and Mr. Ponte for their contribution and service. NGE also wishes to sincerely thank its shareholders for their continued support.
JD400
11 years ago
The South Grass Valley Project
NGE identified the South Grass Valley Project as part of its regional hydrogeochemistry exploration program. Because of its prospective regional geology and proximity to world class gold deposits, NGE considered Grass Valley to be a high priority area of interest and collected groundwater samples across the valley using NGE’s proprietary hydrogeochemistry exploration technology. NGE began its sampling efforts at the northern end of valley, and the first target NGE identified was the Grass Valley Project (please refer to previous news releases detailing the exploration agreement with McEwen Mining Inc.). As NGE continued to collect groundwater samples further south in Grass Valley, NGE delineated a second area of highly anomalous gold in groundwater at the South Grass Valley Project.
In terms of its regional geologic context, the South Grass Valley Project lies along the same inferred deep-seated structural corridor as the Grass Valley Project to the north, which heads south-southwest from Barrick Gold Corp.’s Cortez Property, a series of large Carlin-type gold deposits primarily hosted in deeper lower plate bedrock. At the project scale, initial geologic mapping has established the presence of lower plate carbonate rocks outcropping within and adjacent to the Project claim boundary. These features of geologic significance have recently attracted the attention of other exploration groups; however, because much of the target is covered by a layer of sand and gravel, their efforts have predominantly been limited to the areas adjacent to the outcropping lower plate carbonate rocks near the periphery of the Project. NGE is the first to use hydrogeochemistry exploration technology to evaluate the covered portion of the Project.
In addition to the high concentrations of gold in the groundwater, there are several other geologic features of interest at the South Grass Valley Project that NGE believes help to establish the prospectiveness of the Project. Based on the regional air magnetic geophysics dataset, the granitic intrusive rocks of Jurassic age that outcrop in the southwest corner of the Project are associated with a broad magnetic response interpreted to relate to similar-aged intrusive bodies both at depth on the Project and elsewhere in the region. Of particular note, the mineralized Jurassic-aged Mill Canyon stock at Cortex Hills to the north is spatially associated with, and believed to be important in preparing the ground for, the later Tertiary–aged, Carlin-Type gold mineralization. Complementing the air magnetic geophysics, the regional gravity geophysics dataset suggests the Project is underlain by shallow bedrock adjacent to the lower plate carbonate outcrop. Together, the high concentration of gold in groundwater, the regional geologic context, the project scale mapping, and the regional geophysics datasets suggest the possibility that lower plate rocks associated with mineralization could be present at economic depths at the South Grass Valley Project, and NGE believes the Project represents a compelling new exploration target in a part of Nevada known for large, multi-million ounce gold deposits.
Discussing NGE’s South Grass Valley Project, Wade Hodges, NGE’s President & CEO: “The market conditions facing our industry present difficult and challenging choices. We remain committed to our belief that exploring for new gold deposits in the underexplored covered basins of Nevada, the world’s highest gold producer per unit area, represents the most exciting opportunity anywhere in world for our industry, and that hydrogeochemistry is the best tool to capitalize on this opportunity. Because we have focused our resources and efforts to develop and advance our high value, low cost, hydrogeochemistry exploration technology, NGE is well positioned to continue to generate new opportunities for our shareholders to participate in the upside of new high quality exploration projects while many in the industry are sitting on the sidelines.”
JD400
11 years ago
Nevada Exploration Inc. (TSX.V:NGE) (“NGE”) is pleased to announce that it has used its proprietary hydrogeochemistry exploration technology to delineate a new exploration target exhibiting high concentrations of gold in groundwater on the south-east edge of Grass Valley, along a regionally important structural corridor known to host world class gold mineralization to the north. NGE has secured the target to establish the South Grass Valley Project by staking 186 unpatented mining claims covering 1,500 hectares (3,700 acres). The Project is located in north-central Nevada, approximately 50 kilometres (32 miles) south southwest of Barrick Gold Corp.’s Cortez Pipeline property, one of the world’s largest and lowest cost gold mines, and approximately 30 km (18 miles) south of the northern Grass Valley Project, which is presently being advanced by McEwen Mining Inc. under an exploration partnership with NGE.
JD400
11 years ago
NGE is aggressively applying the latest in covered deposit exploration technology to identify, acquire, and advance new exploration properties in Nevada’s highly prospective, yet underexplored covered basins. Specifically, NGE has developed proprietary hydrogeochemistry (groundwater chemistry) exploration technology to explore for gold in Nevada’s covered basins where traditional exploration techniques are challenged.
Using its industry leading exploration technology, NGE has assembled a portfolio of new gold projects, and with interests in over 120 square kilometres (46 sq mi), is evolving as a major player in this world class jurisdiction. NGE’s business model is to leverage its properties and technology to create shareholder value through generative exploration, joint ventures, and other exploration partnerships.
JD400
11 years ago
Nevada Exploration Inc. and Spruce Ridge Resources Ltd. Agree to Terminate the Fletcher Junction Option Agreement
September 30, 2013
Nevada Exploration Inc. (TSX.V:NGE) (“NGE”) announces that NGE and Spruce Ridge Resources Ltd. (“Spruce Ridge”) have agreed to terminate the Exploration and Option to Enter Joint Venture Agreement (“Agreement”) at the Fletcher Junction gold project in Mineral County, Nevada. After completing two core drill holes, totalling approximately 1,200 metres (4,000 feet), Spruce Ridge has indicated that it believes the results do not lead to a vector that can be easily followed with the resources Spruce Ridge has available. NGE has agreed to accept a payment of $22,000USD from Spruce Ridge to settle Spruce Ridge’s outstanding obligations under the Agreement. With the termination of the Agreement, Spruce Ridge retains no interest in the project.
Specifically, discussing its decision, Spruce Ridge reported: “The second diamond drill hole at Fletcher Junction (FJ15) gave results very similar to the first hole (FJ14); gravels overlying bedrock contained locally anomalous gold. The bedrock, which (also like FJ14) comprised a sedimentary sequence composed of reworked pyroclastic and epiclastic volcanic rocks, was assayed where there were signs of silica-sulphide mineralization, and these sections yielded only minimal gold values, but did contain anomalous silver, arsenic, mercury, molybdenum and antimony, all pathfinder elements for epithermal gold systems, and all very similar to the concentrations in FJ14. The results do not lead to a simple vector indicating which direction to go towards the gold source; following up these indications would have entailed a multi-hole core drilling program, with each hole approximately 2,000 feet deep. The Company would require considerable funding to meet its commitments and the dilution to existing shareholders would be significant.”
NGE wishes to thank Spruce Ridge for advancing the Fletcher Junction gold project with these two very important drill holes. The significant intervals of highly anomalous trace-element concentrations in the first drill hole showed few visible marks and these important geologic units were only identified by the lab assays results. Only approximately 40% of the core samples from Spruce Ridge’s second drill hole have been assayed. NGE plans to assay the remaining approximately 60% of the second drill hole and to provide another project update once it has updated the project’s exploration dataset with these additional lab results.
http://www.nevadaexploration.com/news/index.php?&content_id=174
Tommy
11 years ago
Nevada Exploration Inc. Provides 2013 Summer Exploration Update
http://www.nevadaexploration.com/news/index.php?&content_id=165
Nevada Exploration Inc. (“NGE”) (TSX.V:NGE) is pleased to provide a mid-year exploration update. Most significantly, NGE has been focused on advancing its regional hydrogeochemistry exploration program, specifically to generate new high quality exploration targets.
Since 1970, Nevada has produced over 250 million ounces of gold, and another 100 million ounces sit in reserves on ground mainly controlled by Barrick Gold Corporation and Newmont Mining Corporation along inferred regional geologic lineaments know as the Carlin and the Battle Mountain-Eureka trends. Early observations that multi-million ounce gold deposits were aligned along these trends helped to focus exploration in Nevada, but additional large deposits have been discovered off the trends and suggest that many other features of exploration significance are important for mineralization beyond simply a location along these inferred trends. Recent publications by John Muntean of the Nevada Bureau Mines and Geology (summarized in the presentations area of the NGE website) have examined the geologic conditions responsible for the genesis of Nevada’s unique gold endowment. The research strongly suggest that an equivalent amount of gold as has already been discovered in Nevada still remains to be discovered, and that there are good reasons to believe that much of Nevada’s remaining gold budget lies beyond the inferred trends that have been the focus of most exploration to date in Nevada, and importantly that this remaining gold is likely not on land controlled by the majors in the existing trends.
Based on this new and improved understanding of the origins of Nevada’s gold, NGE has focused its 2013 hydrogeochemistry sampling program on these highly prospective areas between the major trends that have seen limited exploration to date. NGE’s 2013 sampling program began in April and so far its field crews have collected 399 new groundwater samples, and have identified several new high priority targets in the areas defined as being most prospective for multi-million ounce Carlin-type deposits (see NGE website). Depending on weather conditions, NGE is optimistic that its sampling crews will collect approximately 300 mores samples this year, bringing the total number of NGE hydrogeochemistry samples to approximately 5,000. As NGE receives the laboratory analysis from these new samples, NGE will be evaluating opportunities to acquire the mineral rights covering the new high priority targets.
Discussing the 2013 field program, Wade Hodges, President & CEO: “Despite the challenging market conditions facing our industry, NGE is please to be pushing forward with its generative exploration program. We are leveraging our considerable investment in our proprietary hydrogeochemistry exploration program to complete low cost, high value exploration. We believe the new targets we have identified already this year represent some of the most exciting exploration opportunities in Nevada, the world’s highest gold producing jurisdiction by unit area, and we are looking forward to reviewing the results from the balance of this year’s program with an eye to acquiring additional ground.”
In addition to NGE’s generative exploration work, NGE’s exploration partner at its Fletcher Junction Project, Spruce Ridge Resources Ltd. (“Spruce Ridge”), completed a second core hole at the project on April 19, 2013. Spruce Ridge completed the second core hole to a depth of 609 metres (2,000 feet), and NGE understands that Spruce Ridge is now waiting for lab results from the samples that it submitted. Under the Exploration and Option to Enter Joint Venture Agreement between Spruce Ridge and NGE, the next payments due to NGE if Spruce Ridge elects to continue the project are due on July 30, 2013.
Nevada Exploration Inc.
NGE is an exploration company focused on gold in Nevada. NGE is led by an experienced management team that has been involved with the discovery of more than 30 million ounces of gold in Nevada.
NGE is aggressively applying the latest in covered deposit exploration technology to identify, acquire, and advance new exploration properties in Nevada’s highly prospective, yet underexplored covered basins. Specifically, NGE has developed proprietary hydrogeochemistry (groundwater chemistry) exploration technology to explore for gold in Nevada’s covered basins where traditional exploration techniques are challenged.
Using its industry leading exploration technology, NGE has assembled a portfolio of nine new gold projects, and with over 13,500 hectares (52 sq mi), is evolving as a major player in this world class jurisdiction. NGE’s business model is to leverage its properties and technology to create shareholder value through generative exploration, joint ventures, and other exploration partnerships.
For further information please contact:
James Buskard
Vice President Corporate Development
Nevada Exploration Inc.
Email: info@nevadaexploration.com
Tel: (775) 359-7740
Website: www.nevadaexploration.com
Wade A. Hodges, President & CEO, Nevada Exploration Inc., is the Qualified Person, as defined in National Instrument 43-101, and has prepared the technical and scientific information contained in this News Release. An ongoing quality control/quality assurance protocol is being employed during the program including blank, duplicate and reference standards in every batch of assays. Gold and multi-element analyses are being performed at American Assay Laboratories in Sparks, Nevada.
JD400
12 years ago
Nevada Exploration Closes $1,000,000 Private Placement
Nevada Exploration Inc. (“NGE”) (TSX-V:NGE) is pleased to announce that it has closed, subject to TSX Venture Exchange final approval, the non-brokered private placement (“Offering”) previously announced on December 5, 2012. NGE has issued 10,000,000 Units at a price of $0.10, for gross proceeds of $1,000,000. Each Unit consists of one common share and one-half of one non-transferable common share purchase warrant. Each whole warrant will entitle the holder to purchase one common share at an exercise price of $0.15 for a period of one year, subject to an accelerated expiry provision described below (the “Warrants”). All shares issued are subject to a four month hold period expiring April 25, 2012, as well as to any other re-sale restrictions imposed by applicable securities regulatory authorities. The proceeds of this tranche will be used to advance NGE’s exploration projects and for general working capital.
If on any 20 consecutive trading days after the issuance of the Units, the closing sales price (or closing bid price on days when there are no trades) of the common shares of NGE quoted on the TSX Venture Exchange is greater than $0.25, NGE may accelerate the expiry date of the Warrants to the 30th day after the date on which NGE gives notice to the Warrant holder of such acceleration.
In conjunction with the Offering, NGE paid finders’ fees to arm’s length parties totalling $36,920 in cash and issued 369,200 Broker Warrants exercisable under the same terms as those warrants issued as part of the Units in the Offering. All Broker Warrants are subject to a four month hold period expiring April 25, 2012.
The securities issued by NGE have not and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”), or the securities laws of any state of the United States, and may not be offered or sold in the United States absent registration or an applicable exemption therefrom under the 1933 Act and the securities laws of all applicable states.
Nevada Exploration Inc.
NGE is an exploration company focused on gold in Nevada. NGE is led by an experienced management team that has been involved with the discovery of more than 30 million ounces of gold in Nevada.
NGE is aggressively applying the latest in covered deposit exploration technology to identify, acquire, and advance new exploration properties in Nevada’s highly prospective, yet underexplored covered basins. Specifically, NGE has developed proprietary hydrogeochemistry (groundwater chemistry) exploration technology to explore for gold in Nevada’s covered basins where traditional exploration techniques are challenged.
Using its industry leading exploration technology, NGE has assembled a portfolio of nine new gold projects, and with over 13,500 hectares (52 sq mi), is evolving as a major player in this world class jurisdiction. NGE’s business model is to leverage its properties and technology to create shareholder value through generative exploration, joint ventures, and other exploration partnerships.
For further information please contact:
James Buskard
Vice President Corporate Development
Nevada Exploration Inc.
Email: info@nevadaexploration.com
Tel: (775) 359-7740
Website: www.nevadaexploration.com
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 release.
Cautionary Statement on Forward-Looking Information:
This release contains certain "forward-looking statements" including, without limitation, expectations, beliefs, plans and objectives regarding the potential transactions and ventures discussed in this release. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are the risks inherent in mineral exploration, the need to obtain additional financing, environmental permits, the availability of needed personnel and equipment for exploration and development, fluctuations in the price of minerals, and general economic conditions.
JD400
12 years ago
Nevada Exploration Announces Private Placement
December 5, 2012
Nevada Exploration Inc. ("NGE") (TSX-V:NGE) announces a non-brokered private placement offering of up to 10,000,000 units (the "Units") at a price of $0.10 per Unit (the "Offering"), for total gross proceeds of up to $1,000,000. Each Unit will consist of one common share and one-half of one non-transferable common share purchase warrant. Each whole warrant will entitle the holder to purchase one common share at an exercise price of $0.15 for a period of one year, subject to an accelerated expiry provision described below. Proceeds from the offering will be used to advance NGE's exploration projects, and for general working capital.
The Offering is scheduled to close on or about December 20, 2012, and is subject to receipt of all necessary regulatory and stock exchange approvals. The securities issued at closing of the Offering will be subject to a four month hold period from the date of issue, as well as to any other re-sale restrictions imposed by applicable securities regulatory authorities.
Subject to approval by the TSX Venture Exchange and applicable securities legislation, NGE may pay eligible arms-length finders a finder's fee of up to 8% of the gross proceeds raised, in addition to a number of Compensation Warrants equal to 8% of the total Units subscribed. The Compensation Warrants shall be issued on the same terms as the Warrants issued under the Offering.
If, on any 20 consecutive trading days after the issuance of the Units, the closing sales price (or closing bid price on days when there are no trades) of the common shares of NGE quoted on the TSX Venture Exchange is greater than $0.25, NGE may accelerate the expiry date of the Warrants to the 30th day after the date on which NGE gives notice to the Warrant holder of such acceleration.
The securities issued by NGE have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or the securities laws of any state of the United States, and may not be offered or sold in the United States absent registration, or an applicable exemption therefrom, under the 1933 Act and the securities laws of all applicable states.
http://www.nevadaexploration.com/
JD400
12 years ago
Nevada Exploration Inc. Provides Fletcher Junction Project Update: Drilling to Commence
Nevada Exploration Inc. (“NGE”) (TSX.V:NGE) is pleased to announce that Spruce Ridge Resources Ltd. (“Spruce Ridge”), NGE’s exploration partner at NGE’s Fletcher Junction Gold Project (the “Project”) in Mineral County, Nevada, has signed a drill contract to commence drilling at the Project, with an expected start date before the end of October.
During this past summer Spruce Ridge completed a high-resolution (150 metre line spacing) and deep penetrating (+300 metre) airborne VTEM® (versatile time-domain electromagnetic geophysical system) and magnetic survey covering approximately 387 line kilometres over both the Project and part of the nearby historic Aurora mining district, which produced approximately 1.9 million ounces of gold, mostly in the nineteenth century. The airborne survey results show a resistivity low in the bedrock hidden beneath the basalt flows of the Aurora Crater adjacent to the Aurora mining district that may be caused by alteration potentially associated with gold mineralization. This resistivity low extends continuously beneath the basalt flows from the north end of the Project down to the Aurora mining district to the south. These significant geophysical results suggest there may be a continuous mineralized system hidden beneath the Aurora Crater extending n orthward for approximately 11 kilometres from the Aurora mining district through the Project.
Furthermore, detailed interpretation of the VTEM® survey results has provided additional evidence to support the presence of potentially silicified hills beneath the Aurora Crater, which are believed to be the source of the mineralized boulders found along the edge of the basalt flows - of the 148 angular quartz float samples NGE collected along the edge of the basalt cover, 30 samples contained gold concentrations greater than 0.1 grams per tonne, 11 samples contained gold concentrations greater than 1.0 grams per tonne, and 3 samples contained gold concentrations greater than 10.0 grams per tonne (11.2 g/t, 26.9 g/t, and 90.5 g/t).
Spruce Ridge and NGE are very pleased with the additional information provided by the airborne survey and have staked 128 additional claims (245 total), more than doubling the size of Project (now at more than 2,000 hectares), to cover the potentially mineralized north-south structural trend running north from the Aurora mining district to the Project beneath the Aurora crater.
Based on the detailed interpretation of the VTEM®, combined with the results of NGE’s work to date, Spruce Ridge has prioritized a series of drill targets to test this geologic concept and is preparing to drill. Specifically, Spruce Ridge has entered into a drilling contract specifying a minimum of 5,000 feet of diamond drilling and drilling will likely commence before the end of October.
More detailed information about the Project, the results to date, and the upcoming drilling program is available in a presentation available at: http://www.nevadaexploration.com/investor_info/presentations/
Kelly Creek Project
NGE also announces that it has elected to pay 50% of the annual payment due to Genesis Gold Corporation (“Genesis”), an arm’s length party, under a Mining Lease and Option to Purchase Agreement on Genesis’s Hot Pot Claims by issuing common shares to Genesis. Specifically, subject to TSX Venture Exchange approval, NGE has elected to issue 50,049 Common Shares at a deemed price of $0.109 per share. The shares will be subject to a four month hold period expiring on February 24, 2013.
Nevada Exploration Inc.
NGE is an exploration company focused on gold in Nevada. NGE is led by an experienced management team that has been involved with the discovery of more than 30 million ounces of gold in Nevada.
NGE is aggressively applying the latest in “blind deposit” exploration technology to identify, acquire, and advance new exploration properties in Nevada’s highly prospective, yet underexplored covered basins. Specifically, NGE has developed proprietary hydrogeochemistry (groundwater chemistry) exploration technology to explore for gold in Nevada’s covered basins where traditional exploration techniques are challenged.
Using its industry leading exploration technology, NGE has assembled a portfolio of new gold projects, and with ownership interests covering more than 19,000 hectares (73 sq mi), is evolving as a major player in this world class jurisdiction. NGE’s business model is to leverage its properties and technology to create shareholder value through generative exploration, joint ventures, and other exploration partnerships.
For further information please contact:
James Buskard
Vice President Corporate Development
Nevada Exploration Inc.
Email: info@nevadaexploration.com
Tel: 1 (888) 263 2110
Website: www.nevadaexploration.com
Wade A. Hodges, President & CEO, Nevada Exploration Inc., is the Qualified Person, as defined in National Instrument 43-101, and has prepared the technical and scientific information contained in this News Release.
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 release.
Cautionary Statement on Forward-Looking Information:
This release contains certain "forward-looking statements" including, without limitation, expectations, beliefs, plans and objectives regarding the potential transactions and ventures discussed in this release. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are the risks inherent in mineral exploration, the need to obtain additional financing, environmental permits, the availability of needed personnel and equipment for exploration and development, fluctuations in the price of minerals, and general economic conditions.
JD400
12 years ago
NVDEF Spruce Ridge to Drill Prime Targets Identified By VTEM Survey at Fletcher Junction Gold Property, Mineral County, Nevada
1 days 5 hours 24 minutes ago - ACCESSWIRE-TNW via Comtex
Norfolk County , Ontario - October 3, 2012 - Spruce Ridge Resources Limited (TSXV: SHL) ("Spruce Ridge") is pleased to report that the Company has received results of an airborne VTEM(R) time-domain electromagnetic survey over the Fletcher Junction property in the Walker Lake mining area of Nevada. Interpretation of the survey results has defined a series of targets, and diamond drilling to test selected targets is planned to start in October. The company is currently evaluating bids from drill contractors.
The Fletcher Junction property covers the northern extension of a mineralized trend that produced over 1.9 million ounces of gold in the Aurora mining district. However, bedrock on the property is covered with gravel, which is in turn covered with basaltic lavas that were erupted about 250,000 years ago from the Aurora Crater. Nevada Exploration Inc., the optionee of the property, from which Spruce Ridge can earn up to 85% interest by making $300,000 in payments, funding $2,600,000 in exploration over a 4-year period, and completing a feasibility report, recognized the potential of the property due to highly anomalous gold contents of water in natural springs seeping out from under the lava cover. Nevada Exploration Inc. has developed sophisticated sampling and analytical techniques to analyse natural waters for gold, and has used this technology to assemble a portfolio of properties on the basis of gold-in-water anomalies. In addition to the gold anomalies in water the Fletcher Junction property, mineralized, angular quartz float was found on the gravel terrace along the western edge of the lavas, which yielded assays of up to 90.5 grams per tonne (g/t) of gold and 324 g/t silver. A limited amount of reverse-circulation drilling by Nevada Exploration has intersected bedrock and confirmed the presence of alteration and anomalous gold, silver and pathfinder element values.
The first target to be drill tested is an interpreted paleo-hill, or bedrock high that appears to rise above the gravel layer, although it is still covered by lava. It has clearly been resistant to erosion, possibly due to silicification, which may be related to mineralizing processes. A 600 metre (2,000 feet) deep inclined diamond drill hole will test this intriguing target.
Another result of interpreting the VTEM(R) survey that was unexpected is that there is a continuous resistivity low in the bedrock running in a northerly direction from the Aurora mining district all the way through the Fletcher Junction property. It was initially anticipated that Fletcher Junction might be host to a mineralized cluster similar to that at the Aurora mining district. However, it now appears, on the basis of the geophysics, that there may be one continuous alteration system extending over 11 kilometres from the Aurora mining area to the north end of the Fletcher Junction property. Drill testing will of course be necessary to determine if this interpreted alteration system is associated with mineralization.
Technical information in this news release has bee prepared and/or reviewed by Colin Bowdidge, Ph.D., P.Geo., a Qualified Person as defined in NI 43-101 and a director of the company.
About Spruce Ridge Resources
Spruce Ridge Resources is focused on exploring the Fletcher Junction gold property in Mineral County, Nevada and the Kramer gold property in western Newfoundland. It has two gold properties in the Beardmore-Geraldton greenstone belt of northwestern Ontario, two uranium properties in Newfoundland and a 50% joint venture with US Silver & Gold Inc. The JV Property contains tailings with low grade gold and silver from the Drumlummon Mine in Montana.
JD400
12 years ago
One of the new developments that just emerged this week is Nevada Exploration Inc.'s (NGE:TSX.V) Grass Valley, Nevada, project, which was generated by an innovative technique called hydrogeochemistry that focuses on the gravel covered basins of Nevada. Groundwater is collected and tested for gold and all the various poisons, such as arsenic, antimony, thallium and mercury, which are normally associated with Carlin-style deposits. Where tests show a gold-in-groundwater anomaly, geologists can take a closer look at the bedrock underneath.
The interesting thing about the Grass Valley anomaly is that instead of striking northwest-southeast as is the norm within the Cortez Trend, the Grass Valley anomaly strikes southwest-northeast. This play is stunning because although it is within eyesight of the Cortez Hills deposit, it's in a geological setting where no one would think of wasting any money to explore. Yet, this new technique pointed to an anomaly that shows a 10- to 15-mile strike, a linear anomaly, likely associated with a hidden fault that appears to host an oxidizing gold deposit that is the source of the full set of Carlin-style elements.
McEwen Mining has elected to earn 70% by carrying the prospect generator 30% to a production decision. This is a high-stakes play, which could make a big difference for McEwen Mining itself, which is also developing a number of smaller deposits in Mexico and at the southern end of the Cortez Trend.
Full story here
http://www.mining.com/web/the-original-bottom-fisher-finds-high-risk-and-reward-in-nevada-2/
december
17 years ago
Nevada Exploration begins RC drilling at Fletcher
2007-11-12 08:35 ET - News Release
Mr. Daniel Pharand reports
NEVADA EXPLORATION INC. ("NGE") COMMENCES DRILLING AT FLETCHER JUNCTION, ACQUIRES ADDITIONAL LAND AND ANNOUNCES ITS ANNUAL SHAREHOLDERS MEETING
Nevada Exploration Inc. has started reverse circulation drilling operations started today at Fletcher Junction. Fletcher Junction is the property of merit described in NGE filing statement dated Feb. 16, 2007, produced as per National Instrument 43-101 and available on SEDAR.
Twenty drill sites have been permitted with the U.S. Forest Service. Up to 20, angle to vertical drill holes using a track-mounted reverse circulation drill are planned to maximum depths of 1,000 feet. The holes are located within an area of approximately 9,000 feet by 3,000 feet believed to source highly anomalous gold in groundwater flowing from beneath a 50- to 150-foot-thick cover of postmineral basalt. Operations have been planned not to be hampered by winter weather conditions so that the holes, averaging 600 feet deep, shall progress at the speed of 250 feet/day provided that difficult drilling conditions, mechanical problems and/or analytical delays are not encountered.
Land acquisition and exploration update
NGE currently controls mineral rights on nine properties through 1,479 unpatented mining claims staked on 41 square miles of BLM land and 3.5 square miles of leased private land. Staking of another 216 unpatented mining claims on another six square miles of BLM land is in progress and when complete will add another exploration property. NGE will then control more than 50 square miles of land in Nevada evidencing highly anomalous concentrations of gold in groundwater. Land acquisition is expected to continue on new exploration properties as identified by continuing reconnaissance groundwater sampling and on areas adjacent to some already acquired exploration properties.
Wade Hodges, chief executive officer of NGE, stated that: "NGE believes that the key to creating sustainable shareholder value lies in building a pipeline of exploration properties that all evidence highly anomalous gold in groundwater chemistry, to then use more conventional exploration methodologies as appropriate and to then drill them to effect discovery. Securing a drill rig to begin drill testing of each property has proven to be extremely difficult due to an industry-wide shortage of drillers and drilling equipment. However, with the start of drilling, NGE has passed another milestone toward turning good intentions into sustainable reality."
Annual report and shareholders meeting
NGE is also pleased to announce that it will hold a general and special meeting of its shareholders to take place on Nov. 30, 2007, 11 a.m. at the TSX Broadcast Center of the TSX Exchange Tower in Toronto.
Mr. Hodges is the qualified person, as defined in National Instrument 43-101, and is responsible for the preparation of the technical and scientific information contained in this press release.
We seek Safe Harbor.
Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.
Hot Features
Premium
