These surveys and sampling programs were undertaken over the summer months to define both surface and underground drilling targets across the potential CRD (Gold, Silver, Lead and Zinc) and
This first Phase of Drilling will consist of approximately 6600 feet (2012m) starting from the Diamond mine portal and targeting multiple intersections of the roughly 2-km long conductive anomaly, located directly beneath the old oxide gold, silver, lead and zinc historical stopes of the Diamond mine, that was located by the helicopter magnetotelluric (MT) survey carried out in June. A comprehensive gravity survey and drone based magnetic survey followed in July and August and the results of these two surveys were used to help develop the exploration model and drill targets. A limited Induced Polarisation (IP) survey carried out in September yielded a very strong chargeability IP anomaly that overlaps and extends upwards from the MT anomaly into the old workings area gives strong support to the MT anomaly.
'The team have developed a drilling plan that will target the heart of both the IP anomaly and the MT anomaly, and it can be carried out from a practical location near the mine's infrastructure,' said
Magnetotellurics is a passive electromagnetic system designed to measure resistivity/conductivity of the Earth and is especially useful for penetrating to deeper levels than comparable geophysical methods. The aim of the survey was to look for conductors beneath the water table that potentially represent the sulphide equivalents of the
The rocks surrounding the old oxide workings within the
About
The Property lies in the Battle Mountain Eureka trend, in an area known as the Southern
A Plan of Operations is in place which covers part of the Property (totalling 81 acres) and entitles an operator to pursue surface exploration, underground mining of up to 365,000 tons per annum and certain infrastructural works. It includes a permit to extract water from a well and to build water containment facilities.
About North Peak
The Company is a Canadian based gold exploration and development company that is listed on the
The Company recently acquired an initial 80% interest in the
The Company can give no assurances at this time that its properties and interests will fulfil the Company's business development goals described herein. Trading in the securities of the Company should be considered highly speculative.
Contact:
Tel: +1-647-424-2305
Email: info@northpeakresources.com
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
This news release includes certain 'forward-looking statements' under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, timing and completion of any drilling and work programs on the Property, estimates of mineralization from drilling and geophysical surveys, geological information projected from sampling results and the potential quantities and grades of the target zones, the potential for minerals and/or mineral resources and reserves, and statements regarding the plans, intentions, beliefs, and current expectations of the Property and the Company that may be described herein. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as 'may', 'expect', 'estimate', 'anticipate', 'intend', 'believe' and 'continue' or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur.
By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, accuracy of assay results, geological interpretations from drilling results, timing and amount of capital expenditures; performance of available laboratory and other related services, future operating costs, and the historical basis for current estimates of potential quantities and grades of target zones, as well as those risk factors discussed or referred to in the Company's Management's Discussion and Analysis for the year ended
The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
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