EQS-News: North Peak Announces Next Stage of Drilling at Prospect Mountain North
Source: EQS
The drill has finished the preliminary testing of the Industry and The Wabash area was the focus of a comprehensive drilling campaign of 27,618 ft (8,418m) reverse circulation (RC) drilling campaign in 1999 by European American Resources. Historical intersections by European American Resources include:
NOTES: grams per tonne=g/t; metres=m; using a 0.5 g/t Au minimum composite grade, and up to 25 feet internal dilution @ 0.01 g/t Au (1725 intersections are just anomalous zones identified for exploration); true thickness is unknown until orientations are proven; these drill hole results are pre-NI 43-101 and they do not meet the current standards of exploration quality assurance and quality control protocols-twinning of holes will be necessary. See the Technical Report (defined below) for full details of the historical drill results referenced above. The holes will be up to 900 feet in length, with several angled to test interpretation as well as a couple to twin historical intersections (see Figure 2). Multi-element assays of the RC drilled holes indicates anomalous antimony and high arsenic and relatively low lead and zinc, consistent with the historical smelter observations, suggesting that the mineralization is of the "Intermediate" style noted in the area with mainly Figure 1: Plan of Prospect Mountain North area with fault structures, historical workings & tunnels, rock grab samples, historic drill hole collars and proposed drill holes To view an enhanced version of this graphic, please visit: Figure 2: Cross Section of Historical Wabash drilling, looking North, with key historical intersections highlighted, historical workings and revised interpreted mineralization trend To view an enhanced version of this graphic, please visit: Review by Qualified Person, Quality Control and Reports Mr. 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. A more complete description of 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. For further information, please contact:
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS: This press 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, sampling and geophysical surveys, geological information projected from drilling and 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. Neither the To view the source version of this press release, please visit https://www.newsfilecorp.com/release/216157 Click on, or paste the following link into your web browser,to view the associated documents http://www.newsfilecorp.com/release/216157News Source:
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Language: | English |
Company: | |
ISIN: | CA6614441096 |
EQS News ID: | 1944489 |
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1944489 11.07.2024 CET/CEST