Acquisition Of Extension Of Jumbo Gold Zone And Discovery Of Gold Target At Gold Springs
VANCOUVER, BC - High Desert Gold Corporation has completed staking a further extension of the Jumbo Zone as interpreted from the ZTEM geophysical survey. The Company recently reported an initial inferred mineral resource of 173,000 oz. gold at 0.57 g/t and 3.88 Moz of silver at 12.9 g/t which equates to 233,000 gold equivalent ounces at 0.77 g/t AuEq, over a small portion of the then known Jumbo Zone. The Company has also completed staking on a new zone, the Midnight Extension. The Gold Springs project is a joint venture between HDG (60%) and Pilot Gold Inc. (40%) with HDG as the managing partner.
Ralph Fitch, President and CEO stated, "We are very pleased to have acquired these new claims in the Jumbo and Midnight Zone extensions. The ongoing interpretation of the ZTEM geophysical survey has allowed us to identify a number of targets within the Gold Springs District which have the potential to be large scale, bulk mineable gold deposits. Prior to this latest development, we had defined 18 individual target areas, with each having the potential to host gold mineralization. With the benefit of the interpretation of the ZTEM survey results, some of these targets have coalesced into two much larger targets, the Jumbo Extension and the Midnight Extension."
Ongoing interpretation of the ZTEM survey and surface geological and geochemical exploration show that the high resistivity rock units defined by the ZTEM have excellent correlation with known gold mineralization in the Gold Springs District. One of these high resistivity features extends for at least 8 km along the extension of the Jumbo Zone, of which only 700 metres has been drilled-to-date. Claim staking has been completed over this feature as outlined by the ZTEM survey and for 1.5 km north and 1.5 km south beyond the limits of the survey.
Staking has also been completed on a second major new zone (Midnight Extension) on the west side of the joint venture's property position in an area of thin gravel cover. The strike extent of this feature is approximately 6 km. This feature, which was also found through the ZTEM geophysical survey, includes several old shafts on its northern and southern ends but the majority of the central portion (approximately 4 km) is covered by a thin veneer of alluvial material and remains unsampled. Fifty-six samples of surface material, including outcropping mineralization, have been collected at the north end of the zone which contain greater than 0.1 gpt gold with a high value of 13.85gpt gold. At the south end in the area of the historical Midnight Mine, 34 samples contain values greater than 0.1 gpt gold with a high value of 19.58 gpt gold.
The Company has filed an additional 332 federal lode claims, significantly expanding the size of the Gold Springs Project. The addition of these claims brings the total land position to approximately 5,900 ha, an increase of more than 70%.
The Company continues to advance its permitting efforts for a drill program to be conducted in spring 2012. A permit has been obtained in Utah and applications are in progress in Nevada.
The company's address is 580 Hornby St., Ste. 880, Vancouver, BC V6C 3B6, 604-684-0683, fax: 604-684-0642.