Geophysical Surveys Continue To Identify New Drill Targets At Kinsley Mountain Gold Project

VANCOUVER - New Placer Dome Gold Corp. reported the completion of the first half of the 2021 induced polarization (IP) / resistivity geophysical surveys and currently underway at its flagship Kinsley Mountain Gold Project in Nevada.

The first phase of the 2021 IP/resistivity geophysical surveys infilled the area between the WFZ and Shale Saddle 2020 survey grids. There is a correlation between enhanced chargeability and drill confirmed high grade gold sulphide mineralization at the WFZ. At Shale Saddle, anomalous gold values were discovered on the periphery of a 500 by 250 meter untested chargeability anomaly.

Seven lines, totaling 30 km line, were completed during the first phase of surveying, extending the existing 2020 Shale Saddle grid north to connect and overlap with the south end of the WFZ grid. Chargeability anomalies were detected on all lines, coincident with modeled Secret Canyon shale rocks, the main host of high-grade sulphide gold mineralization at the WFZ and Secret Spot. The Company's 2020 drilling yielded high-grade gold sulphide intercepts from the Secret Canyon shale including: 10.2 g/t gold (Au) over 6.1 meters within a broader zone averaging 2.63 g/t Au over 38.1 meters in KMR20-017 at the WFZ; and 11.3 g/t Au over 2.9 m within a broader zone grading 3.81 g/t Au over 11.6 m in KMD20-006 at Secret Spot. Significantly, the two holes are separated by a 1.5-kilometer expanse of largely untested Secret Canyon stratigraphy.

Max Sali, CEO, said, "The number and quality of new Secret Canyon shale drill targets generated by the first phase of IP/resistivity surveying at Kinsley has far exceeded our expectations. High grade gold mineralization intersected during the Company's 2020 drilling at the WFZ and Secret Spot illustrate the substantial prospectivity of Secret Canyon shale rocks within the Project area. The results of the ongoing geophysical surveys will allow the Company to focus and prioritize drill targeting in its search for blind zones of high-grade gold mineralization within the vast areas of untested Secret Canyon shale throughout the Kinsley Mountain Project."