Nevada Exploration Inc. Consolidates Land Position 

 

VANCOUVER - Nevada Exploration Inc. (NGE) has added another 102 new claims covering 712 hectares (1,760 acres) to its Kelly Creek Basin land position. This is in addition to the 76 new claims covering 550 hectares (1,360 acres) announced last month. With the addition of these new claims, NGE now controls more than 9,445 acres within the Kelly Creek Basin.

The Kelly Creek Basin is located along the Battle Mountain - Eureka Gold Trend, and is bounded by multi-million-ounce gold deposits to the north (Twin Creeks, Getchell, Turquoise Ridge, and Pinson) and south (Lone Tree, Marigold, Trenton Canyon, Converse, Buffalo Valley, Copper Basin, and Phoenix) - together representing more than 70 million ounces of gold along the periphery of the Basin. Despite its close proximity to world-class mineralization, the interior of the Kelly Creek Basin has seen limited systematic exploration activity to date because its bedrock is largely covered by sand and gravels.

Recognizing the potential to find significant gold mineralization within the Kelly Creek Basin, dozens of major and junior explorers, including Santa Fe Pacific, BHP, and Placer Dome, have spent tens of millions of dollars exploring this area. Other companies that either now hold or have held claims in the immediate area include Newmont, Barrick, AngloGold, Hemlo, Homestake, and Kennecott. The efforts of each company have added valuable information about the geology of the Basin; however, without a cost effective tool to conduct basin-scale exploration beneath the valley cover, the exploration programs to date in the Kelly Creek Basin have predominantly consisted of unsystematic and uncoordinated efforts focused on relatively small areas.

NGE has developed its groundwater chemistry exploration technology specifically to complete large-scale exploration for gold in Nevada`s covered basins. NGE is now using this technology to map the elevated concentrations of gold in groundwater along the major structural corridor beneath the Kelly Creek Basin that connects the multi-million-ounce gold deposits to the north and to the south.

To facilitate the exploration in covered bedrock settings, NGE has purchased a truck mounted drill platform for a small-diameter reverse circulation drilling rig. This tool represents the logical evolution of the Company's under-cover exploration program in Nevada. NGE has been using its own direct-push equipment to collect groundwater chemistry samples in the surface to 200-foot depth range to focus the targets and direct land acquisition. With the addition of its own small-diameter reverse circulation drill rig, NGE will now be able to collect multiple groundwater samples from the same hole to better characterize the third dimension of the groundwater regime, plus important overburden and bedrock samples to characterize the geochemistry from the surface to 400-plus feet.