NxGold Provides Exploration Update on the Mt. Roe Project

/ Investing News Network / By

By Ashley Cowell

Figure 1: Stream sediment sample locations with indication of presence of gold grains (yellow indicates presence of visible grains, black no visible grains). Four digit numbers are sample reference numbers, Red numbers are gold values in ppb Au. (CNW Group/NxGold Ltd.)

NxGold Ltd. (TSXV:NXN) (“NxGold” or the “Company”), is pleased to provide an update on its 2018 exploration program at the Mt. Roe Project located in the Pilbara region of Western Australia.

Figure 1: Stream sediment sample locations with indication of presence of gold grains (yellow indicates presence of visible grains, black no visible grains). Four digit numbers are sample reference numbers, Red numbers are gold values in ppb Au. (CNW Group/NxGold Ltd.)
Table 1: Stream Sediment Sample Assay Results with Qualitative Sample Information. (CNW Group/NxGold Ltd.)
Table 1: Stream Sediment Sample Assay Results with Qualitative Sample Information. (CNW Group/NxGold Ltd.)
Table 2: Rock and Chip Sample Results from Preliminary Mapping and Phase I Trenching. (CNW Group/NxGold Ltd.)
Table 2: Rock and Chip Sample Results from Preliminary Mapping and Phase I Trenching. (CNW Group/NxGold Ltd.)

Figure 1: Stream sediment sample locations with indication of presence of gold grains (yellow indicates presence of visible grains, black no visible grains). Four digit numbers are sample reference numbers, Red numbers are gold values in ppb Au. (CNW Group/NxGold Ltd.)Table 1: Stream Sediment Sample Assay Results with Qualitative Sample Information. (CNW Group/NxGold Ltd.)Table 2: Rock and Chip Sample Results from Preliminary Mapping and Phase I Trenching. (CNW Group/NxGold Ltd.)

Highlights:

  • The Company has recently received and compiled all assay results from the preliminary mapping and Phase I trenching programs and the laboratory analyses from the stream sediment samples (see News Release August 08, 2018).
  • Selective sample of vein structure in Specimen Area returned visible gold up to 102.2 g/t gold and 12.7 g/t silver.
  • Sample results from the follow-up mapping and Phase II trenching programs remain pending.
  • Additionally, the Company has initiated a detailed 566-line kilometre UAV magnetics and orthophoto survey covering both the Prinsep and Sholl tenements of the Mt. Roe Gold Project.

Christopher McFadden, Chief Executive Officer commented, “Our phased approach to evaluating the Mt Roe properties continues to support gold being shed from the Mt. Sholl ridge. The stream silt samples are defining key portions of the ridge with the potential to host gold mineralisation. The identification of vein structures in the ‘Specimen Area’, Dryblower area, and 80oz area among others, supports the existence of primary gold mineralisation on the property. With the addition of the UAV geophysical survey we continue our methodical approach towards a discovery.”

Highlights from the preliminary mapping and Phase I trenching program are listed in the table below, descriptions of each area follow with a full results table appended.

Area SampleID Au g/t Ag g/t Cu % note
Specimen 18SH024 102.2 12.7 – Selective sample of structure; visible gold
Specimen 18NX004 0.992 – – 1m horizontal chip across inferred structure approximately 10m from 18SH024
Dryblower 18SH001 0.215 – – Selective sample of 5cm wide vein in shear in Dryblower gully; all samples in this area are above background
Dryblower 18SH010 0.394 15.2 1.54 <0.1m wide, +13m long vein in shear zone
Conglomerate 18SH012 0.017 ~1.5m chip across thickness of upper pebble conglomerate-quartzite bed

Highlights of the assay results from the stream sediment sampling program.

Area SampleID Visible grains # gold grains Au (ppb) note
80oz area 2135 N 0 470 In area of known nugget collection
North 2144 N 0 427 New area
80oz area 2139 Y 4 411 In area of known nugget collection
Dryblower 2104 Y 6 240 In area of known nugget collection
Ridge 2115 Y 3 156 In area of epithermal veining
Breccia Dyke 2122 Y 4 154 In area of known nugget collection

The preliminary mapping program resulted in the collection of twenty-eight property wide distributed samples consisting of eleven quartz vein samples, five breccia samples and twelve lithological type samples with minor veining or mineralisation. Sample results ranged from below detection limit to 70 parts per billion (‘ppb’). Three rock samples, NXS0003, NXS0020 and NXS0021, in the ’80oz Area’ returned the values …read more

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