Announcement Date: 2022-07-05
Announcement Type: Drilling Results
Announcement Code: NI43-101
Company name: North Peak Resources ltd.
Project name: Black Horse
Location: United States
Commodities: Gold
Highlight: Drilling results incl. 9m @ 0.3g/t Au from 52m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: North Peak Resources Ltd. (TSX Venture: NPR) (the “Company” or “North Peak”) is providing an update on the work programs underway pursuant to its option to purchase the Black Horse gold property located near Ely Nevada (the “Black Horse Property”). In December 2021 the Company signed an agreement for the option with Minex LLC, and then obtained the necessary drilling permits. Following a review of the historical data of the 316 holes previously drilled, an 8-hole core drilling program to twin the main zones of the property and a 20-hole reverse circulation (RC) drilling program to test other zones were launched (see Appendix 1) Drilling campaigns by Minex in 1997-1998 drilled 316 RC holes that identified a mineralization zone that appears to have a strike length of two miles with drilling generally at 100-foot centers. Approximately 65% of the gold mineralization occurs in hydrothermally altered and micro-veined quartzite interlayered beds of mica schist in the Pre-Cambrian McCoy Creek group. Most of the gold mineralization in the quartzite appears to be stratiform and varies from 20-100 feet in thickness and following a major thrust structure – representing the conduit for gold fluids. The Cambrian Lincoln Peak limestone overlies the Precambrian McCoy Creek group and is in the thrust fault contact with the Precambrian McCoy Creek group. The historical drilling was interpreted to have intersected this 30 degree to 45 degree dipping mineralization but the mines were all on vertical to sub-vertical structures both in the limestone and in the quartzite. It is thought that at least some
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