NevGold (NAU.V) has been hitting the ground running at the Nutmeg Mountain project in Idaho. Although it only closed the acquisition of the project just a few months ago, the field crews are working hard to get the project drill-ready.

As part of the pre-drill exploration program, the company worked on a core relogging program and this led to the identification of an outcropping vein at surface, approximately 650 meters away from the resource calculation which was completed in 2020. Given the distance to said resource estimate, the potential for a lateral resource expansion seems real. According to the company, the outcropping vein has a width of approximately six meters and has been traced over a strike length of about 100 meters. As this area has never been drilled, NevGold is likely very keen on drill-testing this outcropping vein.

The now-completed core relogging program and surface mapping program also identified a high-grade core in the resource. This high grade area appears to be structurally controlled and as most historical holes drilled at Nutmeg were simple vertical holes, this structural zone has never been followed up on and NevGold will now likely chase the mineralization along strike and at depth to get a better understanding of the size and additional structural controls. Additionally, relogging of the historical drill holes has confirmed several veins that were encountered in the core remained unsampled.

Disclosure: The author has a long position in NevGold. NevGold is a sponsor of the website. Please read our disclaimer.

Leave a comment