This first exploration hole was drilled to the west from the easily accessible
'This initial drill hole was positioned to enable us to target the MT anomaly identified from an operationally efficient location in winter,' commented
PM23-001 was successful in intersecting several zones of pyrite, sphalerite, galena +- chalcopyrite mineralization in the projected area of the MT geophysical anomaly. Given the accompanying zinc rich and low gold nature of the massive sulphide mineralization intersected, it is thought that this hole intersected 'halo' style mineralization peripheral to larger, more conductive bodies that should have higher galena and gold further north in the system. These low lead-zinc ratios are indicative of distal halo mineralization; in surface soil sampling, higher lead-zinc ratios are intimately associated with historical workings and increase markedly to the north.
A BHEM survey is being undertaken to evaluate the optimal orientation for potential wedging of this hole, as it should help to identify the location of the best conductors (sulphides) relative to the position of the original hole.
North Peak previously released assay results from one historical hole (WS02) drilled in 2017 from surface at
Towards the end of PM23-001 (west of the underground workings), marbelization of the dolomite is present and granitic dyke was intersected. This could indicate a heat source for the fluids.
Prospect Mountain Geology and Mineralization
There are three styles of mineralization present in the Eureka district that includes
Review by Qualified Person, Quality Control and Reports -
All samples referenced herein were prepped by ALS Elko,
If the results are greater than 10ppm Au, then 30g Fire Assay Analysis (gravimetric finish) is completed. The Company's QA/QC program includes the regular insertion of blanks and standards into the sample shipments, as well as instructions for duplication. Standards and blanks are inserted randomly at one each per 20 samples (unless VG or extremely concentrated base metals is observed, where a blank is inserted in the following sample). 5% of samples will be sent to a second lab for referee. Core recovery averaged 92%.
About
The Property lies in the Battle Mountain Eureka trend, in an area known as the Southern
A Plan of Operations is in place, which covers part of the Property (totalling 81 acres) and entitles an operator to pursue surface exploration, underground mining of up to 365,000 tons per annum and certain infrastructural works. It includes a permit to extract water from a well and to build water containment facilities.
About North Peak
The Company is a Canadian based gold exploration and development company that is listed on the
The Company recently acquired an initial 80% interest in the
The Company can give no assurances at this time that its properties and interests will fulfil the Company's business development goals described herein. Trading in the securities of the Company should be considered highly speculative.
Contact:
CEO
Tel: +1-647-424-2305
Email: info@northpeakresources.com
Web: www.northpeakresources.com
Director
Tel: +1-647-424-2305
Email: info@northpeakresources.com
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS: This news release includes certain 'forward-looking statements' under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, timing and completion of any drilling and work programs on the Property (including, without limitation, related to any wedge holes that may be drilled from PM23-001), estimates of mineralization from drilling and geophysical surveys, geological information projected from sampling results and the potential quantities and grades of the target zones, the potential for minerals and/or mineral resources and reserves, and statements regarding the plans, intentions, beliefs, and current expectations of the Property and the Company that may be described herein. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as 'may', 'expect', 'estimate', 'anticipate', 'intend', 'believe' and 'continue' or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur.
By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, accuracy of assay results, geological interpretations from drilling results, timing and amount of capital expenditures; performance of available laboratory and other related services, future operating costs, and the historical basis for current estimates of potential quantities and grades of target zones, as well as those risk factors discussed or referred to in the Company's Management's Discussion and Analysis for the year ended
The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
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