{"id":10964,"date":"2022-11-10T03:23:25","date_gmt":"2022-11-10T03:23:25","guid":{"rendered":"https:\/\/economicherald.net\/?p=10964"},"modified":"2022-11-10T03:23:25","modified_gmt":"2022-11-10T03:23:25","slug":"gold-50-picks-up-historic-gold-mine-in-nevada","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=10964","title":{"rendered":"Gold 50 picks up historic gold mine in Nevada"},"content":{"rendered":"<p>US-based Gold 50 has picked up the high-grade historic White Caps Mine in Nevada \u2013 which produced more than 125,000 ounces at around 30g\/t gold.<\/p>\n<p>Mined ore grades ranged from 33g\/t to 79g\/t gold over 6m to 9m widths and grades increased with depth, with the cross-cut on the lowest mine level (400m) assayed 10m at 94g\/t.<\/p>\n<p>The company is confident there\u2019s potential for thicker zones of mineralisation around historic workings as zones containing &lt;10g\/t gold which were often ignored and not mined.<\/p>\n<p>Plus, historical soil geochemistry indicates White Caps is part of a large mineralised system as it is within a gold-arsenic-mercury anomaly that is 1.2km-long; and a gold-silver soil anomaly that is 8km long.<\/p>\n<p><a href=\"https:\/\/stockhead.com.au\/company\/gold-50-g50\/\"><strong>Gold 50 (ASX:G50)<\/strong><\/a> now has the exclusive option to purchase the Project over a 10-year term (from execution of the Agreement) by making staged payments up to US$10m \u2013 the first being US$500k.<\/p>\n<p>The vendors retain a 2.0% net smelter return (NSR) royalty.<\/p>\n<h2>Premier gold mining jurisdiction<\/h2>\n<p>The White Caps project area covers 10 km2 with 28 patented claims and 74 unpatented claims, and MD Mark Wallace said it\u2019s a unique opportunity to secure a poorly tested Carlin-style gold system that hasn\u2019t been actively explored since the 1990\u2019s.<\/p>\n<p>\u201cThe White Caps Mine is a significant historical Nevada gold mine located only 15km south of the Round Mountain Gold Mine owned by Kinross which still has ore reserves of 3 million ounces after producing more than 15 million ounces,\u201d he said.<\/p>\n<p>\u201cNevada is the premier gold mining jurisdiction as it produces around 5% of the world\u2019s gold and it is notable that Tier 1 mining companies such as Freeport, Rio Tinto and Newcrest have all increased their exploration in Nevada over the past year. Freeport drilled the White Caps Project during the early 1980\u2019s.<\/p>\n<p>\u201cWhite Caps is the most prospective property within Nevada\u2019s Manhattan Mining District and Gold 50 has a unique opportunity to secure a poorly tested Carlin-style gold system where ore grading more than an ounce per tonne was mined.\u201d<\/p>\n<p>Pic: White Caps is the most prospective property within Nevada\u2019s Manhattan Mining District<\/p>\n<h2>Next steps<\/h2>\n<p>G50 has two exploration targets for the project. Exploration Target 1 is at open-pittable depths and is based primarily on historical drilling ranges from 110,000 to 290,000 ounces at grades ranging from 2.5 to 3g\/t gold.<\/p>\n<p>And Exploration Target 2 is based primarily on unmined mineralisation in underground workings and ranges from 50,000 to 270,000 ounces at grades ranging from 7 to 25g\/t gold.<\/p>\n<p>The plan is to commence geophysical and soil geochemistry programs as well as integrate existing datasets to refine the geological model before drill testing.<\/p>\n<p>Depending on the results of the extensional and exploration programs, the company is planning infill drilling to allow a maiden Mineral Resource to be estimated.<\/p>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p><em>This article was developed in collaboration with Gold 50 Limited, a Stockhead advertiser at the time of publishing. <\/em><\/p>\n<p><em>\u00a0<\/em><\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n<p><span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/resources\/gold-50-picks-up-historic-gold-mine-in-nevada\/\">Gold 50 picks up historic gold mine in Nevada<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>US-based Gold 50 has picked up the high-grade historic White Caps Mine in Nevada \u2013 which produced more than 125,000 ounces at around 30g\/t gold. <a href=\"https:\/\/economicherald.net\/?p=10964\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":10965,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-10964","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Gold 50 picks up historic gold mine in Nevada - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=10964\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gold 50 picks up historic gold mine in Nevada - Economic Herald\" \/>\n<meta property=\"og:description\" content=\"US-based Gold 50 has picked up the high-grade historic White Caps Mine in Nevada \u2013 which produced more than 125,000 ounces at around 30g\/t gold. 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