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Nevada Exploration and Austin Gold Complete Earn-In Agreement at Kelly Creek Gold Project, Nevada

Published: July 9, 2020 |

[Click image to enlarge]

Nevada Exploration (NGE) has executed the definitive exploration and option to enter joint venture agreement with Austin Gold Corp., led by former Pretium Resources CEO Joe Ovsenek, on its district-scale Kelly Creek Project within the Kelly Creek Basin in north-central Nevada. Under the Agreement, Austin has the right to earn a 51 percent interest in the joint venture by spending $5,000,000 over four years, of which $1,000,000 is a firm commitment, with the election to then earn an additional 19 percent by delivering a prefeasibility study. Austin has also completed a $500,000 private placement into NGE.

“Kelly Creek is one of only a handful of district-scale Carlin-type gold projects not currently controlled by the majors. SSR Mining’s recent drilling success at nearby Trenton Canyon highlights the potential to discover new mineralization within the Battle Mountain Mining District, and is bringing new attention to the area,” said Austin’s Executive Chairman, Joe Ovsenek.

“Now that the definitive agreement is signed, we’re looking forward to working with Nevada Exploration to integrate their comprehensive exploration dataset with the latest research on the district, and we’re gearing up to get on the ground,” added Ovsenek.

“Kelly Creek is the first place we integrated our full suite of hydrogeochemistry exploration technologies to evaluate a highly-prospective, valley basin to search for new district-scale Carlin-type mineral systems. As we’ve shared, we believe the combined results of our drilling, geophysics, and geochemistry programs have confirmed the presence and necessary scale of the critical components needed to host significant Carlin-type mineralization, and suggest that the gold-bearing mineral system at Kelly Creek is a likely northern, covered extension of the system responsible for mineralization at the nearby Marigold and Lone Tree deposits,” said NGE’s President, James Buskard.

“With our current focus on our flagship South Grass Valley Project, we’re pleased to partner with such an experienced and technically capable team to continue to advance Kelly Creek through the next stages of exploration. This partnership gives our stakeholders the significant benefit of participating in multiple opportunities for discovery as both projects advance in parallel,” added Buskard.


About Nevada Exploration Inc.
With mature, exposed search spaces seeing falling discovery rates, NGE believes the future of exploration is under cover.

The company has spent 15 years developing and integrating new hydrogeochemistry (groundwater chemistry) and low-cost drilling technology to build an industry-leading, geochemistry-focused, under-cover toolkit specifically to explore for large new Carlin-type gold deposits (CTGDs) in the more than 50 percent of Nevada where the bedrock is hidden beneath post-mineral cover. Nevada’s exposed terrains have produced more than 200 Moz of gold, and experts agree there is likely another +200 Moz waiting to be discovered under cover in Nevada.

NGE has completed the world’s largest hydrogeochemistry exploration program, focused on north-central Nevada, and is now advancing a portfolio of three district-scale projects in the heart of the Cortez (Battle Mountain-Eureka) Trend.

NGE’s most-advanced project is South Grass Valley, located south of Nevada Gold Mines’ Cortez Complex. Based on the company’s work to date at the project, NGE believes it has discovered a mineral system at South Grass Valley with the architecture and scale to support multiple Carlin-type gold deposits (CTGDs), and the potential to host an entire new district. NGE believes South Grass Valley is one of the most exciting new district-scale, Carlin-type projects in Nevada.

To stop by Nevada Exploration’s website, CLICK HERE


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