Tuesday 23rd October 2018

Resource Clips

Posts tagged ‘NSGold Corporation (NSX)’

Up north and Down East

February 20th, 2013

NSGold drills Nova Scotia, Northern Freegold reaches PEA in Yukon

by Greg Klein

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News from Nova Scotia shows open pit potential for the province’s oldest known gold mine, the Mooseland project. On February 20 NSGold Corp TSXV:NSX released a batch of assays from a 15-hole, 948-metre, near-surface West zone campaign. Some highlights include:

NSGold drills Nova Scotia, Northern Freegold reaches PEA in Yukon

Earlier core samples came from deeper drilling, while
Mooseland’s most recent campaign stayed above 75 metres.

  • 36.8 grams per tonne gold over 0.6 metres
  • 15.21 g/t over 1.7 metres
  • 9.93 g/t over 1 metre
  • 7.1 g/t over 1 metre
  • 6.25 g/t over 1 metre
  • 11.49 g/t over 1 metre
  • 8.44 g/t over 1 metre
  • 9.44 g/t over 1 metre
  • 18.76 g/t over 1 metre.

A 0.5 g/t cutoff grade was applied. True widths were estimated between 91% and 93%. The top-most interval started at 5 metres from surface while the deepest stopped at a down-hole depth of 79.4 metres.

Two of the 15 holes were abandoned after hitting historic workings. The other 13 “all encountered the expected, relatively sulphide-rich, quartz-bearing argillite zones,” NSGold stated. The West zone’s relatively shallow overburden and the geometry of the near-surface saddle veins are “of particular significance from a potential open pit mining perspective,” the company added. The West zone extends about a kilometre along strike. Unlike the most recent campaign, the zone was previously drilled at deeper depths.

Mooseland’s June 2012 resource estimate uses a 2.6 g/t gold cutoff showing:

  • a West zone inferred estimate of 1.46 million tonnes averaging 5.52 g/t gold for 259,000 gold ounces
  • an East zone inferred estimate of 1.06 million tonnes averaging 5.72 g/t for 195,000 ounces
  • a total inferred resource of 2.52 million tonnes averaging 5.6 g/t for 454,000 ounces.

Apart from drilling its flagship Mooseland project, NSGold last December announced gold-silver-polymetallic sampling at its Cheticamp property, also in Nova Scotia. In January the company optioned the Silver Hill property, a potential gold or gold-silver project in Nevada. The same month Phase II drilling began at the Dios Padre silver project in Sonora state, Mexico, by NSX Silver TSXV:NSY. A spinout of an NSGold subsidiary, NSX Silver holds Dios Padre under option from NSGold.

NSGold’s chart had flattened out at $0.085 since February 12, but slipped to $0.075 on February 20 before closing on $0.085 again.

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NSGold report NS Gold Assays including 122.15 g/t over 2.2m

April 19th, 2011

NSGold Corporation TSXV:NSX announced results from the Mooseland Gold Project in Halifax County, Nova Scotia. Assays include 122.15 g/t gold over 2.2 metres (including 243.73 g/t over 1.1 metres) and 36.93 g/t over 2 metres (including 61.18 g/t over 1.2 metres). Globex Mining Enterprises Inc TSX:GMX retains a 4% gross metal royalty and the right to receive shares equal to 5% of the issued stock of NSGold upon commercial production and an additional payment of $250,000 September 1, 2011.

The Mooseland Project has an historical, non-NI 43-101 compliant, indicated mineral resource estimate of 858,000 contained ounces gold.

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Glenn A. Holmes

by Ted Niles