Canadian Junior Explorer Has Three Nevada Gold Projects Permitted & Ready to Drill

Peloton Minerals’(CSE: PMC; US-OTC: PMCCF) Boulder copper porphyry project in Montana may be one of the most interesting copper projects in the United States, but the junior explorer also has three promising Carlin style gold exploration projects on the Carlin and Long Canyon gold trends in Elko, Nevada: Independence Valley, Golden Trail, and Texas Canyon, and all three are permitted for drilling.

Independence Valley, which hosts the largest untested rhyolite dome in the historic Spruce Mountain mining district, is about 79 km southwest of the Long Canyon joint-venture project, owned by Newmont (NYSE: NEM) and Barrick (TSX: ABX; NYSE: GOLD). Golden Trail is 80 km north of Long Canyon and Texas Canyon is about 55 km to the north.

It took Peloton years to sift through dozens of potential prospects in Nevada before it settled on these three, says Ted Ellwood, Peloton’s president and CEO.

“Our criteria was geology, obviously, but also whether the prospect had the geological structure that could interest a major mining company,” he explains. “These three managed to survive the vetting process and they are now at the point where extensive surface work has been done on all of them. They are all great projects. They all have drill targets and are permitted to drill.”

At the 785-acre Independence Valley project, geophysical modelling of magnetic and CSAMT data in 2020 identified three structures within the rhyolite dome complex that are recommended for drilling.  

At the 909-acre claim package at Golden Trail, extensive surface exploration has identified Carlin style alteration, and Peloton believes the project shares geologic similarities with Newmont and Barrick’s Long Canyon.

The largest identified gold vein at surface, the Golden Trail vein, is over 1,200 metres long and has an associated alteration zone averaging 30 metres in width. Over 900 grab samples have been taken along the vein that have assayed up to 28 grams gold per ton. Continuous five foot trench samples yielded 13.7 grams gold per ton, with 36.2 grams silver per ton in one five-foot trench, and 3.49 grams gold per ton and 105 grams silver per ton in a second five-foot trench.

Peloton notes that according to a regional USGS survey, Golden Trail is underlain by a major gravity anomaly that the US agency interprets to be a shallow pluton or magmatic intrusion. A more recent Peloton gravity survey showed a change in gradient along the western boundary of the northwest striking gravity anomaly and a series of coincident surface hydrothermal alteration anomalies have been identified through hyperspectral airborne and surface technology and geochemical sampling.

A year ago, Peloton confirmed that these hydrothermal alteration anomalies extend to a vertical depth of at least 195 feet, with high temperature hydrothermal alteration minerals as well as anomalous gold and silver as well as pathfinder elements.

The next steps, the company says, will be to undertake two deep-penetrating geophysical programs to try to image the source of the mineralizing fluids and to plan a deeper drill program.

Work at the third project, the 909-acre Texas Canyon, has included detailed geologic mapping, surface sampling and geochemistry, as well as a surface magnetics survey, a surface radiometrics survey, an airborne hyperspectral survey and follow-up surface hyperspectral analysis of hydrothermal alteration anomalies.

Texas Canyon is centered on a broad zone of structurally controlled hydrothermal alteration, including decalcification and silica replacement of the limestone, localized along northeast-striking high-angle veins and in bodies of clast-supported polyphase hydrothermal breccial and adjacent hydrothermal replacement zones.

A primary target is a roughly circular radiometric geophysical anomaly coincident with polyphase breccia centered on the historic Prince uranium mine and anomalous in gold, molybdenum and uranium mineralization.

Peloton believes all three projects have great potential.

“They are all unique projects and all have good targets and there could be an ore body on all three of them to be honest,” says Ellwood, “but this is exploration and we’ve got to drill first.”

For now Peloton’s focus will be to find partners with which to joint-venture.

“They need some significant drill work done and I think rather than try to finance all three of them at once, we think now is the time to see if we can find some partners to take these projects to the next step and we’ve already got non-disclosure agreements on all of them.”

Disclaimer:

This website is owned, operated and edited by NXT.financial media. Any wording found on this website / media webpage or disclaimer referencing to “I” or “we” or “our” refers to NXT.financial media. Parts of this website and this page in particular are a paid advertisement, not a recommendation nor an offer to buy or sell securities. Our business model is to be financially compensated to market and promote small public companies. By reading our website / media webpage you agree to the terms of our disclaimer, which are subject to change at any time. We are not registered or licensed in any jurisdiction whatsoever to provide investing advice or anything of an advisory or consultancy nature and therefore are unqualified to give investment recommendations. Always do your own research and consult with a licensed investment professional before investing. This communication is never to be used as the basis for making investment decisions and is for entertainment purposes only. At most, this communication should serve only as a starting point to do your own research and consult with a licensed professional regarding the companies profiled and discussed. Companies with low price per share are speculative and carry a high degree of risk.  By using our service you agree not to hold our site, its editor’s, owners, or staff liable for any damages, financial or otherwise, that may occur due to any action you may take based on the information contained within our website.

This publication and their owners and affiliates may hold positions in the securities mentioned, which we may sell at any time without notice to our visitors, which may have a negative impact on share prices. NXT.financial media is paid fees to market public companies. Therefore, this communication should be viewed as a commercial advertisement only. We have not investigated the background of any third party or parties that have compensated us. Our web pages, communications, content and emails may contain forward-looking statements, which are not guaranteed to materialize due to a variety of factors

We do not guarantee the timeliness, accuracy, or completeness of the information on our website. The information on our website is believed to be accurate and correct, but has not been independently verified and is not guaranteed to be correct. The information is collected from public sources, such as the profiled company’s website and press releases, but is not researched or verified in any way whatsoever to ensure the publicly available information is correct. Furthermore, NXT.financial media often employs independent contractor writers who may make errors when researching information and preparing these communications regarding profiled companies. The information in our disclaimer is subject to change at any time without notice.