Nelson Resources (ASX:NES) advances Gold Point exploration with extended high grade gold-silver mineralisation in Nevada

Nelson Resources has reported additional high grade gold-silver mineralisation from detailed geological and structural mapping at its Gold Point Project in Nevada, with the latest work confirming mineralisation beyond the historic workings and across multiple mineralisation styles.

The company said the results are being integrated with mine rehabilitation, underground access development, geophysics and 3D modelling ahead of its maiden underground drilling program.

Highlights

• Mapping confirmed additional high grade mineralisation beyond the historic workings, including 12.3g/t Au and 296g/t Ag from quartz vein material and 15.15g/t Au, 43.2g/t Ag and 0.278% Cu from silicified skarn mineralisation.
• Nelson said high grade mineralisation has now been identified in intrusion-hosted quartz veins, skarn-style mineralisation and vein material beyond the historically mined gold-silver system.
• Garnet-pyroxene-wollastonite skarn mineralisation has been traced for more than 850m along the contact between the Sylvania Intrusive Complex and Wyman Formation sedimentary units.
• The company has staked an additional 26 claims over the southern extension of the Sylvania Intrusion ridge, including ground containing historic tungsten and copper workings.
• Mapping results are being incorporated into underground drilling preparation activities, including mine rehabilitation and target refinement.

The mapping program targeted areas distal to the historic high grade workings and included 28 samples collected within and adjacent to the Sylvania Intrusion.

Nelson stated that the work confirmed and extended the 3 main mineralisation styles previously reported at Gold Point, including intrusion-hosted quartz veins, fault-hosted and brecciated vein material, and skarn-style mineralisation developed along the contact between the Sylvania Intrusive Complex and Wyman Formation sedimentary units.

Among the reported assays, quartz vein material returned 12.3g/t Au and 296g/t Ag from sample C239929, while brecciated quartz vein material returned 2.78g/t Au and 162g/t Ag from sample C239930.

The company also reported 15.15g/t Au, 43.2g/t Ag and 0.278% Cu from silicified skarn mineralisation in sample C239914. Elevated bismuth, molybdenum, tellurium and tungsten values were also reported in several samples.

Nelson stated that the known skarn footprint has increased relative to previous work and has now been traced for more than 850m.

The company said the latest skarn result represented an uplift from previous sampling in similar mineralisation, which had returned 1.73g/t Au and 139g/t Ag in sample M676292, and 1.2g/t Au and 34.7g/t Ag in sample M676293.

The company also reported that the Gold Point district has historically produced approximately 75,000oz Au at reported grades of 20g/t to 30g/t Au, with production derived from 4 of 15 currently mapped high grade gold-silver veins.

Nelson said the district has now been consolidated under a single owner for the first time in more than 140 years.

Additional claims have been staked over the southern extension of the Sylvania Intrusion ridge and its contact with Wyman Formation sedimentary units.

According to the company, the newly staked ground includes the Ora Mae Tungsten Mine and North Star Prospect.

Preliminary sampling from the area returned assays including 7.05g/t Au from sample C239928 and 3.7g/t Au, 150g/t Ag and 0.36% Cu from sample C239866.

Non-Executive Chairman Gernot Abl said the latest work supported Nelson’s interpretation of the project.

“These results are another strong step forward for Nelson at Gold Point. The latest mapping shows that high-grade mineralisation extends well beyond the historic mine area and occurs across multiple styles, reinforcing the scale and quality of the system.”

Nelson said mapping data is being integrated into its 3D structural and lithogeochemical model to refine drill targets within the Orleans and Great Western vein systems.

The company stated that rehabilitation of historic underground workings is expected to support shorter drill holes, improved drill angles and greater targeting precision compared with a surface-only program.

Planned work also includes underground LiDAR surveys, systematic channel sampling and multi-element geochemical analysis.

The Gold Point Project is located within the Walker Lane region of Nevada, which the company noted has reported production of more than 40Moz Au across multiple deposit styles.

Nelson currently holds the right to earn up to a 90% interest in the project.

—

Click here to view the latest ASX news.

Subscribe to The Day’s Play for daily ASX insights and capital markets updates.

Please note the following valuable information before using this website. 

Independent Research 

Market Open Australia is intended to be used only for educational and informative purposes, and any information on this website should not be taken as investment advice or guidance. It is important to conduct your own research before making any investment decisions, which should be based on your own investment needs and personal circumstances. Any investment decisions based on information contained on this website should be taken in line with independent financial advice from a qualified professional or should be independently researched and verified.