When markets search for nuggets of good news amid the gloom of a pandemic which weighs on markets, where better to look than the gold patch?
Vancouver-based New Placer Dome Gold Corp. (TSX-Venture: NGLD) kept the tradition in tact by telling investors it has commenced the highly anticipated new discovery drill program of up to 20,000 metres at the Kinsley Mountain Gold project in Nevada (which is, ironically, known as the "Silver State").
The program is focused on new high-grade discovery targets and on expansion of Secret Canyon shale-hosted mineralization at the Western Flank zone, which hosts a 1.25-million-tonne indicated mineral resource containing 265,000 ounces gold grading 6.61 g/t gold.
Even so, NGLD believes there is significant upside potential for new high-grade gold discoveries and for expansion of the footprint of known mineralization and contained resources at Kinsley.
Concurs CEO Maximilian Sali, "This drill program at Kinsley marks the beginning of what could be a game changer for our company. Since we announced the definitive agreement to acquire Kinsley back in December of 2019 our team could not wait to get the drills turning on this sleeping giant. We are focused on finding high-grade new discoveries in a gold environment never seen before."
Shares in NGLD raced higher seven cents, or 10%, to 77 cents, on 351,000 shares.
