Eclipse hits oxide gold at Hercules in Nevada

The first phase of drilling at Eclipse Gold Mining’s (TSXV: EGLD; US-OTC: EGLPF) Hercules gold project within the Walker Lane trend, 40 km southeast of Reno in Nevada, has returned long intercepts of shallow gold in oxides.

The drill highlights include 75 metres of 0.54 gram gold per tonne and 4.78 grams silver per tonne (0.6 gram per tonne gold-equivalent) starting at surface from the Cliffs target as well as 90 metres of 0.65 gram gold and 12.51 grams silver (0.81 gram per tonne gold-equivalent) and 60 metres of 0.59 gram gold and 6.74 grams silver (0.68 gram per tonne gold-equivalent) from the Hercules target.

“The Hercules gold project in Nevada is beginning to take shape as an exciting new gold district in Nevada, and we are delighted with these drill results being in hand so quickly after listing in February 2020,” Michael Allen, the company’s president and CEO, said in a news release.

Eleven of the 12 reverse circulation drill holes completed as part of this first phase of drilling returned oxide gold mineralization. These were completed at the Hercules, Northeast, Loaves, Cliffs and Rattlesnake targets, all of which returned gold assays.

In addition, Eclipse indicated that the mineralizing system at Hercules appears to strengthen to the south, with the gold mineralization potentially similar to that at other large-scale low sulphidation epithermal gold-silver systems within the Walker Lane trend.

“Evaluating these drill results allowed us to develop a model suggesting the presence of a mineralized system that is strengthening to the south, potentially expanding the footprint of mineralization beyond what we had previously envisioned,” Warwick Board, the company’s vice-president of exploration, said. “This is in addition to the gold targets outlined following the consolidation of several historical databases for the property, the scale and tenor of which was confirmed by our drilling.”

One hole also identified a potential new target with follow-up work planned. Eclipse is currently working to finalize its next steps for the site with plans for a near-term geophysical survey to identify any potential extensions of the gold mineralization.

Eclipse Gold Mining’s 85-sq.-km Hercules property includes a total of seven target areas, five of which have been drilled to date. The company has identified a higher-grade core at the Hercules target.

The Hercules property has been explored in the past by multiple operators and features a database of over 200 drill holes. The company has a Plan of Operations permit in place, allowing for up to 200 drill sites. Historical metallurgical results suggest that the mineralization may be amenable to heap leaching.

The company started trading on the TSX Venture Exchange in February. At press time in Toronto, the junior was trading at 86¢. Since listing it has traded within a range of 41¢ and 95¢ per share.

— This article first appeared in our sister publication, Canadian Mining Journal.