Exploration and development are in full swing at Consolidated Nevada Goldfields’ (TSE) Nixon Fork project in west-central Alaska.
The company has completed about 1,800 ft. of advances on two declines known as the Crystal Garnet and Mystery declines. Additionally, 431 ft. of access drifts, drifts in mineralized zones and crosscuts have been completed on four orebodies — the Garnet Deep, Garnet Low, Old Crystal and M-700. Consolidated Nevada has also released results from its ongoing surface and underground drill programs.
Three surface holes intersected a new zone of mineralization between the Crystal garnet and Mystery orebodies. The best intersection from this drilling averaged 0.85 oz. gold per ton over 22.5 ft. Exploration in this area will continue later this year.
Underground drilling on the Mystery decline continues to intersect high-grade mineralization in the Endoskarn extension zone. The best result from three holes averaged 7.29 oz. gold over 6.5 ft.
Consolidated Nevada hopes to complete 3,000 ft. of underground development and 20,000 ft. of drilling by mid-September.
In a disappointing development, the company has lowered its reserve estimates for the Barite Hill and Aurora gold mines in South Carolina and Nevada, respectively. Reserves have dropped by 21% at Barite Hill and 23% at Aurora.
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