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Nevada Exploration Inc. (OTCQB: NVDEF) and Astro Resources NL have forged a Strategic Alliance to enhance epithermal gold projects in Northern Nevada. The alliance allows Astro to access Nevada Exploration's extensive database covering a million-acre area, enabling them to identify exploration targets. Astro commits to investing US$1.4M over two years, with a right to acquire exploration projects under standard earn-in agreements. The partnership aims to leverage advanced undercover exploration technology developed by Nevada Exploration, which has identified significant undiscovered gold potential beneath Nevada's valley basins.
Nevada Exploration Inc. (TSX-V:NGE; OTCQB:NVDEF) has resumed its Phase 3 drilling program at the South Grass Valley gold project in partnership with Drill NV Inc. The focus is on the East Golden Gorge target, aiming to uncover gold mineralization. Drill NV will handle the technical risks, allowing NGE to focus on geology. The company leverages new data from previous drilling to enhance geological understanding and expects to update stakeholders regularly on drilling progress. The project, located in a gold-rich region, remains an exploration target with uncertain potential for mineral resource delineation.
Nevada Exploration Inc. (NVDEF) has announced a strategic drilling partnership with Drill NV Inc. for its South Grass Valley gold project. Under the agreement, Drill NV will perform up to 31,000 feet of core drilling at $185 per foot, with a deposit of $1,433,750 to secure specialized drilling tools. NGE will pay Drill NV 50% in cash, 25% from the deposit, and 25% in shares. This partnership aims to reduce drilling risks and lower marginal drilling costs, allowing NGE's team to focus on geology as drilling begins in about a month.
Nevada Exploration Inc. (OTCQB: NVDEF) provided an update on its 2021 drilling program at the South Grass Valley gold project. The first hole, SGVC012, reached 1,405 metres, revealing intense Carlin-type alteration and a significant interval (96 metres) with high concentrations of Carlin-type pathfinders. A second hole, SGVC013, is underway, although drilling is paused due to personnel availability. The company aims to secure a second drill rig and extend the expiry date of over 5 million share purchase warrants by an additional year, enhancing its financial flexibility for ongoing exploration activities.
On June 17, 2021, Nevada Exploration Inc. (OTCQB: NVDEF) announced the successful closing of its non-brokered private placement, issuing 36,538,460 units at $0.13 per unit, raising gross proceeds of $4.75 million. This exceeded the initially expected $3.25 million. The funds will be used to advance the South Grass Valley project, which targets Carlin-type gold deposits. The company plans to return to monthly updates during drilling operations, with significant progress reported so far. However, all securities are subject to a four-month hold period.
Nevada Exploration Inc. (OTCQB: NVDEF) announced the launch of its interactive 3D VRIFY model for the South Grass Valley project and provided updates from its ongoing 2021 core drilling program. The first drill hole, SGVC012, has confirmed Carlin-type alteration and significant structural features at a depth of about 1,300 metres. The company plans to drill SGVC013 further south along the structural corridor. Stakeholders can view the model and updates through VRIFY's platform, enhancing transparency and data accessibility for exploration activities.
Nevada Exploration Inc. (OTCQB: NVDEF) has initiated its 2021 drilling program at the South Grass Valley project, targeting gold mineralization at East Golden Gorge. This area is characterized by a newly discovered Carlin-type mineral system within the Water Canyon structural corridor. CEO Wade Hodges highlighted the potential of this district-scale system, comparable in size to Barrick's Goldrush deposit. The company plans to conduct approximately 10 drill holes to assess the intensity of mineralization and will provide monthly updates on progress, assays, and geologic findings.
Nevada Exploration Inc. (TSX-V:NGE; OTCQB:NVDEF) has completed the permitting process for new drill sites and signed a contract for a deep-capacity diamond core rig at its South Grass Valley Carlin-type gold project. Drilling is expected to start around March 1, 2021. The company aims to demonstrate gold concentration increases by exploring key geological structures. Initial drill depths will reach up to 1,200 meters, utilizing a Longyear LF-230 drill rig. To enhance stakeholder engagement, NGE will implement VRIFY's geologic data visualization platform for drilling updates.