Battle Mountain Gold (NYSE) is exploring for the yellow metal on its Morning Glory project in east-central Idaho.
The major can earn a 60% interest in the property from Formation Capital (VSE) by spending US$1.5 million.
Mineralized zones will be confirmed and potentially expanded by means of geological mapping and soil and rock sampling, while two main targets are subjected to a 10-hole program of reverse-circulation drilling.
Previous drilling returned fracture-controlled gold mineralization in Precambrian metasiltites and monzogranites, a geological setting similar to FMC Gold’s nearby Beartrack deposit. Results include intersections of 160 ft. grading 0.049 oz. gold per ton, 225 ft. grading 0.032 oz. and 50 ft. grading 0.044 oz.
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