Nevada Pacific explores Bluebird gold property

Vancouver — Nevada Pacific Gold (NPG-V) has inked a deal to explore the Bluebird property, at the northern end of the Battle Mountain trend in Nevada’s Lander Cty.

The property consists of 10 unpatented mining claims near the BMX property, a joint venture between Nevada Pacific and Placer Dome (PDG-T).

Nevada Pacific and the owner of the Bluebird property have entered into a 10-year mining lease. The owner retains a 3% net smelter return royalty, of which 1.5% can be purchased by Nevada Pacific at any time for US$500,000 per percentage point.

Gold and silver mineralization is associated with north-south, northwest and northeast structures. Historic underground mining in the 1930s averaged 0.44 oz. gold and 2.77 oz. silver per ton. During the 1980s, several companies completed field work that traced the Bluebird structure for more than 800 ft. Highlights of previous drilling include hole 1, which intersected 20 ft. averaging 0.042 oz. gold and 2.61 oz. silver per ton. Another hole, no. 7, cut 50 ft. grading 0.136 oz. gold and 2.36 oz. silver starting from surface, followed by 130 ft. of 0.045 oz. gold starting at a down-hole depth of 200 ft. Another intersection, starting at 460 ft. down-hole, returned 30 ft. of 0.046 oz. gold and 0.84 oz. silver.

Chip sampling and geochemical exploration on the Bluebird property during the 1980s delineated a strong system of gold mineralization. The anomaly covered an area that measured 500-1,600 ft. wide and up to 3,400 ft. in strike length.

This 1980s program returned:

q 28 samples of 0.01-0.029 oz. gold per ton averaging 0.016 oz. gold;

q 26 samples of 0.03-0.099 oz. gold per ton averaging 0.057 oz. gold;

q nine samples of 0.1-0.249 oz. gold per ton averaging 0.168 oz. gold; and

q three 3 samples that assayed more than 0.250 oz. gold, averaging 2.87 oz. gold.

Thirty-two of the samples assayed in the range of 1-4.99 oz. silver per ton, and 12 additional samples returned more than 5 oz. silver.

Nevada Pacific says the Bluebird has potential for high-grade gold and silver mineralization underground, as well as low-grade open-pit zones — similar to such nearby mines as Lone Tree, Marigold, Fortitude, Phoenix, Surprise and Trenton Canyon.