Partners Romarco Minerals (CDN) and Uranerz USA are so encouraged by recent exploration of their Nike gold propety in Nevada that they are already planning follow-up work for 1996.
The 315-claim property lies in the state’s hot Battle Mountain trend.
The recent work was carried out by operator Uranerz on the pediment portion of the property. In addition to gravity and airborne magnetic surveys, Uranerz completed enzyme leach soil geochemistry and 10 mud rotary drill holes totalling 4,760 ft. Five of the holes encountered calc-silicate alteration, with the best intersection averaging 0.05 oz. gold per ton over 40 ft. Another hole returned anomalous gold and copper values over 185 ft.
According to Romarco, the Nike property has the potential to host two types of deposits: mineralized fault zones similar to those found at the nearby Lone Tree mine; and sediment-hosted zones similar to those found at the Marigold mine.
For the current year, Romarco plans to double its exploration budget to US$500,000.
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