Permits arrived in time to take advantage of daylight in June and July.
North Peak Resources Ltd. announced that a drill rig has been mobilized to the Prospect Mountain North area within the Prospect Mountain property in Eureka, Nevada and drilling will commence this week.
In preparation for the drilling program, the Company completed another rock chip sampling campaign in April 2024 that focused on the historic mine infrastructure that exists in the area.
The highlights:
- Industry Tunnel, where drilling will commence, recorded a chip sample of 20.5 g/t (0.66 oz/t) Au.
- Dead Broke Mine: Produced high silver values, up to 911 g/t (29.2 oz/t) Ag, with up to 4.9 g/t (0.16 oz/t) Au.
- Samples from the Dead Broke landfill contained up to 7 g/t (0.22 oz/t) Au and 265 g/t (8.5 oz/t) Ag.
- Duke Mine: The area around which high silver values of up to 655 g/t (21 oz/t) Ag, with up to 4.4 g/t (0.14 oz/t) Au, were found.
- Madrid Mine: small in operation, but had up to 2.5 g/t (0.08 oz/t) Au and 158 g/t (5.1 oz/t) Ag.
“Permits have been received in time to take advantage of daylight in June and July and drilling should be up and running this weekend,” said Brian Hinchcliffe, President and CEO.
Hinchcliffe noted that there are a number of interesting holes pointing to the historic high-grade mines at Prospect Mountain North.
The samples were mainly gossan (oxidized sulfide ore) extracted from the walls of old pits accessed through historic tunnels.
While grab samples taken from dumps are not indicative of in-situ grades and are often “poor quality” minerals left behind by historic miners, they do provide a useful guide to the composition and grade of the near-surface mineralization present on the Property.
North Peak Resources is using this data to complement and confirm the extensive historical rock mining database compiled in the 1990s by Homestake on the Property, comprising a total of 614 samples.
The combined databases will be used in conjunction with previously reported sampling data contained in the October 18, 2023 and January 31, 2024 news releases, and geophysics, to assist in continuing to determine near-surface drill targets on the Property.
