NevGold (NAU.V) has more than doubled the size of its Cedar Wash gold exploration project in Nevada through staking available claims, which for sure is the easiest and cheapest option to expand a certain land position. The total size of the project is now almost 40 square kilometers and contains all the prospective targets identified by the company in the Cedar Wash district.
NevGold is quite lucky to be able to add these new claims to its existing land package, as it can immediately start to use the existing data on the property to figure out the next drill targets. As you can see in the image at the top of this update, there are historical mapping and soil and rock chip sampling results available while McEwen Mining even completed a small drill program on the new areas. That drill program encountered for instance 10.7 meters of 0.75 g/t gold and 17.1 meters containing 0.62 g/t gold with all gold mineralization starting close to surface.
Cedar Wash now hosts multiple drill targets, and NevGold plans to start its maiden drill program at Cedar Wash in the last quarter of this year, and it will be interesting to see if the company is able to replicate some of the thicker intervals and continue to expand the mineralized areas as it works towards putting a maiden resource estimate together.
Disclosure: The author has a long position in NevGold. NevGold is a sponsor of the website. Please read our disclaimer.
