Golden Metal Resources plc has identified Carlin-type* gold systems from rock sampling at the Golconda Summit project in the Walker Lane mineral belt, northern Nevada, USA.
DEPTH
The company aims to be the first to drill test fully the “multiple” prospective Lower Plate rocks below the project licence area.
These include the Antler Peak limestone, Edna Mountain and Preble formations which host such gold deposits.
Golden Metal collected 52 rock samples of which 11 returned more than 250 parts per million (or g/t) arsenic, with six returning >500ppm arsenic.
“Significant arsenic anomalism” is the main alteration element associated with Carlin-type gold systems, noted the company.
Both samples collected near the Trench Zone returned >500ppm arsenic.
The results further suggest the presence of a “feeder zone” and the possibility that a Carlin-type gold system may exist at depth within the project.
Chief executive officer Oliver Friesen added that Carlin-type gold systems represented globally important mineral deposits found almost exclusively within northern Nevada.
“The results presented today give further support that a significant Carlin-type gold system may be present within the project.
“With this important data now in hand we continue to work with our in-country geologist to develop and refine drill targets at Golconda.”
*Sediment-hosted disseminated gold deposits characterised by ‘invisible gold’ (typically microscopic and/or dissolved) in arsenic-rich pyrite and arsenopyrite and found only through chemical analysis. The Carlin mine was the first large deposit of this type discovered in the Carlin Trend, Nevada.