“ Traditional exploration methodologies work well where bedrock is exposed, but are challenged where bedrock is covered. Approximately half of Nevada’s bedrock is exposed, and much gold has been discovered there. There is likely an equivalent amount of gold remaining to be found in Nevada’s covered half, but new exploration technology is needed to find it.
NGE has developed innovative proprietary exploration technology to test directly for gold in covered bedrock environments using a sampling medium that to date has largely been ignored: groundwater. When groundwater flows near a concealed, covered gold deposit, it retains a unique kind of chemical “memory” or “scent” of the encounter. NGE uses its proprietary technology to identify the unique groundwater chemistry scent associated with gold mineralization and to follow it back up-stream to search for its potentially gold-bearing bedrock source.
Groundwater chemistry is an important emerging exploration technology. When used alone in covered bedrock settings, conventional exploration technologies are risky. Groundwater chemistry exploration technology reduces exploration risk by focusing conventional exploration on areas most likely to contain large, near-surface, oxidized gold deposits. NGE is the first to apply modern groundwater chemistry exploration technology in Nevada and is currently advancing a portfolio of properties exhibiting groundwater chemistry similar to that found at Nevada’s major gold mines.
Once NGE has used groundwater chemistry to identify exploration targets, the Company then applies a staged exploration program to delineate and test prospective drill targets. NGE’s risk managed exploration program is designed to test targets quickly. Properties that show promise are advanced, properties that don’t are dropped. Once NGE has demonstrated that a property exhibits gold mineralization, NGE works to partner with well funded and technically competent groups to move the property through the later stages of development.”
Wade Hodges, M.Sc.
President, CEO, and Director
Mr. Hodges is a former director and the former Vice President for Exploration for Battle Mountain Gold Exploration Corp. He has over 30 years experience in field exploration, including 13 years as Exploration Geologist and Sr. Exploration Manager of Santa Fe Pacific Gold Corporation (now Newmont Mining Corporation). Mr. Hodges has had extensive involvement in the initial discovery and pre-mine development of nine gold mines in the western US, totaling over 30 million ounces of gold.
The Awakening Gold Project - Humboldt County, Nevada
Size/Ownership: 432 Unpatented Mining Claims owned 100% by NGE (3,590 Hectares) - Subject to 3% NSR
- Gravity Geophysics
- Air Magnetic Geophysics
- Soil Geochemistry
“The Awakening Project is located approximately 53 km (33 miles) north-northwest of Winnemucca, Nevada, and 5 km (3 miles) north of the Sleeper Gold Mine. The fault zones and host-rock geology that control the gold mineralization at the Sleeper Gold Mine continue northward to Awakening along the same range front geologic setting.
NGE identified elevated gold and trace elements in the groundwater at Awakening during its reconnaissance groundwater chemistry sampling program. The Awakening Project is a fully covered pediment target that has seen limited exploration to date. NGE secured the target by staking unpatented mining claims, and leasing 15 unpatented mining claims.”
|The Optimal Margin of Safety pattern?|
Very seldom do we see major technological advancement's in the field of gold exploration. The same old story of stake claims, sample, geophysics, drill & repeat is a recurring theme in the gold exploration industry. I've often wondered why (apart from Peñasquito) more major gold discoveries have not been made since the beginning of the current gold bull market? A possible explanation may be that we have not properly adapted the way we systematically go about searching for a major discovery. When exploration programs were being funded by major companies (drilling 40,000 ft at $75 per foot) - a $3,000,000 exploration drilling program was a "ripple in the pond" on the balance sheet. In today's environment a $0.10 incubator stock would have to issue 30,000,000 shares (and likely 60,000,000 on a fully diluted basis) to do a $3,000,000 round of financing. With this at stake you better be right on where you're drilling.
This is where technology and arguably more importantly the way we think of gold exploration becomes so important. Some of the names that have changed the way we think of gold exploration (in particular in the state of Nevada) include; Ralph Roberts, John Livermore & (as many of our readers know) Ken Snyder. Please see bio's below:
"Ralph Roberts - was an American geologist and research scientist with the USGS. He is credited with the discovery of the Carlin and Battle Mountain Gold Belts, which make up the richest gold-mining region in Nevada as well as the United States."
"John Livermore - is an American geologist who has discovered or helped to discover four major gold deposits in northern Nevada. The Carlin deposit, from which the current Nevada gold-mining industry grew, was his first discovery. In 1961, after reading an article by Ralph J. Roberts, Alignment of Mining Districts in North-Central Nevada, and then hearing a talk by Roberts, Livermore, then a Newmont Mining geologist, pursued Roberts' theory to track down the 4 million ounce gold ore body now known as the Carlin Mine. The entire Carlin Trend has now produced well over 50 million ounces of gold."
"Ken Snyder - PhD, P.Geo, has over 28 years of national and international exploration experience directed toward the discovery and mining of precious, base metal and mineral deposits. Highlights of his career include the discovery of the Templemore Lead-Zinc Deposit in the Republic of Ireland and the discovery of the Rex Grande gold vein in Nevada, which became known as the Ken Snyder Mine and is currently in production with Newmont Mining. As a mineral exploration geologist, Dr. Snyder specializes in the planning, design coordination and implementation of mineral exploration programs."
With the discovery of 30,000,000 ounces of gold should Wade Hodges name and methodology be considered as part of this list?
After being introduced to the story at the California Resource Investment Conference in Palm Spring's we are initiating coverage on (and are shareholders of) Nevada Exploration Inc. (TSX.V: NGE | US: NVDEF).
As always - please do your own due diligence.