Exploring Three Gold Projects in Nevada
Peloton Minerals Corporation (CSE:PMC, OTCQB:PMCCF) is a junior exploration company developing shareholder value by acquiring and enhancing exploration prospects through managerial experience and technical expertise. The company has three gold exploration projects located in eastern Elko County, Nevada, as well as one in Montana.
Peloton Minerals’ Independence Valley project is being explored by their joint venture partner Kinross Gold Corp. (TSE:K;NYSE:KGC;FWB:KIN2), who has the option to earn a 75 percent interest in the property. The property resides on the southern extension of the Carlin gold trend and hosts the largest untested mineralized rhyolite dome complex in the Spruce Mountain mining district. Kinross and Peloton Minerals are planning a drill program on the property in 2019.
Peloton Minerals’ second project, Golden Trail, is located on the northeastern margin of the Long Canyon gold trend which is defined by Newmont Goldcorp Corp.’s (NYSE:NEM) Long Canyon project. Golden Trail is a sediment-hosted disseminated gold prospect and includes the Golden Trail vein which extends over 1,200 meters in length at surface and is associated with an alteration zone that is approximately 30 meters wide. Additionally, continuous five-foot trench samples taken across the vein returned 13.7 g/t gold and 36.2 g/t silver in one trench and 3.49 g/t gold and 105 g/t silver in another. Peloton Minerals has recently released an updated NI 43-101 technical report on the property.
The company’s third project, Texas Canyon, is located approximately five miles west of its Golden Trail property and features a strong Carlin-style alteration anomaly identified at surface through an airborne hyperspectral survey. Moving forward, Peloton Minerals is compiling technical data in preparation for issuing an NI 43-101 technical report on the property.
Peloton Minerals also owns the Silver Bell-St. Lawrence (SBSL) project in Montana. The company has signed an agreement with Frederick Private Equity Corporation (Frederick PEC) who has the option to earn a 75 percent interest in the property. To earn its interest in the property, Frederick PEC is expected to make annual option payments and spend US$2 million in exploration over six years. The SBSL project hosts two past-producing mines that may be contiguous to one another.
Peloton Minerals Company Highlights
- Operating in mining-friendly jurisdiction of Nevada.
- Kinross is funding exploration at Independence Valley.
- Independence Valley projects hosts the largest untested rhyolite dome complex in the Spruce Mountain Mining District.
- The sediment hosted disseminated gold Golden Trail project offers strong exploration potential.
- The main Golden Trail vein cuts broad areas of alteration and mineralization and extends over 1,200 meters in length with an associated alteration zone approximately 30 meters wide.
- Continuous five-foot trench samples taken across the main surface vein returned 13.7 g/t gold and 36.2 g/t silver in one trench and 3.49 g/t gold and 105 g/t silver in a second.
- Strong Carlin-style hyperspectral alteration anomaly at surface at Golden Trail and Texas Canyon.
- Led by a strong and experienced management team.
- Management, insiders and private European investors notably hold about 75 percent of the company’s shares.