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Geologist Wayne Hewgill on Pilot Gold’s Western Flank target. The company announced the discovery of a new Carlin-style gold zone at depth, beneath the known mineralization on Western Flank, back in 2013.
The “Drill Tracker” highlights early stage drilling and trenching results, giving a metric to evaluate exploration results and compare them against their peer group. In this report we highlight a dozen exploration companies displaying their projects in the Core Shack at the AME BC Roundup held in Vancouver between January 26 and 29, 2014.
Pilot Gold (TSX:PLG)
Price: $1.13
Market cap: $123 million
Cash estimate: $24 million (September 2014)
Project: Kinsley Mountain
Country: Nevada, US
Ownership: Pilot Gold owns 79 percent; Nevada Sunrise Gold (TSXV:NEV) owns 21 percent
- In late 2013, Pilot Gold announced the discovery of a new Carlin-style gold zone at depth, beneath the known mineralization on the Western Flank target at the Kinsley Mountain project in Nevada. The company holds a 79-percent interest in the project, with the remaining 21-percent interest held by a subsidiary of Nevada Sunrise Gold.
- Highlights from the currently small, but high-grade, Western Flank include:
- Discovery hole – 36.6 meters at 8.53 g/t gold
- including 7.6 meters at 29.43 g/t gold
- 42.7 meters at 10.5 g/t gold
- 53.3 meters at 7.53 g/t gold
- 29 meters at 21.3 g/t gold
- Discovery hole – 36.6 meters at 8.53 g/t gold
- The mineralization at Kinsley Mountain appears to be related to the intersection of a NNE-SSW structural zone, with a NW-SE structure focusing mineralization within the upper Candland Shale and the recently discovered (2013) Secret Canyon formation. The occurrence of deeper mineralization highlights the potential to discover additional mineralization along the deep structural zones intersecting the receptive lithological horizon.
- Preliminary metallurgical work released in January 2015 indicates that the high-grade Western Flank mineralization is amenable to producing a high-grade concentrate with initial overall recoveries from the four samples ranging from 89 to 95 percent. The process is testing a combination of flotation and leached tails.
Project status: New gold discovery November 2013
Resource: Non-reported historical resource
Catalysts: Additional drilling
Disclosure: I, Wayne Hewgill, certify that the information in this report is sourced through public documents that are believed to be reliable, but accuracy and completeness as represented in this report cannot be guaranteed. The author has not received payment from any of the companies covered in this report.
At the date of this release the author, Wayne Hewgill, owns shares in the following companies:
This report makes not recommendations to buy sell or hold.
Wayne Hewgill is a geologist with extensive knowledge of the global mining industry gained through 30 years of diversified experience in mineral exploration and new business development in Canada, as well as 10 years living in Africa, New Zealand and Australia. He was previously senior research officer at BHP Billiton, an executive with an exploration company working in Argentina and a mining analyst at three Vancouver-based financial groups where he developed the Drill Tracker database in 2006. He holds a B.Sc. in Geology from the University of British Columbia and is registered as a Professional Geoscientist (P.Geo) with APEGBC.
