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Location:
Humboldt County, Nevada
Size/Ownership:
TOTAL: 3,710 Hectares (14.3 miles2) JV/Option Status:
Not Available Work to Date:
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Project Summary
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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.
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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.
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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.
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NGE has completed soil geochemistry, air magnetic geophysics, and gravity geophysics surveys across the property and has delineated several highly prospective targets within this largely unexplored property.
- In 2010, NGE and Northgate Minerals Corp. (TSX:NGX) signed an Exploration and Option to Enter Joint Venture Agreement, whereby Northgate has the option to earn an initial 51% interest in NGE's claims at Awakening by spending $4,100,000 in exploration expenditures and making additional cash payments totalling $436,000 over five years. Northgate's exploration commitment in the first year is $500,000. If Northgate completes the initial 51% earn-in, it may earn an additional 14%, for a total of 65%, by completing a feasibility report on the Property. The Northgate Agreement does not include the 15 Shine Claims leased from DIR Exploration.
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