Nevada Exploration Stakes Additional Claims at the Bull Creek Gold Project
June 15, 2009
Nevada Exploration Inc. (“NGE”) (TSX-V:NGE) is pleased to announce that it has added 96 additional claims (800 hectares, 2,000 acres) to its Bull Creek Property in Humboldt County, Nevada. NGE’s total land position at Bull Creek now consists of 367 claims (3,000 hectares, 7,500 acres). Bull Creek is located in Desert Valley, 60km (37mi) west‐northwest of Winnemucca, Nevada, in a geologic setting similar to that of the Sleeper Gold Mine, which is located approximately 23 miles across the valley towards the northeast.
During 2008, NGE completed an 18 hole Phase I drill program at Bull Creek. The Phase I program successfully intersected intervals of greater than 200m (650ft) of hydrothermally altered and geochemically anomalous volcanic bedrock in the covered and previously unexplored Bull Creek target. These results demonstrate that NGE has discovered a significant new hydrothermal system at Bull Creek that warrants Phase II drilling.
Both the alteration intensity and the geochemically anomalous trace-element geochemistry seen in the Phase I drill holes increase from west to east across the property, which suggests that they were sourced from the east. This interpretation is consistent with the detailed air magnetic and gravity geophysics at Bull Creek, which also suggest a fractured, north-south structural zone to the east of the Phase I drill holes. Together, the geochemical, geophysical, and geologic evidence suggest that the source of the anomalous geochemistry in the shallow, hydrothermally altered volcanic bedrock at Bull Creek is located beyond the eastern boundary of NGE’s original claim block. Based on this data, NGE has increased its land position to fully cover the developing Bull Creek target.
Wade Hodges, President and CEO: “We are encouraged by the Phase I results at Bull Creek. Here is another example where we have used our groundwater chemistry exploration technology to discover a high-quality exploration target in an otherwise blind, covered geological setting. With these additional claims, we’ve fully secured the Bull Creek target and we are now working to find an exploration partner for Phase II drilling.”
ABOUT NEVADA EXPLORATION INC.
NGE is an exploration company focused on gold in Nevada. NGE is led by an experienced and historically successful exploration management team. NGE has developed a proprietary groundwater chemistry exploration technology to explore for gold in Nevada’s covered basins where traditional exploration techniques are challenged. NGE has completed the first ever comprehensive survey of Nevada’s groundwater focused on discovering new gold deposits, and has demonstrated that Nevada’s gold deposits exhibit recognizable and measurable groundwater chemistry signatures. NGE has used its proprietary technology to identify, acquire, and develop 11 new exploration properties exhibiting groundwater chemistry similar to known gold mines, and NGE is applying a standardized, staged exploration program at each property.
NGE has completed Phase I drilling at three of its properties and has discovered new, previously unknown, geochemically anomalous, hydrothermal systems at all three. With these results, NGE has demonstrated that its groundwater chemistry exploration program can identify new, high quality exploration targets in previously unexplored areas. Now that NGE has established groundwater chemistry as a valuable and important exploration technology, NGE plans to focus on matching its drill-ready properties with exploration partners. By leaving the later, more-traditional exploration stages for our partners, NGE plans to focus on leveraging its investment in groundwater chemistry exploration technology to identify and advance more new exploration properties, and to establish itself as a source of high quality, drill ready exploration properties for the mining industry.
For further information please visit our website at www.NevadaExploration.com or contact:
Wade A. Hodges,
President, CEO & Director
Nevada Exploration Inc.
Tel: (775) 359-7740
Fax: (775) 359-7741
Wade A. Hodges is the Qualified Person, as defined in National Instrument 43-101, and is responsible for the preparation of the technical and scientific information contained in this News Release.
The TSX-V has in no way passed upon the merits and does not accept responsibility for the adequacy or accuracy of this press release.
Cautionary Statement on Forward-Looking Information:
This release contains certain "forward-looking statements" including, without limitation, expectations, beliefs, plans and objectives regarding the potential transactions and ventures discussed in this release. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are the risks inherent in mineral exploration, the need to obtain additional financing, environmental permits, the availability of needed personnel and equipment for exploration and development, fluctuations in the price of minerals, and general economic conditions. This presentation contains information about the Lone Tree and Marigold Gold Mines, which are ‘Adjacent Properties’ on which we have no right to explore or mine. All investors are cautioned that mineral deposits on adjacent properties are not proof of mineral deposits on NGE properties.