Nevada Exploration Announces a New Phase I Drilling Program at the Shine Claims
October 4, 2010
Nevada Exploration Inc. (“NGE”) (TSX-V:NGE) announces a new Phase I drilling program on the Shine Claims within the Awakening project, north of the Sleeper Gold Mine in Humboldt County, Nevada. The goal of the drilling program is to test for hydrothermally altered and geochemically anomalous bedrock similar to that associated with the mineralization at the adjacent Sleeper Gold Mine.
NGE has a mining lease and option to purchase agreement on the 15 Shine Claims from DIR Exploration, Inc. The Shine Claims lie within NGE’s larger Awakening project, the rest of which is currently being advanced by Northgate Minerals Corp. under an exploration and option to joint venture agreement. To date, NGE has completed project scale geological mapping, groundwater chemistry, soil geochemistry, gravity geophysics, and air magnetic geophysics on the entire Awakening project. The combined dataset has delineated several compelling covered pediment targets on the Shine Claims. NGE plans to evaluate the prospectivness of the covered Shine Claim targets with approximately 1,500 meters (5,000 feet) of drilling and expects drilling to begin mid to late October.
Wade Hodges, President & CEO, explains: “We have systematically built an exploration dataset at the Awakening project and have clearly established that this is an important new pediment target area. The results to date have been encouraging and we are excited to take the project to the next step and collect bedrock samples from this otherwise covered area. This drilling program represents another opportunity for us to demonstrate that our proprietary groundwater chemistry exploration technology enables us to focus our resources on prospective targets exhibiting high concentrations of gold and other indicator minerals in groundwater. Our technology represents a considerable competitive advantage over other groups relying on conventional exploration methods to reduce Nevada’s 100,000 square kilometers of covered basins into discrete exploration targets.”
Nevada Exploration Inc.
Nevada Exploration Inc. is an exploration company focused on gold in Nevada. NGE has developed proprietary groundwater chemistry exploration technology to explore for gold in Nevada’s covered basins where traditional exploration techniques are challenged, and has completed the first ever comprehensive survey of Nevada’s groundwater focused on discovering new gold deposits. NGE has demonstrated that Nevada’s gold deposits exhibit recognizable and measurable groundwater chemistry signatures and NGE is using its proprietary technology to identify, acquire, and advance new exploration properties exhibiting groundwater chemistry similar to known gold mines.
For further information please contact:
Vice President Corporate Development
Nevada Exploration Inc.
Tel: (775) 359-7740
Wade A. Hodges, President & CEO, Nevada Exploration Inc., is the Qualified Person, as defined in National Instrument 43-101, and has prepared the technical and scientific information contained in this News Release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this 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.