Battle Mountain Gold Inc. Commences Exploration of Its Lewis Gold-Silver Property in North-Central Nevada
25 Juni 2014 - 3:00PM
Marketwired Canada
Battle Mountain Gold Inc. (the "Company") (TSX VENTURE:BMG)(OTCQB:BMTNF) is
pleased to announce that it has commenced exploration on its Lewis gold-silver
property. This 2,225 hectare (5,500 acre) land position lies directly adjacent
to the Fortitude open-pit of Newmont, near the town of Battle Mountain in
north-central Nevada (Figure 1:
http://media3.marketwire.com/docs/BMG_Fig1_Lewis13.pdf). As of December 31st,
2013(i), the combined reserves and resources of the Fortitude and other deposits
in the Phoenix mine complex contain 271 metric tonnes of gold (8.7 million troy
ounces Au), 3,614 metric tonnes of silver (116 million troy ounces Ag) and 1.03
million metric tonnes of copper (2.27 billion pounds Cu). The Company's Lewis
property consists of 7 patented and 360 unpatented mining claims. Historic
mining of gold, silver and base metals was accomplished along several
northerly-trending lode systems in the claim group.
The Company commenced exploration of the Lewis property in June. The planned
work program consists of detailed geological surface mapping (1:2,000 to
1:5,000-scale) and geochemical rock sampling, with an emphasis on the geometric
controls to gold-silver-and base metal-bearing fault and fracture systems. These
target structures cut across several rock formations that have properties
conducive to metals deposition, including the same formations that host ore in
the Fortitude mine, located directly to the south.
More than eight mineralized zones are recognized in the Lewis property (Figure
1). The best understood gold-silver systems to date include the Virgin, Buena
Vista and Trinity structural zones, which are open along strike and at depth. In
each of these mineralized systems there is evidence that higher gold grades are
related to the intersection of steeply-dipping, northerly-trending target
structures with northwesterly-trending cross-structures. The Virgin fault system
extends northwards from the Fortitude open-pit and has a strike-length of more
than 1200 m through the BMG claim group. Past drill-results from the Virgin
include 85.4 m at 2.23 g/t Au and 26.9 g/t Ag from 64.0 m, including 15.2 m at
9.02 g/t Au and 36.6 g/t Ag from 118.9 m (Madison Minerals, MAD-18); and 45.7 m
at 6.48 g/t Au from 61.0 m, including 6.1 m at 21.5 g/t Au from 73.2 m (MAD-31).
(i) See Newmont 2013 Annual Report filed on February 20, 2014
The Buena Vista fault system, located about 300 m to the west of the Virgin,
extends more than 1,300 m with near-surface drill-results of 7.6 m at 5.44g/t Au
and 69 g/t Ag from 12.2 m, including 3.0 m at 12.7 g/t Au and 691 g/t Ag from
12.2 m (MAD-64). Previous drilling has only tested the fault system to vertical
depths of typically less 100 m from surface. The Trinity structural zone is
characterized by gold-silver mineralization over a strike-length of more than
1,600 m in the property area. Some of the best drill-results in the limited
drilling completed to date include near-surface intercepts of 6 m at 3.5 g/t Au
in DAN 46 and 13.7 m at 2.4 g/t Au in DAN-57 from percussion holes completed by
Sante Fe Pacific in the northern part of the Trinity zone. The surface extents
of the mineralized Buena Vista and Trinity fault systems will be quantified by
geochemical soil and bedrock sampling programs in the latter part of 2014.
An airborne hyperspectral survey will soon be flown over the property and
adjacent areas (greater than 50 km2) to delineate the extents and
characteristics of hydrothermal alteration-related, clays, micas and iron-oxide
minerals that typically indicate zoning in gold-silver systems and proximity to
target structures. The survey will made using a light aircraft carrying a
ProSpecTIR(TM)VS instrument which has dual sensors that are capable of measuring
visible / near-infrared (VNIR) wavelengths of 400-1,000 nm and short-wave
infrared (SWIR) in the 1,000-2,500 nm wavelength range. The data will be
collected along flight lines spaced every 500 m with a minimum side-lap of 30%
and a pixel resolution of 2 m. The airborne results will be processed and
analysed by a trained geoscientist who will collect field data using a portable
spectrometer while accompanied by the BMG geologist conducting the mapping
program. In addition to the detailed hyperspectral surveys over the property,
ASTER satellite imagery will be analyzed for the entire Battle Mountain
district, which covers more than 350 km2. This style of combined hyperspectral
analysis has successfully delineated mineral zoning and directions to
ore-bearing structures in gold- and silver-bearing deposits elsewhere in Nevada
(e.g., Goldfield), Utah (e.g., Tintic District), Mexico (e.g., Fresnillo region)
and Chile (e.g., Los Chimberos).
The relogging of diamond drill-core and reverse-circulation (RC) drill-chips
from the company's past drill programs, which total 6,812 m core and 29,225 m
RC, will be undertaken for the Virgin and Buena Vista structural zones. The
results of past TITAN and IP-Resistivity surveys, conducted in 2003 and 2007 in
the southern portion of the property, will be reprocessed and imaged in
three-dimensions using present-day algorithms.
The improved understanding gained by the drill-hole relogging campaign and the
reprocessing of the geophysical data will be integrated with the results of the
geological mapping, geochemical rock sampling and hyperspectral surveys. This
integration of data will be used to create a three-dimensional model of the
gold-silver-base metal mineralization in the property area. The intersections of
prospective fault and fracture zones with one another and favourable rock
formations will be targeted and tested by a diamond-core drill program designed
to extend known zones of mineralization and discover new gold-silver-bearing
bodies.
Dr Steve Garwin, the Technical Director of the Company and previous Chief
Geologist for Newmont - Nevada (2000-2002), comments:
"The gold-silver-copper potential of the Battle Mountain district is exciting.
The Company's claim area shows systematic controls to high-grade mineralization
that can be delineated in three-dimensions and tested by well-located
drill-holes that have a high probability of success. The integration of multiple
sets of geoscience data collected by the Company and previous explorers will
increase our chances of discovery and allow us to better direct funds towards
future drilling. The proximity of the Virgin and Buena Vista structural zones to
the Fortitude open pit of Newmont is encouraging and indicates the resource
potential of these historic lode systems."
On May 14, 2014, Battle Mountain Gold Inc. (formerly Madison Minerals Inc.)
announced that it had completed its reverse takeover transaction (the
"Transaction"), as previously announced in press releases dated March 13, 2014,
April 22, 2014 and April 30, 2014 and more specifically described in its
information circular dated March 13, 2014, all of which are available on SEDAR
at www.sedar.com under the Company's profile. The Company has received final
approval of the TSX Venture Exchange for the Transaction.
Qualified Person
Steve Garwin PhD, FAIG, FAusIMM, FSEG and Director of Battle Mountain Gold Inc.
is a qualified person, as defined by NI 43-101. He is responsible for the
preparation of the technical information in this news release.
To find out more about Battle Mountain Gold Inc. please visit our website at
www.battlemtngold.com.
On behalf of the Board of Directors of BATTLE MOUNTAIN GOLD INC.
Chet Idziszek, President
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility
of the adequacy or accuracy of this release.
Cautionary Statement
This document contains "forward-looking statements" within the meaning of
applicable Canadian securities regulations. All statements other than statements
of historical fact herein, including, without limitation, statements regarding
exploration plans and our other future plans and objectives, are forward-looking
statements that involve various risks and uncertainties. Such forward-looking
statements include, without limitation, estimates of exploration investment and
the scope of exploration programs. There can be no assurance that such
statements will prove to be accurate, and future events and actual results could
differ materially from those anticipated in such statements. Important factors
that could cause actual results to differ materially from our expectations are
disclosed in the Company's documents filed from time to time via SEDAR with the
Canadian regulatory agencies to whose policies we are bound. Forward-looking
statements are based on the estimates and opinions of management on the date the
statements are made, and we do not undertake any obligation to update
forward-looking statements should conditions or our estimates or opinions
change. Forward-looking statements are subject to risks, uncertainties and other
factors, including risks associated with mineral exploration, price volatility
in the mineral commodities we seek, and operational and political risks. Readers
are advised not to place undue reliance on forward-looking statements.
FOR FURTHER INFORMATION PLEASE CONTACT:
Battle Mountain Gold Inc.
Chet Idziszek
President
604.331.8772
604.684.6024 (FAX)
www.battlemtngold.com
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