Regional Geologic Context
Features of exploration significance at the Sleeper gold deposit can be projected northward to NGE’s Awakening property. Furthermore, the groundwater at the Awakening property exhibits high concentrations of gold and associated trace elements in the same order of magnitude as those found in the groundwater at Sleeper. The prominent north, north-northeast, and northwest trending structural fabrics exposed in the vicinity of the Sleeper mine, and known to control mineralization at the mine and southward over a large area, show no signs of weakening to the north beneath the sand and gravel covering the Awakening property.
Structural basins containing preserved sections of relatively low-density volcanic host rocks are associated with geophysical gravity lows within the Sleeper mine area; NGE has identified similar gravity lows on the Awakening property. Hydrothermal alteration replaces primary mafic minerals, including magnetite, in host rocks and is closely associated with gold mineralization at the Sleeper mine. Rock subjected to Sleeper-style mineralization has less magnetic susceptibility and will appear as a magnetic low in geophysical air magnetic surveys. Air magnetic lows continue northward from the Sleeper mine in pre-mineral volcanic rocks onto the Awakening property and also coincide with gravity lows. Au, Ag and As geochemical anomalies in rocks and soils are most closely associated with precious-metals mineralization at the Sleeper mine, and Sb, Hg, Ba, Cu, Pb, Zn, Mo, Se, Fe, Mn, Co, NH4 and NO3 are locally anomalous over a broader area. Geochemically anomalous groundwater and clusters of anomalous soil samples coincide with geophysical anomalies to identify several target areas on the Awakening property similar in character, size and shape to the Sleeper open pit area.
- 5 km (3 miles) north of the Sleeper mining district, which is being explored and developed by Paramount Gold and Silver Corp (NYSE:PZG) (combined past production and resource: 3,400,000 oz Au & 14,300,000 oz Ag)
- 40 km (25 miles) north-northwest of the Sandman Deposit, which is under active exploration by Newmont Mining Corp (NYSE:NEM) through an agreement with Fronteer Gold Inc. (TSX:FRG) (310,000 oz Au resource)