Humboldt County, Nevada
Work to Date:
- The Hot Pot Project is located along the Battle Mountain - Eureka Gold Trend, approximately 8 km (5 miles) east of Newmont's Lone Tree mine (+5,000,000 oz Au), and 9 km (6 miles) north-northeast of Goldcorp's Marigold mine (+4,000,000 oz Au).
- NGE identified the Hot Pot Project as a direct result of its groundwater chemistry exploration program. NGE secured the target with a mineral lease from a private land owner and by staking unpatented mining claims.
- NGE has completed geochemistry, geophysics, and Phase I & II drilling at Hot Pot, and has discovered a completely covered gold bearing hydrothermal system similar in size and ore controlling features to the nearby Lone Tree and Marigold mines.
- In 2009, NGE and International Enexco Ltd. (TSX.V:IEC) signed an Exploration and Option to Enter Joint Venture Agreement, whereby Enexco can earn a 51% interest in the Hot Pot Property by drilling 6,000 meters (19,600ft) over three years, with the option to earn an additional 19%, for 70% total, by drilling another 3,000 meters (9,800ft) during the fourth year.
- In 2009/2010 Enexco completed 3,462 meters (11,300 feet) of core drilling at Hot Pot. Enexco's wide-spaced drilling encountered shallow, hydrothermally altered bedrock, and weak, but widespread anomalous gold.