Regional Geologic Context
The Kelly Creek property is located just north of NGE’s Hot Pot property and both are located several miles from the nearest outcropping rocks and completely covered by sand and gravel. Gravity, air magnetic, seismic and drill data all show the sand and gravel cover over Hot Pot to be shallow with gravity data over the Kelly Creek property showing similar patterns consistent with the extension of shallow bedrock northward from the Hot Pot project area. Bedrock over large areas is likely located only a few hundred feet below surface. Rocks exposed in the ranges surrounding the gravel-filled basin show evidence of a long lived and complex metamorphic, sedimentary, volcanic and igneous history. The structural history is just as long-lived and complex. The property is located along the NNW-trending Battle Mountain – Eureka mineral lineament, lies just west of the NNW-trending northern Nevada rift (air magnetic lineament), and is crossed by the NE-trending Midas structural trend. Several multi-million ounce gold deposits are located in the nearest exposed rocks to the north, west and south along the surrounding range fronts, which demonstrate the importance of the region in localizing large, gold-bearing hydrothermal systems.
- 8 km (5 miles) northeast of the Lone Tree Mine, which is being mined by Newmont Mining Corp (NYSE:NEM) (combined past production and resource: >5,000,000 oz Au)
- 13 km (8 miles) north of the Marigold Mine, which is owned by Goldcorp Inc. (TSX:G) and Barrick Gold Corp (TSX:ABX) (combined past production and resource: >4,000,000 oz Au)
- 22 km (14 miles) south-southeast of the Turquoise Ridge/Getchell Mine, which is owned by Barrick Gold Corp (TSX:ABX) and Newmont Mining Corp (NYSE:NEM) (combined past production and resource : >15M oz Au)
- 24 km (15 miles) south of the Twin Creeks Mine, which is being mined by Newmont Mining Corp (NYSE:NEM) (combined past production and resource: >15M oz Au)
- 14 km (9 miles) south-southeast of the Pinson Mine, currently owned by Barrick Gold Corp (TSX:ABX) and Atna Resources Ltd. (TSX:ATN) (past production: >1M oz Au)