SALT LAKE CITY, UT / ACCESSWIRE / August 4, 2020 / Northern Minerals & Exploration Ltd. (OTC PINK:NMEX) is pleased to provide the following update on NMEX's Winnemucca Gold & Silver Property.
Recent field sampling has returned high grade surface assays of up to 5.3 g/t gold and 180 g/t silver on an area of Winnemucca Mountain not previous inspected by the company. The following assays are from grab samples taken from historic workings on Winnemucca Mountain. Assay results are:
|Sample #||Au ppm*||Ag ppm*|
*1ppm = 1 gram
This area of the Winnemucca Mountain covers many historic workings including the Pride of the Mountain, 3A Hill, Gossan tunnel and Gold Hill. From initial mapping by the company of the area of the Pride zone vein system alone appears to be about 1500 feet long and up to 200 feet wide. The addition of the Gossan Tunnel zone to the northwest effectively doubles the strike length. With historical newspaper records discussing the numerous shallow high grade gold and silver mining operations in this area NMEX could find no evidence of recent exploration.
Based on the high grade assays received by NMEX additional claims have been staked to cover this area of Winnemucca Mountain increasing our land position to over 2800 acres.
NMEX plans are to aggressively target this and other areas of Winnemucca Mountain to define further drills targets and continue exploration to evaluate areas of the mountain as potential mineable deposits especially with the current gold and silver prices
Noel Schaefer, COO of NMEX, stated, "With prices for gold and silver continuing to strengthen, increasing our land position and focus on our Nevada gold property we at NMEX look to increase value for our shareholders.
Gold closed on Monday, August 3, 2020 at $1,976.87 per ounce. Some analysts speculate gold could go to $3,000 within the next 18 months.
About Winnemucca Gold & Silver Property:
The Winnemucca Mountain Gold and Silver Property covers an area of over 2,800 acres, located in Humboldt County, in northwestern Nevada. Humboldt County is the second largest gold producing county in the United States and hosts numerous past and producing gold mines. The Property is located near the northern end of the highly productive Battle Mountain-Eureka mineral trend and is underlain by Triassic sediments cut by several phases of Cretaceous- Jurassic intrusives and Tertiary volcanic rocks.
These deposits, along with the Sleeper, Sulphur-Hycroft, Goldbanks, Blue Mountain, Sandman, and other precious metals deposits located along the western splays and associated fault-fracture zones of the mid-Miocene (Tertiary) Northern Nevada Rift, define an important epithermal province in northwestern Nevada
NMEX has an option to acquire an 80% interest in the Winnemucca Gold and Silver Property in Humboldt County, Northern Nevada.
Northern Minerals & Exploration ("NMEX") is an emerging publicly traded company focused on oil and gas exploration & production, gold & silver exploration in Nevada & real estate development projects in Mexico.
Contact: Noel Schaefer
Email: [email protected]
Forward Looking Statements: Statements which are not historical facts contained in this release are forward looking statements that involve risks and uncertainties, including but not limited to, the effect of economic conditions, the impact of competition, the results of financing efforts, changes in consumers' preferences and trends. The words "estimate," "possible," "seeking," and similar expressions identify forward-looking statements, which speak only to the date the statement was made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, because of new information, future events, or otherwise. Future events and actual results may differ materially from those set forth herein, contemplated by, or underlying the forward-looking statements. The information herein is subject to change without notice. Northern Minerals & Exploration Ltd. shall not be liable for technical or editorial errors or omissions contained herein.
SOURCE: Northern Minerals & Exploration Ltd.