(MENAFN- ProactiveInvestors - Australia) Global Geoscience (ASX:GSC) has identified the Excelsior Gold project in Nevada as a instrusion related gold system, that indicate a large gold deposit target.
Recent wide spaced drilling intersected broad zones of low-grad gold coincidental with high levels of As, Bi, Mo and Te within strongly altered and quartz-veined country rock.
There appear similarities between Excelsior and major IRG deposits in the Tintina Gold province of Alaska/Yukon, which include the 31 million ounce Donlin Creek, 9 million ounce Fort Knox and 2 million ounce Dublin Gulch deposits.
Previous drilling at Buster zone also intersected ore grade mineralisation including 33.5 metres at 2.7 g/t gold from 70.1 metres; 47.3 metres at 1.5g/t and 48.8 metres at 0.8g/t gold.
Recent drilling by Global in late 2012 targeted Mo-Bi-Te surface geochemical anomalies to the east of the known mineralisation and previous drilling. Eight wide-spaced RC holes were completed for a total of 1976 metres.
Previous exploration by Global and others has identified significant ore-grade gold mineralisation over a strike length of 1.5 kilometres at depths of less than 100 metres and entirely within the zone of complete oxidation.
The Excelsior Gold project is located in the Walker Lane Tectonic Zone of southern Nevada. Global and Osisko are earning a 70% interest in the project by spending $3 million on exploration over four years.
The target at Excelsior is a multi-million ounce gold deposit.
Future work include aeromagnetic survey, deep looking induced polarisation survey and drilling.
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