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Market:	ASX
Sector:	Gold Mining
EPIC:	NVG
Latest Price:	0.03 (0.00%)
52-week High:	0.19
52-week Low:	0.03
Market Cap:	2.03M

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Navaho Gold Full Navaho Gold profile here

Navaho Gold (ASX: NVG) is focused on the discovery of gold deposits in Nevada, USA and Queensland, Australia.

The company's Carlin East Project in Nevada comprises 247 claims held by Genesis Gold Corp over which Navaho Gold holds an option agreement enabling it to purchase a 100% interest. Also, Navaho's Texas Project comprises four granted tenements and eight tenement applications covering approximately 3,273 square kilometres located about 80 kilometres southwest from Warwick in southern Queensland.

Navaho Gold unearths 1.7km long potential gold zone at White Horse Flats in Nevada

Monday, February 13, 2012 by Angela Kean

The location of Navaho Gold’s White Horse Flats Project in a new emerging gold district bodes well for the potential of this prospect. Latest assays indicate a possible 1.7 kilometre by 500 metre, northeast trending zone of shallow low grade gold mineralisation.

Navaho Gold (ASX: NVG) has now identified a 1.7 kilometre long zone of potential gold mineralisation at the White Horse Flats Project in Nevada.

The project lies 8 kilometres northeast of the Carlin‐style Kinsley Mine, a joint venture between Nevada Sunrise and Pilot Gold, which produced 138,000 ounces at 1.4 grams per tonne (g/t) in the mid to late 1990s.

White Horse Flats also lies around 75 kilometres southeast of Newmont Mining’s Long Canyon deposit where a significant gold resource has been defined in what is now recognised as a new emerging gold district.

Between 1981 and 2009, in excess of 156 million ounces of gold was produced in Nevada, making it one of the most strongly endowed gold provinces in the world.

Navaho chief executive Mark Dugmore said “the strike extent over which gold mineralisation has now been defined and its location in a new emerging gold district enhances the potential for this prospect to significantly advance with further drilling.”

Assays have now been received from the 2,206 metres of drilling in 11 reverse circulation drill holes completed during November 2011.

Drilling was designed to test the down‐dip extensions of outcropping zones of highly gold anomalous zones of silicification, with rock chip samples ranging from 0.32 to 1.82 parts per million gold, in addition to a number of concealed structural targets identified from the interpretation of gravity data.

Three drill holes intersected low grade gold mineralisation. One hole intersected 13.7 metres at 0.43g/t gold from 85.4 metres, including 9.1 metres at 0.56g/t.

Two other drill holes, designed to test an area of gold anomalous rock chip results, intersected 6.1 metres at 0.15g/t gold from 62.5 metres, and 7.6 metres at 0.34g/t from 1.5 metres.

Defining the potential of the White Horse Flats Project is that these results, combined with historic drilling by Energy Reserves Group in 1981 that returned intersections of 6.1 metres at 0.49g/t gold from 79.3 metres and 61 metres at 0.64g/t from 39.6 metres, indicates a potential 1.7 kilometre by 500 metre, northeast trending zone of shallow low grade gold mineralisation.

Further surface sampling including rock chip sampling and follow up drilling are planned to test the extent and controls of the gold mineralisation.

The Whitehorse Flats Project is located 43 kilometres south of Wendover and is the subject of a farm‐in agreement with Columbus Gold Corp (TSX‐V:CGT) under which Navaho can earn a 70% interest in the project.

Stevens Basin

Navaho also has a similar agreement in place with Columbus Gold at the Stevens Basin Project in Nevada, where it can earn a 70% interest.

Earlier this month, Navaho received the final drill results from an 8-hole reverse circulation drilling program at Stevens Basin which further confirm that the project exhibits the geological, geochemical and alteration features common to many Carlin‐style deposits.

A combination of surface lag and rock sampling, coupled with the results of the drilling, has now defined an area of about 1.2 square kilometres of anomalous geochemistry which broadly coincides with a northwest structure corridor identified in geophysical data.

Stevens Basin is located in the Eureka Mining District on the Battle Mountain Trend 9 kilometres southwest of the 2.23 million ounce Archimedes/Ruby Hill deposit owned by Barrick Gold (NYSE: ABX).

Nevada Prospectivity

Navaho Gold has various agreements to earn majority interests in, or acquire, seven projects in Nevada, four of which are located on or adjacent to the prolific gold-producing Carlin and Battle Mountain Trends.

The Carlin Trend alone has produced more gold than any other mining district in the U.S.

Importantly, Navaho Gold’s Carlin East project lies about 5 kilometres east of Barrick’s 40 million ounce gold Post-Betze deposit, and the Utah Clipper project is located immediately along trend from Barrick’s Cortez and Pipeline-Gold Acres deposits which contain more than 30 million ounces of gold.

Nevada has 20 major mining operations producing in excess of 100,000 ounces of gold per annum.

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