Anova targets lift-off for Nevada gold drill program

Anova has completed the largest soil sampling program in a decade at its Big Springs gold project in Nevada and is now preparing for a drill program.

Big Springs already hosts a resource of 16 million tonnes grading 2 grams per tonne gold for 1.03 million oz of contained gold and is located 20km north of the Jerritt Canyon Gold Mine in Nevada, which is the most prolific gold province of the US.

Anova Metals (ASX:AWV) has collected about 5,500 samples across the key Mac Ridge North, Jacks Find and Golden Dome South areas with gold and multi-element results expected in mid to late October.

This program was carried out to extend and refine the current anomalism identified from historical soil and rock chip sampling programs.

Surface geology mapping has also been completed at Crusher Zone and Beadles Creek North, with mapping activities now progressing to South Sammy South.

Results from both the soil sampling and geological mapping programs will assist with future drill target refinement at Big Springs, especially in relation to previously identified high-potential district targets.

The upcoming reverse circulation program is aimed at both resource extension and new exploration target testing.

Big Springs

Big Springs is a proven Carlin-style gold producing system with about 386,000oz of the precious metal produced from 1987 to 1993 when operations ceased due to modest prevailing prices at that time.

Limited systematic exploration has been completed since 2007 at the project, which hosts numerous brownfield and greenfield targets.

In addition, all permits have also been in place since 2017 for both open pit and underground mining operations at the South Sammy prospect.

In August, Anova pegged 240 new mining claims, bringing the total prospecting land package at Big Springs to 81sqkm.

This secured four new areas, including the zone between Dorsey Creek and Jack’s Creek along the mineralisation controlling Schoonover fault, east of Mac Ridge North and Golden Dome South prospects, and east of Dorsey Creek toward Golden Dome North.

Additionally, six key district targets are wholly or partly distributed within the new claims and are consistent with historical soil and rock chip sampling gold anomalies.

This article was developed in collaboration with Anova Metals, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.