Newport Gold Inc. Announces It Intends to Commence a Drilling Program to Test Two Airborne Geophysical Conductors on Its Manitou Claim, Located on Its Burnt Basin Property, Greenwood Mining Division, B.C.
TORONTO, February 7, 2020 (Newswire.com) - NEWPORT GOLD INC. (OTC PINK: NWPG) (the “company”) is pleased to announce an upcoming drilling program at its wholly owned Manitou claim, located in the Burnt Basin property in the Greenwood Mining division in British Columbia.
The company is planning to test two flat-lying conductors located at a depth of 50 and 300 feet below the surface on its Manitou claim. The latter conductors were a result of conducting an airborne survey over the company’s former property and retaining the only claim hosting the conductors.
An interpretation by Condor Consulting stated that the flat-lying conductors were modeled at the depths stated above, but they could not estimate the thickness of the conductors nor their lateral extent. Condor also stated that their interpretation was based on what was energized by the survey and did not necessarily reflect the full potential of the conductors.
The two main targets are the horizontal anomalies which cover some, if not all, of the mineralization, described below in 1927, at a 60-foot depth, and another deeper zone at about 300 feet. The latter zone is presumed to be another mantos zone similar to what was found at the Gilman mine in Colorado, which hosts many mantos zones.
In 1927, the Halifax claims were worked on at a depth of 60 feet and the mineralized area was said to occur entirely within limestone and to extend for a length of at least 500 feet. The upper zone is described as being galena, sphalerite and pyrite in a quartz gangue, while the lower zone is said to contain pyrite and chalcopyrite. Development work included open cuts and a tunnel located below the outcrop. A sample of the ore extracted assayed 20.5% Zn, 17.7% Pb and 10.8 oz/ton Ag.
Dr. Donald Kohls a former director of the company and formerly in charge of Goldfields Mining exploration program, which resulted in the discovery of several multi-million ounce gold mines, felt strongly that the airborne anomalies represented manto deposits. The latter conclusion was partly due to the presence in several areas on the surface of high-grade values of both copper and silver, which make up the pipe portion of these deposits. He had studied the multi-million ton Gilman deposit in Colorado, a classic mantos deposit. This interpretation explains not only the host rocks but the presence of the very high values of copper and silver in the immediate area.
Dr. T. Hoy, a renowned expert in base metal deposits has visited the property and also considered it mantos-style mineralization. He thought the presence of high-grade values of copper and silver in the area east of the Halifax mine was perhaps the keel zone of a mantos deposit.
In addition, the company is planning to follow up on the Gold Knoll property discovered in late 2007. It was discovered following up on a strong soil geochemical anomaly. Quartz veins in that area returned values of 43.07 g/t Au and 42.78 g/t Au. The former sample also carried 204 g/t Ag and about 1% Pb with minor Zn, while the latter sample carried 46 g/t Ag and .38% Cu. The showing is situated northeast of the airborne conductors and northwest of the Eva Bell mine, which is located on the east part of the company’s property. Of all the samples taken in the past by the company, this was the first time high gold values have been found with this amount of grade-wise base metals.
Dr. Hoy thought the high-grade gold system at the Molly Gibson, just south of the company’s Manitou property represented the deeper part of the base metal system on the Manitou property and the Gold Knoll showing would be proof of his geologic analysis. He thought that gold would be present at depth with and/or below the base metal mineralization.
About Newport Gold Inc.
Newport Gold is a Nevada chartered company (incorporated July 16, 2003) involved in mining exploration and potential development of mineral properties in Canada. Newport has also made investments in various mining processing technologies and is currently reviewing the status of those investments and intends to provide an update in the near future.
DISCLAIMER ON FORWARD-LOOKING STATEMENTS:
Statements contained herein that are not based upon current or historical fact are forward-looking in nature. Such forward-looking statements reflect the company’s expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. When used herein, the words “anticipate”, “believe”, “estimate”, “plan”, “intend”, and “expect” and similar expressions, as they relate to Newport Gold Inc. or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to the company and are subject to a number of risks, uncertainties and other factors that could cause the company’s actual results, performance, prospects, and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. The company does not undertake any obligation to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or for any other reason.
Newport Gold Inc.
Derek Bartlett, B.Sc. (Geology)
President, CEO and Director
Source: NEWPORT GOLD INC.