Black Mountain Gold USA Corp. (TSXV: BMG) (“BMG” or the “Company”) is pleased to announce that it has received the results of the Induced Polarization (IP) survey completed by Geofisica TMC S.A. de C.V. (“TMC”) at its Mohave Gold Project in Mohave County, Arizona. The survey was comprised of 19 north-south lines varying from 1.17 km to 2.25 km in length for a total of approximately 38 line km. The survey focussed on the northern half of the Mohave Gold Project and covered approximately 3.7 km2 over the main gold-bearing prospects and historical mining areas on the property. Preliminary interpretations of the data indicate that most historic prospects are situated along the margin of a moderate chargeability anomaly which at depth extends under several prospects suggesting potential to extend known gold mineralization below the oxide zone.
Graham Harris, CEO and Director, commented, “BMG is encouraged by the results from the IP survey over the northern prospects on the property. The various anomalies suggest potential to expand mineralized zones at depth into the sulphide domain as well as identifying various buried targets. Detailed interpretation of the IP results and optimization for drill targeting are underway in preparation for the drill program planned for 2022.”
The IP survey is situated where historical drilling, soil surveys and historic and recent rock chip sampling programmes have outlined large areas of low-sulfidation epithermal gold mineralization in mostly flat lying structural zones of quartz-calcite veins, stockworks and breccias. The IP survey was designed to detect chargeability and resistivity anomalies to a depth of approximately 250m. In general chargeability results reflect the amount of sulphide mineralization in the rock units and at 50m below surface two large chargeability anomalies of moderate strength were delineated. Anomaly 1 is oriented northwest-southeast and is 1,100m by 500m and Anomaly 2 is also oriented northwest-southeast and is 1,000m by 600m (see Figure 1). At a depth of 250m the anomalies appear to merge creating a coherent zone approx. 2,400m by 1,400m. Modelling of the historical drilling and the chargeability anomaly at a depth of 100m below surface, shown in Fig 2, indicates that this drilling was mainly shallow and did not test the deeper part of chargeability anomalies.
The resistivity data at 50m below surface outlines a ring-shaped resistivity low approximately 2,000m across with a modest-high resistivity core (see Fig.3) although in places it appears to extend beyond the survey boundaries. At depth the ring shape erodes below 100m and an area 1800m long by 800m wide of moderate-high resistivity dominates (see Fig 4). Known gold prospects are associated with both resistivity lows (Klondyke, Apex, Jim & Jerry) and small resistivity highs (Scout, Epidote Ridge, and Golden Door) at the 50m depth.
Figure 1 Chargeability plan at -50m showing the two chargeability zones main prospects situated at the anomaly edges, and the historic drilholes.
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Figure 2 3D model showing a 8-15mV moderate chargeability anomaly shell east of Klondyke from -50m to -100m and historic drillholes.
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Figure 3 Resistivity plan at -50m showing ring-shaped low resistivity anomaly
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Fig. 4 Resistivity plan at -200m showing expansion of the resistivity high at depth and the low situated primarily west of Klondyke.
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The correlation between known prospects and low chargeability at the edge of the moderate chargeability anomaly may reflect the oxide nature of the mineralized zones. The 3D model indicates low chargeability to approx. 100 m depth which is consistent with the level of the oxide-sulphide transition zone encountered in several of the deeper historic drillholes. Many of the past drill holes did not reach the deeper higher chargeability anomalies suggesting potential to expand mineralized zones at depth. The -50m depth chargeability plan reveals several buried moderate chargeability anomalies east of Klondyke and south of Epidote Ridge which will be considered for drilling in 2022.
The location of the various prospects in the low resistivity ring may be related to increased post-mineral faulting and fracturing in some of the mineralized zones. The moderate resistivity core correlates with an airborne MAG high and geologically with a diorite body identified at surface. At depth this zone expands and may represent a more extensive intrusion in the area with more extensive silicification. The 3D model in this area also indicates previous drilling was too shallow to test the moderate low resistivity zone suggesting potential to extend zones of mineralization at depth.
Detailed interpretation of the IP data is ongoing and TMC recommended four areas for drilling, all within chargeability Zones 1 and 2. BMG will incorporate these recommendations into its 2022 drill program planning as it continues to optimize and delineate drillhole locations designed to expand known prospects and to test buried targets outlined by the IP survey.
This news release has been reviewed by Peter J. MacLean, Ph.D., P. Geo, Director of the Company and a Qualified Person as that term is defined in National Instrument 43-101.
To find out more about Black Mountain Gold USA Corp. please contact Investor Relations at (604) 662-8184 or email firstname.lastname@example.org.
BLACK MOUNTAIN GOLD USA CORP.
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This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves
or resources, regulatory or government requirements or approvals including approvals of title and mining rights or licenses, the reliability of third party information, continued access to mineral properties or infrastructure, changes in laws, rules and regulations in Arizona which may impact upon the Company or its properties or the commercial exploitation of those properties, currency risks including the exchange rate of USD$ for Cdn$, fluctuations in the market for gold/silver, changes in exploration costs and government royalties, export policies or taxes in Arizona and other factors or information. The Company’s current plans, expectations and intentions with respect to development of its business and of the Mohave Gold Project may be impacted by economic uncertainties arising out of Covid-19 pandemic or by the impact of current financial and other market conditions on its ability to secure further financing or funding of the Mohave Gold Project. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.