Gold Basin Resources CEO Colin Smith joined Steve Darling from Proactive to announce the signing of a property option agreement with Iconic Minerals, granting
Gold Basin Resources a 50% interest in the New Pass gold property located in Nevada. This agreement encompasses 107 unpatented mineral claims.
Smith elaborated on the significance of the New Pass property, noting its hosting of the Carlin-type New Pass Gold-Silver deposit. The property boasts a historical Inferred Mineral Resource of 341,750 ounces of gold equivalent, with separate estimates for gold and silver. Notably, 75% of the deposit is oxidized, making it amenable to heap leaching, as demonstrated by previous metallurgical testwork. With mineralization open in all directions, there is substantial potential for resource expansion and conversion.
Situated within Nevada's prolific Sulfur-Lovestock-Austin structural gold trend, New Pass is strategically located just 75 kilometers south-southwest of the past-producing McCoy-Cove Mine, which is set to resume production under
i-80 Gold Corp. Furthermore, the property benefits from an active Plan of Operations, permitting up to 25 acres of exploration-associated allowable disturbance.
Smith outlined the company's plans to swiftly advance the New Pass asset in tandem with its Gold Basin Project, with a focus on conducting on-the-ground exploration activities to unlock the property's full potential.
With the acquisition of the New Pass gold property, Gold Basin Resources is well-positioned to capitalize on the opportunities presented by Nevada's renowned gold-rich geological terrain and contribute to its growing portfolio of valuable mineral assets.
Contact DetailsProactive North America
+1 604-688-8158
na-editorial@proactiveinvestors.com
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