January 25, 2022
New Placer Dome Gold Corp. (TSXV:NGLD, BUY, C$0.30 target, Taylor Combaluzier) has identified high priority exploration targets north of the South Mine Fault Zone (SMFZ) at its Bolo project in Nevada based on IP/resistivity surveys completed in Q4/21, in conjunction with existing rock sampling and geological mapping results. New Placer is currently earning a 50.01% interest in the Bolo project by completing certain exploration milestones including spending US$1.5M in 2022. The survey results have identified a 1km x 0.5km outlier of Windfall formation rocks, the primary host for Au-bearing mineralization at the SMFZ, that lie along a major parallel fault structure, the East fault. Windfall rocks are cut by fault controlled jasperoid units and coincident arsenic, barium and antimony pathfinder element anomalies within surface grid rock samples. Following these results, the company plans to conduct additional prospecting and rock sampling grids in the northern areas of Bolo to further refine targets prior to drilling. A ~1,700m drill program is currently underway at Bolo and is focused on expanding the existing Au-Ag oxide mineralized zones and partially stepping out from 2019-20 drilling (read more). In our view, Bolo is a high-grade near surface Au project in a tier-one jurisdiction with significant exploration upside with the potential to be expanded laterally and at depth. This new East Fault target area offers additional upside at Bolo and is outside the area in which we estimate a base case mineral inventory of ~437k oz Au (confined to the SMFZ and Uncle Sam zones). New Placer Dome is currently in the process of being acquired by Copaur Minerals Inc. (TSXV:CPAU, Not Rated) in a friendly, all-share deal (read more). The transaction is expected to be completed by Mar/22. Read more
