NAUFF - Field Work Points to Copper Porphyry at Idaho Asset | Benzinga
Source: Streetwise Reports 04/18/2024
To prove this out, the Canadian company plans additional exploratory work, to commence next month. Read on to learn more about this compelling project.
NevGold Corp. (OTC: NAUFF) completed a geological review and 3D model update of its newly staked Zeus project in southwestern Idaho's emerging Hercules Copper District, results of which are favorable and encouraging, the company announced in a news release.
The results from the geographical review and 3D model showed significant copper porphyry potential at the Zeus Copper Project. The project is incredibly similar to the Hercules Silver Corp. (OTC: BADEF) copper porphyry discovery at the Hercules Project.
These similarities are highlighted in the press release:
- Both projects have Triassic age plutons, the likely source of the copper porphyry
- Both projects have Olds Ferry terrane rocks, including the Hercules Rhyolite
- Both projects have a cover sequence of Izee terrane rocks, including the Weatherby Formation
- Both projects are located along the Bayhorse Thrust Fault, a major structural corridor, which places Izee Terrane rocks (Weatherby Formation) overtop of Olds Ferry terrane rocks (Huntington Formation)
- Both projects have abundant mineral occurrences and historical mine workings.
- Both projects are erosional windows through the post-mineral Columbia River basalts that cover the vast majority of the Hercules Copper Trend
" All of the geological signatures that we encountered through our geological review and time in the field solidify our view that Zeus has very strong copper porphyry potential and is some of the most strategic ground in this emerging Hercules Copper Trend." President and Chief Executive Officer Brandon Bonifacio said in the release.
"One of the most important rules with copper porphyries is that where there is one, there are others" Carlisle Kane, editor/publisher of The Equedia Letter, wrote in an April 4 article on NevGold.
Source: NevGold
The company's recent dive into Zeus included detailed assessments of historical records, compilations and reinterpretation of numerous published geological maps, creation of a 3-D geological model, and analysis of rock chip samples collected by the NevGold Team while staking the mineral claims over the past six months.
"This has provided a major advantage in being able to rapidly advance the project" Vice President of Exploration Derick Unger said in the release.
Zeus is about 120 km northwest of its capital, Boise, in an area with existing road, water, and power infrastructure but limited modern exploration described Stephan Bogner of Rockstone Research in a March 18 initiation report.
The project is ...