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NGE Nevada Exploration Inc

0.16
0.00 (0.00%)
22 Nov 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Nevada Exploration Inc TSXV:NGE TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.16 0.15 0.17 0 00:00:00

Nevada Exploration Inc. Realigns Its Nevada Land Holdings

06/09/2013 1:30pm

Marketwired Canada


Nevada Exploration Inc. (TSX VENTURE:NGE) ("NGE") announces that based on the
results to date at its projects and the results of its ongoing generative
hydrogeochemistry exploration program, NGE is realigning its project portfolio
to focus its resources on its exploration projects that demonstrate the greatest
upside potential.


NGE has applied a consistent, staged exploration program to manage risk while
advancing its pipeline of new, grass roots exploration projects. At the same
time, NGE has continued to complete additional generative exploration across
Nevada's large prospective covered basins using its proprietary
hydrogeochemistry exploration technology. Based on the results of the work
completed by NGE and its exploration partners at its projects, considered within
the context of the new targets that NGE has identified as part of its ongoing
generative exploration efforts, NGE is realigning its Nevada land holdings.
Specifically, NGE is focusing on its Fletcher Junction, Hot Pot, Awakening, and
Kelly Creek projects, as well as continuing its work with McEwen Mining Inc. at
the Grass Valley Project and evaluating opportunities to acquire new land
positions covering high priority targets identified during its 2012 and 2013
hydrogeochemistry sampling programs. At this time, NGE will no longer be
advancing its Bull Creek, Sand Pass, Rye Patch, Jungo, or Whiskey Flats
projects. Accordingly, NGE is no longer maintaining land positions at these
projects. Including NGE's 30% interest in the Grass Valley Project, NGE current
ownership interests cover more than 120 square kilometres (46 sq mi), making NGE
one of Nevada's largest junior explorers by project area.


Discussing the realignment of NGE's land holdings, Wade Hodges, NGE's President
and CEO: "With each additional exploration stage we learn more about our
individual projects; with each new advancement in the industry's understanding
of the genesis of Nevada's unique gold endowment we learn more about the
geologic conditions and processes responsible for Nevada's large gold deposits;
and with each new field season of generative hydrogeochemistry sampling we learn
more about the relative size and magnitude of our hydrogeochemistry exploration
targets. It is our responsibility to continuously evaluate our projects within
this technical context and within the context of the larger industry and the
capital markets, and to focus our resources on the projects that we consider
offer the greatest risk adjusted opportunities for our shareholders to
participate in major new gold discoveries. While the results at the projects we
dropped have been uniformly encouraging, and we are pleased by our
hydrogeochemistry exploration technology's ability to identify quality
exploration targets in covered settings, these dropped projects are
predominantly Sleeper-type volcanic-hosted systems, which we consider to be
smaller, and at this time less marketable, than the larger Carlin-type
sedimentary-hosted systems found further to the east. Recently published
research has more precisely defined the extent of this area as a zone where an
upper layer of siltstone overlapped and capped the underlying carbonate rocks
during an important period of magmatism and has explained how these unique
geologic conditions resulted in the creation of Carlin-type systems. Based on
this research, over the last two years we have focused our hydrogeochemistry
sampling efforts within this area of overlap and have identified several
exciting new exploration targets- the first of which is the Grass Valley Project
we are presently advancing with McEwen Mining Inc. Our decision to focus our
efforts more on this area of overlap reflects our ongoing commitment to
incorporate the latest research and data, and to apply the most up-to-date
exploration tools to generate the highest quality gold exploration projects in
Nevada."


About Nevada Exploration Inc.

NGE is an exploration company focused on gold in Nevada. NGE is led by an
experienced management team that has been involved with the discovery of more
than 30 million ounces of gold in Nevada.


NGE is aggressively applying the latest in covered deposit exploration
technology to identify, acquire, and advance new exploration properties in
Nevada's highly prospective, yet underexplored covered basins. Specifically, NGE
has developed proprietary hydrogeochemistry (groundwater chemistry) exploration
technology to explore for gold in Nevada's covered basins where traditional
exploration techniques are challenged.


Using its industry leading exploration technology, NGE has assembled a portfolio
of new gold projects, and with interests in over 120 square kilometres (46 sq
mi), is evolving as a major player in this world class jurisdiction. NGE's
business model is to leverage its properties and technology to create
shareholder value through generative exploration, joint ventures, and other
exploration partnerships.


Wade A. Hodges, President & CEO, Nevada Exploration Inc., is the Qualified
Person, as defined in National Instrument 43-101, and has prepared the technical
and scientific information contained in this News Release.


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.


Cautionary Statement on Forward-Looking Information:

This release contains certain "forward-looking statements" including, without
limitation, expectations, beliefs, plans and objectives regarding the potential
transactions and ventures discussed in this release. Among the important factors
that could cause actual results to differ materially from those indicated by
such forward-looking statements are the risks inherent in mineral exploration,
the need to obtain additional financing, environmental permits, the availability
of needed personnel and equipment for exploration and development, fluctuations
in the price of minerals, and general economic conditions.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Nevada Exploration Inc.
James Buskard
Vice President Corporate Development
1 (888) 263 2110
info@nevadaexploration.com
www.nevadaexploration.com

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