August Energy has purchased mineral lease claims in the 'Long Canyon gold trend'. The company has acquired 320 acres of major mineral lease properties, around the 15 BLM claims situated in the western part of the new Long Canyon gold trend, Nevada.
The company has provided 600,000 preferred stock shares, series ‘A’ for the acquisition and Phase I and II exploration.
The Phase I program at Nevada properties will embrace geological mapping, surface rock chip sampling and deposit stream sampling. ALS Chemex labs in Elko will assay the wide range of samples to encounter gold, silver and base metal. These assays will describe the precise high target mineralized property sites, where further sampling will take place along with IP work to seek out multiple targets
Based on the described drill targets, the Phase II exploration will ensue with drilling to prove the mineralization on the targets from the surface to the depth. The same Chemex lab will assay the core drill samples. The results of these initial drill core samples will show significant gold mineralization and a geological grid map will be created to outline a wide in-fill drill program to identify a prospective mineable ore body.