Pilot Gold Inc. said in a statement that it had found a new bulk tonnage style gold discovery at the Viper Project in north east Elko County in Nevada. The first five drill holes have intersected a widespread sediment hosted, oxide gold and silver mineralization.
Viper lies in the northern edge of the Long Canyon Trend located in north east Nevada. The area has seen little exploration except for some preliminary grassroots work that the company did in 2009 while it was exploring Long Canyon style targets.
Matt Lennox-King, President and CEO of Pilot Gold said that the results at Viper were significant, as they shared similarities with classic sediment-hosted replacement deposits in Nevada and, along with their Brik Project, marked the second new drill discovery made in Nevada by the Pilot Gold team in 2011. The company strategy of focusing regional exploration efforts off-trend was producing excellent results he added.
Pilot Gold owns 100% stake in the Viper Project. The holes were drilled at the Baja Target where the gold and silver mineralization zone is controlled in part by high angle epithermal veins, as well as a near horizontal stratigraphic contact between calcareous sandstone and underlying limestone.
The 2011 drilling campaign at the Viper Project includes 18 reverse circulation drill holes covering 3,364 meters. Of these 7 holes were in the north Baja Target and 11 holes were in the south. Additional target areas are to be drilled in the future after the assays from the 11 holes in the southern area come in.