Mar 28 2014
Meadow Bay Gold Corporation ("Meadow Bay Gold" or the "Company") is pleased to report that it has received a Finding of No Significant Impact (FONSI) from the Bureau of Land Management (BLM). The acceptance of the Environmental Assessment means that the Company is free to begin the work proposed in its Plan of Operation.
The Western Knolls Project Area is located 5km west of the Company's flagship Atlanta Gold Mine Project in Lincoln County, Nevada. While the two projects are likely genetically related, they represent distinctly different exploration targets.
Work at the Western Knolls has consisted of extensive geochemical sampling, geologic mapping and geophysical surveys. In addition to previous ground magnetic and IP surveys, Magee Geophysical Services of Reno, Nevada, recently conducted a gravity survey. The survey covered both the Western Knolls and a corridor to the Atlanta Shear Zone to the east. The survey shows a distinct gravity high centered on the Western Knolls. The Knolls are interpreted to be an uplifted horst block with a particularly sharp break on the west side. The eastern side is somewhat more complicated with a secondary horst possibly extending eastward. The gravity high is likely caused by Paleozoic basement rocks being brought close to the surface although widespread silicification in the Knolls may also be a factor. It is noted that the two zones of the highest gravity are correlated with Tellurium in soil samples.
In addition, results of age dating from the Western Knolls were also received. ActLabs of Ancaster, Ontario, determined a Potassium-Argon age of 30.6 +/- 1.3 Ma from a vein adularia sample from the Knolls. This K-Ar age constrains the timing of mineralization and is correlative with the age of mineralization of many of the large Carlin-type gold deposits in northern Nevada.
The gravity survey is being integrated with other geologic, geophysical and geochemical data sets to determine the placement of the initial drill holes. The results of these studies suggest that the Western Knolls is a target-rich environment. The Western Knolls has never been drilled - an unusual exploration opportunity in Nevada given the intense exploration the state has received over the last thirty years.
Results of the gravity survey can be found at http://www.meadowbaygold.com/
Dana Durgin, P.Geo., a Qualified Person as defined by National Instrument 43-101 and independent consultant to the Company, has reviewed the contents of this press release.