EXCELSIOR GOLD PROJECT, NEVADA
The Excelsior Gold Project is located 70km southwest of Tonopah in southern Nevada, USA. Global is earning a 70% interest in the project by spending $3 million on exploration over four years. Excelsior shows excellent potential to host a shallow, oxide gold deposit.
Gold mineralisation at Excelsior occurs within a generally east-west trending zone that is 200-400m wide and at least 4km long. Most of the previous drilling and historical mining occur at the western end of the zone with drill intersections up to 7.6m at 5.1g/t Au and 47m at 1.5g/t.
Drilling by previous companies has mostly focussed on the area around the small, historic mine known as the Buster zone. All previous drilling has been shallow (<100m depth) and mineralised intersections are within the oxide zone. Previous drill intersections in the Buster zone include:
- EX02: 33.5m at 2.7g/t Au from 70.1m
- EX04: 42.6m at 0.5g/t Au from 36.6m
- EX15: 48.8m at 0.8g/t Au from 19.8m
- EX30: 47.3m at 1.5g/t Au from 71.6m
In 2011, Global completed a first-pass program of wide-spaced drilling aimed at extending the zone of mineralisation along strike and testing for significant size potential (ASX Announcement 28 September, 2011). Angled holes were drilled on wide-spaced fences up to 1.5km to the east and 0.5km to the west of the Buster zone. Drill intersections from this program include:
- GE08: 12.2m at 3.3g/t Au from 93m
- GE14: 24.4 at 1.1g/t Au from 9m
- GE15: 20m at 0.6 g/t Au from 61m
- GE18: 18m at 0.5g/t Au from 81m
- GE19: 6.1m at 1.9g/t Au from 117m