- Eclipse Gold Mining (EGLD) has launched a helicopter-supported geophysical survey at its Hercules gold project in Nevada, USA
- With roughly 2,200 line-kilometres planned, the survey will collect electromagnetic, magnetic and radiometric data over the entire property
- The company has contracted Geotech to conduct the survey, which will assist in identifying future drill targets
- The results of the survey are expected to be received in mid-August this year
- Eclipse Gold Mining (EGLD) is currently up 3.95 per cent to C$0.79 per share at 1:34pm EDT
Eclipse Gold Mining (EGLD) has launched a helicopter-supported geophysical survey at its Hercules gold project in Nevada.
Located 40 kilometres southeast of Reno, the project sits within the Walker Lane Gold Trend and is thought to host four large, near-surface gold systems that may be connected at a deeper level.
The company has contracted Aurora, Ontario-based Geotech to carry out the 2,200 line-kilometre survey, which will collect electromagnetic, magnetic and radiometric data over the entire Hercules property.
This has been designed to assess the exploration potential of the project property-wide, and will assist in generating high-priority targets for future drilling programs.
According to a news release published on June 10, 2020, recent drilling conducted by Eclipse Gold Mining highlighted the strength and continuity of mineralisation at the project. Broad intervals of near-surface oxide gold-silver mineralisation was intersected at all targets, some of which extend to a depth of more than 50 metres.
In addition, the company announced on July 21, 2020, that a ground induced polarisation survey had discovered a region now known as the Hercules Structural Zone, which extends over 2,000 metres along strike and remains open for expansion.
Michael Allen, President and CEO of Eclipse Gold Mining, noted that the company’s work to date at the Hercules project has been based on systematic exploration.
“We have now established that Hercules hosts a large scale, epithermal gold system whose value is only now beginning to be unlocked.
“Our next phase of work is to assess the full scale of the system and vector in on potentially higher-grade zones,” he said.
The results of the geophysical survey are expected to be received in mid-August, and will be added to a growing database of information ahead of future drilling work.
Eclipse Gold Mining (EGLD) is currently up 3.95 per cent to C$0.79 per share at 1:34pm EDT.