Market Herald logo


Be the first with the news that moves the market
  • Northway Resources (TSXV:NTW) has provided an update on its 2020 exploration plans at the Healy and Napoleon Projects in central Alaska, USA
  • Exploration at Healy will begin in July, focusing on detailed soil mapping and sampling, geophysical surveys, and an induced polarisation survey
  • Exploration at Napoleon will include a variety of surveys designed to complement previously collected data
  • Information collected at both sites will be used to establish targets for future drill programs
  • Northway Resources (NTW) is currently steady at 7.5 cents per share, with a market cap of C$3.1 million

Northway Resources (TSXV:NTW) has provided an update on its 2020 exploration plans at the Healy and Napoleon Projects in central Alaska, USA.

Located along a major northeast-trending fault system, the Healy Project was first identified by Newmont Corporation in 2012. Since then, various prospecting, mapping and soil sampling activities have defined several gold, arsenic and antimony anomalies.

These exploration activities, undertaken by Newmont in 2012 and 2013, were the first time the property had been explored.

For its part, Northway completed a reverse circulation drill program at Healy in 2019, representing the first ever drill test of the newly identified gold system.

This year’s exploration program is scheduled to begin in July and is expected to include detailed soil sampling and mapping, as well as ground electromagnetic and magnetic geophysical surveys. This will be closely followed by an induced polarisation survey on specific targets.

It’s expected that the work will help to define drill targets within known geochemical anomalies, which will be the subject of future drill programs.

Zach Flood, CEO of Northway Resources, said he is excited to follow up on last year’s drill program.

“Our planned work in 2020 aims to build on this exciting new discovery and advance the project towards a more significant diamond drill program,” he said. 

At Napoleon, located within the prolific Tintina Gold Belt, gold mineralisation is held in quartz veins related to a regional shear zone that intersects the Jurassic-aged Napoleon pluton.

Exploration at the project will include high resolution drone lidar and ground based VLF and magnetic geophysical surveys. This will cover regions where historical drilling identified high-grade gold mineralization.

This information, along with data previously collected by other companies, will be used to establish drill targets for future testing.

Zach went on outline the company’s hopes for the property. 

“Northway’s 100 per cent owned Napoleon Property represents another exciting opportunity in Alaska; previous drill programs were successful at identifying high-grade gold mineralization associated with quartz veins.

“Our 2020 surface program at Napoleon should help better define structural controls on mineralization and aid in future drill targeting,” he said. 

Northway Resources (NTW) is currently steady at 7.5 cents per share at 12:09pm EDT.

More From The Market Herald

" Ridgeline Minerals (TSXV:RDG) amends $2.5M non-brokered private placement

Ridgeline Minerals Corp. (RDG) has amended its previously-announced non-brokered private placement for gross proceeds of up to $2.5 million.

" Independent geochemical modelling identifies Cu-Mo porphyry target at Montero’s (TSXV:MON) project in Chile

Montero Mining and Exploration (MON) received a positive report from Fathom Geophysics from the analysis of geochemical data on the Avispa property.

" Globex (TSX:GMX) announces resource increase

Globex Mining Enterprises (GMX) has announced a resource increase to 500,000 ounces of gold inferred on the Labyrinth Gold Project in Québec.

" Walker River (TSXV:WRR) begins re-drilling at the Lapon Gold Project

Walker River Resources (WRR) re-started reverse circulation drilling at the Lapon Gold Project, located some 60 km SE of Yerington, Nevada.