Battle Mountain Gold Inc. Commences Exploration of Its Lewis
Gold-Silver Property in North-Central Nevada
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 25, 2014) -
Battle Mountain Gold Inc. (the "Company")
(TSX-VENTURE:BMG)(OTCQB:BMTNF) is pleased to announce that it has
commenced exploration on its Lewis gold-silver property. This 2,225
hectare (5,500 acre) land position lies directly adjacent to the
Fortitude open-pit of Newmont, near the town of Battle Mountain in
north-central Nevada (Figure 1:
http://media3.marketwire.com/docs/BMG_Fig1_Lewis13.pdf). As of
December 31st, 2013*, the combined reserves and resources of the
Fortitude and other deposits in the Phoenix mine complex contain
271 metric tonnes of gold (8.7 million troy ounces Au), 3,614
metric tonnes of silver (116 million troy ounces Ag) and 1.03
million metric tonnes of copper (2.27 billion pounds Cu). The
Company's Lewis property consists of 7 patented and 360 unpatented
mining claims. Historic mining of gold, silver and base metals was
accomplished along several northerly-trending lode systems in the
claim group.
The Company commenced exploration of the Lewis property in June.
The planned work program consists of detailed geological surface
mapping (1:2,000 to 1:5,000-scale) and geochemical rock sampling,
with an emphasis on the geometric controls to gold-silver-and base
metal-bearing fault and fracture systems. These target structures
cut across several rock formations that have properties conducive
to metals deposition, including the same formations that host ore
in the Fortitude mine, located directly to the south.
More than eight mineralized zones are recognized in the Lewis
property (Figure 1). The best understood gold-silver systems to
date include the Virgin, Buena Vista and Trinity structural zones,
which are open along strike and at depth. In each of these
mineralized systems there is evidence that higher gold grades are
related to the intersection of steeply-dipping, northerly-trending
target structures with northwesterly-trending cross-structures. The
Virgin fault system extends northwards from the Fortitude open-pit
and has a strike-length of more than 1200 m through the BMG claim
group. Past drill-results from the Virgin include 85.4 m at
2.23 g/t Au and 26.9 g/t Ag from 64.0 m, including 15.2 m
at 9.02 g/t Au and 36.6 g/t Ag from 118.9 m (Madison Minerals,
MAD-18); and 45.7 m at 6.48 g/t Au from 61.0 m, including
6.1 m at 21.5 g/t Au from 73.2 m (MAD-31).
* See Newmont 2013 Annual Report filed on February 20, 2014
The Buena Vista fault system, located about 300 m to the west of
the Virgin, extends more than 1,300 m with near-surface
drill-results of 7.6 m at 5.44g/t Au and 69 g/t Ag from
12.2 m, including 3.0 m at 12.7 g/t Au and 691 g/t Ag from
12.2 m (MAD-64). Previous drilling has only tested the fault system
to vertical depths of typically less 100 m from surface. The
Trinity structural zone is characterized by gold-silver
mineralization over a strike-length of more than 1,600 m in the
property area. Some of the best drill-results in the limited
drilling completed to date include near-surface intercepts of 6
m at 3.5 g/t Au in DAN 46 and 13.7 m at 2.4 g/t Au in
DAN-57 from percussion holes completed by Sante Fe Pacific in the
northern part of the Trinity zone. The surface extents of the
mineralized Buena Vista and Trinity fault systems will be
quantified by geochemical soil and bedrock sampling programs in the
latter part of 2014.
An airborne hyperspectral survey will soon be flown over the
property and adjacent areas (> 50 km2) to delineate the
extents and characteristics of hydrothermal alteration-related,
clays, micas and iron-oxide minerals that typically indicate zoning
in gold-silver systems and proximity to target structures. The
survey will made using a light aircraft carrying a ProSpecTIR™VS
instrument which has dual sensors that are capable of measuring
visible / near-infrared (VNIR) wavelengths of 400-1,000 nm and
short-wave infrared (SWIR) in the 1,000-2,500 nm wavelength range.
The data will be collected along flight lines spaced every 500 m
with a minimum side-lap of 30% and a pixel resolution of 2 m. The
airborne results will be processed and analysed by a trained
geoscientist who will collect field data using a portable
spectrometer while accompanied by the BMG geologist conducting the
mapping program. In addition to the detailed hyperspectral surveys
over the property, ASTER satellite imagery will be analyzed for the
entire Battle Mountain district, which covers more than 350 km2.
This style of combined hyperspectral analysis has successfully
delineated mineral zoning and directions to ore-bearing structures
in gold- and silver-bearing deposits elsewhere in Nevada (e.g.,
Goldfield), Utah (e.g., Tintic District), Mexico (e.g., Fresnillo
region) and Chile (e.g., Los Chimberos).
The relogging of diamond drill-core and reverse-circulation (RC)
drill-chips from the company's past drill programs, which total
6,812 m core and 29,225 m RC, will be undertaken for the Virgin and
Buena Vista structural zones. The results of past TITAN and
IP-Resistivity surveys, conducted in 2003 and 2007 in the southern
portion of the property, will be reprocessed and imaged in
three-dimensions using present-day algorithms.
The improved understanding gained by the drill-hole relogging
campaign and the reprocessing of the geophysical data will be
integrated with the results of the geological mapping, geochemical
rock sampling and hyperspectral surveys. This integration of data
will be used to create a three-dimensional model of the
gold-silver-base metal mineralization in the property area. The
intersections of prospective fault and fracture zones with one
another and favourable rock formations will be targeted and tested
by a diamond-core drill program designed to extend known zones of
mineralization and discover new gold-silver-bearing bodies.
Dr Steve Garwin, the Technical Director of the Company and
previous Chief Geologist for Newmont - Nevada (2000-2002),
comments:
"The gold-silver-copper potential of the Battle Mountain
district is exciting. The Company's claim area shows systematic
controls to high-grade mineralization that can be delineated in
three-dimensions and tested by well-located drill-holes that have a
high probability of success. The integration of multiple sets of
geoscience data collected by the Company and previous explorers
will increase our chances of discovery and allow us to better
direct funds towards future drilling. The proximity of the Virgin
and Buena Vista structural zones to the Fortitude open pit of
Newmont is encouraging and indicates the resource potential of
these historic lode systems."
On May 14, 2014, Battle Mountain Gold Inc. (formerly Madison
Minerals Inc.) announced that it had completed its reverse takeover
transaction (the "Transaction"), as previously announced in press
releases dated March 13, 2014, April 22, 2014 and April 30, 2014
and more specifically described in its information circular dated
March 13, 2014, all of which are available on SEDAR at
www.sedar.com under the Company's profile. The Company has received
final approval of the TSX Venture Exchange for the Transaction.
Qualified Person
Steve Garwin PhD, FAIG, FAusIMM, FSEG and Director of Battle
Mountain Gold Inc. is a qualified person, as defined by NI 43-101.
He is responsible for the preparation of the technical information
in this news release.
To find out more about Battle Mountain Gold Inc. please visit
our website at www.battlemtngold.com.
On behalf of the Board of Directors of BATTLE MOUNTAIN GOLD
INC.
Chet Idziszek, President
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility of the adequacy or
accuracy of this release.
Cautionary Statement
This document contains "forward-looking statements" within the
meaning of applicable Canadian securities regulations. All
statements other than statements of historical fact herein,
including, without limitation, statements regarding exploration
plans and our other future plans and objectives, are
forward-looking statements that involve various risks and
uncertainties. Such forward-looking statements include, without
limitation, estimates of exploration investment and the scope of
exploration programs. There can be no assurance that such
statements will prove to be accurate, and future events and actual
results could differ materially from those anticipated in such
statements. Important factors that could cause actual results to
differ materially from our expectations are disclosed in the
Company's documents filed from time to time via SEDAR with the
Canadian regulatory agencies to whose policies we are bound.
Forward-looking statements are based on the estimates and opinions
of management on the date the statements are made, and we do not
undertake any obligation to update forward-looking statements
should conditions or our estimates or opinions change.
Forward-looking statements are subject to risks, uncertainties and
other factors, including risks associated with mineral exploration,
price volatility in the mineral commodities we seek, and
operational and political risks. Readers are advised not to place
undue reliance on forward-looking statements.
Battle Mountain Gold Inc.Chet
IdziszekPresident604.331.8772604.684.6024www.battlemtngold.com
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