Logan Resources Ltd (CVE:LGR) has started a 2,000-metre exploration program designed to assess the potential of the Brik gold property in Nevada.
Reverse circulation (RC) drilling in at least ten holes will take a closer look at several exploration targets on this epithermal gold and silver system, among them the Hidden Treasure area.
Brik was included in an option deal struck in July with Pilot Gold Inc, which allows Logan to earn into up to 80% of certain Pilot properties.
Work has already been carried out on the Hidden Treasure target, which consists of gold-bearing quartz veins and breccias.
Drilling by Pilot in 2011 confirmed the presence of significant gold in the silica cap, and returned an average 1-3 grams per tonne (g/t) of the precious metal over intercepts of 10-30 metres.
Deeper-lying vein mineralization was also uncovered that weighed in at 15 grams per tonne over a 1.5-metre section.
This lower zone will be tested by the Logan team.
Also tested will be geophysical targets interpreted as additional zones of silicification favorable for gold mineralization.
The Brik property lies in the Cedar Range of Lincoln County, Nevada.
It consists of 135 unpatented lode claims on public lands owned by either Logan or Pilot.
The July option provides for Logan to evaluate a total of nine exploration properties over 12 months.
When that ends, provided that the initial expenditure requirements have been met, Logan will select four to earn a 51% interest in those properties and will proceed to conduct further exploration with a view to increasing its interest.
The remaining five properties will be returned to Pilot Gold.
The Properties are in some of the most prolific gold-bearing districts in the world, including the Cortez Trend, the Eastern Calderas, and the Long Canyon Trend.
Story by ProactiveInvestors