Nevada Exploration Inc
Application of a new and unique exploration methodology: Groundwater Chemistry.
Nevada Exploration Inc.Montréal, Québec;Reno, Nevada. TSX.V : NGE. is an exploration company focused on the DISCOVERY of GOLD through the application of a new and unique exploration methodology: Groundwater Chemistry.
NGE is led by an experienced and historically successful exploration management team. NGE has developed a proprietary groundwater chemistry exploration technology and is the first to complete a comprehensive survey of Nevada’s groundwater to discover new gold deposits.
Management believes the results of NGE’s groundwater chemistry program are significant in that they demonstrate Nevada’s gold deposits exhibit recognizable and measurable groundwater chemistry signatures.
NGE has identified and acquired exploration properties exhibiting groundwater chemistry similar to known gold mines, and is now testing whether such water chemistry signatures can be followed “up stream” to discover new gold deposits.
NGE continues to refine and apply this technology to identify, acquire, further delineate, and either drill test or joint venture prospective exploration properties to return maximum shareholder value.
A Different Approach to Discovery
Whereas much of the industry is focused on optioning, joint venturing, and re-examining the same properties that have been around for decades, we are focused on advancing the previously unexplored targets identified by our exciting Groundwater Chemistry Exploration Program. We are the exception.
GROUNDWATER CHEMISTRY – EXPLORATION’S LEADING EDGE
Exploration in Nevada is complicated by the fact that half of the state is comprised of large, gravel-filled valleys where potential gold mineralization is hidden beneath the gravel. Traditional exploration methods do not work well in these covered bedrock settings, and as such, almost all of Nevada's gold deposits (+85%) have been found in the exposed mountain ranges. There is an equivalent amount of gold to be discovered beneath the gravels in Nevada’s valleys, but these discoveries await the introduction of new exploration technology that can see beneath the gravel cover.
Recognizing the need for improved exploration technology, management has spent 8 years and nearly $2,000,000 to develop a unique and proprietary exploration technology to test directly for gold beneath the gravels in Nevada’s valleys – this technology examines a medium that until now, the industry has ignored: groundwater.
Gold deposits impart gold and other trace metals into the surrounding groundwater. NGE has developed a proprietary groundwater chemistry database to analyze the groundwater surrounding 34 of Nevada’s gold deposits and has proved that the chemical signature of a gold deposit can be recognized, measured, and traced back to its source.
NGE is now using this proprietary understanding of gold deposit groundwater chemistry to evaluate new areas of exploration interest across Nevada.
After three years of sampling, NGE has collected over 2,500 groundwater samples from Nevada’s major gold trends and has identified 33 highly prospective targets with direct indications of gold in groundwater.
NGE has acquired the mineral rights on many of these targets and is in the process of acquiring several more.
NGE management believes that under the prevailing market conditions, it is prudent to preserve capital.
NGE has stopped all drilling, minimized field and office staff, and reduced management salaries. NGE has paid all major land holding costs until September 1, 2009; and all accounts payable are current. NGE is actively looking at ways to advance its exploration program while balancing both shareholder risk and dilution in a challenging financial environment.
NGE remains committed to the continued development of its industry leading, groundwater chemistry exploration program.
NGE has begun discussions with interested royalty and joint venture partners, and is also considering an equity financing.