North PEAK Contracts Burgex to Advance Black Horse Exploration Programs BY Scanning and Modeling Former Underground San Pedro MINE
NORTH PEAK CONTRACTS BURGEX TO
ADVANCE BLACK HORSE EXPLORATION
PROGRAMS BY SCANNING AND MODELING
FORMER UNDERGROUND SAN PEDRO MINE
www.northpeakresources.com
TSX Ventue: NPR
CALGARY, AB
,
April 7, 2022
/CNW/ -
North Peak Resources Ltd.
(TSXV: NPR) (the
"Company"
or
"North Peak"
) launched multiple drilling programs in March at the optioned Black Horse gold
property and now as weather permits has hired Burgex Inc., to next week deploy modern scanning
and modeling of the San Pedro former underground gold mine in the northeast corner of the Black
Horse property. Burgex Inc. is a
Salt Lake City, Utah
based company with specific experience in
bringing modern exploration techniques to historic mines and will also be carrying out a drone based
orthoimagery survey of the topography of Black Horse property for the first time.
"Drilling will continue over the forthcoming months and the Company will be pressing not only for
assay results from the core and reverse circulation programs that are underway but the proper
sampling of the various underground former gold mines on the property",
said Brian Hinchcliffe
Company CEO
. "The property historically had 315 RC holes drilled on it and a fraction of them are
being tested with core drilling for the first time which requires more time for assay turnarounds and
the presentation of those assay results in future news releases. "
"Last week the Company gained access to the 300 foot shaft compartment and the near surface
two main production and haulage adits at the historic San Pedro mine which enables very exciting
work programs to be kicked off,"
said North Peak COO
Jerod Eastman
. "Next week the Burgex
team will scan these historic workings and the resulting modeling will enable us to more accurately
understand the historic mining activity and help build a three dimensional model, defining the geology
and assisting with targeting of drilling."
"Burgex provides comprehensive mining consulting and mineral exploration services throughout
the
United States
and is looking forward to working on this historic Black Horse project with North
Peak,"
added
Chris Summers
, Burgex CEO
. "The Burgex team consists of Mining Engineers,
Geologists, Analysts, and UAV experts who use cutting edge technology and expertise to find, grow
and define, as well as de-risk mineral exploration and mining projects."
The Black Horse Property consists of 2,733 acres and is located 50 miles east of
Ely
in White Pine
Country,
Nevada
and shows evidence of three historic mining areas: the Black Horse, San Pedro
and Gold King that operated in the early years of the 1900's. While there was intermittent mining on
the Black Horse Property after 1913, the last of any real mining and production appears to be of
tungsten ore from 1941 to 1953.
Thereafter the only material activity on the Black Horse Property the exploration drilling conducted by
the current owner (Minex, LLC) in the late 1990's. Minex initially acquired these claims in 1997 and
via drilling campaigns in 1997- 1998 drilled 316 reverse circulation holes that identified a
mineralization zone that appears to have a strike length of two miles with drilling generally at 100-
foot centers.
The Company obtained an option in
mid-December 2021
to acquire the Black Horse Property from
Minex, LLC and has obtained BLM permission and is now carrying out initial diamond and reverse
circulation drilling programs on the Black Horse Property. Additional information about the
Company's option, and historical work and history at the Black Horse Property can be found in the
Company's
January 11, 2022
press release.
About North Peak Resources Ltd.
The Company is a Canadian based gold exploration and development company that is listed on the
TSX Venture Exchange under the symbol "NPR". The Company holds an option to acquire the 2,733-
acre Black Horse gold and silver property located approximately 50 miles east of
Ely
within the
Black Horse mining district in
White Pine County, Nevada
. See the Company's December
6
and
13
,
2021 press releases for additional information.
About Burgex Inc.:
Burgex provides convenient, comprehensive mining consulting and mineral exploration services
throughout
the United States
. The Burgex team consists of Mining Engineers, Geologists, Analysts,
and UAV experts who use cutting edge technology and expertise to find, define, and de-risk mineral
exploration and mining projects, particularly those of an historic nature.
*
CAUTIONARY NOTE REGARDING HISTORICAL RESOURCE ESTIMATES AND MINERAL
RESOURCES:
As described in detail in the Company's
January 11, 2022
press release, a
Qualified Person (Mr.
Mike Sutton
, P.Geo., a director of the Company, is the Qualified Person who
reviewed and approved that news release) has not done sufficient work for the Company to
classify the historical resource estimates referenced therein as a current mineral resource or
mineral reserve. The Company is not treating those historical estimates as current mineral
resources or mineral reserves and has not verified the historical resource estimates. The reader is
cautioned that the data used in the preparation of those historical resource estimates does not
meet the current standards of exploration quality assurance and quality control protocols and
significant additional drilling (including diamond drilling, some which will twin earlier holes), data
verification (quality control), would be required to ensure the quality of historic data meets current
standards for use in a resource estimate. See the Company's
January 11, 2022
press release for
further information.
CAUTIONARY NOTE TO U.S. INVESTORS CONCERNING HISTORICAL RESOURCE
ESTIMATE:
This news release has been prepared in accordance with the requirements of the
securities laws in effect in
Canada
, which differ in certain material respects from the disclosure
requirements promulgated by the Securities and Exchange Commission (the "SEC
"). For example,
the term "inferred mineral resource" is a Canadian mining term as defined in accordance with
Canadian National Instrument 43-101 Standards of Disclosure for Mineral Projects and the
Canadian Institute of Mining, Metallurgy and Petroleum (the "CIM") - CIM Definition Standards on
Mineral Resources and Mineral Reserves, adopted by the CIM Council, as amended. These
definitions differ from the definitions in the disclosure requirements promulgated by the SEC.
Accordingly, information contained in this press release may not be comparable to similar
information made public by U.S. companies reporting pursuant to SEC disclosure requirements.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS:
This news
release includes certain "forward-looking statements" under applicable Canadian securities
legislation. Forward-looking statements include, but are not limited to, statements with respect
timing and completion of any drilling and work programs on the Property, estimates of
mineralization from drilling, geological information projected from sampling results and the
potential quantities and grades of the target zones, potential for minerals and/or mineral resources,
and statements regarding the plans, intentions, beliefs, and current expectations of the Company
with respect to the future business activities and operating performance of the Company that may
be described herein. Forward-looking statements consist of statements that are not purely
historical, including any statements regarding beliefs, plans, expectations or intentions regarding
the future. Such information can generally be identified by the use of forwarding-looking wording
such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative
thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking
statements, as there can be no assurance that the plans, intentions or expectations upon which
they are based will occur.
By their nature, forward-looking statements involve numerous assumptions, known and unknown
risks and uncertainties, both general and specific, that contribute to the possibility that the
predictions, estimates, forecasts, projections and other forward-looking statements will not occur.
These assumptions, risks and uncertainties include, among other things, the state of the economy
in general and capital markets in particular, accuracy of assay results, geological interpretations
from drilling results, timing and amount of capital expenditures; performance of available
laboratory and other related services, future operating costs, and the historical basis for current
estimates of potential quantities and grades of target zones, as well as those risk factors discussed
or referred to in the Company's Management's Discussion and Analysis for the year ended
December 31, 2020
, and the period ended
September 30, 2021
available at
www.sedar.com,
many
of which are beyond the control of the Company. Forward-looking statements contained in this
press release are expressly qualified by this cautionary statement.
The forward-looking statements contained in this press release are made as of the date of this
press release. Except as required by law, the Company disclaims any intention and assumes no
obligation to update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise. Additionally, the Company undertakes no obligation to
comment on the expectations of, or statements made by, third parties in respect of the matters
discussed above.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy
or accuracy of this release.
SOURCE
North Peak Resources Ltd.
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http://www.newswire.ca/en/releases/archive/April2022/07/c6945.html
%SEDAR: 00032415E
For further information:
Brian Hinchcliffe, CEO, Phone: +1-647-424-2305, Email:
[email protected], Website: www.northpeakresources.com; Chelsea Hayes, Director,
Phone: +1-647-424-2305, Email: [email protected]
CO: North Peak Resources Ltd.
CNW 09:59e 07-APR-22