First Vanadium Strikes Gold At Carlin Project In Nevada

Vancouver-based First Vanadium (TSXV: FVAN) announced that the company’s geological advisor, Dave Mathewson, identified a gold target opportunity below the vanadium resource on the Carlin vanadium project in Nevada, USA.
In a press release, the miner said that the gold system was detected from results from its first reverse circulation drill hole designed to provide an initial penetration into the potential gold target.
“With our very first hole we have drilled into a significant large-scale Carlin-type gold system at a reasonable depth, much like I have seen elsewhere in the Carlin Gold Trend,” Mathewson said.
“Typical Carlin-type deposit system geochemistry and alteration were encountered in this hole, indicated by gold, arsenic, mercury, antimony, and thallium. This, along with other critical features including key rock formations, collapse brecciation and strong alteration make it potentially analogous to other important Carlin-type deposit systems such as Nevada Gold Mines’ massive Gold Quarry deposit.”
According to Mathewson, the highest levels of gold and associated pathfinder metals were in the best possible location, specifically the upper silicified, collapse brecciated lower plate Popovich Limestone.
“Because of the significance of this first hole, we are immediately resuming reverse circulation drilling for the purpose of assessing the extent and strength of the system and to begin vectoring into hot spots within the system,” he said.
The Carlin property consists of 150 unpatented mining claims and 80 acres of fee simple land covering 2,608 acres located in north-central Nevada in Elko County, seven miles south of Carlin.
The project was initially explored by UCC from 1966 to 1970, and 47 years later, First Vanadium acquired it.