Nxgold learns rules about making references to nuggets
2018-06-29 12:15 ET - News Release
Mr. Travis McPherson reports
CLARIFICATION OF NEWS RELEASE DATED JUNE 28, 2018, "MAIDEN TRENCHING CONFIRMS POTENTIAL SOURCES OF GOLD NUGGETS AT MT ROE."
As a result of a review by the Investment Industry Regulatory Organization of Canada (IIROC), Nxgold Ltd. has clarified its latest news release dated June 28, 2018.
The company has made numerous references to gold nuggets and/or visible gold in the news release without providing a grade of the mineralized zone(s) or the method of sampling. IIROC considers this to be vague, overly promotional and misleading disclosure. A clarification on how a potential source can be confirmed was also requested.
Nxgold clarifies that it has identified the presence of the inferred or potential conglomerate gold host sedimentary sequence proximal to an accumulation of melon-seed-shaped gold nuggets.
Nxgold clarifies that it has identified a quartz vein structure bearing visible gold as a potential source for gold recovered in an area known for abundant historical metal detector diggings. The observed visible gold in a vein structure is not representative of the whole vein exposure in the trench. As mentioned in the June 28, 2018, news release, sampling has been undertaken on the trench and will be reported as the results become available and are reviewed.
Nxgold advises that the Mount Roe gold project is an early-stage exploration project utilizing an evolving gold deposit model for a paleo-placer style of mineralization. Abundant exploration work is required to understand the previously unrecognized sedimentary geology and confirm if the source of the coarse gold is located within Nxgold's tenements. There is no certainty of the discovery or definition of a mineral resource.
Nxgold clarifies that the use of metal detecting is a binary indicator, presence or absence, of detrital gold being shed from potential host lithologies. The presence or absence of gold nuggets does not indicate with any certainty the presence of a mineralized zone. The method involves walking topographical features such as hilltops, drainages and gullies that cross lithological contacts and units of interest seeking a response from a metal object. A response from the detector is indication of a metallic object being present, which can vary from bullet casings and pull tabs to gold nuggets. Finding these gold nuggets, in a strict sense, are selective in nature and are not representative of the property as a whole; not every signal is the result of a gold nugget, and much of the area covered by detectorists provided no indication of the presence of metallic objects.
Nxgold clarifies that metal detecting on the property is undertaken by qualified individuals; nugget locations are captured with a hand-held GPS (global positioning system) unit; general size and morphology are also recorded; and photos and weights are also captured. Areas covered are tracked through the hand-held GPS unit. Any trash recovered is properly disposed of. Gold nugget samples are not sent for analysis.
Nxgold confirms chip samples and grabs samples have been collected from the initial trenching program, the results of which will be reported along with the sample type, methodology and quality assurance/quality control protocol followed and the laboratory and analysis methods used once the results have been received and reviewed.
About Nxgold Ltd.
Nxgold is a Vancouver-based exploration company. The company owns 80 per cent of the Mount Roe gold project located in the Pilbara region of Western Australia. The company has also entered into an earn-in agreement with Meliadine Gold Ltd. to earn up to a 70-per-cent interest in the Kuulu project (formerly known as the Peter Lake gold project) in Nunavut.
Technical disclosure
Metal detecting is an exploration method that is a form of selective sampling; gold nuggets and other metallic material (such as pull tabs and bullet casing) are collected based on a signal received from the metal detector and dug from generally small volumes (under one kilogram) of identified overburden material. Results of this exploration method are not necessarily representative or indicative of locally derived mineralization.
Grades are not reported from metal detected samples as the method is used to determine the presence or absence of detrital gold. This then guides additional exploration activities undertaken to determine if a local source or mineralized zone is present. There is no certainty that a source will be identified, and, if a source is identified, it may not become a mineral resource.
The scientific and technical information in this news release has been prepared or approved by Darren Lindsay, vice-president, exploration and development, of the company, a qualified person within the meaning of National Instrument 43-101, Standards of Disclosure for Mineral Projects.
https://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aNXN-2628958&symbol=NXN®ion=C
[url=https://peketec.de/trading/viewtopic.php?p=1841662#1841662 schrieb:
Kostolanys Erbe schrieb am 28.06.2018, 22:25 Uhr[/url]"]
Nxgold halted at 7:30 a.m. PT
2018-06-28 10:34 ET - Halt Trading
Nxgold Ltd. has been halted at 7:30 a.m. PT on June 28, 2018, pending clarification of news.
https://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aNXN-2628136&symbol=NXN®ion=C
Nxgold trenching indicates gold nuggets at Mt. Roe
2018-06-28 09:16 ET - News Release
Mr. Christopher McFadden reports
MAIDEN TRENCHING CONFIRMS POTENTIAL SOURCES OF GOLD NUGGETS AT MT. ROE
Nxgold Ltd. has provided an update on its 2018 exploration program at the Mt. Roe project and the Prinsep project located in the Pilbara region of Western Australia. The company has recently completed an initial program of trenching and targeted follow-up work at Mt. Roe, and undertaken early reconnaissance at Prinsep. The data collected are currently being compiled to direct the next phases of work.
Mt. Roe project:
Fifteen trenches totalling 417 metres in length were used to initially evaluate approximately 1.8 kilometres of the seven km of prospective strike extent for the target sediment horizon.
Eight trenches, totalling 238 m, were focused on exposing and tracing the known sedimentary exposures in the conglomerate area.
A single trench, totalling 28 m, exposed geological units in the Dryblower area.
Three trenches, totalling 120 m, were used to trace the target horizon to the southeast.
Two trenches, totalling 31 m, were used to evaluate an area of known specimen gold nuggets.
Prinsep project
A first pass orientation of the Prinsep project was undertaken to assess the prospects of Nxgold's land package that sits 12 kilometres northwest of the company's Mt. Roe claims. A site where 45 gold nuggets were detected was confirmed highlighting the prospectivity of the Princep project. Further work to better understand the geology and gold morphology at Prinsep will follow.
Christopher McFadden, chief executive officer, commented: "We have continued to discover gold nuggets across the Mt. Roe property and the results from the initial exploration trenching work is very encouraging. The geological features are continuing to provide insight on this exciting project. Additionally, sourcing 45 gold nuggets on the Prinsep licences is also very exciting. Now that we have closed our successful $4.3-million financing, we are looking forward to undertaking expanded follow-up work on our projects that will be guided by this initial work."
Conglomerate area
As a result of the initial trenching, sedimentary rocks interpreted to be the source of the melon-seed gold nuggets have been locally exposed over approximately 160 m of strike, including immediately adjacent to locations of recently collected gold nuggets, many with classic melon-seed shape and texture. A second phase of trenching is now proposed in this area to expose a larger volume of highly prospective sedimentary rock units for the purpose of larger-scale sampling in the near future.
Target trend trenches
Compilation of the detailed information gathered from these preliminary trenches remains under way and is expected to guide the next phase of exploration. From this preliminary trenching program along trend more detailed mapping of structures affecting the trend is warranted in conjunction with an expanded trenching program.
Dryblower area
A single trench was used to expose units expected to be at a similar stratigraphic level as the target sedimentary horizon and further evaluate the source of abundant gold nuggets at surface in this area. Numerous shear and vein structures were exposed and sampled with results pending.
Specimen target area
Two trenches bracketing 10 m of strike in an area of intense, historic specimen gold nugget workings exposed numerous vein structures, one of which contained coarse visible gold. Trench samples across the vein structures have been submitted for analysis, results are pending.
About Nxgold Ltd.
Nxgold is a Vancouver-based exploration company. The company owns 80 per cent of the Mount Roe gold project located in the Pilbara region of Western Australia. The company has also entered into an earn-in agreement with Meliadine Gold Ltd. to earn up to a 70-per-cent interest in the Kuulu project (formerly known as the Peter Lake gold project) in Nunavut.
The scientific and technical information in this news release has been prepared or approved by Darren Lindsay, vice-president of exploration and development, of the company, a qualified person within the meaning of National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.
https://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aNXN-2628062&symbol=NXN®ion=C
Guten Morgen! 
wenn, dann werden Werte wie Hive oder Kash von einer Trendwende profitieren, theoretisch auch wenn die Preise für die Coins auf diesem Niveau verbleiben........Kash hat ja noch diese Steuersoftware am Start
8)
