First Drill Hole At The South Mine Fault Expansion At Bolo Gold Zones At Depth

VANCOUVER - New Placer Dome Gold Corp. reported analytical results for the first reverse circulation (RC) drill hole of the Company’s 2020 Bolo Gold-Silver Project. With the completion of the first drill-hole BL20-01, the Company has doubled the vertical gold and silver continuity (on section) versus the historical drilling. In addition to the gold values, the new drill-hole has also reported significant silver results. The Bolo Gold-Silver Project is located in the proven and prolific mining area of Nevada.

Hole BL20-01 located in the South Mine Fault Zone, intersected 1.08 grams per tonne (g/t) gold and 26 g/t silver over 38.1 meters; including 1.80 g/t gold over 12.2 meters. The BL20-01 intercept expands gold mineralization approximately 40 meters vertically below 2019 drill hole BL19-04 that intersected 122 meters of 1.2 g/t gold in hole BL19-041, and delivers on one of the key goals of the 2020 Bolo Project drill campaign, which is test Carlin-style gold mineralization at depth in the South Mine Fault Zone where it remains open and untested. To date, 8 RC drill holes totaling 2,301 meters have been drilled as part of the 2020 Bolo Project drill program.

Kris Raffle, P.Geo., and Director, said, “The success of our 2019 Bolo drill campaign has given us the confidence to fully test new targets in 2020 and the interpreted south-dipping continuity of gold-silver mineralization at the South Mine Fault Zone. The results of this initial drill hole, and visual indications of Carlin-style mineralization within additional drill holes for which assays are pending, are encouraging.”

RC drilling at Bolo defines a 1.2 kilometer north-south trending corridor of gold-silver mineralization containing the South Mine Fault Zone, Uncle Sam, and Northeast Extension zones. Gold mineralization at Bolo exhibits characteristics of classic Carlin-type mineralization, including strong sub-vertical structural control in addition to evidence of gold mineralization extending laterally at low angles within favorable silty carbonate units. The relatively untested 500 m strike length South Mine Fault-Uncle Sam segment is particularly prospective and is the focus of New Placer Dome’s 2020 exploration designed to prove-out these compelling structural and stratigraphic gold targets.