Drilling Preparation For The Cold Springs Gold-Silver Project

VANCOUVER - Supernova Metals Corp. has received its drill permit for the Cold Springs gold-silver project in Nevada, and the company has engaged Falcon Drilling, Inc. to conduct up to 2,000 meters of diamond drilling on the project. The drill program is designed to target new, untested geophysical anomalies identified as the potential source of the project’s known mineralization and will be comprised of at least 4 holes. An announcement will be made when the drill program has commenced which is expected to begin next month.

“Historic drilling and sampling on the hilltop at Cold Springs have confirmed the presence of a gold and silver bearing system,” said, Sean McGrath, CEO. “What has yet to be discovered is the source of that mineralization.  Results from a ground magnetic survey recently completed by SUPERNOVA and a previously completed IP survey, combined with the local geologic data, suggests that the feeder system is likely to have been down dropped into the valley west of the hilltop and subsequently concealed by valley-fill alluvial cover. We look forward to testing this large geophysical anomaly and potentially identifying the source of the exposed mineralization.”

A recent three-dimensional induced polarization (IP) and resistivity survey identified a large, compact zone of low resistivity (< 35 ohm-m) approximately 200 meters west of the range front fault and west of exposures of second stage high-grade low sulphidation veins on the west flank of the central hill.  This zone extends deeper than the detection limit of the survey (approximately 200 meters below surface) and has a top at around 80 metres, the inferred approximate depth to bedrock beneath alluvium in this area.

The 2021 drill program will test the buried IP resistivity anomaly that is interpreted to potentially represent the buried roots of the epithermal system that is exposed across the range front fault on the hill to the east. Several drill holes will also test a chargeability feature that appears to be associated with the interpreted range front fault. These geophysical features may represent alteration and silicification related to a mineralizing system and offer compelling exploration targets that will be tested by this initial drill program.