Nevada Pacific Gold Ltd.
TSX VENTURE : NPG

Nevada Pacific Gold Ltd.

November 01, 2006 11:51 ET

Nevada Pacific Updates Cobre Lomas Exploration in Mexico

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 1, 2006) - Nevada Pacific Gold Ltd. (TSX VENTURE:NPG) is pleased to provide the following exploration update on the Cobre Lomas prospect in Sinaloa state, Mexico. Cobre Lomas is one of five priority exploration targets located near the central portion of the Rocio Trend, a northwest trending zone approximately 16 kilometers long by 5 kilometers wide located in the 132,000 hectare (510 square mile) Magistral claim block in Sinaloa state, Mexico.

At Cobre Lomas a broad area of calc-silicate skarn alteration mapped in float and limited outcrop exposures combined with widespread anomalous mineralization in drill holes is interpreted to indicate the potential at depth for a large mineralized body of higher grade skarn mineralization. To test this interpretation the Company has mobilized a core drill to the area where drilling is underway.

A Phase 1 percussion drilling program of 54 holes in four areas within the alteration zone was completed in September and a Phase 2 percussion drill program consisting of an additional 43 holes completed in October. All of the percussion holes were drilled vertically and sampled on 3 meter intervals. The drilling has confirmed the widespread extent of anomalous mineralization and alteration that is characterized by silicification, epidote, and magnetite over an area of 600 meters by 300 meters.

The objective of the trenching and percussion drill program is to expand upon initial results from prospecting in the area. The main showing is located at a small prospect pit located on the western edge of the current area of interest where a grab sample returned values of 22.6% lead, 2.21% copper, 231 g/t silver, 0.605 g/t gold, and 0.38% zinc. 3 of the 6 trenches cut in this area intersected the mineralization in a structure along 150m of strike of northeast strike that dips moderately to the northwest. The trench over the prospect pit returned the best values with 2 meters of 234 g/t silver, 1.69% copper, and 20.10% lead.

In the immediate vicinity of the trenching 16 vertical percussion holes were completed to the equipments limit of 27 meters. Most of the holes contained anomalous values of: Zinc over intervals of 3 to 27 meters grading from 0.10% to 0.24%; Lead over intervals of 3 to 24 meters grading from 0.10% to 0.51% and copper is present to a much lesser degree with intervals of 3 to 6 meters grading from 0.10% to 0.37%. Anomalous gold is present in 2 holes and anomalous silver was also found in 2 holes in this area.

Approximately 150 meters east of the prospect pit an additional 12 close spaced percussion drill holes were completed. Half of the holes showed anomalous base metals over 3 meter intervals. Zinc is present in 3 holes with values ranging from 0.10% to 3.88%. One interval that includes 1.26% Lead and 3.88% Zinc is from the last interval of the drill hole, and further percussion drilling in the area is underway to investigate this occurrence.

The third area drilled is located approximately 600 meters northeast of the prospect pit where 11 percussion drill holes were completed. Mapping and sampling from recent trenching shows copper to be hosted along northeast striking structures, similar to that found in the original discovery prospect pit. In the drilling 8 of the 11 holes returned anomalous values of copper with intervals ranging from 3 to 21 meters with grades ranging from 0.08% to 0.34%.

The fourth area drilled is located approximately 500 meters east northeast of the prospect pit where 15 percussion drill holes have been completed along a northeast-southwest section of approximately 200 meters. Anomalous copper, lead, and zinc values were found in 4 of the holes on the southwestern limit where further drilling is currently in progress.

Phase 2 drilling consisting of an additional 43 percussion holes has been completed and assays from the first 6 holes have been received. Two of these holes are located at the southeast edge of the known alteration zone, with one of the holes showing significant gold values that range from 0.112 to 10.95 g/t. The average grade for the entire 27 meters is 1.933 g/t Au that includes 12 meters of 4.093 g/t Au.

Work completed to date has demonstrated the extent of alteration in the area to be of significant size, and the Company considers the area to have good potential for success.

ALS Chemex has assayed all samples. Reported interval lengths are based on sampling intervals and no interpretation of true widths of mineralization has been estimated at this time. All work on the project is overseen by Ross Zawada, P.Geo., a Qualified Person as defined by National Instrument 43-101 and is responsible for program design and quality control of exploration undertaken by the Company in Mexico.

Nevada Pacific Gold Ltd. was founded in March 1997. The Company owns an exploration property portfolio covering approximately 890 square miles of mineral rights in Mexico including the Magistral Gold Mine and an exploration property portfolio covering approximately 85 square miles of mineral rights in the State of Nevada. A description of these projects, including maps and photographs, can be viewed on the Company's website at www.nevadapacificgold.com.

ON BEHALF OF NEVADA PACIFIC GOLD LTD.

David Hottman, Chairman


The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Nevada Pacific Gold Ltd.
    Erick Bertsch
    (604) 646-0188
    or
    Nevada Pacific Gold Ltd.
    David Hottman
    (604) 646-0188
    (604) 646-0189 (FAX)
    Website: www.nevadapacificgold.com