Company Overview
Nevada Gold Holding's focus is on gold exploration in Nevada – a world-famous and mining-friendly state. In 2005, approximately 7 million ounces of gold were produced in Nevada, placing Nevada third behind politically unstable South Africa, and Australia. Nevada produces 75% of the US gold production and 10% of the annual global take. The state is home to some of the largest known gold deposits on earth.
Over the last two decades, the development and expansion of mines such as Goldstrike/Betze-Post, Meikle, Pipeline, Round Mountain, Twin Creeks and Gold Quarry have proven Nevada is a key global gold producer. The infrastructure in Nevada for recovery of gold from a variety of ore types has dramatically improved with increased capital investment by major mining companies and global investors.
Dave Mathewson has built his entire career on prospecting, exploring and developing world class gold deposits in Nevada. He has spent more than 35 years in the state analyzing all of the different opportunities. Dave has personally identified several gold deposits containing a composite of more than 5 million ounces and managed Newmont Mining's Great Basin and Carlin Trend exploration programs that were responsible for discovering and significantly expanding several additional gold deposits.
Throughout his successful career, Dave has been constantly on the lookout for high potential gold exploration properties. The property that forms the foundation of Nevada Gold Holdings is one of the best exploration properties Dave believes that he has seen. He believes the property is capable of finding a world class deposit in the 5 million ounce range
Why Nevada
The state of Nevada maintains a reputation as a geologists' and miners' paradise for a number of reasons. For starters, geologists only care about things that are tens, sometimes hundreds of millions of years old, back when jungles and oceans existed on this planet in places where deserts and mountains stand today. Nevada is so barren that major parts of it are essentially America's answer to the moon, meaning relatively little pesky shrubbery to obstruct observing and evaluating geological formations and rock characteristics. In fact, with the exception of a few small rivers that feed into the Colorado River on the southernmost border, or into Idaho's Snake River from the NE corner of the state, no rivers lead out of Nevada into the ocean. Geologically most of Nevada is part of a sunken desert known as The Great Basin where all streams eventually meander to a place where the water simply evaporates or sinks into the ground. Secondly (actually firstly), Nevada "has got the beef." The modern economic history of the state starts with the Comstock Lode ("The mine that helped save the Union"). Today, Nevada is the world's third largest gold producer after South Africa and Australia. Major gold trends exist in Nevada with the Carlin, Eureka and Cortez being the most famous. Other, less explored trends exist including the north – south Rabbit Creek trend.
A proverbial saying in the gold mining business is that if you want to find elephants, go to elephant country where big elephants have already been found. According to the Nov 2002 Gold Newsletter, "The rich Carlin Trend is second [in the world] only to the legendary Witwatersrand Basin of South Africa in terms of gold reserves..." Dave Mathewson believes the Rabbit Creek trend holds the same potential.
A highly competent geologist is doing extremely well relative to his peers to uncover two or three economic deposits in a 30-year career that might have 250,000 ounces in reserves apiece. Nevada trend numbers are so huge by industry standards, that it may be more appropriate to refer to the major Nevada Trends as "Super-Elephant" country. Dave Mathewson has been responsible for discovering several large gold deposits in excess of 5 million total ounces while working at Newmont Mining. He knows the potential exists for additional world-class discoveries.
An Aug 3, 2004 Raymond James research report noted that 31.5 million ounces have been proven up to date in the broader Battle Mountain-Eureka Trend compared to 107 million ounces for the Carlin trend. The report reasons that since 23.5 million ounces have been discovered in the last 13 years (since 1991), the trend very likely "is still in `exploration infancy' compared to the Carlin trend, which has been explored since the 1960's." The Rabbit Creek Trend is a newly developing region which holds significant promise.
The conclusion is that Nevada remains one of the most attractive exploration areas in the United States and frankly the world. Instead of choosing remote, politically unstable countries, the management of Nevada Gold Holdings has focused on Nevada acquisitions based on positive geological information indicating the possible presence of one or more large gold deposits.
Tempo Prospect
Approximately 160 holes previously drilled within property Property originally identified and staked as a gold prospect by well-known, successful Nevada prospector, Lyle Campbell, in 1968
146 contiguous unpatented lode claims, approx. 2920 acres, 4.6 square miles, controls numerous indicated district-scale target opportunities
Tempo prospect is located on the southern portion of the north-south trending Rabbit Creek Gold Trend, a prolific gold belt containing at least 50 million known ounces of gold
Approximately 160 holes previously drilled within property
- approx. 70% of holes were 300 feet, or less, deep
- approx. 65% of holes intersected significant gold >100ppb to 0.32ozAu/st
- Geology, geochemistry and alteration is “typical” Carlin gold deposit-style
Abundant data generated by several previous companies, data include:
- geologic maps
- abundant rock and soil geochemistry
- drill hole logs and assays
- some gravity data and ground magnetic surveys
Target Explanations
- Nothern Target: Lower-plate carbonate rocks. Large areas of decarbonization and jasperoids with anomalous gold and arsenic.
- Skarn Target: Lower-plate corbonates intruded by Laramide diorites with accompanying scarn alteration. Low-levels of gold encountered in sparce drill holes.
- Central Target: Gold and arsenic in soils, up to 6.5 ppm Au, straddling upper-plate carbonates.
- Southern Target: 5000 foot soil and rock anomaly in upper plate sliciclastic rocks. Trench anomalies ranging from 0.30 to 0.56 ozAu/st, and drill hole intercepts of 10 to 80 feet ranging from 0.025 to 0.164 ozAu/st in holes drilled to 205 ft.
Industry Press
Gold, Silver Climb as Dollar Falls - WSJ
By ALLEN SYKORA
Gold and silver futures bounced from overnight weakness Tuesday in response to a softer U.S. dollar, although the metals also ran into bouts of profit-taking.
August gold rose $4.40 to $984.40 an ounce on the Comex division of the New York Mercantile Exchange. July silver rose 22 cents to $15.955 and peaked at $16.02, its strongest level since August.
Silver futures rose as the dollar weakened.
"Overnight, you had some profit-taking across the board in commodities," said Bob Haberkorn, Lind-Waldock senior market strategist. "People were anticipating dollar strength on [Treasury Secretary Timothy] Geithner's comments in China. But that never materialized, and the dollar weakened.
"That has lent to some strength back in the gold and silver market."
Shortly after gold closed, the euro was up to $1.4307 from $1.4159 late Monday. The single European currency hit a $1.4314 peak that was its most muscular level against the greenback since Dec. 29.
Mr. Haberkorn said he anticipates a pullback in gold after its sharp rally since last week just due to profit-taking rather than any change in the fundamental outlook. "With Geithner's comments not giving any lift to the dollar, it's very encouraging for the gold and silver market," he said.
The Treasury secretary said the U.S. administration is committed to a strong dollar.
Gold tended to move in a herky-jerky fashion, rising, falling back to steady, rising, and falling back to steady. This occurred as the weak dollar and gold profit-taking offset one another, said Michael Gross, broker and futures analyst with OptionSellers.com. The fact that rally attempts by the metals frequently stalled "tends to indicate the market is a little overdone and needs a breather right now," Mr. Gross said.
Mr. Gross put the next major resistance for August gold around $1,008 an ounce, roughly where it peaked in February. He put support at failed resistance around the March high of $971.
In July silver, any meaningful resistance lies a few pennies above the market, as prices are now back in the area where they fell precipitously late last summer. Support lies at failed resistance at the February high of $14.64, Gross said.
Meanwhile, July platinum rose $22.80 to $1,243.40 an ounce, while September palladium gained $7.60 to $251.35 an ounce.
"With the U.S. dollar taking a beating, some investor sentiment is coming back into the PGMs, as well as gold and silver," said one trader.
July platinum hit a $1,246.90 peak in screen trading after the pit close. This was its strongest level since a pair of highs in mid-April at $1,251 and $1,252, which are nearby resistance. September palladium, meanwhile, accelerated through the high last month of $246.95 and peaked at $254.50, its strongest level since September.
Recent NGHI News:
May 18 -
Nevada Gold Holdings Inc. Appoints Dave Mathewson as CEO, President and Chief Geologist
Nevada Gold Holdings, Inc. (OTCBB: NGHI), a mineral exploration company focused on identifying and developing large-scale gold deposits in Nevada, is pleased to announce that at the end of 2008, Dave Mathewson was appointed as CEO, President and Chief Geologist of the Company.
Dave Mathewson is well known in the Nevada gold community. He has been an exploration geologist for over 35 years and has spent the last 20 years focusing in Nevada. Mr. Mathewson is one of a handful of successful geologists in Nevada who has consistently found large commercial gold discoveries. One of his biggest successes was as head of Newmont Mining’s Great Basin and Carlin Trend exploration programs. During a 12-year period of time with Newmont, Mr. Mathewson and his teams were directly responsible for the discovery and expansion of more than 25 million ounces of gold. Prior to Nevada Gold, his junior public company experience was as Head Geologist and Vice President of Exploration with Tone Resources, which traded on the Toronto Venture Exchange and was acquired by US Gold (NYSE: UXG).
Mr. Mathewson has often made contrarian bets based on his vast knowledge of North Central Nevada geology and gone against popular belief to explore where no one else has been interested. Such risks have paid off greatly during his career. Mr. Mathewson discovered approximately five million ounces of gold in the Rain district of Nevada among four separate deposits. Mr. Mathewson also led Newmont’s Great Basin exploration team which was responsible for the discovery of the three to five million ounce Peninsula gold-bearing gravel deposit south of Battle Mountain. As Manager of Exploration for Newmont on the Carlin Trend, the exploration team discovered significant extensions of gold mineralization at Newmont’s Gold Quarry mine and Mike deposit, comprising an additional probable 10 to 15 million ounces. During his tenure with Newmont Mining, Mr. Mathewson was involved with and drove the process of numerous acquisitions, many of which led later to discovery of gold deposits.
“I am very excited to take on this endeavor,” said Mr. Mathewson. “My goal is to build a portfolio of exploration properties with world class gold deposits, developing the Company into a prestigious exploration company. I believe these efforts will enhance value for our shareholders.”
Carl Pescio of Allied Nevada Gold (NYSE: ANV) has personally known Dave Mathewson for many years. The two have collaborated together on various projects in the past. Mr. Pescio said, “I hold Dave’s geological capabilities in high regard, and I believe Dave Mathewson is one of the best geologists an exploration company can have for Nevada.”
Nevada Gold Holdings
P.O. Box 2619
Fernley. Nevada USA 89408
516.482.0155
http://www.nevadagoldholdings.com
