Independence Valley, Elko County, Nevada
Independence Valley is comprised of 785 acres located in Elko County, Nevada on the southern extension of the Carlin Gold Trend and about 79 kilometers south-west of Newmont’s Long Canyon Project.
Independence Valley is also within the historical Spruce Mountain mining district which hosted many historic base and precious metals mines since the 1840’s. The Spruce Mountain deposits have typically been associated with rhyolitic and granitic intrusive rocks which Peloton believes are the “Smoking Gun” – indicating the location of the structural feeders for both the granitic magmas and gold-silver bearing mineralized fluids.
Independence Valley hosts the largest untested Rhyolite Dome in the Spruce Mountain Mining District.
Peloton has completed geologic mapping, soil geochemistry, and geophysical surveys including magnetics, gravity and CSAMT. Modelling of the geophysical data identified three structures within the rhyolite dome complex that are recommended for drill testing.
One reverse circulation hole was drilled on the property in 2019 to a depth of 1,140 feet. The hole was drilled away from the rhyolite dome structure and targeted a potential down dropped east limb of an NNW trending antiform. This hole encountered detectable gold mineralization over a continuous core length of 345 feet, in a fine grained hypabyssal intrusive and in the contact zone with adjacent Paleozoic carbonate sedimentary rocks. In addition, this hole intersected hydrothermal alteration over a continuous core length of 500 feet.
