Nevada Canyon Gold Corp. Buys into Nevada’s Pikes Peak

Nevada Canyon Gold Corp., through its subsidiary Nevada Canyon, LLC, has entered into a binding Purchase Agreement to acquire a 2 percent net smelter returns royalty (NSR) on the Pikes Peak Project in Mineral County for $150,000.

The acquisition is from Walker River Resources, LLC, a subsidiary of Walker River Resources Corp., which owns the project.

“This continues our Nevada-based royalty acquisition roll-up,” Alan Day, President and CEO of Nevada Canyon, said. “The addition of the Pikes Peak increases our royalty portfolio and adds another asset with significant upside. As with all Nevada Canyon royalty purchases, it offers excellent leverage to gold prices and now adds some copper potential.”

The Pikes Peak Project comprises 36 unpatented lode mining claims within the northern section of the Walker Lane gold trend. Historically, the site has seen substantial mining activity, including numerous shafts, adits, and a mill. Recent regional sampling by Walker River returned promising results with values of 9 grams per ton in gold and 2.2 percent copper from outcrop samples.

In 2022, Walker River conducted an initial RC drill program at Pikes Peak to gather geological data for future exploration. Despite the limited data from this program, the company reported a significant discovery of gold mineralization.

Current efforts are on rehabilitating historical underground workings that are presently inaccessible due to minor cave-ins and loose material at the entrances. These efforts aim to collect detailed geological information, which, combined with the 2022 drill results, will guide the next phase of exploration scheduled for 2024.

The Pikes Peak Project is approximately 40 miles southeast of Yerington. Notably, modern-day drilling or exploration activities have not been reported at Pikes Peak until Walker River’s recent involvement, unearthing the project’s untapped potential for significant gold-copper mineralization.