In a news release, Riley Gold Corp. (RLYG:TSX.V; RLYGF:OTCQB) announced it agreed to acquire additional land in Nevada, thereby extending its Pipeline West/Clipper (PWC) property toward Nevada Gold Mines' cluster of mines in the Cortez complex of the Battle Mountain-Eureka Trend.
The acquisition consists of two claim blocks spanning 1.26 square miles in Lander County, located 80 kilometers southwest of the city of Elko. The additional land closes the property gap, along strike, between Riley Gold's early-stage exploration project, PWC, and Nevada Gold Mines' Gold Acres, Gap and Pipeline deposits.
"This property transaction was important in order to enhance Riley Gold's district-scale land package and cover the west-to-east extension of the Wenban geological unit that is known to be the host of gold mineralization in this district," said William Lamb, executive chairman of Riley Gold's board.
The Canada-based company intends to design an exploration program for this additional land, based on known information about the district and historical data, to fully test the Wenban target.
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