StockWireNews
NXGM Blitzes This Morning's Bell, Up Approximately 273%
*Get This Breakout Idea On Your Radar*
November 27th
Good Morning,
NXGM has been a wrecking ball in the early moments of today's session.
Up approximately 273% at around $.06, could NXGM be ready for even more vertical growth this AM?
Remember, this is a low float idea which means it's susceptible to volatility/price spiking, so keep a close eye on it today.
Also, check out my report on NXGM below if you haven't done so yet.
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We're one day out from Thanksgiving, but I'm already in the giving spirit.
That's why I studied the markets, went through press releases, and looked into specific companies to find a new breakout idea for you today.
What I uncovered is your new breakout idea for 11/27:
> NexGen Mining, Inc. (NXGM) <
NexGen Mining, Inc. is a diversified and experienced junior mining company engaged in the acquisition, exploration and development of mining properties.
NXGM could be a low float breakout star today...
OTC Markets reports NXGM to have a float of roughly 4.7Mn shares which means volatility could come into play if momentum floods into this profile.
Do yourself a favor and get NXGM on your radar really quickly.
Most Recent NXGM News
This summer's acquisition could turn out to be a major move for NXGM. Read here:
NexGen Mining Announces the Acquisition of the Mackinaw Mine Nickel, Cobalt, Gold Property, Snohomish County, Washington
NexGen Mining Incorporated (OTCPK:NXGM) (“NexGen” or the “Company”) is pleased to announce it has acquired a 100% interest in the Mackinaw Mine Property with the signing of an Exploration and Mining Lease and Option to Purchase Agreement that encompasses 200 acres of Forest Service land, situated in the Cascade Mountains of Washington, from Vesper Resources, LLC (“Owner”).
The claims cover an outcropping of ultramafic rocks that host a mineralized zone containing ore grade concentrations of nickel, copper, cobalt and gold. Mineralized serpentine can be traced on the surface for over 2,600 feet. The Mackinaw mine ore has been described in detail by Milton and Milton in their article: Nickel-Gold Ore of the Mackinaw Mine, Snohomish County, Washington, Econ. Geol., Vol. 53, 1958, pp. 426-447. Their report emphasizes that the ore is a unique type consisting primarily of niccolite, maucherite, pentlandite, chalcopyrite, cubanite and magnetite. Vallerite, gold and sphalerite are also primary minerals, as well as mackinawite, named for this locality.
“Considering our nation’s current initiative to identify and secure domestic sources of critical strategic metals, it is only natural for NexGen to capitalize on the current advantageous climate and focus our exploration on nickel, cobalt, copper and gold,” said Marc J. Andrews, NexGen’s President and Chief Executive Officer. “The Company is poised to deliver on this directive and benefit from the bright growth outlook in the domestic market.”
Previous work on the Mackinaw Mine includes intermittent exploration and production since the early 1900s primarily for the gold and copper. Underground workings consist of over 2,000 feet of drifts, crosscuts and raises along five different adits. Renewed interest in the 1940s was sparked by an emphasis on strategic metals during WWII, and resulted in considerable research and exploration by USGS Strategic Minerals Investigators. Continued interest by the U.S. Bureau of Mines in the 1950s and 1980s of the nickel and cobalt content resulted in additional sampling and estimates of resources.
Studies by the United States Bureau of Mines in their investigations of strategic metals have defined an indicated resource for the principle ore body in adit #3 of between 50,000 and 80,000 tons at a grade of 1.7% copper, 0.96% nickel and 0.14 oz/ton gold.
Inferred resources for the remainder of the known mineralized zones could be reasonably estimated at an additional 80,000 tons. The potential for expansion of these resources lies in the downward extension of the main shear zone and locating other areas of similar enrichment within the ultramafic body.
The lease requires the Company to make advanced royalty payments annually and conduct exploration according to a Work Commitment schedule. The agreement also includes a royalty payment that is equal to two percent (2%) of the Net Smelter Returns (“NSR”) from the production or sale of minerals from the property. Owner has granted the Company the exclusive right to purchase the property, subject to the Royalty reserved by Owner, for a purchase price of $200K.
About NexGen Mining, Inc.
NexGen Mining offers a solid base of strategic assets in North America and is complemented by development, and exploration projects and continued assessment of accretive acquisition opportunities. As they continue to develop and build on their existing exploration assets and pursue additional opportunities, they remain committed to building a sustainable business today with a focus on tomorrow.
NEXGEN MINING PROJECTS
Their management team carries a proven track record in mine exploration, development, and production. NexGen Mining assets consist of seven precious metals projects situated in Nevada and the entire data set for the Muskox Intrusion (valued at over $3Mn). Nevada accounts for about 72% of annual U.S. gold production and is the 4th largest gold producer in the world behind China (1), Australia (2) and Russia (3). Nevada mines produced 5,641,538 ounces of gold in 2017 at a value of $7Bn.
PARADISE MINE
The Paradise Peak Mine model was previously explored as a caldera with deposits clustered around the margins of the ring faults. Recent work in the district suggests a more complex system with overlapping alteration and mineralization systems from nearby intrusives such as the Sullivan porphyry.
OLD DOMINION - RENO, NV
The Old Dominion Mine is an epithermal silver-gold mineral system that is situated 23 miles north of Reno, Nevada along the south side of Nevada State Route 445. NexGen Mining currently controls 10 claims (200 acres) covering multiple veins along a structural corridor hosted in Tertiary volcanic rocks. The Old Dominion Mine model was previously explored as a caldera with deposits clustered around the margins of the ring faults. Recent work in the district suggests a more complex system with overlapping alteration and mineralization systems from nearby intrusives such as the Sullivan porphyry.
KOEGEL HILLS – NEVADA
The company’s 100% owned Koegel Hills Property consists of 10 unpatented claims encompassing 200 acres located in Mineral County, Nevada. The project is an extensive copper-gold bearing porphyry system manifested by intense surface alteration that extends for more than six square miles.
In the early 1990’s, Santa Fe Minerals Company (“Santa Fe”) staked the area and conducted a limited drilling program, which intersected significantly large zones of strongly anomalous copper and gold. Values greater than 4.0% copper and 0.030 opt gold were reported in several five-foot drill samples. Santa Fe released the property when the Company was taken over by Newmont Mining Company.
THE FOUR MILE BASIN GOLD PROPERTY
The Four Mile Basin Gold Property has two unpatented claims consisting of 20 acres and is situated in Nye County, Nevada. The claims encompass a substantial hot springs system that is characterized by prevalent surface sinter and feeder veins composed of crustiform banding and quartz replacing calcite textures.
GOLD STAR – NEVADA
The Gold Star Property is a high-grade precious and base metal deposit located in Mineral County, Nevada. In the project area, two types of mineralization have been encountered, free gold and copper mineralization associated with a skarn system and high-grade silver-lead-zinc mineralization hosted in a major east-west trending fault zone hosted in carbonates.
PYRAMID - NEVADA
The Pyramid Mine is a high-grade, silver-gold-lead-zinc vein and stockwork system hosted in altered Tertiary dacite and rhyolite tuffs situated along the northeast bounding portion of the northwest-trending Walker Lane structural zone. Over 10 million oz. of gold-silver mineralization has been discovered along this narrow, deep-seated, fault zone which host the Pyramid, Olinghouse, Talapoosa, Rawhide, Fairplay-Paradise Peak, San Antone-RyePatch-Midway, Hannapah-Monitor, Ellendale, Golden Arrow, Silverbow and Eden mining districts. Intermittent small-scale mining operations have occurred in the Pyramid Mine area since 1910, which produced limited quantities of high-grade ore and concentrates.
http://nxgminc.com/
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