Firetail Resources (ASX: FTL) has reported exploration success at its Excelsior Springs gold project in Nevada, USA, after adding new acreage. Firetail Resources focuses on the exploration and development of critical minerals. The company aims to discover and develop projects that meet the growing global demand for resources essential to clean energy and technology.
According to the company, a field crew recently found six previously unrecognised workings within the existing project area and newly staked claims, including a large adit. Firetail added the Nevada project to its portfolio in early June and is already evaluating drill targets via field-based exploration work. The company defined six priority target areas at Excelsior Springs for its initial phase of detailed field-based exploration, using a combination of drilling, geochemistry, induced polarisation test work, mapping, shafts, pits, and trenching.
Managing director Glenn Poole said Firetail targeted the new areas following a mapping exercise that indicated the presence of Tertiary felsic intrusives. These intrusives are known to have the potential to host significant gold mineralisation in the region. Poole stated that Excelsior Springs exhibits characteristics of a substantial gold mineralising system, featuring multiple deposit styles, structural settings, and host lithologies.
Firetail also reported it has completed field work at the Picha copper project in Peru. The company funded the multi-disciplinary exploration activities through an equity-free BHP Xplor grant and expects to receive the final results from this program in August.
