Fairchild Gold (FAIR.V) received independent geophysical interpretation that "materially advanced" its drill-targeting strategy and identified five priority exploration targets for further refinement prior to drill testing at its Nevada Titan project in the Goodsprings Mining District of southern Nevada, it said on Friday.
The independent geophysical consultant, Wave Geophysics, identified five priority targets, with targets one and two emerging as the highest priority areas for continued refinement and potential phase one drilling.
"Our objective is to integrate every available piece of geological and geophysical information before positioning the initial drill holes," said Fairchild Gold chief executive Luis Martins. "If the geological model proves correct, the prize we are pursuing is not simply another historical style mine, but the potentially much larger mineralizing system that may have generated the district's widespread high-grade copper mineralization."
The company plans to continue working with its geological and geophysical advisers to further refine the five identified targets and establish a final priority ranking.
Shares of the company were last seen unchanged at C$0.06 on the TSX Venture Exchange.