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NV Gold Assays 4.049 GPT Gold Over 16.8 Meters at Afgan, Confirms Gold Resource Remains Open

Vancouver, British Columbia – NV Gold Corporation (TSX-V: NVX) (the "Company") is pleased to report drill results from its completed follow-up 23-hole 2,560 meter reverse circulation drill program (announced July 26, 2011) on its 100 percent owned (subject to a 1 percent NSR) Afgan-Kobeh Gold Project located in Eureka County, Nevada.  Highlights from this program include hole 11-22, which returned 4.049 g Au/t over 16.8 meters (0.118 oz Au/ton over 55 feet), including 6.735 g Au/t over 9.1 meters (0.197 oz Au/ton over 30 feet).  Drill hole 11-22 is located on the northeastern margin of the NI 43-101 compliant gold resource of 66,000 ounces of gold (3.21 million tons at 0.021 oz Au/ton) in indicated resources and 55,000 ounces (3.97 million tons at 0.014 oz Au/ton) in inferred resources, using a cut-off of 0.006 oz Au/ton, delineated at Afgan in the June 13, 2011 technical report of the Company.  Drill hole 11-22 indicates the resource remains open to expansion to the east.

"The intercept encountered in Hole 22 demonstrates that more closely spaced drilling has the potential to add additional tonnage of higher grades and could enhance the average grade of the known resource,” stated John Watson, President and C.E.O. NV Gold Corporation. "The drill results also confirm the continuity of low-grade mineralization at the margins of our inferred resource.”

The objective of the 2011 follow-up drill program included infill and step-out drilling at the Afgan resource area, as well as testing of new targets at Kobeh.  A total of 2,560 meters (8,400 feet) of drilling was completed and samples were submitted for assay to ALS Chemex in Elko, Nevada.  All analyses have now been received.  The Afgan drilling returned encouraging results, with confirmation of the outlying, lower-grade projections of mineralization along the margins of the resource, in addition to the very encouraging intercept in hole 11-22.  Ten holes were completed in the northern portion of the project, in the Roberts Gold lease area,  but did not intersect any significant mineralization.  Two holes were drilled in the Kobeh area, south of the Afgan mineral resource, and those holes encountered anomalous gold and warrant follow-up with future drilling.

The following table summarizes significant results from the 2011 drill program:


Hole

Intercept
(feet)

Length
(feet)

Grade
(g Au/t)

Grade
(oz Au/ton)

Area or Zone

11-11

20 - 40

20

0.182

0.005

Afgan

11-14

35 - 65

30

0.720

0.021

Afgan

11-15

90 - 105

15

0.491

0.014

Afgan

 

155 - 165

10

0.475

0.014

Afgan

11-16

45 - 70

25

0.195

0.006

Afgan

11-17

45 - 80

35

0.575

0.017

Afgan

11-20

255 - 295

40

0.269

0.008

Afgan

11-21

285 - 340

55

0.326

0.010

Afgan

11-22

120 - 180

55

4.049

0.118

Afgan

 

incl.

30

6.735

0.197

 

11-23

320 - 355

35

0.351

0.010

Afgan

A total of 9 of the 13 holes drilled in the Afgan area intersected potentially economic mineralization.  Hole number 11-22 intersected a thick zone of strong mineralization, which remains open to the east and may connect to a similar zone drilled in 2010.  Data derived from previous exploration, including maps and reports, combined with 3D computer modeling were used to design the drill program.

The Afgan-Kobeh project is a Carlin-Type Gold system consisting of two contiguous parcels of land totaling over 4,250 acres controlled by the Company.  Included in this land block is a group of 109 unpatented claims covering an area of approximately 2,180 acres owned 100 percent by the Company (the Afgan-Kobeh block), subject to a 1 percent NSR, and a group of 104 unpatented claims covering an area of approximately 2,080 acres leased by the Company (the Roberts Gold block), subject to a 3 percent NSR.

The project’s potential is enhanced by its location near the southeastern portion of an alignment of mineral deposits, referred to as the Battle Mountain-Eureka Gold trend (also known as the Cortez trend), at its intersection with the Northern Nevada Rift. The project is located between the Gold Bar deposit (previously mined by Atlas Minerals; now controlled by U.S. Gold) and the currently producing Archimedes (Ruby Hill) gold mine of Barrick Gold Corp. The Cortez Trend and the Carlin Gold Trend (to the northeast) are widely believed to reflect major crustal structures and account for a significant number of the sediment-hosted, disseminated gold deposits in the western United States.

Assays reported herein were conducted by ALS Chemex in Elko, Nevada using a fire assay with an AA finish, with results greater than 3 g Au/t (0.088 oz Au/ton) being re-analyzed by fire assay with a gravimetric finish.

Michael Gustin, CPG, of Mine Development Associates, is the company's qualified person on the Afgan Gold project.

NV Gold Corporation's objective is to create shareholder value by identifying, acquiring, exploring, and developing advanced-stage gold projects within the major gold producing areas of Nevada and in Europe.

 

On behalf of the Board of Directors,
(sgd.) "John E. Watson"
President and CEO


For further information, visit the Company’s website at www.nvgoldcorp.com or contact:
John E. Watson,
Phone: 303.674.9400
Email: jewats@aol.com

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Statements
This news release includes certain forward-looking statements or information.  All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the geological potential of the properties and other future plans and objectives of the Company are forward-looking statements that involve various risks and uncertainties.  These statements include statements of the potential to increase grade and tonnage of a resource, that mineralization has the potential to be economic and that zones of mineralization may connect.  Mineral resource estimates can also be considered forward looking statements.  There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.  Important factors that could cause actual results to differ materially from the Company's plans or expectations include an unexpected lack of continuity of mineralization, regulatory issues, market prices, availability of capital and financing, general economic, market or business conditions, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.