Vancouver, British Columbia – NV Gold Corporation (TSX.V: NVX; OTC Pink: NVGLF) (“NV Gold” or the “Company”) is announcing its plans to carry out a reverse-circulation, rotary drill program on the Company’s 100% owned Frazier Dome gold project located in Nye County, Nevada. The 8-10 hole, 1,500 m drill program, estimated at a cost of $200,000 USD, is expected to commence in early August and should be completed by the end of September.
John Watson commented "Drilling will be focused on altered and mineralized fracture sets comprising multiple joints, faults, and veins. Two main fracture sets are recognized on the property, with widely spaced surface samples ranging upward to 6.1 g/t and 11.2 g/t Au (NV Gold samples) and 14.7 g/t Au (historic samples). Surface grades are corroborated by several shallow (<150-meter) drill holes with intervals up to 7.5 g/t Au over 3 meters.
The Frazier Dome property is located in the Walker Lane mineralized zone approximately 8 kilometers north of Tonopah in Nye County.
Exploration activities at the Frazier Dome Gold project are being conducted under the supervision of Dr. Marcus Johnston, P.Geo., Exploration Manager of NV Gold. Assays will be performed by ALS Chemex (Reno, Nevada and Vancouver, BC, Canada). The data verification procedures and QA/QC procedures for the program will include inserting certified standards and blanks into the sample stream. Rig duplicates will also be collected.
The Company also announces that it has entered into consulting agreements with each of Ben Kramer-Miller and Dr. Marcus Johnston to provide services to the Company as Manager, Corporate Development, and Manager, Exploration, respectively. In addition to receiving consulting fees, the Company has granted each of them a stock option to acquire up to 150,000 shares and has agreed to issue them share bonuses of 10,000 shares each, subject to approval of the TSX Venture Exchange.
About NV Gold Corporation
NV Gold is a junior exploration company based in Vancouver, British Columbia that is focused on delivering value through mineral discoveries utilizing the prospector generator model and through direct exploration activities. Leveraging its highly experienced in-house technical knowledge, NV Gold’s geological team intends to use its geological database, which contains a vast treasury of field knowledge spanning decades of research and exploration, combined with a portfolio of mineral properties in Nevada, to create opportunities for discovery, lease or joint venture. NV Gold plans to aggressively acquire additional land positions for the growth of its business.
On behalf of the Board of Directors,
John E. Watson
President and CEO
For further information, visit the Company’s website at www.nvgoldcorp.com or contact:
John E. Watson,
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 timing, extent of, and cost of its planned exploration program and the potential to sell, lease or joint venture any of the Company’s properties, and other future plans and objectives of the Company, are forward-looking statements that involve various risks and uncertainties. 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 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.