Vancouver, British Columbia – NV Gold Corporation (TSX-V: NVX) (“the Company”) announced today the final silver assays from its Blackjack discovery hole NVJ-001 at its Rattlesnake Hills Property in Wyoming. Silver assays were not available for inclusion in the Company’s August 29, 2014 news release.
Hole NVJ 001 intercepted significant silver values throughout its 152-meter (500 feet) length, averaging 12.9 g/T silver. The gold and silver values intercepted in Holes NVJ 001, 005 and 007 (previously reported and referred to hereafter as holes 1, 5 and 7, respectively) lie in an east-west geological structure, strongly suggesting a continuous mineralized zone. Hole 1 is the western-most hole along strike. Mineralization appears to be strengthening to the west (see Figure 1) in both grade and dimension (see Figures 2, 3 and 4).
Significant 2014 drill results are below, with updated results from the Blackjack Hole 1 highlighted:
|Area or Zone|
Notes: True widths of these intercepts cannot be determined with the information currently available. Au equivalent is calculated using a gold:silver ratio of 1:65.
• Silver values correlate well with gold values, adding approximately 35% to the total gold-equivalent grade in Hole 1;
• Results indicate that the Blackjack Zone is increasing in grade and intensity in an east to west direction. The strongest hole, Hole 1, which bottomed in mineralization and was on the western edge of the drilling, leaves the Blackjack target open to the west and north and at depth;
• Holes 5 and 7, drilled at -45 degrees, remain open above and below the reported intercepts as well as to the north and east.
John E. Watson, the Company’s President, said: “Blackjack is the first new discovery at Rattlesnake Hills since 2008. Previous operators focused their work on the two known areas of mineralization, North Stock and Antelope Basin, drilling 70,000+ meters in 190 holes into these targets. We think their work will support an NI 43-101-compliant resource estimate but the larger opportunity is to show that Rattlesnake Hills has the potential to be a district-scale project with multiple deposits, larger than North Stock and Antelope Basin. Our Blackjack discovery is the first step in proving this thesis.” Watson said.
“The next steps for the Company at Blackjack will be detailed surface mapping along the structural zone and close-spaced rock and soil geochemistry as well as ground geophysics to project the mineralized zone where it is obscured on surface,” Watson said. “We also plan to initiate the first NI 43-101-compliant resource estimate on the Rattlesnake Hills Property in the fourth quarter of this year.”
The Blackjack Discovery
The Blackjack area is an alkaline-related gold system set within a window of Tertiary volcanic breccias, ash and sediments (1,200 feet E-W by 700 feet N-S) exposed within Archean gneisses and granites. Multiple eruptive centers are present, with gold anomalies in both soil and rock sampling. Gold occurs both within the Tertiary and Precambrian rocks, offering an attractive target for a bulk minable resource. The target size is larger than the anomaly that led to the discovery of original North Stock deposit.
The geology, geochemistry and aerial dimensions bear many similarities to other alkalic gold districts, such as Cripple Creek, Porgera and Zortman-Landusky. The success of the 2014 drilling program, distal to the two known deposits, supports the project’s expanded exploration potential.
Exploration at Rattlesnake is still in its early stages.
Exploration activities at the Rattlesnake Hills Gold project were conducted under the supervision of Michael B. Ward, P.Geo., a contract geologist of NV Gold who is not independent but is a Qualified Person under NI 43-101. Mr. Ward has approved this news release. Assays reported were conducted by ALS Chemex (Reno, Nevada and Vancouver, BC, Canada) using fire assay with an AA finish and ICP. The data verification procedures and QA/QC procedures followed for the recent drilling program involved inserting certified standards and blanks into the sample stream. Rig duplicates have been collected.
NVX is a Vancouver-based company whose objective is to create shareholder value by acquiring, exploring, and developing gold projects located within the major gold producing areas of the western United States.
On behalf of the Board of Directors,
(sgd.) “John E. Watson”
Note: Holes 1, 2, 4 and 6 were drilled vertically and holes 3, 5, 7 and 8 were drilled in the directions and distances shown.
This news release includes certain forward-looking statements or information. All information other than statements of historical fact included in this release, including, without limitation, statements regarding future plans and objectives of the Company, is forward-looking information that involve various risks and uncertainties. In certain cases, forward-looking information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Statements regarding the continuity of mineralization and mineralization increasing in grade and dimension to the west in the Blackjack zone, the Rattlesnake Hills property having greater exploration potential, including the potential to be a district-scale project with multiple deposits larger than North Stock and Antelope Basin, the previous work supporting completion of a resource estimate, the Blackjack target being an attractive target for a bulk minable resource and planned exploration are considered forward-looking information. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. 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 availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals, risks inherent in the mineral exploration and production industry, and other risks detailed from time to time in the filings made by the Company with securities regulators. The Company expressly disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Please direct information requests to John E. Watson at 303-674-9400 or via email to email@example.com
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