August 1, 2019 - Vancouver, British Columbia – NV Gold Corporation (TSXV: NVX; US: NVGLF) (“NV Gold” or the “Company”) is pleased to announce that the Company will commence drilling at both the Slumber (“Slumber”) and Frazier Dome (“Frazier”) Gold Projects in August 2019. The total of both exploration programs is planned to be up to 1,600 meters of reverse circulation (“RC”) drilling, which may be extended at a later date, pending results.
“Our technical team has completed the evaluation and modelling of both the Slumber and Frazier Dome Gold Projects in preparation for our upcoming August drill campaigns. We are excited to test both projects, as each demonstrates compelling high-grade gold potential,” commented Peter A. Ball, NV Gold’s President. “In addition, we continue to extract new exploration projects from our geological databases, and are in current discussions with several possible partners for strategic alliances on other gold and silver projects in our portfolio.”
Slumber Gold Project Drill Program (up to 1,200 meters):
- At Slumber (mostly obscured by widespread alluvial cover), recent gravity and ground geophysical surveys helped identify a series of targets within a large hidden structural zone that is coincident with a magnetic-low, measuring approximately 2,000 m long by 300 m wide.
- The magnetic-low has an irregular outline that is believed to correspond to hydrothermal alteration and destruction of the magnetite originally present in the rock, and may encompass several upwelling feeders. Linear features in the magnetic-low are consistent with the structural fabric of the surrounding volcanic rocks.
- Geological modelling has identified multiple drill targets focused on structural intersections associated with magnetic-lows, to better understand the gold system geometry, and to test for zonal relations (alteration, geochemical, other) that may assist in vectoring in on bonanza-grade at depth.
Frazier Dome Gold Project Drill Program (up to 400 meters):
- At Frazier Dome, 80% of the property is covered by post-mineral volcanic rocks and alluvium.
- A follow-up deeper hole drill program is planned based on encouraging results from the Company’s’ 2018 program. The Company believes a robust gold deposit may occur deeper on the claim block after the presence of long runs of anomalous gold and silver were identified in 2018.
- The drill target for August is focused on expanding the volume of known gold mineralization, testing for potential zonal relations (including increasing gold with depth), and vectoring on bonanza-grade feeder zones.
Quinton Hennigh (Ph.D., P.Geo.) is a Qualified Person pursuant to National Instrument 43-101 and has reviewed and approved the technical information contained in this news release. Dr. Hennigh is a director of NV Gold and is not independent and is also the President, Chairman and a Director of Novo Resources Corp.
Please refer to press releases dated April 2nd, 2019 and July 18th, 2019 for additional information on the geological models for both the Frazier Dome and Slumber Gold Projects.
The Company has selected New Frontier Drilling LLC, of Fallon, Nevada to complete both drill programs.
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. Leveraging its highly experienced in-house technical knowledge, NV Gold’s geological team intends to utilize its geological databases, which contains a vast treasury of field knowledge spanning decades of research and exploration, combined with a portfolio of mineral properties in Nevada, to prioritize key projects for focused exploration programs.
On behalf of the Board of Directors,
John E. Watson
For further information, visit the Company’s website at www.nvgoldcorp.com or contact:
Peter A. Ball, President & COO
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 drilling and success of either of Slumber and Frazier Dome Gold Projects. 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.