NV Gold Utilizes Internal Geological Database to Stake and Acquire Sandy Gold Project in Lyon County, Nevada
VANCOUVER, BC / ACCESSWIRE / September 5, 2019 / NV Gold Corporation (TSXV:NVX)(OTCPINK:NVGLF) (“NV Gold” or the “Company”) is pleased to announce that it acquired 100% control of the Sandy Gold Project, located in Lyon County, Nevada, by staking available ground over and around the gold project. The property was identified by reviewing the Company’s second purchased geological database, bought in 2018 from USMX, an exploration and development mining company which significantly explored Nevada during the 1970s and 1980s. Our first purchased database comprises the work done by AngloGold Ashanti in the Western United States from 1990s through to the mid-2000s, and also continues to provide new ideas and potential projects.
“The Sandy Gold Project is the first of numerous projects for staking that NV Gold’s technical team has identified using our extensive, 100%-owned database purchased from USMX,” commented Peter A. Ball, NV Gold’s President. “In addition, our drill program at the Slumber Gold Project continues, we are preparing for a drill program at the high-grade Root Spring Project for October, we anticipate assays from both Frazier Dome and Slumber in September / October, and we continue to discuss strategic partners for certain projects in our growing portfolio.”
Sandy Gold Project Review
The Sandy Gold Project (“Sandy”), located in Lyon County, Nevada, USA, shows widespread alteration and mineralization hosted by Tertiary volcanic rocks. Alteration mostly occurs as argillization of the host volcanic units, closely associated with iron oxides. Mineralization is most obviously expressed as several types of veins, including banded epithermal veins with chalcedonic to finely crystalline quartz, with varying amounts of calcite and adularia, and local barite. Coarse-grained calcite veins are also present.
“Sandy exhibits alteration, mineralization, and geochemical signatures consistent with other low-to-intermediate-sulfidation deposits in the vicinity, including Como, Hercules, and the Comstock Lode,” states Dr. Marcus Johnston, Vice President Exploration NV Gold. “Como was in gold and silver production from 1900-1940, Hercules includes a current gold resource, and the Comstock Lode highlights the potential of this area in the Walker Lane structural province, with historic production of 8.4 Moz Au and over 190 Moz Ag.”
Sandy was originally explored in 1993-1994, which included geologic mapping, rock-chip and soil sampling, and drilling. Rock-chip assay and geochemistry values of 1.5 ppm Au, 7937 ppm As, 240 ppm Sb, and 31 ppm Hg. Seventeen (17) holes were drilled, where the strongest values were identified to be found in the altered zones and in vein systems. The Company is currently reviewing the geological database, and historical drill intercepts found in preliminary reports are:
- Sandy-6: 0.84 g/t Au from 45.7m to 57.9m, 1.16 g/t Au from 106.7m to 115.8m, 0.53 g/t Au from 131.1m to 140.2;
- Sandy-7: 0.91 g/t Au from 48.8m to 54.9m; and
- Sandy-10: 0.44 g/t Au from 48.8m to 54.9m.
“These types of deposits are ideal for structural targeting, and we look forward to initiating our own mapping and sampling campaign this fall,” continues Dr. Johnston. “We are currently planning on building a better understanding of mineral deposits for the Sandy vicinity, and will look to assess additional information from our databases regarding the project and local area.”
NV Gold notes that there is no guarantee that the historical results are representative and cannot guarantee that the Company will be able to duplicate the results with future exploration programs. NV Gold’s management team does not view the Sandy project material to the Company at this time.
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 the interpretation of geological features, and other future plans and objectives of the Company, including the timing and execution of exploration plans, 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.
SOURCE: NV Gold Corporation
View source version on accesswire.com: