VANCOUVER, BC January 6, 2021 / NV Gold Corporation (TSXV:NVX)(OTCQB:NVGLF) ("NV Gold" or the "Company") is pleased to announce that the Phase 2 drill program is now complete at its 100% controlled Slumber Gold Project ("Slumber") located approximately 50 miles northwest of Winnemucca, Humboldt County, Nevada, USA. The drill program was comprised of 9 reverse circulation ("RC") drill holes, totalling 1,859 m (6,100 ft). Samples have been dispatched to the laboratory, and assays are pending. Based on extreme laboratory backlogs, results are not anticipated until at least late February.
The same drill rig has recently been mobilized and commenced drilling at the Company's 100% owned Sandy Gold Project ("Sandy"), located within the Walker Lane, Lyon County, Nevada, USA. NV Gold's first drill program at Sandy will encompass up to 1,500 m in up to 10 RC drill holes. For additional information on the Sandy Gold Project, please refer to NV Gold's press releases, dated September 14th, 2020, September 29th, and October 19th, 2020.
"As we await drill results from our recently completed drill program at Slumber, we are excited to commence drilling at the Sandy Gold Project and to test another high-grade epithermal gold target," commented Peter A. Ball, President and CEO of NV Gold. "NV Gold continues to maintain a strong treasury and a focused exploration strategy to explore its extensive property portfolio in Nevada."
High Level Notes of Slumber Gold Project Phase 2 Drill Program
Phase 2 drilling at Slumber has successfully expanded the footprint of epithermal alteration and quartz-veining in host rhyolite tuffs. Interpretation of RC chips indicates the presence of a mineralizing system with a strike length of approximately 1,000 meters and a width of 200 meters that is open in nearly all directions, and especially, at depth.
Due to unexpected high-volume of ground water return, some drill holes terminated short of planned depth leaving several primary CSAMT-interpreted targets partially tested or untested. NV Gold is targeting a potential "Sleeper-type" gold system at Slumber. NV Gold's technical team will evaluate incoming assays in upcoming weeks to assist in designing a Phase 3, 2021, drill program utilizing RC and diamond core to overcome groundwater issues. For additional information on the Slumber Gold Project, please refer to NV Gold's press releases, dated September 25th, October 27th, 2020, November 25th, 2020 and December 27th, 2020.
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.
About NV Gold Corporation
NV Gold (TSXV: NVX; OTCQB: NVGLF) is a well-financed junior exploration company based in Vancouver, British Columbia that is focused on delivering value through mineral discoveries in North America, leveraging its highly experienced in-house technical knowledge, and identifying and drilling 2-3 priority projects per year.
On behalf of the Board of Directors,
Peter A. Ball
President & CEO
For further information, visit the Company's website at www.nvgoldcorp.com or contact:
Peter A. Ball, President & CEO
Phone: 1-888-363-9883
Email: peter@nvgoldcorp.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 Company's planned exploration activities, the timing of undertaking its work and disclosure of results, 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
