NV Gold Announces Exploration Target at its SW Pipe Gold Project of up to ~70,000 Near Surface Oxide Gold Ounces
NV Gold Announces Exploration Target at its SW Pipe Gold
Project of up to ~70,000 Near Surface Oxide Gold Ounces
VANCOUVER, BC / ACCESSWIRE / June 7, 2023 / NV Gold
Corporation (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) (“ NV Gold ” or the “ Company”) is
pleased to provide a n exploration update for the Company’s 100% -owned SW Pipe Gold
Project ( “SW Pipe” ) located in Lander County, approximately 6 km (3.7 miles) southwest
of the Pipeline Gold Mine in the central Cortez gold belt of north -central Nevada (see
Figure 1) . The environmental update has identified an estimated exploration target (the
“Exploration Target ”) of 35,000 - 70,000 oxide ounces of gold (see Table 1).
Table 1: Exploration Target potential grades and tonnages, with the potential
tonnage and grade using a maximum and minimum of 20% increase/decrease to
allow for uncertainty.
SW Pipe Exploration Target
Project Metric million Tonnage
Range
Au ppm
Range
Au Oz
Range
SW Pipe
Near Surface Oxide Gold 5-6 0.25-0.41 35k - 70k
Exploration Target Summary:
NV Gold’s SW Pipe project is about 6 km (3.7 miles) southwest of the Pipeline/Gold
Acres/Robertson Battle Mountain-Cortez Trend complex. The SW Pipe project has near
surface oxide gold mineralization hosted in sandstone, chert, shaly siltstone, greenstone, and
slate rock types. Past reports describe these rocks as presumed to be a part of the western
facies associated with the Roberts Mountain Thrust.
There have been at least 7 historical drilling programs, resulting in 49 reverse circulation drill
holes available for use in modeling. Based on drill holes with Au assay values available, there
is not presently sufficient drilling density to calculate an Inferred Resource. The data currently
available does provide an exploration target that contains between 5 and 6 million tons,
750 West Pender Street, Suite 250
Vancouver, British Columbia, V6C 2T7
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www.nvgoldcorp.com
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with grades ranging from 0.25 to 0.40 g/t. The target has been developed on 2d sections
70 meters apart, using the mean grade of each intercept, and a range of +/- 25 percent.
Density values ranged from 2.45 g/cm3 to 2.55 g/cm3, though at the nearby Battle Mountain
trend gold deposits, values mentioned can range from 1.27 g/cm3 to 3.45 g/cm3. This
exploration target contains 26 mineralized zones at least 3 meters downhole, in a zone at
least 1.3km in a northwest-southeast trend, and 0.6km wide.
Qualified Person: The technical information in this document was compiled, reviewed, and
approved by Jesse D. Wellman, CPG, an American Institute of Professional Geologists
certified Professional Geologist, and is a Qualified Person as defined in the NI 43-101. Jesse
D. Wellman, CPG is a consulting Economic Geologist, and Qualified Person with over 20
years’ experience in precious metals exploration, discovery, and development.
Thomas Klein, VP Exploration stated, “I am excited by the outcome of this new technical
update (“Exploration Target”) and the potential ounces modeled by Mr. Jesse D. Wellman.
NV Gold has successfully delineated a substantial near surface, oxide gold system at its SW
Pipe property in Lander County, Nevada. This area of gold mineralization can be interpreted
as possible "leakage" from a larger target at depth, emplaced through structural conduits.
Given the favorable setting proximal to several large gold deposits, the modest deposit is
further support for deeper exploration. “
Figure 1: SW Pipe Property Location.
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SW Pipe Exploration Update
On May 10, 2023, the Company commenced drilling its initial drill hole at SW Pipe. Due to
challenging ground conditions and in an effort to preserve capital, the Company has
terminated the existing hole and relocated the drill rig to its Triple T Gold Project (“Triple T”).
John Seaberg, NV Gold CEO stated “SW Pipe remains a high priority target for the
Company but the encountered ground conditions and expected depth of the drill holes
requires a larger budget to adequately test the target at depth. In an effort to allocate our
capital in a disciplined manner, we have elected to move the drill rig to the Triple T Gold
Project where the holes are shallower and much less expensive. As such, crews have been
mobilized to begin a ~1,000 – 1,500 meter RC Drill Campaign that will entail 10 – 15 drill
holes designed to exploit the properties near surface , high-grade oxide gold potential .
Triple T is 100% owned by NV Gold and is fully permitted ”.
The Triple T Project comprises of 41 claims and is located in the Humboldt Range 9
kilometers (5.6 miles) east of the Rochester silver -gold operation and 42 kilometers (26.1
miles) southeast of the Florida Canyon gold mine (see Figure 2).
Figure 2: Triple T Location
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About NV Gold Corporation
NV Gold Corporation is a well -organized exploration company with ~8 9 million shares issued
and no debt. NV Gold has 21 exploration projects in Nevada comprising 639 100%-Company-
owned lode mining claims totaling 53.4 square kilometers (20.6 square miles) The Company is
based in Vancouver, British Columbia, and Reno, Nevada and is focused on delivering value
through mineral discoveries in Nevada, USA. Leveraging its expansive property portfolio, its
highly experienced in-house technical team, and its extensive geological data library, 2023 is
expected to be highly productive for NV Gold.
On behalf of the Board of Directors,
John Seaberg, Director, and CEO
For further information, visit the Company’s website at www.nvgoldcorp.com or contact:
Freeform Communications at 604.245.0054
Neither the 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 news release.
This press release contains “forward-looking information ” within the meaning of applicable
Canadian securities legislation and statements that are based on the beliefs of management
and reflect the Company’s current expectations. When used in this press release, the words
"estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should"
and the negative of these words or such variations thereon or comparable terminology are
intended to identify forward -looking statements and information. Such statements and
information reflect the current view of the Company and include, without limitation, statements
regarding discussions of future plans, estimates and forecasts and statements as to
management's expectations and intentions with respect to, among other things: the potential
quantity and grade of mineral resources identified in the Exploration Target and the Company’s
current expectations regarding future exploration and development plans. Risks and
uncertainties may cause actual results to differ materially from those contemplated in those
forward-looking statements and in formation. By their nature, forward -looking statements
involve known and unknown risks, uncertainties and other factors which may cause our actual
results, performance or achievements, or other future events, to be materially different from
any future results, performance or achievements expressed or implied by such forward-looking
statements. The forward-looking information and forward-looking statements contained in this
press release are made as of the date of this press release, and the Company does not
undertake to update any forward -looking information or forward -looking statements that are
contained or referenced herein, except as may be required in accordance with applicable
securities laws. All subsequent written and oral forward -looking information and statements
attributable to the Company or persons acting on its behalf is expressly qualified in its entirety
by this notice regarding forward-looking information and statements.