NV Gold Completes Further Expanded Drill Program at its Sandy Gold Project in Nevada
580 Hornby Street, Suite 588
Vancouver, British Columbia, V6C 3B6
Tel: +1 888 363 9883
www.nvgoldcorp.com
NV Gold Completes Further Expanded Drill Program
at its Sandy Gold Project in Nevada
March 02, 2021 - NV Gold Corporation (TSXV:NVX)(OTCQB:NVGLF) (“NV Gold”
or the “ Company”) is pleased to announce that the Company has completed its
expanded reverse circulation (“RC”) drill program at its 100% owned Sandy Gold
Project (“Sandy”), located within the Walker Lane, Lyon County, Nevada, USA . The
expanded program was comprised of 17 RC drill holes totalling 3, 811 m (12,505 ft),
or an approximate 150% increase from the originally planned 1,500 m. All samples
have now been delivered to the assay laboratory and are awaiting assay.
"Since announcing the expansion of our RC drill program at Sandy, further holes continued
to yield intervals displaying intensely hydrothermally altered rock, quartz vein material
and considerable pyrite. Because of these positive indications, NV Gold elected to expand
its drill program by 150%," commented Peter A. Ball, CEO of NV Gold. “Drilling
provides an indication the newly discovered epithermal system has at least a 2.4-
kilometer strike -length. Recent h igh-grade gold from surface rock chip sampling
supports this observation. T he Company is now planning to compl ete a property -wide
induced polarization -resistivity (“IP”) survey to further evaluate this exciting system .
The IP -resistivity survey will help to identify and distinguish zones of high
chargeability , or sulphides, and resistivity to delineate silicificat ion. It will also
provide information regarding the depth to underlying shaly baseme nt.”
Review of the Expanded Drill Phase I Program at the Sandy Gold Project
As previously stated in the news release dated February 9 th, 2021, the Company believes
that drilling has encountered a large epithermal gold system defined by extensive argillic
to propylitic alteration with intervals of moderate to intense quartz and pyrite veining
(Figure 1). Some of the quartz vein intercepts from the current drill program have measured
up to 30 m (100 ft) wide. Quartz vein cuttings often display multi-phase brecciation, a sign
of boiling in the system, a good indicator for potential high-grade mineralization. Most of
NV Gold’s drill holes have far exceeded the depth of historical drilling conducted in 1993.
Based on the expanded drill program, the newly identified mineralized vein system
now has a strike length of at least 2.4-kilometer (1.5 miles) and is hosted by a thick
andesite volcanic package. Some of the underlying shaly basement rocks continued to
show visual evidence of veining and alteration . Most of the property remains undrilled,
and the system remains open at depth and in adjacent areas under late volcanic cover.
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Figure 1: Example of extensive quartz veining and pyrite
within Sandy Drill Hole SD-11.
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.
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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: [email protected]
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 belief that its drilling has encountered a large epithermal gold system on the Sandy property, 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 regulato ry
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 ne w information, future events or otherwise , except as otherwise
required by applicable securities legislation.