NV Gold Completes Hole ARC-6C at ATV - Additional Drilling to Commence Shortly
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NV GOLD CORPORATION
Suite 588 – 580 Hornby Street
Vancouver, B.C. Canada V6C 3B6
April 5, 2018 Trading Symbol: NVX
NV Gold Completes Hole ARC-6C at ATV - Additional Drilling to
Commence Shortly
Vancouver, British Columbia – N
V Gold Corporation (TSX:V: NVX) (“NV Gold” or
the “Company) is pleased to announce diamond drill hole, ARC-6C , has recentl y been
completed to a depth of 859.5 m and is being logged, split and sampled at its 100%
controlled Across the Valley (“ATV”) Gold Project in north-central Nevada. Preparations
are being made to drill two additional holes to follow up on re cent significant lithologic
and geochemical discoveries on this previously unexplored property.
Hole ARC-6C Update
As reported by the Company in its news release dated March 1, 2 018, hole ARC-6C
intercepted a sequence of laminated muddy to s ilty carbonate-bearing rocks thought to
belong to the lower plate of the Roberts Mountain thrust fault. NV Gold decided to
extend this hole to provide a m ore thorough test of stratigraphy in this area (please refer
to its news release dated March 2, 2018 for further details). Z ones of decalcification,
silicification and fine sulfides were reported in an update abo ut the extension of ARC-6C
issued March 12, 2018.
Hole ARC-6C intercepted additional siliciclastic rocks, some ca lcareous, and short
intervals of igneous rocks, possi bly mafic lava flows of dikes, to the end of the hole at
859.5 m. Several additional zones of alteration similar to thos e reported on March 12,
2018, were encountered. Notable clay alteration was also presen t in short intervals
between 570-650 m. Logging of this core is expected to be comp lete in the next few
days. Receipt of assay results is expected to be approximately four to five weeks.
To gain a b etter understanding of the age of the stratigraphic sequence encountered in
hole ARC-6C, NV Gold collected 13 core samples for biostratigra phic age
determinations and has submitted these to the Indiana Geological & Water Survey,
Indiana University for fossil extraction and analysis. Results from this analysis are
expected back in late June, 2018.
NV Gold believes the laminated muddy to silty carbonate-bearing rocks encountered in
hole ARC-6C may belong to the Comus Formation, an important ore -hosting unit in the
region. Orebodies at the nearby Twin Creeks (Newmont) and Turqu oise Ridge (Barrick
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and Newmont) mines are hosted by Comus Formation. Biostratigrap hic work discussed
above should help confirm this.
Further Drilling
NV Gold plans to drill at least two additional holes to further evaluate recent lithologic
and geochemical discoveries at ATV. The first hole will be collared approximately 600 m
north of ARC-6C in an area where NV Gold believes the favorable carbonate-bearing
rocks encountered in ARC-6C may lie closer to surface. Like ARC-6C, this new hole will
be pre-collared by reverse circulation drilling through Tertiary volcanic cover. Paleozoic
sedimentary rocks lying beneath volcanic cover will be diamond core drilled to a depth of
up to 800 m, providing yet another thorough test of the targeted favorable rock unit.
A second hole will be drilled approximately 150 m southwest of rev erse circulation drill
hole ARC-11 situated in the west ern part of the ATV project are a and approximately 10
km south of Newmont’ s Twin Creeks mine. In a news release date d February 13, 2018,
the Company discussed strongly anomalous As, Hg and Sb geochemi stry encountered in
Paleozoic sedimentary rocks over a 70 m interval at the bottom of ARC-11. The new hole
will offset this geochemical discovery and also test a distinct gravity gradient in this area.
NV Gold thinks this gravity gradient may be associated with an important structural zone.
The new hole will also be pre-collared by reverse circu lation drilling and diamo nd core
drilled upon intersection of Paleozoic sedimentary rocks.
Completion of both holes discussed above is expected to take eight to ten weeks.
The ATV gold project encompasses approximately 13,000 acres of lode mining claims on
Bureau of Land Management lands and leased fee ground and is si tuated approximately
10 km southeast of the Twin Cree ks and Turquoise Ridge mines on the Getchell trend.
Mines of the Getchell trend have produced over 20 Moz gold from Carlin-type deposits
hosted by Paleozoic sedimentary rocks, especially carbonate-bea ring units of the lower
plate of the Roberts Mountain thrust. NV Gold targeted the underexplored ATV area
based on structural modeling that suggests faulted extensions of lower plate host rocks of
the Getchell trend might be buried under young alluvium and volcanic rocks in this area.
NV Gold’s CEO, John Watson commented “We are pleased to complet e diamond drill
hole ARC-6C, in what we consider the first complete view of tar get stratigraphy at ATV,
and eagerly await analytical results in a few weeks time. In th e meantime, we plan to use
some of the $1.4M in proceeds from our recently completed private placements to drill an
offset hole that further tests favorable rocks encountered in h ole ARC-6C as well as drill
an additional hole near RC hole ARC-11 that encountered strongl y anomalous Carlin-
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type pathfinder elements including As, Hg and Sb. ATV is an ar ea with no previous
exploration. Given its close proximity to several large Carlin- type deposits, we are
excited by results to date and look forward to evaluating the p roperty’s potential over the
coming months.”
Quality Control and Quality Assurance
NV Gold staff, under the supervision of Dr. Quinton Hennigh, a director of NV Gold
oversaw drilling of hole ARC-6C. After logging, all remaining c ore from ARC-6C will
be submitted to ALS Global, Reno, Nevada (“ALS”) where it will be split, sampled and
assayed. Results for the entire hole are expected in a 4-5 weeks.
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 indepe ndent and is also the
President, Chairman and a Director of Novo Resources Corp.
About NV Gold Corporation
NV
Gold is a junior exploration company based in Vancouver, Bri tish Columbia that is
focused on delivering value through mineral discoveries utilizi ng the prospector
generator model. Leveraging its highly experienced in-house tec hnical knowledge, NV
Gold’s geological team intends to use its geological database, which contains a vast
treasury of field knowledge spanning decades of research and exploration, combined with
a portfolio of mineral properties in Nevada, to create opportun ities for lease or joint
venture. NV Gold plans to aggressively acquire additional land positions for the growth
of its business.
On behalf of the Board of Directors,
John E. Watson
President and CEO
For further information, visit the Company’s website at www.nvgoldcorp.com or contact:
John E. W
atson,
Phone: 303.674.9400
Email: [email protected]
Neither the TSX Venture Exchange nor its Regu lation Service Provider (as that term is
defined in the policies of the TSX Ventur e E
xchange) accepts responsibility for the
adequacy or accuracy of this release.
Forward Looking Statements
This news release includes certa in forward-looking statements o r information. All statements other than
statements of historical fact inc luded in this release, includi ng, without limitation, statements regarding: (i)
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the sequence of laminated muddy to silty carbonate-bearing rock s intercepted in hole ARC-6C being
thought to belong to the lower plate of the Roberts Mountain th rust fault and maybe part of the Comus
formation; (ii) estimated timelines for completion of core logg ing, assaying, biostratigraphic age
determinations and drill holes; (iii) the first new hole to be drilled being in an area where NV Gold believes
the favorable carbonate-bearing rocks encountered in ARC-6C may lie closer to surface; (iv) the gravity
gradient through which the second new hole is to be drilled pos sibly being associated with an important
structural zone; (v) structural modeling suggesting that faulted extensions of lower plate host rocks of the
Getchell trend might be buried under young alluvium and volcani c rocks in the area of the ATV Project;
(vi) the potential to sell, lease or joint venture any of the C ompany’s properties, and other future plans and
objectives of the Company, inclu ding exploration plans, are for ward-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 fr om those anticipated in such statements.
Important factors that could cause actual results to differ mat erially from the Company's plans or
expectations include regulatory issues, market prices, availabi lity of capital and financing, general
economic, market or business c onditions, timeliness of government or regulatory approvals and other risks
detailed herein and from time to time in the filings made by th e Company with securities regulators. The
Company disclaims any intention or obligation to update or revi se any forward-looking statements whether
as a result of new information, future events or otherwise exce pt as otherwise required by applicable
securities legislation.