NV Gold Completes Sampling Program at its High Grade Root Spring Gold-Silver Project in Nevada
580 Hornby Street, Suite 588
Vancouver, British Columbia, V6C 3B6
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www.nvgoldcorp.com
NV Gold Completes Sampling Program at its High Grade
Root Spring Gold-Silver Project in Nevada
July 23, 2019 - Vancouver, British Columbia – NV Gold Corporation (TSXV: NVX;
US: NVGLF) (“NV Gold” or the “ Company”) announces completion of site visit and
sampling program at its 100% controlled Root Spring Gold -Silver Project in the East
Range, Pershing County, Nevada.
Geological observations and next steps:
• NV Gold ’s technical team recently concluded a mapping, sampling, and drill
targeting campaign to determine the varying geometry of the veins, and specific
structural controls on larger and/or higher-grade gold-silver concentrations at Root
Spring.
• The Root Spring vein system is exposed at surface for more than 1,200 m along
strike, and includes at least two spatially distinct vein sets.
• 39 rock-chip samples were collected and submitted for assay and multi -element
geochemical analyses.
• Results will be combined with structural data from recent mapping to develop a
three-dimensional image of known mineralization and highlight feeder zones.
• On completion of modelling, the Company will review a potential first round of
drilling.
“There were hundreds of small -scale mines operating in the Trinity, Humboldt, and East
Ranges when Nevada was granted statehood in 1864, but all public records were destroyed
in a fire in 1918 . Unless duplicates are in personal or surviving company files, the
information from these early operations was comp letely lost,” stated Dr. Marcus
Johnston, Vice President Exploration. “A small hill at the north end of Root Spring is
an example with such historic workings, where a series of collapsed shafts and declines
exploited an unknown amount of material. The older mines hauled nearly every bit of their
mined vein material to various mills in the region, leaving generally small, and locally
non-existent dumps. The underground workings near the north end of Root Spring mined
a shallow, 1 to 10 plus meter wide vein within a larger sheared envelope. Spacing between
declines, however, left enough surficial ore for a small slot cut later that historically
yielded 40 tons grading 14 ounces per ton silver.”
Recent Observations by Dr. Johnston from July Site Visit:
The veins and associated alteration and mineralization at Root Spring are essentially
identical to those observed directly in outcrop or drill -hole cuttings for deposits nearby at
Rochester/Packard, Lincoln Hill, and Spring Valley. These depos its are characterized by
milky quartz veins and veinlets in weakly to moderately metamorphosed rock, with Au
occurring with Ag as free grains of electrum, and Ag mostly occurring as a substitute for
Cu in tetrahedrite. Waste material comprises small grains of carbonate minerals, pyrite,
galena, chalcopyrite, and sphalerite, or their oxidized equivalents, and nearly ubiquitous
white quartz. Generally, the larger veins share common characteristics with veins on the
Mother Lode in California, USA, and the Abitibi belt, southeastern Canada, and should be
properly classified as “orogenic” for exploration considerations.
About Root Spring Gold Project
Root Spring comprises 54 lode claims on BLM ground, and is located 80 km south of the
city of Winnemucca, and 26 km east of the world-class open-pit Rochester silver-gold mine
operated by Coeur Mining. The project contains an Au-Ag vein system partly exposed at
the edge of a large alluvial-covered valley. Mineralization is hosted by metavolcanic rocks
that may be equivalent to parts of the Koipato Group, which were not previously identified
in the area, and consist of felsic and mafic units. The Koipato volcanics host the Rochester
silver-gold deposit as well as the Spring Valley gold deposit, 27 km northwest of Root
Spring.
The project contains gently dipping quartz veins and quartz-vein stockwork zones exposed
for at least 1.2 km along a northwest strike, with individual veins up to 10-meters
thick. Extensions of the veins along strike , as well as surrounding country rock , are
concealed by alluvial cover. Surface rock -chip values in veins reach 9.36 g/t gold,
accompanied by high silver reaching 1500 g/t. The veins are surrounded by widespread,
locally mineralized quartz-sericite-pyrite alteration.
A limit ed drilling program in 2012 intersected silver-gold mineralization down -dip of
exposed veins, but the holes were very shallow (68 m average length). Results included
12.1 m grading 14.02 g/t Ag and 0.16 g/t Au, 10.7 m grading 17.23 g/t Ag and 0.14 g/t Au,
and 9.4 m grading 16.47 g/t Ag and 0.53 g/t Au. Additionally, the drilling confirmed the
presence of a metavolcanic host section, and also intersected encouraging disseminated Au
within felsite far from the exposed veins.
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 Root Spring project
material to the Company at this time.
Quality Control and Quality Assurance
Sampling activities at the Root Spring Gold project were conducted under the supervision
of Dr. Marcus Johnston, VP Exploration for NV Gold. Samples were submitted to the ALS
Global – Geochemistry Analytical Lab in Reno Nevada.
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
Chairman
For further information, visit the Company’s website at www.nvgoldcorp.com or
contact:
Peter A. Ball, President & COO
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 E xchange) 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, and historical assay
information at the Root Spring Gold Project, geological interpretations of rock types and their similarity to
rock types at other mines and other future plans and objectives of the Company, including 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 Com pany'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.