NV Gold Confirms Potential Extension of Gold Mineralization at Slumber Project
NV Gold Confirms Potential Extension of Gold Mineralization at
Slumber Project
November 30, 2021
VANCOUVER, BC / ACCESSWIRE / November 30, 2021 / NV Gold
Corporation (TSXV:NVX)(OTCQB:NVGLF) (Frankfurt:8NV) (“ NV Gold ” or the “ Company ”)
has confirmed the correlation of a “low -resistivity zone” with known alteration and possible
gold mineralization at its 100% controlled Slumber Gold Project (“Slumber”) located
approximately 50 miles northwest of Winnemucca, Humboldt County, Nevada, USA.
The Q4-2021 drill program at Slumber has currently completed five RC (reverse circulation) drill
holes totaling approximately 900 meters. The goal of this program is the confirmation of a
reinterpreted geological model and correlation of alteration and possible gold mineralization with
a low resistivity zone identified by last year’s CSAMT work (see press release September 7th,
2021). The initial holes appear to confirm this previously untested concept.
These initial holes have been visually encouraging, extending the zone of alteration by at least
500 meters to the north, while now demonstrating significant thickness as well (+150 m).
All holes into the resistor zone have encountered highly-brecciated, silicified, hematitic rocks
that remained in strong alteration at termination (see figure 1). Abundant groundwater has
continued to be a depth-limiting factor for the RC equipment; therefore, the Company will limit
the balance of this program to testing remaining shallower resistivity zones. Follow-up drilling
will be dependent upon core rig availability. Initial analytical results from this program are
expected to be received in mid to late January, depending upon laboratory constraints related to
COVID and staffing.
“I am very pleased with these preliminary drilling results. This drilling campaign was designed
to give Slumber an additional chance to move to a pre-discovery level. I am gratified to see
these intensely silicified and brecciated rocks supporting the reinterpretation of the geological
model. High grades would be a success, pointing towards a discovery. NV Gold will expand the
geophysical coverage and utilize core drilling equipment to test the extensive and thick piles of
mineralized silicified rock possibly containing high-grade sulfide feeders,” commented Thomas
Klein VP Exploration NV Gold.
After the completion of the Slumber drilling the RC rig will be mobilized to NV Gold’s next
encouraging project, Discovery Bay, located 50 kilometers south of Battle Mountain and 14
kilometers southeast of the McCoy-Cove property owned and currently under exploration by i-80
Gold Corp.
Figure 1: Intensely silicified and hematitic rhyolite breccia.
Near-Term Strategy and Outlook
The Company continues its focus on Nevada and the Great Basin, one of the largest and
most productive gold provinces in the world. On a regional-scale, Nevada is thought by
many to be a thoroughly explored gold province. Much of the near surface gold that has
been found over the past 40 years has already been mined or is being mined today. To find
significant new deposits, the successful explorer needs to employ modern, sensitive
sampling and interpretive techniques and a willingness to drill. The breadth of experience of
our staff and advisors gives us our advantage. Over 50% of Nevada is covered by recent
basin sediments or volcanic cover, which often obscures the classic, visible expressions of
mineralization. These covered areas are composed of the same rocks with the same
temporal placement as the gold deposits found in the nearby ranges. There is a strong
likelihood that other, similar-sized deposits await discovery! Significant discovery potential
continues to remain in one of the preeminent gold provinces on Earth. The Company has a
strong property position with over 20 projects, ranging from Greenfields to advanced "pre-
discovery". Our property portfolio covers a number of geologic environments and at varying
levels of advancement. Holding costs for most of these properties are minimal, particularly
those that are held as joint venture or lease-out possibilities.
It is our plan to drill 4-6 projects in the 12-18-month time horizon, providing a good news
flow and multiple opportunities for success. We look forward to a productive and successful
exploration season ahead.
About NV Gold Corporation
NV Gold (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) is a well-financed exploration company with
~80 million shares issued, a solid treasury and no debt. 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, 2021 and
2022 promise to be highly productive for NV Gold.
We seek safe harbor.
On behalf of the Board of Directors,
John E. Watson, President & 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 Service Provider (as that
term is defined in the policies of the TSX Venture Ex change) accepts responsibility
for the adequacy or accuracy of this release.
Forward Looking Statements
This news release includes certain forward- looking statements or information.
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, The
Company disclaims any intention or obligation to update or revise any forward -
looking statements whether because of new information, future events or
otherwise, except as otherwise required by applicable securities legislation.