NV Gold Continues Drilling Hole ARC-6C Deeper at its 100% Controlled ATV Gold Project and Announces Private Placement of up to CDN$390,000
NV GOLD CORPORATION
Suite 588 – 580 Hornby Street
Vancouver, B.C. Canada V6C 3B6
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March 12, 2018 Trading Symbol: NVX
NV Gold Continues Drilling Hole ARC-6C Deeper at its 100%
Controlled ATV Gold Project and Announces Private Placement of up
to CDN$390,000
Vancouver, British Columbia – NV Gold Corporation (TSX:V: NVX; OTCQX:
NVGLF) (“NV Gold” or the “Company) is pleased to announce that it has re-entered
diamond drill hole ARC-6C and anticipates ex tending it up to an additional 600 meters.
NV Gold also announces a private placement of units of the Company for gross proceeds
of up to CDN$390,000 (the “Placement”).
As announced in its news release da ted March 2, 2018, diamond drill hole ARC-6C
intercepted carbonate-bearing sedimentary rocks thought to belong to the Comus
Formation at its 100% controlled Across th e Valley (“ATV”) Gold Project in north-
central Nevada. Orebodies at the nearby Tw in Creeks (Newmont) and Turquoise Ridge
(Barrick and Newmont) mines are hos ted by Comus Formation. After cutting
approximately 120 m of this important rock unit, hole ARC-6C was terminated at 477.3
m. NV Gold drilling is inadequate to confir m with certainty the true width, however the
Company believes that the dip of the unit is at or near horiz ontal and, since the drilling is
vertical, the observed thickness should approximate true width.
Drilling has recently resumed and the hole ha s advanced approximately 120 meters to a
depth of 597 m. What are interpreted as d ecalcified muddy, silty and sandy rocks have
been encountered (Figures 1-3 below). Zones of silicification are also evident as are local
accumulations of very fine-grained sulfide mi nerals. NV Gold interprets such alteration
as evidence of hydrothermal activity.
The ATV gold project encompasses approximately 13,000 acres of lode mining claims on
Bureau of Land Management lands and fee gr ound leased from Oro Vaca Ranch and is
situated approximately 10 km southeast of the Twin Creeks 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-bearing
units of the lower plate of the Robert s 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 tr end might be buried under young alluvium and
volcanic rocks in this area.
NV Gold’s CEO, John Watson commented “We are glad to re-commence drilling hole
ARC-6C. Already, we are seeing indications of hydrothermal alteration. If this is indeed
Comus Formation, we should be able to ade quately test the enti re thickness of this
important host unit over the next 600 m of dril ling. Completion of the hole is anticipated
to take several weeks.”
The Placement is an offering of up to 1,300,00 0 units (the “Units”) at CDN$0.30 per
Unit. Each Unit consists of one Share a nd one-half of one Warrant exercisable at
CDN$0.45 per share for two years from issue of the Units. The expiry date of each
whole Warrant is subject to acceleration such that, should the volume weighted average
price of the common shares of the Company exceed CDN$0.90 for ten consecutive
trading days, the Company may notify the holde r in writing that the Warrants will expire
20 trading days from receipt of such noti ce unless exercised by the holder before such
date.
Closing of the Placement is conditional on acc eptance of the TSX Venture Exchange.
The proceeds of the Placement will be used by the Company for the acquisition and
advancement of new properties and existing properties of the Company and for general
working capital.
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. Core to 477.3 m has been submitted to ALS Global,
Reno, Nevada (“ALS”) where it will be split, sampled and assayed. Results are expected
in a few weeks.
Quinton Hennigh (Ph.D., P.Geo.) is a Qualifie d Person pursuant to National Instrument
43-101 and has reviewed and approved the tech nical information contained in this news
release. Dr. Hennigh is a direct or of NV Gold and is not independent and is also the
President, Chairman and a Director of Novo Resources Corp.
About NV Gold Corporation
NV Gold is a junior exploration company base d in Vancouver, British Columbia that is
focused on delivering value through mineral discoveries utilizing the prospector
generator model. Leveraging its highly e xperienced in-house technical 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 opportunities 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. Watson,
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 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
intercepted carbonate-bearing sedimentary rocks belonging to the Comus Formation and other
interpretations of the rock types it has encountered, the intended depth of the drill holes, the timing of
receipt of assay results, the structural modeling sugges ting that faulted extensions of lower plate host rocks
of the Getchell trend might be buried under young alluvium and volcanic rocks in the area of the ATV
Project, the proposed raising of up to CDN$390,000 and the proposed uses of such funds and its timing, the
potential to sell, lease or joint venture any of th e Company’s properties, a nd other future plans and
objectives of the Company, includ ing exploration plans, are forward- looking statements that involve
various risks and uncertainties. There can be no assura nce 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 pri ces, 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.
(Figure 1: Core from hole ARC-6A from approximately 1780-1790 feet [542.7-545.7 m].
Upper left is the beginning of the interval and the lower right is the bottom. Core
diameter is approximtely 7 cm. Crumbly, broken, decalcified muddy and silty
sedimentary rocks thought to belong to the prospective Comus Formation. White veinlets
are composed of late-stage calcite.)
(Figure 2: Photomicrograph of core from hole ARC-6A from a depth of approximately
550 m. This is interpreted to be decalcified silty limestone thought to belong to the
prospective Comus Formation. White veinlets are late stage calcite veins. Note very fine
disseminated pyrite, small points of yellowish white, scattered throughout.)
(Figure 3: Core from hole ARC-6A from approximately 1924-1932 feet [586.6-589.0 m].
Upper left is the beginning of the interval and the lower right is the bottom. Core
diameter is approximately 7 cm. Decalcified sandy and muddy sedimentary rocks thought
to belong to the prospective Comus Formation.)