NV Gold Drill Results Demonstrate Prospective Gold System at its Slumber Gold Project in Nevada
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www.nvgoldcorp.com
NV Gold Drill Results Demonstrate Prospective Gold System at its
Slumber Gold Project in Nevada
October 28, 2019 - Vancouver, British Columbia – NV Gold Corporation (TSXV: NVX;
US: NVGLF) (“NV Gold” or the “Company”) is pleased to announce that four of seven
holes encountered gold mineralization at its recently completed initial 7 -hole, 1,091 m,
reverse circulation (“RC”) drill program at its 100% controlled Slumber Gold Project,
Nevada.
“Our initial drill program at Slumber has identified a promising gold system. This blind
target was identified by geophysics” commented Dr. Quinton Hennigh, Director of NV
Gold. “ Anomalous mineralization encountered over significant lengths in holes SL-02 and
SL-01, some 450 meters apart, suggests the presence of a large gold-bearing hydrothermal
system in the sub -surface. Its characteristics exhibit similarities to several other high -
grade mid-Miocene gold systems in the r egion. The Company plans further data review
and more refined geophysical interpretation, to target potential high-grade structures that
have given rise to the anomalous plume we have encountered in the recent drilling.”
Slumber Drilling Highlights:
• Noting the drill target is “blind,” or buried beneath a veneer of gravel, and initial
drilling was driven by geophysical modeling, encountering anomalous gold
mineralization in four of seven holes is considered very encouraging. Felsic
volcanic rocks, similar to those that host other notable deposits in the region host
mineralization encountered in the drilling.
• The most notable intercept is a 39.6 meter interval grading 0.34 gpt Au and 1.3 gpt
Ag beginning at 36.6 meters down hole including 22.8 meters grading 0.47 gpt Au
and 1.6 gpt Ag beginning at 53.4 meters down hole encountered in hole SL-02. At
the very top of hole SL-02, an interval of 27.4 meters grading 0.18 gpt Au and 2.6
gpt Ag was encountered. Mineralization remains open to the north, west, northeast
and at depth below hole SL-02.
• Hole SL-01, situated approximately 450 m northeast of hole SL -02, encountered
five mineralized intervals from surface to 167.7 m. Mineralization remains open in
all directions around hole SL-01.
• Silver-to-gold ratios are generally less than 5-to-1, which is a characteristic of other
mid-Miocene low -sulfidation epithermal gold systems across northern Nevada.
Many of these systems including Sleeper, Buckskin-National and Midas, are known
to host high -grade veins, so the results of this drill program are considered very
positive for our first attempt at a blind target.
• NV Gold believes these results demonstrate Slumber hosts a highly prospective
gold system that is potentially being fed by de eper structures within the area.
Therefore, further drilling is planned after data interpretation , modelling and
refinement or vectoring of drill targeting.
Mineralized intervals from NV Gold’s initial Slumber Drill Program:
Hole ID
From
(ft) To (ft)
From
(m) To (m)
Length (m)
** Au (gpt) Ag (gpt)
SL-01 0 5 0.0 1.5 1.5 0.21 <0.5
260 265 79.3 80.8 1.5 0.19 <0.5
275 285 83.9 86.9 3.0 0.17 1.3
355 360 108.3 109.8 1.5 0.24 <0.5
530 550 161.6 167.7 6.1 0.20 1.7
SL-02 0 90 0.0 27.4 27.4 0.18 2.6
120 250 36.6 76.2 39.6 0.34 1.3
includes 175 250 53.4 76.2 22.8 0.47 1.6
SL-03 hole lost in alluvium
SL-04 no significant values
SL-05 5 30 1.5 9.1 7.6 0.17 4.8
SL-06 0 30 0.0 9.1 9.1 0.22 1.7
SL-07 no significant values
Note: **True Width is not known at this time.
Holes SL-05 and SL-06 each encountered mineralization at their tops, and are believed to
be connected with nearby hole SL -02. Hole SL -07 encountered altered and silicified
volcanic rocks, but did not encounter appreciable Au. Nonetheless, it is viewed as being
proximal to the larger system indicated in hole SL -02. Hole SL-03 was lost in alluvium
and did not test its target.
Please refer to press releases dated July 18th, 2019, August 1st, 2019, August 13th, 2019 and
August 22nd, 2019 for additional technical, project and drill program information on the
Slumber Gold Project.
Noting s ample batches at ALS are run using 76 samples per batch, excluding internal
standards, blanks, and duplicates run by ALS, NV Gold inserted one additional standard
and one additional blank per each 76 -sample batch. All standards and blanks inserted by
NV Gold returned values coincident with expectations. Gold was assayed using fire assay
with an atomic -absorption finish (ALS Code Au -AA23), and silver was assayed using
standard atomic-absorption spectrometry (ALS Code Ag-AA61).
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.
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 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, (i) that the results suggest
the presence of a large gold -bearing hydrothermal system in the sub -surface with the potential for deeper,
high grade structures, (ii) that observations from holes SL-05, SL-06 and SL-07 suggest a connection to SL-
02, (iii) plans for further drilling at the Slumber Gold Project, and (iv) other future plans and objectives of
the Company, 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 e xpectations 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.