NV Gold Finalizing Exploration Plans for its Slumber and Sandy Gold Projects in Nevada
580 Hornby Street, Suite 588
Vancouver, British Columbia, V6C 3B6
Tel: +1 888 363 9883
www.nvgoldcorp.com
NV Gold Finalizing Exploration Plans for its Slumber
and Sandy Gold Projects in Nevada
June 12, 2020 - Vancouver, British Columbia – NV Gold Corporation (TSXV: NVX;
US: NVGLF) (“NV Gold” or the “ Company”) is pleased to announce, with the recent
completion of an oversubscribed private placement on May 26 th, 2020, the Company is
now finalizing its 2020 follow -up exploration plans for its Slumber Gold Project. In
addition, NV Gold is now expanding its review on its Sandy Gold Project (“Sandy”) in
Lyon County Nevada based on historical results at the project, but more specifically noting
recent results announced by Eclipse Gold Mining (TSXV:EGLD) (“Eclipse”) on June 10th,
2020 at its Hercules Gold Project . Sandy, acquired prior to the staking of the Hercules
claim block by Eclipse, is now strategically located completely within the Hercules claim
block.
About Slumber Gold Project
Based on positive results from the fall of 2019, NV Gold has engaged Zonge International,
of Reno, Nevada to complete a controlled source audio -magnetotelluric (“ CSAMT”)
geophysical survey at the Slumber Gold Project during the summer of 2020. Based on
results from the upcoming CSAMT survey during the summer of 2020 , a more defined
drill program will be developed to test for the feeder structures at depth commencing later
in the summer.
Gold mineralization encountered in 2019 over significant lengths in two holes (SL-02 and
SL-01), nearly 450 meters apart, suggests the presence of a large gold -bearing
hydrothermal system in the sub-surface. Based on proven success of the use of the CSAMT
technology at other epithermal projects, NV Gold believes this will help us vector in on
potential mineralized structures at depth.
“The initial drill program at Slumber in the fall of 2019 identified what we believe to be a
promising gold syste m, and we anticipate CSAMT targets will be tested by reverse
circulation drilling later in the summer of 2020,” commented Peter A. Ball, CEO of NV
Gold. “At our Sandy Gold Project, acquired for just staking costs in the fall of 2019, we
are now reviewing 2020 exploration plans noting both historical results from the 1990s
and recent positive drilling identified by Eclipse Gold Mining at its Hercules Gold Project
and announced on June 10th, 2020.”
About Sandy Gold Project
• Upon completion of geological review of Sandy, the Company would review a
review a potential exploration program consisting of geophysics and drilling.
• Comprised of a 20 claim block l ocated in Lyon County, Nevada, USA, and
acquired 100% for minimal staking costs in 2019 utilizing internal geological
database.
• Strategically now located completely within the Hercules Gold Project claim
block controlled by Eclipse Gold Mining (TSXV:EGLD) , noting t he Hercules
claim block around Sandy was staked subsequent to NV Gold. D rilling results
announced by Eclipse on June 10 th, 2020 was less than 3km west from the
Sandy claim group (Refer to Figure 1 ).
• Exhibits alteration, mineralization, and geochemical signatures consistent with
other low -to-intermediate -sulfidation deposits in the vicinity, including Como,
Hercules, and the Comstock Lode.
• Originally explored in 1993 -1994, which included geologic mapping, rock -chip
and soil sampling, and drilling. Seventeen (17) holes were drilled, where the
strongest values were identified to be found in the altered zones and in vein
systems. Refer to press release September 5, 2019 for additional information
on historical resu lts.
Figure 1: Sandy Gold Project Location:
• NV Gold notes that there is no guarantee that the historical results at
Sandy are representative and cannot guarantee that the Company will be
able to duplicate the results with future exploration programs. These
presented drill sample results are historical in nature and NV Gold has not
undertaken any independent investigation of the sampling nor has it
independently analyzed the results of the previous exploration work in order
to verify the results.
About CSAMT
CSAMT is a low -impact, ground geophysical survey method that involves determining
electrical resistivity of rocks. CSAMT data is desirable as it provides critical information
about geologic structure, and in the case of epithermal systems such as Slumber, identifying
areas of silicification that develop around the structural ‘plumbing’ of the hot spring, places
where mineralized veins might be found . CSAMT combined with audiomagnetotellurics
is useful for mapping resistivity to around the 1,000-meter depth range. The prospective
boiling zone, where high -grade mineralization can occur within an epithermal system, is
commonly at depths ranging from 300-500 m below paleo-surface.
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 i s a director of NV Gold and is not independent and is also the
President, Chairman and a Director of Novo Resources Corp.
The Company announces that it has granted incentive stock options to officers,
directors and consultants under its Stock Option Plan entitling them to purchase an
aggregate of up to 1, 350,000 common shares of the Company. The stock options are
exercisable on or before Ju ne 11, 202 5 at a price of $0.20 per share, subject to TSX
Venture Exchange acceptance. The option pricing represe nts an approximate 25%
premium to the Company’s closing share price on June 11, 2020.
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 wit h a portfolio of mineral properties in
Nevada, to prioritize key projects for focused exploration programs.
On behalf of the Board of Directors,
Peter A. Ball
President & CEO
For further information, visit the Company’s website at www.nvgoldcorp.com or
contact:
Peter A. Ball, President & C EO
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 i ncludes certain forward -looking statements or information. All statements other than
statements of historical fact included in this release, including, without limitation, and other future plans and
objectives of the Company including; (i) further exploration and the timing thereof at the Slumber or Sandy
Gold Project, (ii) that previous results suggest the presence of a large gold-bearing hydrothermal system in
the sub-surface, and (iii) that a CSAMT survey will help the Company vector in on potential mine ralized
structures at depth, 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 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 for ward-looking statements whether as a result of new information, future events or otherwise
except as otherwise required by applicable securities legislation.