NV Gold Highlights Exploration Potential of Frazier Dome Gold Project, Nevada
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Vancouver, B.C. Canada
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NV Gold Highlights Exploration Potential of
Frazier Dome Gold Project, Nevada
October 3, 2018 - Vancouver, British Columbia – NV Gold Corporation (TSX.V:
NVX; OTC Pink: NVGLF) (“ NV Gold ” or the “ Company”) highlights recent results
from its drill program at its 100% controlled Frazier Dome Gold Project, located in the
Tonopah Mining District, Nevada. The Augus t 2018 reverse-circulation (“RC”) drilling
tested four of nine targets identified on th e property, with two holes each, for a total
exploration program of 4,620 feet (1,408 m) in eight holes.
John Watson, Chairman and CEO of NV Gold commented, “We are pleased with our
initial exploration program on the Frazier Dome Gold Project, which yielded notable
runs of detectable gold acro ss altered and mineralized zones up to 150 meters in width.
Five of the eight widely-spaced holes delivered gold intersections greater than 0.10 g/t,
and up to 1.035 g/t, pointing to what we believ e could be a robust gold system at depth.
Noting epithermal veins are zoned vertically , the results provided the lateral focus
required to assist in targeting possible bonanz a or boiling zones within the system. The
Company is currently evaluating a potential deep er drill program at Fr azier to test this
concept, and also to accelerat e testing of the additional five known target zones on the
property.”
Geological Interpretation
All eight holes encounte red runs of altered and mineralized rock, with the most intense
alteration typically associated with local introduction of silica and pyrite in breccia zones.
Most of the altered rock is associated with anomalous gold +/- silver. Drilling identified
low concentrations of Au (typically 0.005 to 0.020 g/t), but of significance, nearly
continual runs of detectable Au were iden tified: approximately 105 m in FD-1, 150 m in
FD-2, and 135 m in FD-5. In addition, hole FD-8 intersected 0.53 g/t over 12.2 m (40 ft)
(from 13.7 m below surface) and hole FD-5 intersected 0.38 g/t over 7.62 m (25 ft)
(from 62.5 m below surface). Drilled widths ar e currently reported, and true widths are
not known at this time.
Given the exposed widths and lengths, wi th the estimated depths and calculated
volumes, the Company believes it is poss ible for a robust gold deposit to occur
deeper on the claim block.
The expected follow-up program should includ e a pre-drilling gravity survey, with or
without additional geophysics, to help identify additional vein zones, especially on the 80
percent of the property covered by post-minera l volcanic rocks and alluvium. Five of the
original nine targets permitted remain untes ted, and deeper holes should be planned for
the targets already tested. The geologic envi ronment at Frazier Dome remains favorable
to host a significant deposit.
About Frazier Dome Project
The Frazier Dome Project, staked by the Company, is located 13 km north of the
Tonopah Mining District, Nye County, Nevada . The Project contains a low- to
intermediate-sulfidation, volcanic-hosted epithermal gold system with high-grade
mineralization where:
Gold occurs in silicified breccias ad jacent to a Middle Miocene felsic dome
(Company surface samples up to 6.1 g/t Au over 3 m, with historical surface
samples grading up to 14.7 g/t Au);
High-grade gold also occurs in north-northwest-trend ing quartz veins (Company
surface samples grading up to 11.2 g/t Au) wi thin the volcanic rocks farther east
from the dome and along the contact be tween the volcanic rocks and underlying
pre-Cenozoic basement (historical drill hole with 7.5 g/t Au over 3 m at 58 m);
The Tonopah Mining District contains multiple styles of volcanic-hosted epithermal gold
mineralization similar to that at Frazier Dome, including:
1. High-grade, intermediate-sulfidation Ag-rich veins which historically produced 174
million ounces (Moz) Ag and 1.9 Moz gold; and
2. Younger, low-sulfidation, gol d-rich mineralization rela ted to intrusive rhyolite
domes, which has been the focus of modern exploration (e.g., Hasbrouck and
Eastside deposits).
Quality Control and Quality Assurance
Exploration activities at the Frazier Do me Gold project were conducted under the
supervision of Dr. Marcus Johnston, Explor ation Manager for NV Gold. Assays were
performed by ALS (Reno, Nevada and Vancouve r, BC, Canada). The data verification
procedures and QA/QC procedures for the pr ogram included inserting certified standards
and blanks into the sample stream.
Dr. Michael Gustin of Mine Development A ssociates, an independent Qualified Person
under NI 43-101, has reviewed and approved the technical information disclosed in this
release.
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
Chairman 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 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.
Caution Regarding Forward-Looking Statements – This news release contains certain forward-looking
statements or information, regarding the existence of a potential robust gold deposit at depth on the
property and the securing of future drilling permits and undertaking further drilling on the property. These
statements are based on certain assumptions regarding the geological formations encountered, continuity
of observed mineralization and the permitting process and are subject to a number of risks and
uncertainties. There can be no assurance that such statements will prove to be accurate and actual results
may differ materially from results contemplated by the forward-looking statements. Factors that could
cause actual results to differ materially from those in the forward-looking statements include not receiving
approval of a drilling permit and uncertainties associated with continuity of mi neralization, including
unsuccessful exploration results, the availability of funding for mineral explo ration and general economic
conditions. When relying on forward-looking statements to make decisions, investors and others should
carefully consider the foregoing factors and other uncertainties and should not place undue reliance on
such forward-looking statements. The Company does not undertake to update any forward-looking
statements, oral or written, made by itself or on its behalf.