NV Gold Highlights Portfolio of 15 Gold Projects, Geological Data Library in Nevada, and Identifies Properties for Option
580 Hornby Street, Suite 588
Vancouver, British Columbia, V6C 3B6
Tel: +1 888 363 9883
www.nvgoldcorp.com
NV Gold Highlights Portfolio of 15 Gold Projects, Geological Data
Library in Nevada, and Identifies Properties for Option
January 30, 2020 - Vancouver, British Columbia – NV Gold Corporation (TSXV: NVX;
US: NVGLF) (“NV Gold ” or the “ Company”) is pleased to review the Company’s
portfolio of 15 gold projects in Nevada, and its expansive data library comprised of over
40 years of geological information by U.S. Minerals Exploration (USMX – during 1970s
and 1980s) and AngloGold-Ashanti (“AngloGold” during 1990s and 2000s).
“In 2020, we will prioritize our exploration and drilling plans on our Slumber and
Sandy Gold Projects and continue to evaluate the Silver District Project. In addition,
a focused effort is underway to option projects from our strategic portfolio to maximize
the potential for a new precious metal discovery in 2020. NV Gold’s Team consists of
some of Nevada’s leading technical consultants in the industry , including Dr. Quinton
Hennigh, Dr. Odin Christ ensen and John Watson , M.Sc. , with collectively over 120
years of focused exploration experience directly in Nevada,” commented Peter A.
Ball, CEO of NV Gold . “There have never been better fundamentals , with gold at
$US1575 per ounce , and to be exploring in one of the best locations in the world -
Nevada. W ith a share structure of less than 47 million shares outstanding, strong
management ownership of approxi mately 20%, and low burn rate , o ur dollars are
focused in the ground, and we look for ward to an exciting 2020.”
The Data Library / Database
The data library consist s of two geological data bases, which covers Nevada, and
includes extensive proprietary exploration files created by AngloGold and USMX and
their predecessors . Multiple s ignificant regional geological, geochemical and
geophysical exploration programs generate d the data, over nearly 4 0 years of effort ,
and at a cost of over US$20 million. Our team continues to filter and locate interesting
prospects within the library.
The Nevada Gold Projects
The 15 projects NV Gold controls in Nevada include both sediment ary rock -hosted
and volcanic rock-hosted gold systems on important mineralized trends, including the
Carlin Trend, the Cortez Trend and the Walker Lane. Each of projects have yielded
significant results to date , and excluding the Slumber and Sandy Gold Projects, are
AVAILABLE FOR OPTION .
• Slumber (55 claims) is located within an intra -mountain valley in the Jackson
Mountains approximately 80 kms northwest of Winnemucca, Humboldt County,
Nevada, and approximately 35 kms west of Paramount Gold Nevada’s
(“Paramount”) Sleeper bonanza epitherma l gold deposit. The exploration target is
volcanic-rock-hosted epithermal gold and silver mineralization. Slumber is one of
several high-level epithermal gold systems on a north -south trend from the Jackson
Mountains, through the Bilk Creek Mountains, and continuing north into Oregon.
NV Gold identified significant alternation, silicification, and believes the drill results
from 2019 demonstrate a prospective gold system may exist at depth (refer to news
releases dated September 25 th and October 28 th, 2019 ). NV Gold anticipates
additional geophysics and drilling in the spring of 2020, upon completion of our
updated geological model.
• Sandy (20 claims) located in Lyon County, Nevada, USA, and close to the
historical Hercules Gold Mine, shows widespread alteration and mineralization
hosted by Tertiary volcanic rocks. Sandy exhibits alteration, mineralization, and
geochemical signatures consistent with other low -to-intermediate -sulfidation
deposits in the vicinity, including Como, Hercules, and the Comstock Lode.
Sandy was 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 w ere identified to be found in the altered zones and
in vein systems. The Company is currently examining the geological database,
and historical drill intercepts found in preliminary reports (refer to NV Gold’s
website for more information on drill results from Sandy), and reviewing a
potential drill program for 2020 .
• Baker (16 claims) is approximately 20 kms north of Newmont Goldcorp
Corporation ’s (Newmont”) new Long Canyon mine. The project is focused on
anomalous mercury and arsenic, along with local hydrothermal barite within
fault-controlled jasperoids at a range front. Peripheral stratiform jasperoid is
widespread. AVAILABLE FOR OPTION.
• Cooks Creek (51 claims) is a sediment ary rock -hosted gold system located 12
kms west of the world -class Pip eline deposits being mined by Barrick Gold
(“Barrick”) . In late 2016, two initial target areas were tested with nine ( 9)
reverse -circulation drill holes totaling 1,475 m and ranged from 67 m to 244 m
in length. Drilling tested a portion of the Dinner zone, where previous surface
sampling yielded up to 2.45 g/t Au in silicified hydrothermal breccias believed
to be localized along a northeast -trending fault with poor surface exposure. In
addition , a single hole tested the Lunch fault, which is approximately 1.2 kms
north of the Dinner zone, where historic drilling intersected 2.32 g/t Au over
21.3 m. The hole intersected 0.470 g/t Au over 4.6 m above (in the hanging wall
of) the fault, similar to previous holes. Cooks Creek is a large property that exhibits
widespread gold, and opportunities remain elsewhere on the property. The volcanic-
basement unconformity is intriguing, noting that it has yet to be determined if this
contact is a more significant control to mineralization than previously
recognized. The large alluvial basin adjacent to the mineralized zones conceals this
unconformity, and the target should be evaluated further (refer to press release
February 6, 2017) . AVAILABLE FOR OPTION.
• Frazier Dome (55 claims) is located 13 kms north of the Tonopah mining district.
The project contains a low -sulfidation, volcanic -hosted epithermal gold system
with high-grade mineralization in three settings. Gold occurs in silicified
breccias and veins adjacent to and likely genetically -related to a Middle Miocene
felsic dome ( NV Gold sample d up to 6.1 g/t Au, historic samples up to 14.7 g/t
Au). High -grade gold als o occurs in north -northwest -trending qu artz vein
stockworks (NV Gold sampled up to 11.2 g/t Au) within the volcanic rocks
farther from the dome and along the contact between the Tertiary volcanic rocks
and underlying pre -Cenozoic basement (historic drill hole with 7.5 g/t Au over
3 m at 58 m, including 10.39 g/t Au over 1.5 m)(refer to press release October 3,
2018). AVAILABLE FOR OPTION.
• Gold Cloud (13 claims) is along the southeastern portion of the Cortez Trend and
contains a 2 kms long zone of carbonate veins and silicification (jasperoid) with
values at surface up to 2.8 g/t Au. The mineralization occurs along a range -front
structure and could represent the upper-most or lateral edges of a larger gold
system yet to be explored at depth or under shallow pediment alluvial cover in
the adjacent valley. AVAILABLE FOR OPTION.
• Larus (19 c laims) is a Carlin -style gold system along the Cortez Trend, 3 kms
NW of the Mt. Hope Molybdenum project. Rock-chip geochemical samples have
yielded up to 3.2 g/t Au. Carbonates occur as a block above a low -angle
detachment fault, with upper -plate siliciclastic rocks and volcanics lying below
the fault. Gold locally occurs in the underlying siliciclastic rocks (to 2 g/t Au),
and N -NW trending faults with gold cut (post -date) the detachment, suggesting
a rooted gold system. Mineralization is known over a strike length of at least
1,200 m and a vertical range of at least 157 m. AVAILABLE FOR OPTION.
• Oasis (10 claims) is near the Goldfield district in western Nevada and co ntains a
porphyry -style copper -gold system with extensive low -grade gold mineralization
(2010-11 drilling yielded 96.1 m grading 0.26 g/t Au, 30.5m grading 0.4 g/t Au
and 169 m of 0.22 g/t Au). Drilling results also suggested increasing copper at
depth with the gold. The gold mineralization is currently exposed over an area
of approximately 1,000 m X 1,250 m and is potentially open at depth and to the
south. AVAILABLE FOR OPTION.
• Painted H ills (14 claims) is a low -sulfidation, mid -Miocene bonanza -style vein
target located 85 kms NW of the Paramount’s Sleeper D eposit, which is
geologically similar. An initial program, conducted in 2007 yielded extensive
low-grade gold mineralization beneath a barren opalite cap. Previous drilling
results point to a high -grade “boiling -zone” target below the levels tested in the
drilling, and potential also exists under the adjacent alluvial cover outboard of a
range-front fault. AVAILAB LE FOR OPTION.
• Queens (4 claims) and Long Island (27 claims) are 8-11 kms SE of Kinross
Gold’s (“Kinross”) Round Mountain Mine and are volcanic rock-hosted
epithermal systems similar in age to Round Mountain. Historic shallow (<150m)
drilling at Queens in the early 1990’s yielded 0.79 g/t Au over 23 m, 0.46 g/t Au
over 17 m and 0.53 g/t Au over 14 m. Rock chip sampling has been encouraging.
AVAILABLE FOR OPTION.
• Richmond Summit (18 claims) is approximately 11 kms NNW of Newmont’s
Gold Quarry mine. This Carlin -style, sediment ary rock -hosted gold target has
yielded surface samples as high as 7.75 g/t Au, with lower plate rocks exposed
within 300 m of the property and intersected in drilling. AVAILABLE FOR
OPTION.
• Root Spring (26 claims) is an epithermal gold -silver vein system in northwestern
Nevada, within sight of the world-class Rochester silver -gold mine . The gently -
dipping vein system , bounded by Tertiary volcanic rocks and Triassic
leucogranite , lies along a range front fault system and can be traced for 1.2 kms
with a width of 150 m, although alluvial cover obscures extensions. Rock-chip
values in veins reach 9.36 g/t Au and 1500 g/t Ag. Earlier drilling in 2012
intersected vein and disseminated Ag -Au mineralization down -dip of exposed
veins (e.g., 12.1 m grading 14 g/t Ag and 0.16 g/t Au), but drilling was very
shallow (68 m average length) and the system remains poorly explored. Surface
sampling results released in the Fall of 2019 yielded up to 8.02 g/t gold and 1,495
g/t silver (see news release date September 23, 2019). AVAILABLE FOR
OPTION.
• Seven Devils (54 claims) is a volcanic rock-hosted epithermal gold prospect
located along the “Western Nevada Rift” trend that includes Kinross’ Goldbanks,
Newmont’s Sandman and Paramount’s Sleeper deposits. The identified gold
system at Seven Devils is in excess of 1.8 kms long and contains surfac e rock -
chip values up to 3.47 g/t Au. Targets include both high -grade epithermal veins
and disseminated gold. AVAILABLE FOR OPTION.
• SW Pipe (84 claims) lies within the Cortez Gold Belt of north -central Nevada
and consists of unpatented mining claims staked in 2016 by NV Gold . The
project contains a sediment ary rock -hosted (Carlin -type) gold system 6 kms
southwest of the Pipeline Gold Mine, owned by Barric k, which contains
approximately 21 million ounces of gold (past production plus
reserves). Historic vertical drilling at SW Pipe, mostly between 1989 and 1997
and within 150 m of surface, intersected significant shallow gold mineralization,
including: 0.44 g/t Au over 17 m c ontaining 2.36 g/t Au over 1.5 m, 0.75 g/t
Au over 11 m containing 1.83 g/t Au over 3 m, and 0.60 g/t Au over 18 m
containing 1.35 g/t Au over 5 m. First-phase r ock-chip sampling by NV Gold
returned values up to 1.74 g/t Au with high arsenic and antimony, elements
enriched in productive Carlin -type gold deposits. AVAILABLE FOR OPTION.
Please refer to NV Gold’s website for more information, maps and detailed project
information.
Damir Cukor, P. Geo is a qualified person, as defined by National Instrument 43 -101,
and has approved the technical information in this news release.
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 and project advancement.
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 and Arizona, to prioritize key projects for focused exploration
programs. The Company currently has under 47 million shares outstanding, with close to
20% owned by NV Gold’s management team.
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:
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, the plans to complete the
Definitive Agreement to Acquire the Silver District Project, complete exploration or development of the and
other future plans and objectives of the Company, including exploration plans , confirming the historical
resource in accordance with the requirements of NI -43-101, are forward -looking sta tements 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 co uld 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 forward -looking statements whether
as a result of new i nformation, future events or otherwise except as otherwise required by applicable
securities legislation.