Nv GOLD Identifies Drill Targets at the Oasis GOLD-Copper Project IN Nevada
750 West Pender Street, Suite 250
Vancouver, British Columbia, V6C 2T7
Tel: +1 303.668.7991
www.nvgoldcorp.com
NV GOLD IDENTIFIES DRILL TARGETS AT THE OASIS
GOLD-COPPER PROJECT IN NEVADA
VANCOUVER, BC, August 28,2024 - NV Gold Corporation (TSXV: NVX) (the
“Company”) is pleased to announce that a technical analysis has been completed
on NV Gold Corporation’s 100% owned Oasis gold and copper project. Located
in the Walker Lane structural and mineral belt of west central Nevada, about 30
miles to the west-southwest of Goldfield (>4m oz Au high sulfidation system), and
about 11 miles south of the Silver Peak gold and silv er district’s Nivloc mine, the
area is considered fertile for economic mineral concentrations.
The project has many of the characteristics of the zone near the top of a porphyry
system (Yerington, New Boston, Paradise Peak East) and zones near the
plumbing of a high sulfidation epithermal setting (Goldfield, the Graben deposit in
the Borealis Distri ct, some deposits in the Monte Cristo range). Abundant and
widespread strong argillic alteration, more localized potassic zones, sheeted
quartz veins, quartz-alunite ledges and multiple pulses of magma injection, along
with evidence of multiple overprinti ng periods confirm the style of system, and
general location of the system within the well -known porphyry to epithermal
continuum. The single age date from alteration, was dated at 16.1± 0.7 Ma
(Wolverson, 1987). This corresponds well with the age of mineralization at several
other Nevada gold deposits including Sleeper, and Midas.
Historic shallow drilling data is not available. Centerra Gold conducted a 2010 -
2011 program of 27 RC holes (23,920', 7,290.8m), that is the basis for this report.
There were 14 holes with intercepts of gold above 0.220 ppm, the cut -off grade
used to form gold intercepts. In addition, 6 holes contained intervals above 300
ppm copper., while there are several elevated Zn interval s, and one elevated Co
interval.
Based on drill holes with Au assay values available, there is not presently sufficient
drilling density to calculate an Inferred Resource. The data currently available does
750 West Pender Street, Suite 250
Vancouver, British Columbia, V6C 2T7
Tel: +1 303.668.7991 www.nvgoldcorp.com
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provide an exploration target that contains between 17 and 19 million tons, with
grades ranging from 0.25 to 0.42 5 g/t. The target has been developed on 2d
sections 100 meters apart, using the mean grade of each intercept, and a range
of +/- 25 percent. Density values used ranged from 2.25 g/cm3 to 2.55 g/cm3. This
exploration target contains 54 mineralized zones at least 3 meters downhole, in a
zone at least 1.2 km in an east west trend, and 0.5 km wide. There are no drill
holes along one of the sections, as well as several untested areas internal and
outboard mostly to the south and west.
Drilling the next phase would be designed to expand the scope of the known gold
zone and to increase the drill density of the previous drilling to advance the project
toward resource status.
"The Oasis project has demonstrated both gold and copper potential. The near-
surface gold zone (discussed above) is open in several dimensions and has
potential to become an economic deposit by itself or as part of a larger, multi -
metallic system that would encompass deeper copper mineralization. This project
has become increasingly important due to the recent copper market changes."
States John Watson, Chairman and Interim Chief Executive Officer.
https://nvgoldcorp.com/properties/nevada/under-evaluation/oasis-project/
Qualified Person: The technical information in this news release was compiled,
reviewed, and approved by Jesse D. Wellman, CPG, an American Institute of
Professional Geologists certified Professional Geologist, and is a Qualified Person
as defined in the NI 43 -101. Jesse D . Wellman, CPG is a consulting Economic
Geologist, and Qualified Person with over 20 years’ experience in precious metals
exploration, discovery, and development.
About NV Gold Corporation
NV Gold Corporation is a well -organized exploration company with 11,397,913
million shares issued and outstanding on a fully diluted basis . NV Gold has 21
exploration projects in Nevada comprising 639 100% -Company-owned lode
mining claims totaling 53.4 square kilometers (20.6 square miles) The Company is
based in Vancouver, British Columbia, and Reno, Nevada and is focused on
delivering value through mineral discoveries in Nevada, USA. Leveraging its
expansive property portfolio, its highly experienced in -house technical team, and
its extensive geological data library.
On behalf of the Board of Directors,
John Watson, Chairman and Interim CEO
For further information, visit the Company’s website at http://www.nvgoldcorp.com
or contact:
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Freeform Communications at 604.245.0054
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that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this news release.
This press release contains “forward -looking information” within the meaning of
applicable Canadian securities legislation and statements that are based on the
beliefs of management and reflect the Company’s current expectations. When
used in this press re lease, the words "estimate", "project", "belief", "anticipate",
"intend", "expect", "plan", "predict", "may" or "should" and the negative of these
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statements regarding discussions of future plans, estimates and forecasts and
statements as to management's expectations and intenti ons with respect to,
among other things: the potential quantity and grade of mineral resources identified
in the Exploration Target and the Company’s current expectations regarding future
exploration and development plans. Risks and uncertainties may cause actual
results to differ materially from those contemplated in those forward -looking
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