Nv GOLD Provides Exploration Progress Update ON High-Grade Exodus GOLD Project
580 Hornby Street, Suite 588
Vancouver, British Columbia, V6C 3B6
Tel: +1 888 363 9883
www.nvgoldcorp.com
NV GOLD PROVIDES EXPLORATION PROGRESS UPDATE ON
HIGH-GRADE EXODUS GOLD PROJECT
September 2 , 2020 - Vancouver, British Columbia – NV Gold Corporation (TSXV:
NVX; US: NVGLF) (“NV Gold” or the “Company”) is pleased to provide an update on
the ongoing exploration program at the optioned high-grade Exodus Gold Project, located
in the Cariboo Mining Division, 40 km NNW of Prince George, British Columbia.
Highlights of recent exploration activity at the Exodus Gold Project:
• A soil geochemistry program is now complete over an area of 2 km x 2 km , where
samples were taken across the central portion of the property (central zone) on a
100 x 50 meter grid, with an increased density within the immediate discovery area
to a 50x25 meter grid. All samples (817) are currently being analyzed for gold and
multi-element geochemistry. See below Figure 1.
• The Company currently has multiple geologists in the field, mapping and sampling
both the newly identified veins (from trenching), and newly established road
networks with identified mineralized outcrops. Assays for this work are pending.
• Our technical team at site has identified new outcrop exposures and vein systems
from mapping and trenching activity, and is also currently prospecting for new
outcrops across the favourable central zone.
• Positive d iscussions were held on August 28 th, 2020 with Lheidli T’enneh First
Nation with the goal of establishing a Mineral Exploration Agreement.
• An exploration drill permit has been submitted and is now in a review process.
Initial drill permit is designed for future drilling up to 5,000 meters, utilizing up to
15 drill pads within a 1km x 1km central area over the next two years.
• Interpretation of the geophysical survey data has defined a number of linear breaks,
which may represent key faults and/or structures that are important in controls on
mineralization. See below Figure 2 and Figure 3.
• The NVX-Exodus aeromagnetic survey data was integrated with the public QUEST
datasets to provide regional perspective to the geologic interpretation.
• Interpretation of the QUEST VTEM data has been used to define the depths to
bedrock across the property, which will be a useful tool as we continue to explore
the property for additional targets.
• As noted on July 29th, the land position was increased by 8.1% to 121.51 sq. km or
12,151 hectares.
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• A COVID-19 Operation Plan in place for safe, but active summer exploration
program.
• The 2020 exploration plan encompasses detailed mapping, trenching, soil sampling,
project wide geophysics, and structural modeling with the aim of developing a fall
diamond drilling campaign to test priority targets focused in the central zone.
Peter A. Ball, President & CEO commented , “The ongoing exploration program at
the Exodus Gold Project continues to exceed expectations in regards activity,
progress, and expansion of vein systems within the central zone . Our dedicated
exploration team at site, led by Project Manager Max Keogh, P. G eo, and guided by
our technical committee, continues to make excellent progress in identifying and
expanding the interpreted vein systems along strike. During July, we were able to
complete a 2 km x 2 km soil geochem istry grid over the central zone, with a ssays and
geochemical results pending . The combination of newly identified (previously hidden)
structures from the recent geophysical survey shows a strong correlation to previous
areas where high grade mineralization was sampled at surface . We are now foc used
on an expansive trenching program in the central zone, followed by mapping and
structural modelling of the multiple vein systems for a fall diamond drill campaign. In
addition , we will be completing a property wide reconnaissance exploration program
to assist in further understanding and interpretation of the local and regional
geological model in building additional targets , noting we are in an area with very
limited historical exploration. ”
Figure 1: Soil Geochemistry Program Plan Map
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Figure 2: Central Zone and Newly Identified Linear Breaks (Hidden Structures)
Figure 3: High Resolution Aeromagnetic Survey and Identified Major/Minor Structures
Note: Interpretation by Goldspot Discoveries Corp. – Brenda Sharp – Chief Geophysicist
About Exodus Gold Project
• Located approximately 40km north of Prince George, BC.
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• Since 2007, Geoscience BC has implemented the QUEST project, consisting of
regional geophysical and geochemical surveys that identified favourable potential
for gold mineralization on the Exodus Gold Project. This included a large-scale
15km long magnetic low thought to be associated with hydrothermal alteration.
• Structural interpretation of regional geology and geophysics has identified a
significant north-south trending structure break transecting centrally through the
property. This is inclusive of a possible interpreted deep -seated dilatational jog
entirely confined within the claim block.
• Gold occurs in zones of stockwork quartz veinlets and in quartz veins up to 1.5
meters wide. Widespread gold and associated arsenic and antimony
geochemical anomalism displayed by quartz vein and soil samples. Trenching
in 2019 (Trench 1) yielded 14 rock samples grading greater than 5.0 g/t Au,
including 9.01 g/t Au (35,600 ppm As, 609 ppm Sb), 13 .70 g/t Au (26,000 ppm
As, 295 ppm Sb) and 23.2 g/t Au (74,600 ppm As, 1,540 ppm Sb). Gold
mineralization occurs with arsenopyrite and antimony minerals, suggesting a
possible epizonal orogenic setting.
• The prospective mineralized corridor is interpreted to be approximately 5 km wide
and extend approximately 15 km along strike . This corridor is highlighted by a
regional trend of low magnetism in which new gold showings have been
discovered.
• Channel rock chip samples of high-grade gold quartz veins has been the initial
focus of exploration work at the Exodus Gold Project. Based on limited sampling,
significant mineralization is believed to occur within altered and deformed host
rocks surrounding these veins.
Qualified Person
The scientific and technical information contained in this news release as it relates to the
Exodus Gold Project has been reviewed and approved by Max Keogh, P.Geo, and a
“Qualified Person” as defined in National Instrument 43-101 – Standards of Disclosure for
Mineral Projects.
COVID-19 Response
During the Covid -19 pandemic , NV Gold is committed to advancing exploration in a
socially responsible manner, respecting good health and safety guidelines to protect its own
employees, consultants, and contractors as well as the citizens of the communities in which
it is working. NV Gold would like to thank all its stakeholders for their patience and
support.
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About NV Gold Corporation
NV Gold (TSXV: NVX, US:NVGLF) is a well-financed junior exploration company based
in Vancouver, British Columbia that is focused on delivering value through mineral
discoveries, l everaging its highly experienced in -house technical knowledge , and
identifying and drilling 2 -3 priority projects per year . NV Gold controls multiple drill -
ready projects in Nevada and has entered into a n Option Agreement on a high-grade gold
near-drill ready project in British Columbia, Canada.
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 includes certain forward -looking statements or information. All statements other
than statements of historical fact included in this release, including, without limitation, the completion
of a future drill program at the Exodus Gold Proje ct and the Company’s interpretations of exploration
data, 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
diffe r 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,
unexpected geological occurrences, market prices, availabilit y 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 d isclaims 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.