VANCOUVER, BC / ACCESSWIRE / September 23, 2019 / NV Gold Corporation (TSXV:NVX)(OTCPINK:NVGLF) ("NV Gold" or the "Company") is pleased to announce that it has expanded its land position around its high-grade Root Spring Gold-Silver Project by more than 50%. The Company is now finalizing permitting and planning for a drill program in October 2019. The property expansion was based on its summer exploration program where:
- 28% of rock-chip samples returned silver assays greater than 150 g/t, and up to 1,495 g/t.
- 41% of these samples returned greater than 0.5 g/t gold, and 23% of samples returned greater than 1 g/t gold, with up to 8.02 g/t gold.
- Positive base metal results ranged upwards to 0.51% copper, 0.68% lead, and 0.89% zinc.
- Detailed mapping, and geological review of historical information, both provided important information to vector on potential high-grade shoots within the vein system.
"We are pleased to be able to secure additional key claims around our high-grade Root Spring gold-silver project, where we are finalizing permitting for an upcoming drill program, which will be targeting multiple identified mineralized vein systems where high-grade gold and silver was recently sampled at surface," commented Peter A. Ball, President.
Corporate Update - other:
- Assays remain pending from our Frazier Dome and Slumber gold-silver projects, and results are expected in October 2019.
- The Company is currently in discussions with multiple parties on various projects within our property portfolio, for potential sale, JV or lease.
- Our technical team continues to evaluate new projects for accretive acquisitions.
- A number of gold-silver projects have been identified from our extensive geological databases, and are under review for potential staking or acquisition.
About Root Spring Gold Project
Root Spring comprises 54 lode claims on BLM ground, and is located 80 km south of the city of Winnemucca, and 26 km east of the world-class open-pit Rochester silver-gold mine operated by Coeur Mining. The project contains an Au-Ag vein system partly exposed at the edge of a large alluvial-covered valley. Mineralization is hosted by metavolcanic rocks that may be equivalent to parts of the Koipato Group, which host the Rochester silver-gold deposit as well as the Spring Valley gold deposit, 27 km northwest of Root Spring. Additional information on Root Spring is available in the July 23rd, 2019 and August 7th, 2019 press releases.
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 is a director of NV Gold and is not independent and is also the President, Chairman and a Director of Novo Resources Corp.
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 with a portfolio of mineral properties in Nevada, to prioritize key projects for focused exploration programs.
On behalf of the Board of Directors,
John E. Watson
Chairman
For further information, visit the Company's website at www.nvgoldcorp.com or contact:
Peter A. Ball, President & COO
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, plans to complete a drill program at Root Spring Gold Project, geological interpretations of rock types and their similarity to rock types at other mines and other future plans and objectives of the Company, including exploration plans, 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 forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
SOURCE: NV Gold Corporation