September 25th, 2019 - Vancouver, British Columbia – NV Gold Corporation (TSXV: NVX; US: NVGLF) (“NV Gold” or the “Company”) is pleased to announce that it recently completed an initial reverse circulation (“RC”) drill program at its 100% controlled Slumber Gold Project, Nevada. The program consisted of seven (7) drill holes totaling 1,091 meters (3,580 feet). Assays are now pending and expected to be received in October 2019.
Holes SL-02, SL-04, SL-05, SL-06 and SL-07 encountered notable zones of moderate to intense silicification. Quartz veining, locally accompanied by fine pyrite, was observed within some intervals of silicification. Holes were angled to test a prominent, NE-trending, silicified ridge. Alteration halos around zones of silicification include proximal white hydrothermal-clay alteration and distal green propylitic chlorite alteration, a characteristic of other low-sulfidation epithermal deposits in the region.
“Our technical team has observed encouraging robust zones of alteration in the first drill holes from Slumber,” commented Dr. Quinton Hennigh, Director of NV Gold Corp. “Alteration and silicification observed in these holes correlate well with our ground magnetic data collected earlier this season. Once we receive assays, we anticipate quickly identifying critical vectors to further explore for high-grade veins within this large, little explored, hydrothermal system.”
Please refer to press releases dated July 18th, 2019, August 1st, 2019, August 13th, 2019 and August 22nd, 2019 for additional technical, project and drill program information on the Slumber Gold Project.
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.
Quality Control and Quality Assurance
Exploration activities at the Slumber Gold project were conducted under the supervision of Dr. Marcus Johnston, VP Exploration for NV Gold. Samples have been submitted to ALS Chemex, Reno, Nevada, for analysis. The data verification procedures and QA/QC procedures for the program included inserting certified standards and blanks into the sample stream.
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
For further information, visit the Company’s website at www.nvgoldcorp.com or contact:
Peter A. Ball, President & COO
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, and other future plans and objectives of the Company including future drilling at the Slumber Gold Project, 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.