Precious Metals

NV Gold Corporation (TSXV:NVX)(OTCQB:NVGLF) ("NV Gold" or the "Company") is pleased to announce its upcoming Phase 3 drill program at its 100% controlled Slumber Gold Project ("Slumber"), located approximately 50 miles northwest of Winnemucca, Humboldt County, Nevada, USA

"NV Gold is excited to commence its 2021 exploration season at its Slumber Gold Project. The Phase 3 drill program will initially be focused on a recently discovered near surface oxide gold zone, where positive results including 18.3m grading 0.52 g/t Au in silicified rhyolite was intersected. Discovering a near surface mineralized gold system in Nevada in excess of 0.5 g/t Au and proximal to local mining operations, which are producing gold with a lower gold grade, is exciting,"commented Peter A. Ball, President and CEO of NV Gold. "We will complete a structural review of existing data to assist targeting the potentially higher grade deeper mineralized structures that fed this system, which we anticipate being able to conduct with a follow-up deep core drilling program later this year. NV Gold is fully financed with in excess of $4.5M in cash, $1.6M of warrants in the money, and no debt. It will be our busiest year in our corporate history, with multiple gold projects currently under review for acquisition and drilling. The Company is finalizing results and modelling from our Sandy Gold Project drill program, and anticipates also announcing a Phase 2 deep core hole drill program for 2021."

Phase 3 Slumber Gold Project Drill Program Highlights

  • The drill program will consist of approximately 8 reverse circulation ("RC") drill holes, totaling up to 1,500 m (~4,920 ft).
  • Each RC drill hole will target near surface oxide gold mineralization to determine extent of the interpreted 600m x 300m near surface zone, and to also test two additional parallel structures identified by recent stream sediment and rock chip sampling.
  • During Phase 2, the oxidized and silicified rhyolite mineralization intersected correlated well with the resistive blanket identified in a previously completed geophysical CSAMT survey.
  • With the project currently fully permitted, the drill program is expected to commence by July 2021, when the RC drill rig is mobilized to site.

Please refer to NV Gold's press release dated May 20th, 2021 for additional information on recent drilling at the Slumber Gold Project, including detail on the near surface oxide zone intersected and deep core hole targets identified.

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 (TSXV: NVX; OTCQB: NVGLF) is a well-financed exploration company with ~77 million shares issued, close to $4.5M in its treasury and no debt. The Company is based in Vancouver, British Columbia and is focused on delivering value through mineral discoveries in Nevada, USA, leveraging its highly experienced in-house technical knowledge. 2021 will be NV Gold's busiest exploration year in its corporate history.

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 & CEO
Phone: 1-888-363-9883
Email: peter@nvgoldcorp.com

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, statements regarding the Company's planned exploration activities, including the planned Phase 3 deep core hole program at the Slumber Gold Project, the Phase 2 deep core hole program at the Sandy Gold Project, the potential for a discovery at its properties, and acquisition of new gold projects 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, the extent to which mineralized structures extend on to the Company's Projects 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



View source version on accesswire.com:
https://www.accesswire.com/649847/NV-Gold-Announces-Commencement-of-2021-Exploration-Season-with-Its-Upcoming-Drill-Program-at-its-Slumber-Gold-Project

News Provided by ACCESSWIRE via QuoteMedia

NV Gold

NV Gold


Keep reading...Show less
Breaker Resources NL

Manna Drilling Delivers Positive Assays

First RC Assays Increases Confidence and Prospectivity at Depth as Diamond Drilling Commences at Manna

The Manna Lithium Project hosts a maiden Inferred Mineral Resource of 9.9Mt @ 1.14% Li2O (100% basis)1. After acquiring an 80% interest in Manna from Breaker Resources (ASX: BRB) in December 2021, GL1 engaged Snowden Optiro to undertake a Mineral Resource estimate using data compiled by Breaker Resources, including RC and DD results.

Keep reading...Show less
gold bars with stock chart

5 Top Weekly TSX Performers: Assay Results Send Xtra-Gold Higher

The S&P/TSX Composite Index (INDEXTSI:OSPTX) was trading at 19,030.09 early last Friday (June 24) morning. The index was on the rebound, and managed to close the week up at 19,061.98.

Looking over to the commodities sector, oil prices were on the rise by the end of the week, while gold and silver were on track for weekly declines.

"Our expectation is that prices do rise beyond September, October," Jeffrey Christian of CPM Group told the Investing News Network at this year’s Prospectors and Developers Association of Canada convention.

Keep reading...Show less
four stacks of gold coins superimposed over a city nightscape

5 Top Weekly TSXV Performers: Gold Explorers Find Support as Commodities Prices Fall

Major markets were on course for their first weekly gain in a month last Friday (June 24), while the S&P/TSX Venture Composite Index (INDEXTSI:JX) began to claw back losses seen late Thursday (June 23).

Dipping to a five day low of 623.48 overnight, Canada’s junior index moved to 637.83 after the morning bell. It ultimately closed the period slightly higher at 647.33.

Growing recession concerns were bolstered last week after reports that Canada’s inflation rate rose to a 39 year high of 7.7 percent in May. These fears are mounting below the border as well, and have been reflected in the plunging value of copper, a base and industrial metal heavily that is correlated to economic growth.

Keep reading...Show less
Challenger Exploration

Ongoing Drilling at Hualilan Solidifies Outlook for a Significant Uplift to Recently Reported Maiden MRE

Challenger Exploration (ASX: CEL) (“CEL” the “Company”) is pleased to announce results from recent drilling targeting extensions to the mineralisation at the Company's flagship Hualilan Gold Project, in San Juan Argentina. The results include the first drill holes that were not included in the Company’s recent maiden 2.1 million ounce AuEq1 Mineral Resource Estimate (MRE) which includes a high-grade core of 1.1 Moz at 5.6 g/t AuEq1 .

Keep reading...Show less
Top 10 Central Bank Gold Holdings (Updated 2022)

Top 10 Central Bank Gold Holdings (Updated 2022)

Global central bank gold reserves top 35,500 metric tons (MT), approximately one-fifth of all the gold ever mined. The vast majority of central bank gold holdings were acquired in the last decade, when national banks became net buyers of the yellow metal.

Central banks purchase gold for a number of reasons: to mitigate risk, to hedge against inflation and to promote economic stability. In its most recent annual survey released in June 2022, the World Gold Council (WGC) said that 61 percent of central bankers expect global gold reserves to increase over the next 12 months. Nearly three-quarters of respondents cited the precious metal’s “long-term store of value” as a guiding factor in gold purchases.

Central banks added 463 MT of gold to their vaults in 2021, signaling a significant turnaround in demand after the 255 MT decade low experienced in 2020.

Keep reading...Show less

Latest Press Releases

Related News

×