NV Gold Corporation (TSXV:NVX)(OTC PINK:NVGLF) ("NV Gold" or the "Company") is pleased to announce the finalization of the strategic data analysis (The Data Library Project) by GoldSpot Discoveries Corp. ("GoldSpot") (SPOT
NV Gold's Data Library consists of multiple data compilations, covering Nevada and elsewhere, including extensive proprietary exploration files created by AngloGold, USMX, Canyon Resources and others. Multiple significant regional geological, geochemical, and geophysical exploration programs generated this data, comprised of over 40 years of effort, and at a historical cost in excess of US$20 million.
Goldspot handled the legacy data inventory reviewing 241 file boxes and large numbers of rolled maps that were stored in NV Gold's warehouse in Reno, Nevada. A total of 1,186 individual files were scanned and the georeferenced maps were sorted by their designated county.
Data extracted from the scanned documents included:
- Rock samples;
- Soil (Stream) samples;
- Significant drill hole intercepts;
- Geological maps;
- Geochemical maps;
- Geophysical surveys;
- Interpretive maps; and
- Mineralized trends projected at surface.
One of the most effective data layers for gold targeting is the surface rock samples. GoldSpot evaluated areas peripheral to each anomalous rock sample noting its host, its exploration potential and generating ranked exploration targets. The targets were ranked on the published geology of the areas and on other proprietary criteria.
In total, GoldSpot identified 31 targets which were categorized and ranked, to be evaluated by NV Gold's technical team.
"I am excited about the outcome of this data analysis and the results presented by GoldSpot and their technical team. It has been our plan to get NV Gold's extensive geological databases into a digital format, homogenized and analyzed. The Company now has a cutting-edge advantage over other explorers in Nevada, and NV Gold will look forward to analyzing and potentially to adding new highly prospective properties with discovery potential to our Exploration Pipeline." commented Thomas Klein, VP Exploration of NV Gold.
About GoldSpot Discoveries Corp.
GoldSpot Discoveries Corp. (SPOT) is a technology and investment company that leverages machine learning to reduce capital risk while working to increase efficiency and success rates in resource exploration and investment. GoldSpot Discoveries combines proprietary technology with traditional domain expertise, offering a front-to-back service solution to its partners, and in some cases, capital to initiate exploration programs. GoldSpot's solutions target big data problems, making full use of historically unutilized data to better comprehend resource property potential.
John Watson, NV Gold's Chairman added, "Historical data can be of great value for many reasons. New geologic models continue to evolve and historical results can illuminate new concepts that can lead to new discoveries. Knowledge of previous work can save many man-hours and avoid duplication of field effort, thus making exploration expenditures more focused and efficient. SPOT's analysis should lead to efficient evaluation of priority areas and add promising new projects."
About NV Gold Corporation
NV Gold is a junior exploration company based in Vancouver, British Columbia that is focused on making significant gold discoveries in Nevada through focused exploration activities. The Company aims to quickly evaluate and advance mineral opportunities to drill-ready stage utilizing its widely recognized and experienced technical team and its extensive historical data.
On behalf of the Board of Directors,
Chief Executive Officer
For further information, visit the Company's website at www.nvgoldcorp.com or contact:
Freeform Communications at 604.245.0054
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 identification of new target areas and other planned exploration activities, 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 because 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: