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NV Gold Corporation (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) ("NV Gold" or the "Company") is pleased to report promising gold, silver, and copper values from rock chip sampling at its 100%-owned Root Spring Gold Project in Pershing County, Nevada. Two new samples with up to 14.4 gt gold (0.463 ounces per ton (opt)) accompanied by high silver values reaching 5440 gt (175 opt) and 1.26% copper These samples eclipse the historical high-grade samples and the Company plans to reevaluate the Property for a potentially larger and higher-grade target
John Watson, Interim CEO commented, "These recent encouraging samples were collected in one of the limited bedrock exposures on the property. They clearly support the strength of a strong precious metals system and encourage additional exploration of the property. The Company is evaluating the possibility of a genetic link to our nearby Triple T project."
About the Root Spring Gold Property
The project is situated 28 kilometers east of the Rochester silver-gold operation and 21 kilometers east of NV Gold's Triple T gold project (see Figure 1, 2 & 3).
The Property consists of 26 mining lode claims (520 acres). The property was acquired from Redstar Gold in 2016 as part of a larger transaction.
The project contains an epithermal/mesothermal silver-gold quartz vein system exposed at the edge of a large alluvial-covered valley. Mineralization is hosted in the Triassic Koipato volcanics. The Koipato hosts the Rochester Ag-Au deposit as well as the Spring Valley gold deposit 27 km west of Root Spring.
The quartz vein system is exposed for at least 1.2 km along a northwest strike, with individual veins to 5m thick. Extensions of the veins along strike as well as surrounding country rock are concealed by alluvial cover within a northwest-trending alluvial-filled valley corridor along a range front. Like the Rochester deposit to the west, the Root Spring Au-Ag system is adjacent to a Triassic granitic pluton.
Historical surface rock-chip gold values in veins reached 9.36 g/t gold (0.273 opt) accompanied by high silver reaching 1500 g/t (44 opt). The veins are surrounded by widespread, locally mineralized quartz-sericite-pyrite alteration of the host felsic volcanic sequence recognized from earlier shallow drilling.
The project exploration approach is in keeping with the Company's vision of discovery potential beneath Great Basin gravel cover.
A limited first-phase drilling program in 2012, consisting of eighteen core holes totaling 1,232.31 m, intersected Au-Ag mineralization down-dip of exposed veins, however, drilling was very shallow (68 m average length
Results included 11.9 m grading 13.8 g/t Ag and 0.17 g/t Au, 10.7 m grading 17.23 g/t Ag and 0.14 g/t Au and 9.3 m grading 16.47 g/t Ag and 0.53 g/t Au (see Figure 2).
Thomas Klein, VP Exploration stated, "I am excited about recent gold, silver, and copper results from our Root Spring project. It is encouraging to have verified historical high-grade values on the Property, which is an indication of a potentially strong and large mineralizing system below the thin alluvial cover. NV Gold is planning to further evaluate the Property and surrounding area to test and identify a possible genetic link with other gold-silver occurrences within the region, including Triple T and Rochester. Ongoing work programs will include re-mapping and more detailed rock chip sampling of the Property."
About NV Gold Corporation
NV Gold owns 100% interest in 21 mineral exploration projects in Nevada, USA, comprising 639 mining claims totaling 53.4 square kilometers (20.6 square miles). The Company is based in Vancouver, British Columbia, and is focused on delivering value through mineral discoveries in Nevada. Leveraging its expansive property portfolio, its highly experienced in-house technical team, its extensive geological data library, and the recent increase in the price of gold, 2024 is expected to be highly productive for NV Gold.
On behalf of the Board of Directors,
John Watson, President, Chairman, CEO and Director
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 Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Figure 1. Location of the Root Spring project with respect to other gold and silver deposits of the region.
Figure 2. Historical sampling and drilling at Root Spring and location of recent high-grade samples (left side is gold in g/t,and right side is silver in g/t).
Figure 3. Outline of potential target areas for covered silver-gold mineralization along the Rochester-Triple T-Root Spring corridor.
SOURCE: NV Gold Corporation
View the original press release on accesswire.com
