NV Gold Initiates First Stage Drilling Program at the Discovery Bay Project

NV Gold Initiates First Stage Drilling Program at the Discovery Bay Project

NV Gold Corporation (TSX-V:NVX)(OTCQB:NVGLF)(FRA:8NV) ("NV Gold" or the "Company") is pleased to announce that the Company has initiated a first-stage four- hole drilling program at the Discovery Bay Gold Project in Nevada

The Discovery Bay Project is located approximately 14 km southeast of the McCoy Cove gold deposits in Lander County, Nevada (see figure 1).

The Discovery Bay target is focused on an almost unexplored window of Triassic Osobb Mountain Quartzite and Cane Springs Limestone (host rocks at McCoy), along with additional underlying promising host lithologies. Most of the target is covered by thin layers of Tertiary volcanics (Basal Tuffs), Quaternary gravels and sediments with little outcrop. Historical drilling in 2018 did encounter a promising layer of sulfidized intrusive rocks in contact with decalcified and Au-anomalous silty limestones.

This initial program will consist of approximately 1500 - 1800 meters of reverse-circulation drilling in four holes. The Company expects the drilling to be completed in approximately six weeks.

Discovery Bay is in alignment with major multi-million-ounce gold districts, starting in the north with Turquoise Ridge and Phoenix, and in close proximity to the McCoy- Cove Mines. This mineralized NS structural trend is also referred to as the "Rabbit Suture Corridor". To have potentially mineralized McCoy-Cove host lithologies exposed at the surface, and mostly being covered by Tertiary volcanics and Quaternary gravels, makes this a prime target for a potential exciting discovery! NV Gold has conducted ground gravity and IP (Induced Polarization) surveys to capture the full extent of this narrow Triassic window (see figures 1 & 2). This first pass of drilling will be very wide-spaced (a kilometer plus!). It was designed to calibrate our geophysical models and to confirm the presence of host lithologies. NV Gold is aiming for a Carlin-type gold system and any type of intercepted alteration or gold mineralization can be considered a success and opens a path to a possible new discovery," stated Thomas Klein, VP Exploration, NV Gold.

John Watson, President, and CEO of NV Goldadded, "The Discovery Bay program is the latest step in our stated plan to investigate and drill multiple projects each year to advance our Nevada portfolio. Although Discovery Bay will be a somewhat modest initial program, our near-term project goal is the development of a three-dimensional model of this promising geologic setting.

On behalf of the Board of Directors,

John E. Watson
President & CEO

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 planned exploration activities, the size and timing for completion of the drill program and the potential for a Carlin-type gold system or another type of discovery at Discovery Bay 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 lack of continuity of mineralization, 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.

Figure 1: Project Location Map (To view the full sized image, please click here)

Figure 2: The Discovery Bay target with almost unexplored window of Triassic Osobb Mountain Quartzite and Cane Springs Limestone (host rocks at McCoy), and drill hole locations. (To view the full sized image, please click here)

Figure 3: Drill rig on site TOF-2. (To view the full sized image, please click here)

SOURCE:NV Gold Corporation



View source version on accesswire.com:
https://www.accesswire.com/696451/NV-Gold-Initiates-First-Stage-Drilling-Program-at-the-Discovery-Bay-Project

News Provided by ACCESSWIRE via QuoteMedia

NVX:CA
The Conversation (0)
NV Gold Announces Amended Triple T Property Lease Agreement

NV Gold Announces Amended Triple T Property Lease Agreement

NV Gold Corporation (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) ("NV Gold" or the "Company") announces that the Company has reached an agreement (the "Amendment") to amend the terms of the exploration and mining lease agreement dated June 21, 2021 between the Company's wholly-owned subsidiary, NV Gold Corporation (USA), Inc. ("NV Gold USA") and the owners of the Triple T property, pursuant to which the Company has the exclusive right to explore on and evaluate the Triple T Property in Pershing County, Nevada (the "Agreement"). Pursuant to the Amendment, the Company has agreed to issue an aggregate of 100,000 common shares of the Company (the "Payment Shares") at a price of C$0.30 per Payment Share to settle an annual payment of US$30,000 payable by NV Gold USA under the Agreement

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
NV Gold Corporation Reports Strong Surface Samples, 5440 g/t Ag and 1.26% Cu, and 14.4 g/t Au at Root Spring Project in Nevada

NV Gold Corporation Reports Strong Surface Samples, 5440 g/t Ag and 1.26% Cu, and 14.4 g/t Au at Root Spring Project in Nevada

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."

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
NV Gold Announces Secured Loan Terms

NV Gold Announces Secured Loan Terms

NV Gold Corporation (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) ("NV Gold" or the "Company") announces that that it has entered into (i) a secured loan agreement with John Watson (the "Lender") pursuant to which the Lender provided a loan to the Company in the principal amount of US$50,000 (the "Secured Loan") and (ii) a share pledge agreement with the Lender, which secures an aggregate principal amount of US$400,000 in loans provided to the Company by the Lender to date, as described herein

The Company previously entered into loan agreements with the Lender on June 26, 2023, July 10, 2023, September 18, 2023 and January 22, 2024, pursuant to which the Lender provided the Company with loans in the aggregate principal amount of US$350,000 (the "Prior Loans" and together with the Secured Loan, the "Loans").

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
NV Gold Announces Effective Date of Share Consolidation

NV Gold Announces Effective Date of Share Consolidation

NV Gold Corporation (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) ("NV Gold" or the "Company") announces that, further to the Company's press release on February 13, 2024, it is proceeding with a consolidation of the issued and outstanding common shares of the Company (the "Shares") on the basis of (1) post-consolidated Share for every ten (10) pre-consolidated Shares (the "Consolidation"). No fractional shares will be issued as any fractional share will be rounded to the nearest whole number. The new CUSIP number will be 67090W307 and the new ISIN number will be CA67090W3075. The Company's name and stock symbol will remain unchanged following the Consolidation

The Consolidation will be effective at the opening of markets on February 28, 2024. As a result of the Consolidation, the 88,745,454 Shares which are currently issued and outstanding will be reduced to approximately 8,874,545 Shares, subject to rounding. The Consolidation is subject to final confirmation by the TSX Venture Exchange.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
NV Gold To Consolidate Common Shares

NV Gold To Consolidate Common Shares

NV Gold Corporation (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) ("NV Gold" or the "Company") announces that it intends to consolidate of all of the issued and outstanding common shares of the Company (the "Shares") on the basis of one (1) post-consolidated Share for every ten (10) pre-consolidated Shares held (the "Consolidation"), subject to approval of the TSX Venture Exchange (the "Exchange

The effective date of the Consolidation will be announced in a separate news release once the Company receives approval from the Exchange. As a result of the Consolidation, it is expected that the 88,745,454 Shares which are currently issued and outstanding will be reduced to approximately 8,874,545 Shares, subject to rounding. No fractional Shares will be issued as a result of the Consolidation. Any fractional share interest of 0.5 or higher arising from the Consolidation will be rounded up to one whole Share, and any fractional share interest of less than 0.5 will be cancelled. The Company's name and stock symbols will remain unchanged following the Consolidation.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Stock charts overlayed with "Weekly Editor's Picks" text.

Editor's Picks: Gold Faces Bumpy Week on Trade Tensions, Platinum Stages Breakout

The gold price saw peaks and troughs this week.

After rising to almost US$3,350 per ounce on Monday (May 26), the yellow metal took a dive, dropping just below the US$3,260 level on May 28 (Wednesday). It was back on the rise the next day, hitting US$3,324.

Trade tensions were in focus throughout the period.

Keep reading...Show less
Gold bars in stacks with words "5 Top Canadian Mining Stocks This Week" on top.

Top 5 Canadian Mining Stocks This Week: Adyton Sparkles with 97 Percent Gain

Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.

Statistics Canada reported on Friday (May 30) that real gross domestic product (GDP) gained 0.5 percent during the first quarter of 2025. Even on a per capita basis, real GDP posted a strong 0.4 percent increase.

The agency primarily attributed the rise to a 1.6 percent increase in exports during the quarter. The higher export amounts were led by a 16.7 percent growth in passenger vehicle exports and a 12 percent rise in industrial machinery, equipment and parts exports, both of which were driven higher in response to imposed and threatened tariffs from the United States.

Keep reading...Show less
Pacgold

Successful $5.6 million Placement for Exploration Program at Alice River Gold Project

Ǫueensland focused gold explorer, Pacgold Limited (ASX: PGO) (Pacgold or the Company) is pleased to announce it has received firm commitments for a $5.6 million two-tranche placement (Placement) via the issue of 93.3 million new fully paid ordinary shares in the Company (New Shares).

Keep reading...Show less
NevGold Announces Closing of Upsized C$6.0M Brokered Private Placement Financing

NevGold Announces Closing of Upsized C$6.0M Brokered Private Placement Financing

Nevgold Corp. (" NevGold " or the " Company ") (TSXV:NAU) (OTCQX:NAUFF) (Frankfurt:5E50 ) is pleased to announce that it has closed its previously-announced brokered private placement financing and concurrent non-brokered financing of units (the " Units ") for gross proceeds of $6,000,000 (the " Offering "). Each Unit, priced at $0.30 per Unit (the " Issue Price "), consists of one common share in the capital of the Company (each, a " Common Share ") and one-half of one Common Share purchase warrant (each whole warrant, a " Warrant "). Each Warrant entitles the holder to purchase one Common Share at an exercise price of $0.45 until May 29, 2027. Clarus Securities Inc. (the " Lead Agent "), was Lead Agent and sole bookrunner, on behalf of Research Capital Corp. and Moneta Securities Corp. (the " Agents ").

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Grande Portage Resources (TSXV:GPG)

Grande Portage Announces Important Developments for Direct Ore Shipping at the Proposed Cascade Point Marine Terminal Site near Juneau, Alaska

Grande Portage Resources Ltd. (TSXV:GPG)(OTCQB:GPTRF)(FSE:GPB) ("Grande Portage" or the "Company") is pleased to announce that the Alaska Department of Transportation & Public Facilities (DOT&PF) is advancing infrastructure development at Cascade Point, the site of the company's proposed ore shipping terminal as well as a proposed passenger ferry terminal.

The Cascade Point property is owned by Goldbelt Inc, an Alaska Native corporation based in Juneau. Goldbelt and Grande Portage have an existing Letter of Intent to cooperate on advancing a freight barge terminal facility at the site, which would be utilized for transportation of ore from the company's New Amalga Gold Project to a third-party processing facility. (See Grande Portage press release dated September 10, 2024)

Keep reading...Show less

Latest Press Releases

Related News

×