VANCOUVER, British Columbia, Feb. 13, 2018 (GLOBE NEWSWIRE) -- NV Gold Corporation (NVX.V) (NVGLF) (“NV Gold” or the “Company) is pleased to provide initial results from its 2017 drill program at its 100% controlled Across the Valley (“ATV”) Gold Project in Nevada. The ATV gold project encompasses approximately 13,000 acres of lode mining claims on Bureau of Land Management lands and fee ground leased from Oro Vaca Ranch and is situated approximately 10 km southeast of the large Twin Creeks (Newmont) and Turquoise Ridge (Barrick and Newmont) mines on the prolific Getchell trend. Mines of the Getchell trend have produced over 20 Moz gold from Carlin-type deposits hosted by Paleozoic sedimentary rocks, especially carbonate-bearing units of the lower plate of the Roberts Mountain thrust. NV Gold targeted the underexplored ATV area based on structural modeling that suggests faulted extensions of the Paleozoic sedimentary rocks hosting the Getchell trend might be buried under young alluvium and volcanic rocks in this area.    

Diamond core hole with an RC pre-collar were completed. Total RC drilling encompassed 4,217.7 m including the pre-collar and core drilling totaled 319.7 m. Holes were very widely spaced across the ATV property thus providing a good initial assessment of its prospectivity." data-reactid="12">Between August and December, 2017, thirteen vertical reverse circulation (“RC”) stratigraphic test holes and a single, vertical Diamond core hole with an RC pre-collar were completed. Total RC drilling encompassed 4,217.7 m including the pre-collar and core drilling totaled 319.7 m. Holes were very widely spaced across the ATV property thus providing a good initial assessment of its prospectivity.

Paleozoic sedimentary rocks were intersected at depths between 195.1 and 329.3 m in 11 drill holes, and three holes were lost in broken volcanic cover rocks before reaching targeted Paleozoic rocks. (Please see Table 1 for a summary of drill results and Figure 1 for a plan map of drill hole locations) Importantly, this first ever drill program in this area confirms that much of the underexplored ATV property is indeed underlain by prospective Paleozoic host rocks easily within reach of modern exploration drilling.

Siliciclastic sedimentary rocks belonging to the upper plate of the Roberts Mountain thrust were intercepted in all 11 holes that penetrated younger volcanic cover. Nine of these 11 holes encountered anomalous gold and/or Carlin-type pathfinder elements. Of particular note are holes ARC-4 and ARC-6 situated in the east and ARC-11 situated in the far west of the ATV project.

Diamond core drill this location to follow up on this highly anomalous result. Hole ARC-4C probed a further 233.7 m below ARC-4 to a depth of 533.1 m remaining in upper plate siliciclastic sedimentary rocks at the bottom. Although the gold result of ARC-4 (RC) was not reproduced, four geochemically anomalous zones were encountered lower in ARC-4C (Core) within the Upper Plate Paleozoic section." data-reactid="15">Hole ARC-4, drilled to 299.4 m, ended in 6.7 m grading 0.14 gpt Au. In late 2017, NV Gold decided to Diamond core drill this location to follow up on this highly anomalous result. Hole ARC-4C probed a further 233.7 m below ARC-4 to a depth of 533.1 m remaining in upper plate siliciclastic sedimentary rocks at the bottom. Although the gold result of ARC-4 (RC) was not reproduced, four geochemically anomalous zones were encountered lower in ARC-4C (Core) within the Upper Plate Paleozoic section.

Another RC hole, ARC-6, ended in what has been interpreted as decalcified silty limestone with enriched levels of elements including Ag, As, Hg, Mo, P, Sb, Se, V and Zn. Although this interval did not contain appreciable gold, its Carlin-type pathfinder anomalism and decalcified silty limestone nature make it stand out as a possible candidate for more favorable lower plate rocks beneath the Roberts Mountain thrust. Further testing is planned in the immediate future.

Hole ARC-11, situated 10 km south and along strike from Newmont’s large Twin Creeks deposit, encountered anomalous As, Hg and Sb upon intersecting upper plate siliciclastic sedimentary rocks at 253.0 m to the end of the hole at 323.2 m. The 70 m length of this anomalous interval and its clear Carlin-type pathfinder anomalism may reflect proximity to a mineralizing system, perhaps in underlying lower plate rocks. NV Gold thinks further exploration is warranted in this area.

Follow Up Drilling – February 2018

Diamond core tail to test for deeper, more prospective lower plate sedimentary rocks beginning immediately.  The hole will be numbered ARC 6-C.  In addition, NV Gold may later offset hole ARC-11 with a 300 m vertical RC hole approximately 700 m to south-southwest in an attempt to further evaluate strongly anomalous Carlin-type pathfinder geochemistry encountered in that hole. This RC hole may serve as a pre-collar for a deeper Diamond core tail if warranted." data-reactid="19">Recognizing the potential significance of the geochemically anomalous interval of decalcified silty limestone encountered at the end of hole ARC-6 (RC), NV Gold drilled and cased an additional 231 m RC precollar near this location in December. NV Gold plans to drill an approximately 200-300 m long Diamond core tail to test for deeper, more prospective lower plate sedimentary rocks beginning immediately.  The hole will be numbered ARC 6-C.  In addition, NV Gold may later offset hole ARC-11 with a 300 m vertical RC hole approximately 700 m to south-southwest in an attempt to further evaluate strongly anomalous Carlin-type pathfinder geochemistry encountered in that hole. This RC hole may serve as a pre-collar for a deeper Diamond core tail if warranted.