VANCOUVER, British Columbia, March 02, 2018 (GLOBE NEWSWIRE) -- NV Gold Corporation (NVX.V) (NVGLF) (“NV Gold” or the “Company) is pleased to announce that it will be re-entering drill hole ARC-6C and extending it up to an additional 600 meters. As announced in its news release dated March 1, 2018, Diamond drill hole ARC-6C intercepted carbonate-bearing sedimentary rocks thought to belong to the lower plate of the Roberts Mountain thrust fault at its 100% controlled Across the Valley (“ATV”) Gold Project in north-central Nevada.
Recent close review of this intercept suggests it may indeed belong to the Comus Formation, an important ore-hosting unit in the region. Orebodies at the nearby Twin Creeks (Newmont) and Turquoise Ridge (Barrick and Newmont) mines are hosted by Comus Formation. After cutting approximately 120 m of this important rock unit, hole ARC-6C was terminated at 477.3 m.
NV Gold recently undertook a comparison of the relative position of the ARC-6C intercept with the more permissive parts of the Comus Formation that host orebodies at Twin Creeks. Based on this review, NV Gold thinks the intercept in hole ARC-6C is near the top of the Comus Formation and the hole should be deepened up to 600 m more to fully test the potential of this unit. Drilling is expected to begin shortly.
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 Twin Creeks and Turquoise Ridge mines on the 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 lower plate host rocks of the Getchell trend might be buried under young alluvium and volcanic rocks in this area.
NV Gold’s CEO, John Watson commented “We feel confident the rocks we have intercepted in hole ARC-6C are indeed Comus Formation and that we are near the top of that important ore-hosting unit. We think more prospective parts of the stratigraphy may lie in the 600 m of rock below the end of this hole. Therefore, we plan to extend ARC-6C up to 600 m further. This work should begin very soon and drilling should be completed over the next few weeks.”
Quality Control and Quality Assurance
NV Gold staff, under the supervision of Dr. Quinton Hennigh, a director of NV Gold oversaw drilling of hole ARC-6C. Core to 477.3 m has been submitted to ALS Global, Reno, Nevada (“ALS”) where it will be split, sampled and assayed. Results are expected in a few weeks.
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 is junior exploration company based in Vancouver, British Columbia that is focused on delivering value through mineral discoveries utilizing the prospector generator model. Leveraging its highly experienced in-house technical knowledge, NV Gold’s geological team intends to use its geological database, which contains a vast treasury of field knowledge spanning decades of research and exploration, combined with a portfolio of mineral properties in Nevada, to create opportunities for lease or joint venture. NV Gold plans to aggressively acquire additional land positions for the growth of its business.
On behalf of the Board of Directors,
John E. Watson
President and CEO
For further information, visit the Company’s website at www.nvgoldcorp.com or contact:
John E. Watson,
Phone: 303.674.9400
Email: john@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 intercepted carbonate-bearing sedimentary rocks belonging to the lower plate of the Roberts Mountain thrust fault and the Comus Formation, the intercept being near the top of the Comus Formation, the timing of receipt of assay results and the beginning of new drilling, the structural modeling suggesting that faulted extensions of lower plate host rocks of the Getchell trend might be buried under young alluvium and volcanic rocks in the area of the ATV Project, the potential to sell, lease or joint venture any of the Company’s properties, and other future plans and objectives of the Company, including exploration plans, 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 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.