VANCOUVER, BC / ACCESSWIRE / August 10, 2020 / NV Gold Corporation (TSXV:NVX)(OTC PINK:NVGLF) ("NV Gold" or the "Company") is pleased to announce that a controlled source audio-magnetotelluric ("CSAMT") geophysical survey will commence at the Slumber Gold Project in Nevada by August 13, 2020.
"NV Gold completed an initial drill program at the Slumber Gold Project in the fall of 2019, which identified what we believe to be a significant buried epithermal gold system," commented Peter A. Ball, President & CEO of NV Gold. "Based on proven success of the use of the CSAMT technology at other epithermal projects, our technical team consisting of Dr. Quinton Hennigh and Dr. Odin Christensen, believe the survey will help us vector in on potential mineralized structures at depth. Given the similar geology of Slumber to other epithermal systems in the area, we believe Slumber has the potential to host high-grade structures at depth, and we look forward to drill testing any CSAMT-generated targets this fall."
NV Gold has engaged Zonge International, of Reno, Nevada to execute the CSAMT geophysical program at the Slumber Gold Project. Based on results from the CSAMT survey, a more defined drill program may be developed to test for the potential feeder structures at depth commencing later in the fall of 2020.
CSAMT is a low-impact, ground geophysical survey method that involves determining electrical resistivity of rocks. CSAMT data is desirable as it provides critical information about geologic structure, and in the case of epithermal systems such as Slumber, identifying areas of silicification that develop around the structural ‘plumbing' of the hot spring, places where mineralized veins might be found. CSAMT is useful for mapping resistivity to around the 1,000-meter depth range. The prospective boiling zone, where high-grade mineralization can occur within an epithermal system, is commonly at depths ranging from 300-500 m below paleo-surface.
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 (TSXV: NVX)(OTC PINK:NVGLF) is a junior exploration company based in Vancouver, British Columbia that is focused on delivering value through mineral discoveries in North America, leveraging its highly experienced in-house technical knowledge, and identifying and drilling 2-3 priority projects per year. NV Gold controls multiple drill-ready projects in Nevada, and has entered into an Option Agreement on the high-grade Exodus Gold Project in British Columbia, Canada.
On behalf of the Board of Directors,
Peter A. Ball
President & CEO
For further information, visit the Company's website at www.nvgoldcorp.com or contact:
Peter A. Ball, President & CEO
Email: [email protected]
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, and other future plans and objectives of the Company including further drilling at the Slumber Gold Project, 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.
SOURCE: NV Gold Corporation