NV Gold Announces Phase I Drill Program at Its Sandy Gold Project in Nevada

Rhea-AI Summary

NV Gold Corporation has received drill approvals for its Sandy Gold Project in Nevada, enabling a drilling program of up to 1,500 m across 10 drill holes. A recent geophysical survey was completed, identifying priority drill targets for this low-sulphidation epithermal gold system. The drill program is set to commence in October 2020. Additionally, NV Gold has submitted a drill permit for its Slumber Gold Project and is advancing its optioned Exodus Gold Project. The company aims to execute multiple drill programs in the latter half of 2020.

Positive

• Received drill approvals for Sandy Gold Project.
• First drill program includes up to 1,500 m across 10 holes.
• Completion of a property-wide geophysical survey to identify high-priority drill targets.
• Plans for multiple drill programs at Sandy, Slumber, and Exodus Gold Projects.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / September 29, 2020 / NV Gold Corporation (TSXV:NVX)(OTC PINK:NVGLF) ("NV Gold" or the "Company") is pleased to announce it has received necessary drill approvals for its 100% owned Sandy Gold Project ("Sandy") located within the Walker Lane, Lyon County, Nevada, USA. NV Gold's first drill program at Sandy encompasses up to 1,500 m in up to 10 drill holes.

A property-wide geophysical program was recently completed consisting of 198 line-kms of electromagnetic (resistivity and conductivity), magnetic, and radiometric surveys. Raw data is currently being analyzed by senior geophysicists from Goldspot Discoveries Corp. and will assist in delineating high priority drill targets testing this low-sulphidation epithermal gold system.

"We look forward to completing our first drill program at the Sandy Gold Project, which last saw drilling in the early 1990s. We are currently finalizing our drill program that is expected to commence in October 2020," commented Peter A. Ball, President and CEO of NV Gold. "At the same time we are preparing our drill at the Sandy Gold Project, we have recently submitted our drill permit for our 100% owned Slumber Gold Project in Humboldt County, Nevada, which was leased in 2019. We also continue to advance the optioned Exodus Gold Project in BC, Canada, where we can earn up to an 85% interest. This is shaping up to be a very exciting and busy second half of 2020 at NV Gold, with potentially three drill programs to be undertaken."

About the Sandy Gold Project

• 20 unpatented lode claims encompassing approximately 400 acres acquired for minimal staking costs in 2019 utilizing NV Gold's internal geological database.

• Strategically within a highly prospective low sulfidation epithermal gold district located in Lyon County, Nevada, USA.

• Staked prior to and now surrounded by the Hercules Gold Project claim block controlled by Eclipse Gold Mining (TSXV: EGLD). Eclipse Gold Mining has raised approximately $20 million to explore and advance its Hercules Project.

• Originally explored in 1993-1994 through work including geologic mapping, rock-chip and soil sampling, and drilling. Refer to the Company's press release September 5, 2019 for additional information on historical data.

About NV Gold Corporation

NV Gold (TSXV: NVX, US: NVGLF) is a well-financed 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
Phone: 1-888-363-9883
Email: peter@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 Company's planned exploration activities, including executing a drill program at the Sandy, Slumber and Exodus Gold Projects in the Fall of 2020, 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

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https://www.accesswire.com/608173/NV-Gold-Announces-Phase-I-Drill-Program-at-Its-Sandy-Gold-Project-in-Nevada

FAQ

What is NV Gold Corporation's stock symbol?

NV Gold Corporation trades under the stock symbol NVGLF on the OTC PINK market.

What is the Sandy Gold Project?

The Sandy Gold Project is a 100% owned property located in Lyon County, Nevada, that is set for a drill program of up to 1,500 m.

When is the drill program at the Sandy Gold Project expected to start?

The drill program at the Sandy Gold Project is expected to commence in October 2020.

What recent approvals did NV Gold Corporation receive?

NV Gold Corporation received necessary drill approvals for its Sandy Gold Project.

What geophysical work was done at the Sandy Gold Project?

A geophysical survey consisting of 198 line-kms was completed to assist in delineating drill targets.