NV Gold Announces the Approval of the Notice of Intent for its Drill Program on the SW Pipe Project in Nevada

Rhea-AI Summary

NV Gold Corporation (TSXV:NVX)(OTCQB:NVGLF) announced the approval of its Notice of Intent (NOI) for the SW Pipe Gold Project in Lander County, Nevada. The U.S. Bureau of Land Management confirmed the NOI is complete, allowing the company to proceed with drilling activities. The SW Pipe project comprises 84 claims and is strategically located near major gold mines. Historical drilling indicated a near-surface oxide-gold zone. NV Gold plans to start drill-testing in Q1 2023, subject to necessary resources. The company aims to leverage its extensive geological data to enhance mineral discoveries in Nevada.

Positive

• NOI approval allows NV Gold to begin drilling at SW Pipe Gold Project.
• SW Pipe is located near major gold deposits, enhancing discovery potential.
• Historical drilling shows promising results with intercepts of 15 m+ @ 0.5-1.0 g/t Au.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / February 7, 2023 / NV Gold Corporation (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) ("NV Gold" or the "Company") is pleased to announce that it has received the approval of the Notice of Intent ("NOI") for the Company's SW Pipe Gold Project in Lander County, Nevada ("SW Pipe").

The U.S. Department of the Interior's Bureau of Land Management ("BLM") has reviewed the NOI and determined it is complete, containing all the information required by the surface management regulations at 43 CFR 3809.30. The BLM has reviewed the proposed operation and determined that it is adequate to proceed.

About the SW Pipe Gold Project:

SW Pipe is located in Lander County, approximately 6 km (3.7 miles) southwest of the world-class Pipeline gold mine in the central Cortez gold belt of north-central Nevada. SW Pipe has 84 unpatented mining claims and is 100%-owned by NV Gold. Historical drilling established a near-surface, oxide-gold zone characterized by multiple intercepts of 15 m+ @ 0.5-1.0 g/t Au (see Company's press releases dated October 26, 2022, and December 14, 2022). After the evaluation and analyses of two extensive geochemical surveys and the recent approval of the NOI, the Company intends to proceed and commence drill-testing for a potentially significant Carlin-type gold deposit on SW Pipe in Q1 of 2023, subject to capital and drill rig availability (see Figures 2 & 3).

Thomas Klein, VP Exploration stated, "I am excited to have received the BLM's approval to start earthwork and drill site preparation on our SW Pipe gold project in Lander County, Nevada. In 2022, the Company identified multiple overlapping geochemistry anomalies suggesting the presence of a Carlin-type gold system on the Property. We are in an excellent neighborhood to Nevada Gold Mines' (NGM) multi-million-ounce Pipeline and Cortez gold deposits and NV Gold has an excellent opportunity to make a new discovery in proximity to NGM's gold mining operations.

Figure 1: NV Gold Landholding Map.

Figure 2: SW Pipe Location in Proximity to the Cortez and Pipeline Gold Mines.

Figure 3: SW Pipe Soil Geochemistry and Mercury Vapor Target, and proposed Drill Hole Location.

About NV Gold Corporation

NV Gold (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) is a Nevada-focused exploration company with ~80 million shares issued and no debt. The Company is based in Vancouver, British Columbia, and Reno, Nevada and is focused on delivering value through mineral discoveries in Nevada, USA. Leveraging its expansive property portfolio, its highly experienced in-house technical team, and its extensive geological data library, 2023 promises to be highly productive for NV Gold.

On behalf of the Board of Directors,

John Seaberg, Director, and 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. 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 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.

SOURCE: NV Gold Corporation

View source version on accesswire.com:
https://www.accesswire.com/738309/NV-Gold-Announces-the-Approval-of-the-Notice-of-Intent-for-its-Drill-Program-on-the-SW-Pipe-Project-in-Nevada

FAQ

What is the significance of the NOI approval for NV Gold (NVGLF)?

The NOI approval allows NV Gold to initiate drilling at its SW Pipe Gold Project, a crucial step in exploration.

Where is the SW Pipe Gold Project located?

The SW Pipe Gold Project is located in Lander County, Nevada, approximately 6 km southwest of the Pipeline gold mine.

What are the historical results of the SW Pipe Gold Project drilling?

Historical drilling at SW Pipe has shown multiple intercepts of 15 m+ at grades of 0.5-1.0 g/t Au.

When does NV Gold plan to start drilling at the SW Pipe Project?

NV Gold plans to commence drill-testing at the SW Pipe Project in Q1 2023, depending on resource availability.