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NV Gold Announces the Approval of the Notice of Intent (NOI) for it's Triple T Gold Project in Nevada

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NV Gold Corporation has received the approval for the Notice of Intent (NOI) for its Triple T Gold Project located in Pershing County, Nevada. This project comprises 41 claims and is situated near significant gold mining operations. Historical drilling has yielded gold grades up to 11.7 g/t Au and other promising results. The company will begin construction for 10 additional drilling holes by the end of the month as part of its exploration initiatives, aiming to enhance the project's potential and advance it to a pre-discovery stage.

Positive
  • Approval of Notice of Intent (NOI) for Triple T Gold Project.
  • Historical drilling shows gold grades up to 11.7 g/t Au.
  • Planned construction of 10 additional drilling holes to enhance exploration.
Negative
  • None.

VANCOUVER, BC / ACCESSWIRE / October 11, 2022 / 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 Triple T Gold Project in Pershing County, Nevada ("Triple T").

About the Triple T Gold Property:

  • Comprised of 41 claims and located in the Humboldt Range 9 kilometers (5.6 miles) east of the Rochester silver-gold operation and 42 kilometers (26.1 miles) southeast of the Florida Canyon gold mine (see Figure 1).
  • Formerly named Fisher Canyon, Triple T was initially drilled by Evolving Gold in 2007 and became NV Gold's principal exploration asset when the Company was formed in 2009.
  • NV Gold started in May 2009 with geological reconnaissance, followed by several campaigns of surface rock and soil geochemistry sampling, and concluded with a drilling program in October 2009.
  • Two principal zones of gold mineralization, the "South Area," and the "North Area," were identified by earlier exploration and drilling campaigns. A third zone of rock chip gold-anomalism, called the "Next Target," was never drilled.
  • In June 2021, the Company signed a Lease Agreement (the "Agreement") providing NV Gold the right to lease an undivided 100% right, title, and interest in Triple T.
  • The Company, guided by 3-D Leapfrog modelling, sees the opportunity to re-evaluate this comprehensive near-surface, oxide-gold potential with gold grades up to 11.7 g/t Au from rock chip sampling and open drill intercepts of 32 meters @ 0.73 g/t Au (Evolving Gold in 2007) and 16.8 meters @ 1.345 g/t Au (NV Gold in 2009), to improve and enhance the Property to a pre-discovery stage (see Figure 2 & 3) .
  • The Company has recently received the approval of the Triple T "Notice of Intent (NOI)" for 10 additional RC (reverse circulation) holes and will commence with the drill site construction by the end of this month.

Thomas Klein, VP Exploration stated, "I am excited to have received the approval for drilling NV Gold's Triple T Gold Project located at the southeastern end of the Humboldt Range, Pershing County, Nevada. Triple T is one of three promising lease agreements the Company has done with Tom Callicrate (Mountain Gold Claims, LLC) over the last year. The Project has decent gold values with multiple grams up to 11.7 g/t Au from rock chip sampling and the remaining open gold intercepts from historical drilling in excess of 1.0 g/t Au were compelling enough to get the Project added back to NV Gold's Exploration Portfolio."

NV Gold Corporation, Tuesday, October 11, 2022, Press release picture
Figure 1: NV Gold Landholding Map
NV Gold Corporation, Tuesday, October 11, 2022, Press release picture
Figure 2: Triple T Gold Project General Location Map
NV Gold Corporation, Tuesday, October 11, 2022, Press release picture
Figure 3: Triple T Gold Project Oxide Mineralization and 2009 Drill Intercepts
NV Gold Corporation, Tuesday, October 11, 2022, Press release picture
Figure 4: Leapfrog Gold Model with NW-looking Cross-section showing open Gold Mineralization

About NV Gold Corporation

NV Gold (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) is a well-financed exploration company with ~80 million shares issued, a solid treasury 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, 2022 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/719811/NV-Gold-Announces-the-Approval-of-the-Notice-of-Intent-NOI-for-its-Triple-T-Gold-Project-in-Nevada

FAQ

What is the significance of the Notice of Intent (NOI) approval for NV Gold Corporation's Triple T Gold Project?

The NOI approval allows NV Gold to proceed with the construction of drill sites for additional exploration at the Triple T Gold Project, facilitating further assessment of its gold potential.

What historical gold grades have been reported at the Triple T Gold Project?

Historical drilling at the Triple T Gold Project has reported gold grades up to 11.7 g/t Au.

What is the location of the Triple T Gold Project?

The Triple T Gold Project is located in Pershing County, Nevada, near other significant mining operations.

What are NV Gold Corporation's future plans for the Triple T Gold Project?

NV Gold plans to commence drilling with 10 additional holes to explore the project's near-surface oxide-gold potential.

What does NV Gold Corporation aim to achieve with the Triple T Gold Project?

The company aims to advance the Triple T Gold Project to a pre-discovery stage by leveraging its historical exploration data and recent approvals.

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