NV Gold to Commence Phase I Drill Program at Its Sandy Gold Project in Nevada
NV Gold Corporation (TSXV: NVX, OTC PINK: NVGLF) has announced the initiation of a drill program at its 100% owned Sandy Gold Project in Nevada. The program will involve up to 1,500 meters of drilling across 10 reverse circulation holes, marking the first drilling effort since the early 1990s. NV Gold also expects to receive a drill permit for its Slumber Gold Project in November and is planning a diamond drill program at the Exodus Gold Project in British Columbia. The company is focusing on profitable mineral discoveries leveraging its technical expertise.
- Initiating a drill program at the Sandy Gold Project, expected to enhance resource evaluation.
- Mobilizing a skilled technical team to propel exploration efforts.
- Plans to receive additional drill permits for the Slumber Gold Project, expanding exploration opportunities.
- Collaborating with senior geological consultants to update the geological model for the Exodus Gold Project.
- Previous drilling at Sandy Gold was conducted in the 1990s, highlighting a long gap in exploration activity.
- Potential delays in receiving necessary regulatory approvals for drilling programs.
VANCOUVER, BC / ACCESSWIRE / October 19, 2020 / NV Gold Corporation (TSXV:NVX)(OTC PINK:NVGLF) ("NV Gold" or the "Company") is pleased to announce it is mobilizing its technical team to its
"NV Gold has an extremely busy Fall exploration season with three drill programs planned, commencing initially with our first drill program at the Sandy Gold Project, which last saw drilling in the early 1990s," commented Peter A. Ball, President and CEO of NV Gold. "In addition, we anticipate receiving our drill permit in the next week for our planned drill program in November at our Slumber Gold Project in Humboldt County, Nevada, which is held under a lease under which the Company's subsidiary holds a
At the Sandy Gold Project, the results from the recently completed property-wide geophysical program, in combination with a site visit by our technical team, was very valuable in assisting and prioritizing RC drill targets to test this low-sulphidation epithermal gold system. NV Gold has secured DrillRite LLC, an experienced and highly regarded exploration drill contractor based in Elko, Nevada, to carry out its drilling program at Sandy.
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, where drilling is also ongoing.Originally explored in 1993-1994 which included 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, and the receipt of permits for drilling 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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