VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug 1, 2017) - NV Gold Corporation (TSX VENTURE:NVX)(NVGLF) ("NV Gold" or the "Company) announced today that it has commenced drilling at its 100% controlled ATV Gold Project in Nevada. NV Gold plans to complete up to 4,000 metres of reverse circulation ("RC") drilling at ATV in its initial program.
Drilling will focus various priority targets including:
- Targets associated with gravity highs believed to indicate areas underlain by prospective Paleozoic sedimentary rocks covered with recent valley-fill gravel and/or volcanic rocks;
- Structural targets along the margins of gravity highs;
- A large north-south oriented BLEG geochemical anomaly sitting astride a gravity high potentially resulting from shallowly buried favorable host-rocks;
- Unconformity-focused mineralization situated along the contact between Tertiary volcanic rocks and Paleozoic sedimentary rocks.
NV Gold has contracted Boart Longyear of Elko, Nevada, which has provided a truck-mounted RC drill for the ATV Gold Project.
John Watson, NVX's CEO states, "We are very pleased to commence drilling at our ATV Gold Project. Based on our geological assessment of the recently staked and leased land position that makes up the ATV Gold Project, there is the potential for the presence of significant sediment-hosted gold deposits similar to what is being produced 8-10 miles to the west, across the Pumpernical Valley. Our drill program will systematically test multiple priority areas, which were identified combining data recently acquired from a positive gravity survey on the area, extensive technical knowledge of the terrain, geochemical data and historical drill data in the vicinity. The initial holes will assist in defining the depths and structure of the Paleozoic sediments, as well as to test the various BLEG anomalies identified by NV Gold in March 2017."
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 Chairman, President, and a Director of Novo Resources Corp.
About NV Gold Corporation
NV Gold is junior exploration company based in Vancouver, British Columbia that is focused on delivering value through mineral discoveries utilizing the prospector generator model. Leveraging its highly experienced in-house technical knowledge, NV Gold's geological team intends to use its geological database, which contains a vast treasury of field knowledge spanning decades of research and exploration, combined with a portfolio of mineral properties in Nevada, to create opportunities for lease or joint venture. NV Gold plans to aggressively acquire additional land positions for the growth of its business.
On behalf of the Board of Directors,
John E. Watson, President and CEO
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 gravity data and the structural modeling by NV Gold suggesting that Paleozoic sediments are likely present at shallow depths at the ATV property, the planned exploration program consisting of 2,500 m of drilling of 12-18 reverse circulation holes to depths of 100m-300m and its timing, the potential to sell, lease or joint venture any of the Company's properties, and other future plans and objectives of the Company, including exploration plans, 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.