NV Gold Increases Holdings and Plans Drill Program at ATV Project in Nevada
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 5, 2017) - NV Gold Corporation (TSX VENTURE:NVX)(OTCQX:NVGLF) ("NV Gold" or the "Company") is pleased to announce it has increased its land position at its 100% owned ATV Project, through staking, to 417 lode mining claims, approximately 34 sq km of mineral rights covering a strategic area near Newmont Mining Corp.'s Twin Creeks mine in northwest Nevada.
The ATV project is entirely covered by valley gravels on the western portion of the project and a veneer of volcanic rocks on the eastern portion. Interpretation of gravity data and structural modeling by NV Gold suggests that Paleozoic sediments are likely present at shallow depths beneath both areas. Previous drilling immediately northwest of the property by Evolving Gold Corp. in 2011 determined favorable Paleozoic sedimentary rocks lie as close as 100 meters within surface and intersected gold mineralization at depths below 200 meters.
NVX is planning a 2,500-metre drill program at ATV, beginning in late June or early July. The Company has filed Notices of Intent with the Bureau of Land Management for the program. The drilling will be focused on several gravity highs that were delineated by its recently-completed gravity survey of the areas.
The program is scheduled to drill 12-18 RC holes with depths ranging from 100 to 300 meters. The program is expected to be complete in late July or early August.
John Watson, NVX's CEO states "The ATV Project is a high-risk, but potentially high-reward gold play employing a new geologic model. The proximity to several existing mines with historic production or resources totaling nearly 60 million ounces of gold forms the conceptual basis when combined with the structural extensional dynamics of the area."
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 President, CEO 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
For further information, visit the Company's website at www.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 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.