VANCOUVER, BC / ACCESSWIRE / August 28, 2024 / NV Gold Corporation (TSXV:NVX) (the “Company”) is pleased to announce that a technical analysis has been completed on NV Gold Corporation’s 100% owned Oasis gold and copper project. Located in the Walker Lane structural and mineral belt of west central Nevada, about 30 miles to the west-southwest of Goldfield (>4m oz Au high sulfidation system), and about 11 miles south of the Silver Peak gold and silver district’s Nivloc mine, the area is considered fertile for economic mineral concentrations.
The project has many of the characteristics of the zone near the top of a porphyry system (Yerington, New Boston, Paradise Peak East) and zones near the plumbing of a high sulfidation epithermal setting (Goldfield, the Graben deposit in the Borealis District, some deposits in the Monte Cristo range). Abundant and widespread strong argillic alteration, more localized potassic zones, sheeted quartz veins, quartz-alunite ledges and multiple pulses of magma injection, along with evidence of multiple overprinting periods confirm the style of system, and general location of the system within the well-known porphyry to epithermal continuum. The single age date from alteration, was dated at 16.1± 0.7 Ma (Wolverson, 1987). This corresponds well with the age of mineralization at several other Nevada gold deposits including Sleeper, and Midas.
Historic shallow drilling data is not available. Centerra Gold conducted a 2010-2011 program of 27 RC holes (23,920′, 7,290.8m), that is the basis for this report. There were 14 holes with intercepts of gold above 0.220 ppm, the cut-off grade used to form gold intercepts. In addition, 6 holes contained intervals above 300 ppm copper., while there are several elevated Zn intervals, and one elevated Co interval.
Based on drill holes with Au assay values available, there is not presently sufficient drilling density to calculate an Inferred Resource. The data currently available does provide an exploration target that contains between 17 and 19 million tons, with grades ranging from 0.25 to 0.425 g/t. The target has been developed on 2d sections 100 meters apart, using the mean grade of each intercept, and a range of +/- 25 percent. Density values used ranged from 2.25 g/cm3 to 2.55 g/cm3. This exploration target contains 54 mineralized zones at least 3 meters downhole, in a zone at least 1.2 km in an east west trend, and 0.5 km wide. There are no drill holes along one of the sections, as well as several untested areas internal and outboard mostly to the south and west.
Drilling the next phase would be designed to expand the scope of the known gold zone and to increase the drill density of the previous drilling to advance the project toward resource status.
“The Oasis project has demonstrated both gold and copper potential. The near-surface gold zone (discussed above) is open in several dimensions and has potential to become an economic deposit by itself or as part of a larger, multi-metallic system that would encompass deeper copper mineralization. This project has become increasingly important due to the recent copper market changes.” States John Watson, Chairman and Interim Chief Executive Officer.
https://nvgoldcorp.com/properties/nevada/under-evaluation/oasis-project/
Qualified Person: The technical information in this news release was compiled, reviewed, and approved by Jesse D. Wellman, CPG, an American Institute of Professional Geologists certified Professional Geologist, and is a Qualified Person as defined in the NI 43-101. Jesse D. Wellman, CPG is a consulting Economic Geologist, and Qualified Person with over 20 years’ experience in precious metals exploration, discovery, and development.
About NV Gold Corporation
NV Gold Corporation is a well-organized exploration company with 11,397,913 million shares issued and outstanding on a fully diluted basis. NV Gold has 21 exploration projects in Nevada comprising 639 100%-Company-owned lode mining claims totaling 53.4 square kilometers (20.6 square miles) 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.
On behalf of the Board of Directors,
John Watson, Chairman and Interim CEO
For further information, visit the Company’s website at or contact:
Freeform Communications at 604.245.0054
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation and statements that are based on the beliefs of management and reflect the Company’s current expectations. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Such statements and information reflect the current view of the Company and include, without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management’s expectations and intentions with respect to, among other things: the potential quantity and grade of mineral resources identified in the Exploration Target and the Company’s current expectations regarding future exploration and development plans. Risks and uncertainties may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information or forward-looking statements that are contained or referenced herein, except as may be required in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice regarding forward-looking information and statements.
SOURCE: NV Gold Corporation
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Publish date : 2024-08-28 01:16:00
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