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NV Gold Corp
Symbol NVX
Shares Issued 48,806,296
Close 2014-08-28 C$ 0.33
Market Cap C$ 16,106,078
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NV Gold drills 33.5 m of 1.33 g/t Au at Rattlesnake

2014-08-29 12:52 ET - News Release

Mr. John Watson reports

NV GOLD DISCOVERS NEW GOLD ZONE AT RATTLESNAKE HILLS

NV Gold Corp.'s 14-hole drill program recently completed on its newly acquired Rattlesnake Hills project in Natrona county, Wyoming, has intercepted significant gold mineralization at Blackjack, a previously undrilled target on the property.

Hole NVJ-001 intercepted 33.5 metres grading 1.33 grams per tonne (or 1.33 parts per million or 110 feet of 0.039 ounce per ton). Hole NVJ-001 was mineralized throughout its entire length of 152 metres (500 feet), with an average grade for the entire hole of 0.556 gram per tonne. The hole is the westernmost hole in the program, and, therefore, this new zone is open in that direction. The company has not received the silver assays for hole NVJ-001 and will report them separately when received. Hole NVJ-001 was transected by hole NVJ-008 (minus 45 degrees), which passed hole NVJ-001 at approximately 85 metres from its collar (60 metres south of hole NVJ-001). Several intercepts were present in hole NVJ-008, confirming the results in hole NVJ-001 (see attached table).

Two additional holes were completed to the east of hole NVJ-001 to test lateral continuity. Holes NVJ-005 and NVJ-007 were drilled 50 metres and 90 metres east of hole NVJ-001, respectively. Both holes were angle holes drilled to test the structure at 60 metres to 80 metres depth. Both holes encountered multiple intercepts of gold and silver mineralization. Importantly, mineralization is increasing in intensity and grade from east to west. Significant results from the Blackjack program are shown in the attached table.

            RESULTS FROM THE BLACKJACK PROGRAM

              Total                            Au      Ag     AuEq
Hole          depth     Intercept  Length   grade   grade    grade
                 (m)           (m)     (m)   (g/t)   (g/t)    (g/t)

NVJ-001         152      0 to 152     152   0.556      (i)      (i)
including               0 to 33.5    33.5   1.332      (i)      (i)
                         43 to 60      17   0.518      (i)      (i)
                      65.5 to 152      87   0.342      (i)      (i)
NVJ-002          76     0 to 12.2    12.2   0.384    1.33     0.40
NVJ-003         116     0 to 12.2    12.2   0.423    1.33     0.44
NVJ-004          76       0 to 20      20   0.201    1.39     0.22
NVJ-005         152       0 to 12      12   0.446    1.10     0.46
                         46 to 58      12   0.545    3.63     0.60
                         64 to 98      34   0.315    6.75     0.42
NVJ-007         152    111 to 122      11   0.860   11.44     1.04
NVJ-008         136       0 to 14      14   0.352    1.09     0.37
                         38 to 46       8   0.286    6.86     0.39
                     67.1 to 80.8    13.7   0.721   33.26     1.23
                         81 to 96      15   0.235    7.18     0.35
                       105 to 119      14   0.316   14.08     0.53

(i) Sample results are not yet received.                                        
Notes: True widths of these intercepts cannot be determined 
       with the information currently available. Gold 
       equivalent is calculated using gold:silver of 1:65.

Key observations are as follows:

  • Seven of eight holes at Blackjack returned gold values of significance. Six of eight holes, so far, report silver values of interest, with hole 1 remaining to report.
  • Hole NVJ-001 was collared in strong mineralization and was mineralized throughout its entire length.
  • Gold mineralization encountered in this drill program represents the first discovery of gold outside the two previously drilled deposits at North Stock and the Antelope basin, located nearly eight kilometres to the east, supporting the concept that Rattlesnake Hills could be a district-scale gold play.
  • Results indicate that the Blackjack zone is increasing in grade and intensity in an east-to-west direction. The strongest hole was on the western edge of the drilling and is open to the west and north and at depth.

Additionally, six holes were drilled at the Baldy prospect, located on the northwestern portion of the property. Although there was no significant mineralization encountered in these holes, the alteration and structure were of interest and additional follow-up work will be undertaken.

John E. Watson, the company's president, said: "This was the company's first exploration drilling program at Rattlesnake Hills and it has succeeded in its primary objective of discovering a new gold zone outside the two known, previously drilled deposits. The mineralization remains open to the west along strike and to the north. Both directions have geochemical sampling supportive of a successful follow-up program. We are very excited by these results and will be planning additional drilling at Blackjack and other targets in 2015."

Exploration activities at the Rattlesnake Hills gold project were conducted under the supervision of Michael B. Ward, PGeo, a contract geologist of NV Gold who is not independent but is a qualified person under National Instrument 43-101. Mr. Ward has approved this news release. Assays reported were conducted by ALS Chemex (Reno, Nev., and Vancouver, B.C.) using fire assay with an AA finish and ICP. The data verification procedures and quality assurance/quality control procedures followed for the recent drilling program involved inserting certified standards and blanks into the sample stream. Rig duplicates have been collected.

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