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NV Gold samples up to 8.02 g/t Au at Root Spring

2019-08-07 10:42 ET - News Release

Mr. John Watson reports


NV Gold Corp. has released strong gold (up to 8.02 grams per tonne (g/t)) and silver (up to 1,495 g/t) assay results from its sampling program at its 100-per-cent-controlled Root Spring gold-silver project in the East Range, Pershing county, Nevada.

Highlights of recent surface sampling program:

  • 39 rock chip samples were collected and submitted for assaying;
  • 28 per cent returning silver assays greater than 150 grams per tonne (g/t) and up to 1,495 g/t silver;
  • 41 per cent of samples returned greater than 0.5 g/t gold; 23 per cent of samples returned greater than one g/t gold and up to 8.02 g/t gold;
  • Positive base metal results up to 0.51 per cent copper, 0.68 per cent lead and 0.89 per cent zinc;
  • The company is now reviewing the potential for a fall drill program.

"Assays results at Root Spring are very positive and we will immediately expand our exploration plans for the project, including reviewing the potential opportunity for a drill program later in the year," commented Peter A. Ball, president. "With a strong gold market that continues to set new highs each month, NV Gold is positioned well with multiple drill programs about to commence, ongoing discussions with new joint venture partners on our project portfolio and new opportunities that are being discovered from our extensive geological databases. We expect news flow to continue deep into the fall."

About Root Spring gold project

Root Spring comprises 54 lode claims on BLM ground and is located 80 kilometres south of the city of Winnemucca and 26 kilometres east of the world-class open-pit Rochester silver-gold mine operated by Coeur Mining. The project contains a gold-silver vein system partly exposed at the edge of a large alluvial-covered valley. Mineralization is hosted by metavolcanic rocks that may be equivalent to parts of the Koipato group, which were not previously identified in the area, and comprises felsic and mafic units. The Koipato volcanics host the Rochester silver-gold deposit, as well as the Spring Valley gold deposit, 27 kilometres northwest of Root Spring. Additional information on Root Spring is available in the July 23, 2019, press release.

"The Root Spring project is part of an historic mining region in Nevada that is seeing a recent resurgence in exploration activity. Hundreds of small-scale mines operated in the area prior to being shut down by the federal government in 1942, to divert all mining to basic materials necessary for the World War II effort. Very few of these mines were operated again and even fewer have seen proper modern exploration," says Dr. Marcus Johnston, vice-president of exploration. "The current mines and resources in the vicinity of Root Spring include Rochester/Packard (3.4 million ounces Au, 317.5 million ounces Ag), Spring Valley (5.4 million ounces Au) and Lincoln Hill (359,000 ounces Au, 9.5 million ounces Ag), which are all part of a large group of related orogenic gold-silver deposits in the region that remain underexplored."

Quality control and quality assurance

Sampling activities at the Root Spring gold project were conducted under the supervision of Dr. Marcus Johnston, vice-president of exploration for NV Gold. Samples were submitted to the ALS Global Geochemistry Analytical Lab in Reno, Nev., for assays and geochemical analyses.

Dr. Quinton Hennigh (doctor of philosophy and professional geoscientist) 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, chairman and a director of Novo Resources Corp.

About NV Gold Corp.

NV Gold is a junior exploration company based in Vancouver, B.C., that is focused on delivering value through mineral discoveries. Leveraging its highly experienced in-house technical knowledge, NV Gold's geological team intends to utilize its geological databases, which contain a vast treasury of field knowledge spanning decades of research and exploration, combined with a portfolio of mineral properties in Nevada, to prioritize key projects for focused exploration programs.

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