03:01:26 EDT Wed 27 May 2020
Enter Symbol
or Name

Login ID:

NV Gold stakes Sandy project in Nevada

2019-09-05 12:13 ET - News Release

Mr. John Watson reports


NV Gold Corp. has acquired 100-per-cent control of the Sandy gold project, located in Lyon county, Nevada, by staking available ground over and around the gold project. The property was identified by reviewing the company's second purchased geological database, bought in 2018 from USMX, an exploration and development mining company which significantly explored Nevada during the 1970s and 1980s. NV Gold first purchased database comprises the work done by AngloGold Ashanti in the Western United States from 1990s through to the mid-2000s, and also continues to provide new ideas and potential projects.

"The Sandy gold project is the first of numerous projects for staking that NV Gold's technical team has identified using our extensive, 100-per-cent-owned database purchased from USMX," commented Peter A. Ball, NV Gold's president. "In addition, our drill program at the Slumber gold project continues, we are preparing for a drill program at the high-grade Root Spring project for October, we anticipate assays from both Frazier Dome and Slumber in September/October and we continue to discuss strategic partners for certain projects in our growing portfolio."

Sandy gold project review

The Sandy gold project, located in Lyon county, Nevada, shows widespread alteration and mineralization hosted by tertiary volcanic rocks. Alteration mostly occurs as argillization of the host volcanic units, closely associated with iron oxides. Mineralization is most obviously expressed as several types of veins, including banded epithermal veins with chalcedonic to finely crystalline quartz, with varying amounts of calcite and adularia, and local barite. Coarse-grained calcite veins are also present.

"Sandy exhibits alteration, mineralization and geochemical signatures consistent with other low-to-intermediate-sulphidation deposits in the vicinity, including Como, Hercules and the Comstock lode," states Dr. Marcus Johnston, vice-president, exploration, NV Gold. "Como was in gold and silver production from 1900 to 1940, Hercules includes a current gold resource and the Comstock lode highlights the potential of this area in the Walker Lane structural province, with historic production of 8.4 million ounces Au and over 190 million ounces Ag."

Sandy was originally explored in 1993 to 1994, which included geologic mapping, rock-chip and soil sampling, and drilling. Rock-chip assay and geochemistry values of 1.5 parts per million Au, 7,937 ppm As, 240 ppm Sb and 31 ppm Hg. Seventeen holes were drilled, where the strongest values were identified to be found in the altered zones and in vein systems. The company is currently reviewing the geological database and historical drill intercepts found in preliminary reports are:

  • Sandy-6: 0.84 gram per tonne Au from 45.7 metres to 57.9 m, 1.16 g/t Au from 106.7 m to 115.8 m, 0.53 g/t Au from 131.1 m to 140.2 m;
  • Sandy-7: 0.91 g/t Au from 48.8 m to 54.9 m;
  • Sandy-10: 0.44 g/t Au from 48.8 m to 54.9 m.

"These types of deposits are ideal for structural targeting and we look forward to initiating our own mapping and sampling campaign this fall," continues Dr. Johnston. "We are currently planning on building a better understanding of mineral deposits for the Sandy vicinity and will look to assess additional information from our databases regarding the project and local area."

NV Gold notes that there is no guarantee that the historical results are representative and cannot guarantee that the company will be able to duplicate the results with future exploration programs. NV Gold's management team does not view the Sandy project material to the company at this time.

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 database, 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.

We seek Safe Harbor.

© 2020 Canjex Publishing Ltd. All rights reserved.