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NV Gold Corp (2)
Symbol NVX
Shares Issued 64,823,937
Close 2021-06-03 C$ 0.345
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NV Gold leases Discovery Bay property in Nevada

2021-06-03 14:55 ET - News Release

Mr. Peter Ball reports


NV Gold Corp. has entered into a lease agreement with Pete Herrera, providing NV Gold the right to lease an undivided 100-per-cent right, title and interest in the Discovery Bay gold property in Lander county, Nevada.

"As noted previously, we are focused on delivering one of NV Gold's most active exploration seasons. The Discovery Bay gold project is one of a number of exciting gold projects reviewed internally and the first acquisition of 2021," commented Peter A. Ball, president and chief executive officer of NV Gold. "Discovery Bay, with its strategic location and host rocks similar to the multimillion-ounce Cove-McCoy gold project operated by I-80 Gold Corp., is considered a drill-ready, advanced gold project, at which NV Gold will initiate exploration immediately after drilling is completed at its Slumber gold project. I anticipate the acquisition of additional drill-ready gold projects to add to our pipeline as we continue our internal review. We continue to discuss other projects within our portfolio for potential joint venture or lease agreements with external parties."

About the Discovery Bay project:

  • The project is located along the Rabbit suture (Highway 305) and in proximity to the Cove-McCoy gold deposits in Lander county, Nevada, controlled by I-80 Gold. This north-south structural zone is known to host other gold deposits, such as Turquoise Ridge (Twin Creeks) and the Phoenix and Lone Tree mines.
  • The Discovery Bay target comprises a one-kilometre-long, previously unknown and unexplored window of Triassic Osobb Mountain quartzite and Cane Springs limestone (host rocks at McCoy), as well as other underlying host lithologies. Most of the target is covered by thin layers of Tertiary volcanics and Quaternary rocks.
  • Historical drilling conducted by Newmont Mining in 2018 encountered a thick blanket of intensely sulphidized intrusive rock in contact with decalcified and gold-anomalous silty limestones.
  • NV Gold recently staked 39 additional claims to cover the surrounding potentially mineralized ground and plans to conduct an induced polarization survey and ground magnetics to potentially guide the project toward a drill program in 2021.

"After working in Nevada for over 20 years, I consider Discovery Bay to be a project that deserves to be drilled, based on the excellent work completed to date and its geological potential. I am extremely excited to work with Pete Herrera, who has owned these claims for nearly 30 years and has not had the opportunity to drill test his ideas. To have potentially mineralized Cove-McCoy host lithologies exposed at the surface, and mostly being covered by Tertiary volcanics and Quaternary gravels, makes this a prime target for a potential exciting discovery," stated Thomas Klein, exploration manager, NV Gold.

About NV Gold Corp.

NV Gold is a well-financed exploration company with close to $4.5-million in its treasury and no debt. The company is based in Vancouver, B.C., and is focused on delivering value through mineral discoveries in Nevada, United States, leveraging its highly experienced in-house technical knowledge. Two thousand twenty-one will be NV Gold's busiest exploration year in its corporate history.

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