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NV Gold Corp (2)
Symbol NVX
Shares Issued 64,823,937
Close 2021-06-08 C$ 0.345
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NV Gold signs lease deal over Pickhandle

2021-06-08 13:32 ET - News Release

Mr. Peter Ball reports


NV Gold Corp. has entered into a lease agreement with Robert Foster and Jay Winrod, providing NV Gold the right to lease an undivided 100-per-cent right, title and interest in the Pickhandle gold project in Lander county, Nevada.

"In 2021, we are focused on ensuring that we provide the opportunity for a gold discovery in Nevada. Leasing the highly prospective Pickhandle project in the Cortex trend area in Nevada and building strong relationships with respected gold prospectors Robert and Jay is key to establishing NV Gold as the story to follow in 2021," commented Peter A. Ball, president and chief executive officer of NV Gold. "As we continue to add key drill-ready gold projects to build out our portfolio for our upcoming exploration season, we are readying and expanding our technical team and look forward to the drills turning at multiple projects during 2021."

About the Pickhandle gold property:

  • The project is located at a structural intersection of the Rabbit suture (Highway 305) and the Crescent Valley fault zone, approximately 45 kilometres southwest of Nevada Gold Mine's Cortez and Pipeline multimillion-ounces gold deposits.
  • The Pickhandle gold target comprises a small window of Permian Edna Mountain limestone cut by mineralized dikes. The surface geology, alteration, structural complexity and geochemical environment are strongly indicative of a Carlin-type gold environment. Particularly, the pervasive silicification (jasperoids) and silica-flooded brecciation, superimposed on ferroan dolomite, are especially encouraging. Gold values from rock chip sampling reached up to 1.5 grams per tonne (g/t) gold (Au).
  • It is particularly significant that the Pickhandle prospect area has never been drilled and shows no evidence of having been prospected in recent times.
  • NV Gold will conduct a phase 1 exploration program during 2021, leading to a potential RC (reverse circulation) drilling program, which will be focused on testing all unexposed Permian Antler sequences and to extend the target underneath Tertiary volcanic cover and into the pediment.

"I am pleased that Jay and Rob have partnered up with NV Gold to advance the Pickhandle gold project, which has never been drilled. The project has the right structural complexity, Carlin-type ingredients, and is in an excellent neighbourhood to the Cortez and Pipeline gold deposits. After the Discovery Bay lease agreement announced last week, this will be the second drill-ready project acquired recently by NV Gold. I am excited to be part of a new chapter in NV Gold's future, with the beginning of an aggressive multiproject drilling campaign in Nevada," stated Thomas Klein, exploration manager of NV Gold.

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 Pickhandle project as material to the company at this time.

About NV Gold Corp.

NV Gold is a well-financed exploration company with approximately 77 million shares issued, close to $4.5-million in its treasury and no debt. The company is based in Vancouver, B.C., and Reno, Nev., and is focused on delivering value through mineral discoveries in Nevada, United States. Leveraging its expansive property portfolio, its highly experienced in-house technical team and its extensive geological data library, 2021 will be NV Gold's busiest exploration year in its corporate history.

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