Mr. John Watson reports
NV GOLD HIGHLIGHTS EXPLORATION POTENTIAL OF FRAZIER DOME GOLD PROJECT, NEVADA
NV Gold Corp. has highlighted recent results from its drill program at its 100-per-cent-controlled Frazier Dome gold project, located in the Tonopah mining district inNevada. The August, 2018, reverse circulation drilling tested four of nine targets identified on the property, with two holes each, for a total exploration program of 4,620 feet (1,408 metres) in eight holes.
John Watson, chairman and chief executive officer of NV Gold, commented:"We are pleased with our initial exploration program on the Frazier Dome gold project, which yielded notable runs of detectable gold across altered and mineralized zones up to 150 metres in width. Five of the eight widely spaced holes delivered gold intersections greater than 0.10 gram per tonne and up to 1.035 grams per tonne, pointing to what we believe could be a robust gold system at depth. Noting epithermal veins are zoned vertically, the results provided the lateral focus required to assist in targeting possible bonanza or boiling zones within the system. The company is currently evaluating a potential deeper drill program at Frazier to test this concept and also to accelerate testing of the additional five known target zones on the property."
Geological interpretation
All eight holes encountered runs of altered and mineralized rock, with the most intense alteration typically associated with local introduction of silica and pyrite in breccia zones. Most of the altered rock is associated with anomalous gold plus or minus silver. Drilling identified low concentrations of gold (typically 0.005 gram per tonne to 0.020 gram per tonne), but of significance, nearly continual runs of detectable gold were identified: approximately 105 metres in FD-1, 150 metres in FD-2 and 135 metres in FD-5. In addition, hole FD-8 intersected 0.53 gram per tonne over 12.2 metres (40 feet) (from 13.7 metres below surface) and hole FD-5 intersected 0.38 gram per tonne over 7.62 metres (25 feet) (from 62.5 metres below surface). Drilled widths are currently reported, and true widths are not known at this time.
Given the exposed widths and lengths, with the estimated depths and calculated volumes, the company believes it is possible for a robust gold deposit to occur deeper on the claim block.
The expected follow-up program should include a predrilling gravity survey, with or without additional geophysics, to help identify additional vein zones, especially on the 80 per cent of the property covered by postmineral volcanic rocks and alluvium. Five of the original nine targets permitted remain untested, and deeper holes should be planned for the targets already tested. The geologic environment at Frazier Dome remains favourable to host a significant deposit.
About Frazier Dome project
The Frazier Dome project, staked by the company, is located 13 kilometres north of the Tonopah mining district inNye county, Nevada. The project contains a low-to-intermediate-sulphidation, volcanic-hosted epithermal gold system with high-grade mineralization where:
Gold occurs in silicified breccias adjacent to a Middle Miocene felsic dome (company surface samples up to 6.1 grams per tonne gold over three metres, with historical surface samples grading up to 14.7 grams per tonne gold); High-grade gold also occurs in north-northwest-trending quartz veins (company surface samples grading up to 11.2 grams per tonne gold) within the volcanic rocks farther east from the dome and along the contact between the volcanic rocks and underlying pre-Cenozoic basement (historical drill hole with 7.5 grams per tonne gold over three metres at 58 metres).
The Tonopah mining district contains multiple styles of volcanic-hosted epithermal gold mineralization similar to that at Frazier Dome, including:
High-grade, intermediate-sulphidation silver-rich veins that historically produced 174 million ouncessilver and 1.9 million ounces gold; Younger, low-sulphidation, gold-rich mineralization related to intrusive rhyolite domes, which has been the focus of modern exploration (for example, Hasbrouck and Eastside deposits).
Quality control and quality assurance
Exploration activities at the Frazier Dome gold project were conducted under the supervision of Dr. Marcus Johnston, exploration manager for NV Gold. Assays were performed by ALS (Reno, Nev., and Vancouver, B.C., Canada). The data verification procedures and quality assurance/quality control procedures for the program included inserting certified standards and blanks into the sample stream.
Dr. Michael Gustin of Mine Development Associates, an independent qualified person under National Instrument 43-101, has reviewed and approved the technical information disclosed in this release.
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 utilizing the prospector generator model. Leveraging its highly experienced in-house technical knowledge, NV Gold's geological team intends to use its geological database, which contains a vast treasury of field knowledge spanning decades of research and exploration, combined with a portfolio of mineral properties in Nevada, to create opportunities for lease or joint venture. NV Gold plans to aggressively acquire additional land positions for the growth of its business.
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