NV Gold Corporation (TSX-V:NVX, OTC:NVGLF) has provided an exploration activity update for 2023, outlining its highest drill priorities on three different projects and early-stage project evaluation.
The well-financed Vancouver-based exploration company said that out of its seven active projects in Nevada, it plans to prioritize three — SW Pipe gold project (SW Pipe), Slumber gold project and Triple T gold project.
In addition, NV Gold plans an intensive "boots on the ground" exploration campaign to evaluate over 30 new prospective areas generated through its Data Library Project, a collaborative exercise conducted with GoldSpot Discoveries Corp, and recent land acquisitions, such as the Gold Bell and Teton projects in the Bell Mining District in Nevada.
NV Gold highlighted the following drilling priorities:
- SW pipe gold project: Located in Lander County 6 kilometers (km) southwest of the world-class Pipeline gold mine in the central Cortez gold belt of Nevada. SW Pipe has 84 unpatented mining claims and historical drilling established a near-surface, oxide-gold zone characterized by multiple intercepts of 15 meters+ at 0.5-1 gram per ton (g/t) gold (Au). After the analyses of two extensive geochemical surveys, NV Gold has submitted a notice of intent to drill-test a potentially multi-million-ounce Carlin-type gold deposit on the SW Pipe project in the first quarter of 2023.
- Slumber gold project: Located 80.5 km northwest of Winnemucca, and 36 km west of the Sleeper Gold Deposit in Humboldt County, Nevada. The property has 82 unpatented mining claims. In 1Q 2022, NV Gold conducted a Phase 3 drilling campaign and completed 12 reverse circulation (RC) holes totaling 2,350m. The current target is an untested, wide-open zone of resistivity in the northern extent of the property. The 2023 drill program is scheduled to start in 2Q 2023, subject to capital availability, and consists of 3-to-6 RC holes to test for a potentially a "sleeper-type" gold deposit.
- Triple T Gold Project: Located in the Humboldt Range, 9 km east of the Rochester silver-gold operation and 42 km southeast of the Florida Canyon gold mine. The Triple T property has 41 unpatented mining claims. The company has received approval of the Triple T Notice of Intent for 10 additional RC holes and drilling is projected to start in 2Q 2023, subject to capital availability.
In addition, NV Gold hopes to add 5-to-7 new greenfield exploration projects into its project pipeline this year through a detailed analysis of over 30 targets identified by its Data Library Project conducted in collaboration with GoldSpot last year. NV Gold said it will also “evaluate several of its most prospective early-stage properties that are already in its portfolio.”
Investors can learn about the company’s Data Library Project here.
Bright opportunities
Meanwhile, NV Gold said that the evaluation of its previously acquired Gold Bell and Teton properties will go hand in hand with evaluating the GoldSpot targets in 1Q and 2Q 2023.
In a statement, Thomas Klein, VP Exploration at NV Gold, said: "I am excited to enter the new year seeing the gold price rising again and to get started with a new drilling campaign, beginning with our SW Pipe project in 1Q, which will be followed by drilling our Slumber and Triple T projects after its successful completion.”
He added: “SW Pipe has prominently defined geochemistry anomalies suggesting it has the potential to host a Carlin-type gold system at depth. In addition, the company did its homework by generating multiple new discovery-opportunities through the data Library Project and through continuous land acquisitions.”
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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