NV Gold Corporation (TSX-V:NVX, OTC:NVGLF) said it has identified a strong geochemical anomaly from a recent soil sampling program at its SW Pipe gold project in Nevada.
A total of 567 soil samples were collected and modeled, revealing a large and comprehensive zone of overlapping carlin-type geochemical anomalies including gold, arsenic, antimony, mercury, thallium, and selenium. The zone is also located in the neighborhood and merges with a magmatic plume, which is defined by strong lead, tungsten, and tellurium.
Specifically, the company’s rock-chip assays reached 1.47 ppm of gold, while historic shallow drilling in 1989 yielded intersections that included 0.442 grams per ton over 16.8 meters, 0.654 g/t over 15.2 m, 0.794 g/t over 9.2 m and 0.580 g/t over 18.3 m.
READ: NV Gold receives NOI approval for its Triple T gold project in Nevada
"These are extremely exciting results based on my knowledge and experience of over 20 years of carlin trend exploration and targeting," Thomas Klein, NV Gold vice president of exploration said in a statement. “I have been involved in numerous soil sampling programs and mercury-vapor surveys over the last two decades and have not seen such a comprehensive and understandable geochemical anomaly for a long time.”
“The pure dimensions of the geochemical anomalies and their structural constraints are very impressive and their proximity to world-class gold deposits is compelling enough to enhance the SW Pipe gold project in NV Gold's exploration pipeline to a ‘must-be-drilled target.’"
The SW pipe project comprises 84 unpatented mining claims covering a sediment-hosted gold system 6 km southwest of the Pipeline gold mine (more than 20 million ounces of gold).
The company’s new target is an interpreted dilational zone at least half a kilometer wide and one kilometer long, the company said. Results from a recently completed Mercury-vapor survey covering the same soil sampling area are still pending.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
Follow him on Twitter @andrew_kessel