NV Gold Corporation (TSX-V:NVX, OTC:NVGLF) CEO John Seaberg told investors that the company had made “significant progress” on its 2022 exploration goals and objectives.
“Our boots-on-the-ground approach to collecting the necessary data to identify our highest priority targets is bearing fruit,” Seaberg said in a corporate update.
“We are now well positioned to continue our exploration efforts in 2023 to unlock Nevada’s next multi-million-ounce gold discovery,” he added.
READ: NV Gold identifies five new mercury vapor anomalies at Slumber gold project in Nevada
SW Pipe Gold project
The company said it has recently conducted an extensive soil sampling program and completed a mercury vapor survey on its SW Pipe gold project in Lander County around six kilometers (km) southwest of the world-class Pipeline gold mine in the central Cortez gold belt of north-central Nevada. The property, comprising 84 unpatented mining claims, is fully owned by NV Gold.
Modeling of 567 new soil samples shows a large zone of overlapping Carlin-type geochemical anomalies highlighting a new target area in a previously untested central-western portion of the property.
The new target is an interpreted Dilational zone, a perfect fluid pathway for gold mineralization, and therefore a prime target location to discover the next multi-million-ounce gold deposit, according to the company.
NV is waiting for the completion of mercury vapor analyses and planning to drill-test established soil targets.
Triple T Gold project
The Triple T Gold project is located in the Humboldt Range 9 km east of the Rochester silver-gold operation and 42 km southeast of the Florida Canyon gold mine.
Triple T gives NV the opportunity to delineate additional near-surface, oxide-gold ounces by evaluating and following up on gold grades up to 11.7 grams per ton (g/t) gold (Au) from rock chip sampling and open drill intercepts of 16.8 meters at 1.345 g/t Au.
In terms of the next steps, NV is preparing new drill sites to kick off drilling in 1Q 2023.
Slumber Gold project
The Slumber Gold Project is 80.5 km northwest of Winnemucca, and close to the Sleeper Gold Deposit in Humboldt County, Nevada. NV conducted a Phase 3 drilling campaign and completed 12 RC holes totaling 2,350 meters by the end of 1Q 2022.
A recent mercury vapor survey has identified five new zones (A-E) with the potential for concealed gold mineralization under gravel cover.
NV said it will follow up on increasing gold grades of 1.5 g/t intercepted in one of the firm’s last RC holes (SL-27) and drill-evaluate some of the higher mercury vapor anomalies in the northern and northeastern extent of the property.
Investors can find an update on the company’s Nevada-located Sandy Gold project, Discovery Bay Gold project, and Pickhandle project here.
“I am excited about the results NV Gold has achieved since our drilling campaign started in late-October 2021. The company drilled four of our active projects (Slumber, Discovery Bay, Pickhandle, and Sandy) and completed an extensive soil sampling and mercury vapor program at SW Pipe and at Slumber,” said Thomas Klein, who is the VP of Exploration, at NV Gold.
“The geochemical results and interpretations, which have delineated five more drill targets at Slumber and identified an outstanding new Carlin-type anomaly at our SW Pipe project, are more than encouraging. Doing our homework right and spending investors’ money most efficiently is the key to success.”
Klein noted that having the Goldspot (TSX-V:SPOT) (AI) targets, the Triple T, and other exploration pipeline projects is a “fundamental advantage” for NV Gold to “make the next multi-million-ounce discovery in Nevada.”
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
Follow her on Twitter: @UttaraProactive