NV Gold Announces Exploration Target at its SW Pipe Gold Project of up to ~70,000 Near Surface Oxide Gold Ounces
VANCOUVER, BC / ACCESSWIRE / June 7, 2023 / NV Gold Corporation (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) ("NV Gold" or the "Company") is pleased to provide an exploration update for the Company's 100%-owned SW Pipe Gold Project ("SW Pipe") located in Lander …
VANCOUVER, BC / ACCESSWIRE / June 7, 2023 / NV Gold Corporation (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) ("NV Gold" or the "Company") is pleased to provide an exploration update for the Company's 100%-owned SW Pipe Gold Project ("SW Pipe") located in Lander County, approximately 6 km (3.7 miles) southwest of the Pipeline Gold Mine in the central Cortez gold belt of north-central Nevada (see Figure 1). The environmental update has identified an estimated exploration target (the "Exploration Target") of 35,000 - 70,000 oxide ounces of gold (see Table 1).
Table 1: Exploration Target potential grades and tonnages, with the potential tonnage and grade using a maximum and minimum of 20% increase/decrease to allow for uncertainty.
SW Pipe Exploration Target |
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Project |
Metric million Tonnage Range |
Au ppm Range |
Au Oz Range |
SW Pipe |
5-6 |
0.25-0.41 |
35k - 70k |
Exploration Target Summary:
NV Gold's SW Pipe project is about 6 km (3.7 miles) southwest of the Pipeline/Gold Acres/Robertson Battle Mountain-Cortez Trend complex. The SW Pipe project has near surface oxide gold mineralization hosted in sandstone, chert, shaly siltstone, greenstone, and slate rock types. Past reports describe these rocks as presumed to be a part of the western facies associated with the Roberts Mountain Thrust.
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There have been at least 7 historical drilling programs, resulting in 49 reverse circulation drill holes available for use in modeling. Based on drill holes with Au assay values available, there is not presently sufficient drilling density to calculate an Inferred Resource. The data currently available does provide an exploration target that contains between 5 and 6 million tons, with grades ranging from 0.25 to 0.40 g/t. The target has been developed on 2d sections 70 meters apart, using the mean grade of each intercept, and a range of +/- 25 percent. Density values ranged from 2.45 g/cm3 to 2.55 g/cm3, though at the nearby Battle Mountain trend gold deposits, values mentioned can range from 1.27 g/cm3 to 3.45 g/cm3. This exploration target contains 26 mineralized zones at least 3 meters downhole, in a zone at least 1.3km in a northwest-southeast trend, and 0.6km wide.