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NevGold Extends Mineralization to 0.74 g/t Au Over 66.8 Meters From Surface, Including 1.40 g/t Au Over 11.3 Meters From 10 Meters Depth At Nutmeg Mountain
Vancouver, British Columbia, Nov. 30, 2023 (GLOBE NEWSWIRE) -- NevGold Corp. (“NevGold” or the “Company”) (TSXV:NAU) (OTCQX:NAUFF) (Frankfurt:5E50) is pleased t
About this update from Nevgold Corp
[{"type":"text","content":" Vancouver, British Columbia, Nov. 30, 2023 (GLOBE NEWSWIRE) -- NevGold Corp. (“NevGold” or the “Company”) (TSXV:NAU) (OTCQX:NAUFF) (Frankfurt:5E50) is pleased to announce further oxide, gold drill results for drillhole NMD0004 which intercepted mineralization from surface at the Nutmeg Mountain project (the “Project”, “Nutmeg Mountain”) in Washington County, Idaho. The Project has a 2023 Mineral Resource Estimate (“MRE”) of 1,007,000 Indicated ounces of gold (51.7 Mt @ 0.61 g/t Au), and 275,000 Inferred ounces of gold (17.9 Mt @ 0.48 g/t Au) (see Note 1). Key Highlights Gold Intercepted From Surface That Suggests The Project Will Be Amenable To Heap Leach Processing: final assays indicate hole NMD0004 intercepted a total of 0.74 g/t Au over 66.8 meters from Surface (oxide), including 1.40 g/t Au over 11.3 meters from 9.8 meters depth (oxide) (partial assays were released from this hole on June 22, 2023). The new assays included screen fire assays which show strong correlation with the original assays and indicate significant coarse gold is not present, suggesting the project will be amenable to heap leaching. Positive, Phase I Drilling Program: other drill results released from the 2023 Phase I drill program include 0.72 g/t Au over 79.3 meters from 10.4 meters depth (oxide), including 2.32 g/t Au over 13.4 meters from 25.6 meters depth (oxide) (Hole NMD0003), and 0.56 g/t Au over 23.9 meters from 24.1 meters depth, including 0.89 g/t Au over 11.4 meters from 25.6 meters depth with 4.33 g/t Au intercepted near the bottom of the hole (Hole NMD0001, hole was lost in mineralization) (See news release from April 13, 2023). Metallurgical Testwork To Commence With Hole NMD0004: the Company has engaged McClelland Laboratories out of Sparks, Nevada and has delivered samples for NMD0004 for metallurgical testwork. Recent Washington County, Idaho District Activity: with the recent copper porphyry discovery made by Hercules Silver Corp. (“Hercules”, TSXV:BIG, News Release Link) and strategic investment of approximately C$23 million into Hercules by Barrick Gold Corp. (TSX:ABX, NYSE:GOLD, News Release Link), there has been an increased level of activity in Washington County in Western Idaho. (see Figure 4) The Company has a strong position in this emerging precious and base metals district with Nutmeg Mountain and will continue to advance ...