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NevGold Identifies +6 Meter Wide Undrilled Outcropping Vein and Finds Visible Gold in Historical Core at Nutmeg Mountain
Vancouver, British Columbia, Sept. 08, 2022 (GLOBE NEWSWIRE) -- NevGold Corp. (“NevGold” or the “Company”) (TSXV:NAU) (OTCQX:NAUFF) (Frankfurt:5E50) is pleased
About this update from Nevgold Corp
[{"type":"text","content":" Vancouver, British Columbia, Sept. 08, 2022 (GLOBE NEWSWIRE) -- NevGold Corp. (“NevGold” or the “Company”) (TSXV:NAU) (OTCQX:NAUFF) (Frankfurt:5E50) is pleased to announce it has identified an undrilled +6 meter wide banded low-sulphidation epithermal vein outcropping at surface over 650 meters away from the main resource body at the Nutmeg Mountain Project in Idaho. (See Note 1: historical 2020 mineral resource estimate of 910,000 Indicated ounces of gold (43.5 Mt @ 0.65 g/t Au), and 160,000 Inferred ounces of gold (9.1 Mt @ 0.56 g/t Au)) The Company also identified visible gold in previously assayed historical core during a detailed core relogging campaign completed since the transaction closed on July 5, 2022. The core relogging and surface mapping campaign is now complete, and the project has been advanced to the drill-ready stage by identifying multiple resource expansion and exploration targets. Key Highlights Untapped Lateral Resource Expansion Potential: identification of a large epithermal vein outcropping at surface with no historical drilling over 650 meters south of the main 2020 resource at Nutmeg Mountain (Figure 1) opens meaningful lateral resource expansion potential and could be the high-level portion of a high-grade feeder zone. The outcropping vein has a width of over 6 meters and over 100 meters of exposed strike length with no historical drilling. Geochemical and textural signatures indicate it is near the top of the epithermal system, above the expected gold-silver zone. (Figure 2) High Grade Opportunity: the Company has identified a large, structurally controlled, high-grade core in the 2020 resource. Most of the historical drilling completed at the project has been vertical and the extents of the higher-grade portions of the orebody have not been fully tested at depth or along strike. This is an immediate opportunity to increase the size and grade of the resource. Visible gold was observed in historically drilled core starting at 45.4 meters depth. (Figure 3) Phase 1 Core Relogging and Surface Mapping Completed, Project is Drill-Ready: the Company has diligently completed an initial geological mapping and relogging program focused on the historical work completed on the project. There are many untapped opportunities identified, which will be the focus of the initial program at the project. NevGold CEO, B...