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Nevgold Increases Land Holdings at Cedar Wash by over 100% Via Claim Staking An Additional 4,839 Acres
VANCOUVER, British Columbia, Sept. 08, 2021 (GLOBE NEWSWIRE) -- NevGold (“NevGold” or the “Company”) (TSXV:NAU) (OTC: NAUFF) (Frankfurt: 5E50) is pleased to ann
About this update from Nevgold Corp
[{"type":"text","content":" VANCOUVER, British Columbia, Sept. 08, 2021 (GLOBE NEWSWIRE) -- NevGold (“NevGold” or the “Company”) (TSXV:NAU) (OTC: NAUFF) (Frankfurt: 5E50) is pleased to announce that it has increased its land position at the Cedar Wash project in Nevada by 4,839 acres, or over 100%, to 9,648 acres (39 square kilometers) through low-cost, organic claim staking. These new claims are contiguous to the south of the existing claims as seen in Figure 1. The expanded land position incorporates all prospective gold-silver targets identified in the Cedar Wash district. Figure 1 – Previous and Expanded Land Position at Cedar Wash, Nevada Key Highlights Property Size Increased Substantially: The Cedar Wash project more than doubled to 9,648 acres or 39.0 square kilometers, compared to the previous 4,809 acres or 19.5 square kilometers. Positive Surface Mapping, Sampling, and Shallow Drill Data in the New Claims: As seen in Figure 1, the newly staked area to the south had historical surface mapping, soil and rock chip sampling, and shallow drilling completed in prior years providing an existing geological database to leverage. Historical results included surface sampling of up to 2.1 g/t Au in a number of areas. Previous shallow air-track and RC drilling, all historically completed by McEwen Mining Inc. (“McEwen Mining”), encountered gold mineralization in multiple holes including: 6.1 meters of 1.06 g/t Au, within 17.1 meters of 0.62 g/t Au; and 7.6 meters of 0.90 g/t Au, within 10.7 meters of 0.75 g/t Au. The mineralization was intersected at or near surface. Underexplored Area of Nevada: The Southeast part of Nevada is underexplored compared to the other parts of the State. Cedar Wash offers significant exploration upside and has many geological similarities to Liberty Gold’s Goldstrike Project, which is 15 kilometers to the east in Utah and has a greater than 1 million ounce gold resource. Highly Prospective Ground: Past geological and geochemical analysis has yielded positive results, and other historical drilling completed by McEwen Mining within the large, consolidated land package includes 10.7 meters of 2.0 g/t Au, 16.0 meters of 1.36 g/t Au, and 16.7 meters of 1.0 g/t Au, all at or near surface. Derick Unger, Chief Geologist, stated: “We continue to be positively surprised with Cedar Wash as we work through the historical database compiled b...