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NevGold Intercepts 0.72 g/t Au Over 79.3 Meters From 10 Meters Depth Including 2.32 g/t Au Over 13.4 Meters From 26 Meters Depth At Nutmeg Mountain
Vancouver, British Columbia, April 13, 2023 (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, April 13, 2023 (GLOBE NEWSWIRE) -- NevGold Corp. (“NevGold” or the “Company”) (TSXV:NAU) (OTCQX:NAUFF) (Frankfurt:5E50) is pleased to announce high-grade, heap-leach gold results intercepted from surface at the Nutmeg Mountain gold project (the “Project”, “Nutmeg Mountain”) in Idaho. The Project hosts a 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) (see Note 1). The initial drill results highlight the potential grade upside and growth potential for the resource which begins at surface and requires minimal stripping. The drill program is advancing on schedule and on budget, and drill results will be continuously released over the coming months. News Release Video: NevGold completed a short video to explain the drill results which can be seen below: YouTubeTap to unmuteVideo unavailableThis video is unavailable Key Highlights High-Grade, Heap-Leachable Gold Intercepted from Surface: the Company intercepted 0.72 g/t Au over 79.3 meters from 10.4 meters depth (heap-leachable), including 2.32 g/t Au over 13.4 meters from 25.6 meters depth (heap-leachable) (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). The mineralization starts at surface with minimal stripping required, and exhibits positive, heap-leach characteristics with both free gold and oxidized material. (Figure 1) High-Grade Potential at Depth: Hole NMD0003 intercepted multiple, large, vein/breccia zones at 251 meters and 469 meters depth, with assays pending, in an entirely untested area of the Project. (Figure 1, Figure 4, Figure 5) The average historical hole depth at the Project is only 75 meters, and the Company sees significant resource expansion potential at depth. Hole NMD0003 intercepted a material structure that will require follow up drilling as the quartz textures seen in the core indicate a potential high-grade feeder structure is present at depth. Open, Near-Surface Mineralization Along Strike: a large step-out 140 meters from the nearest drill collar intercepted significant anomalous mineralization starting at 4.6 meters depth and extendi...