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NevGold Intercepts 0.80 g/t Au Over 51.5 Meters From Surface Including 1.40 g/t Au Over 11.3 Meters From 10 Meters Depth, And Announces Plans To Update The Mineral Resource Estimate At Nutmeg Mountain
Vancouver, British Columbia, June 22, 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, June 22, 2023 (GLOBE NEWSWIRE) -- NevGold Corp. (“NevGold” or the “Company”) (TSXV:NAU) (OTCQX:NAUFF) (Frankfurt:5E50) is pleased to announce further oxide, gold results intercepted from surface at the Nutmeg Mountain gold project (the “Project”, “Nutmeg Mountain”) in Idaho. The Project hosts a 2020 historical 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). A Nevgold Qualified Person has not done sufficient work to classify this historical resource estimate as current mineral resources, and NevGold is not treating the estimate as current mineral resources or mineral reserves. The Company also announces that it is well-advanced on completing a current Mineral Resource Estimate (“MRE”) at Nutmeg Mountain with targeted completion in early July. Key Highlights More Gold Intercepted from Surface That Suggests The Project Will Be Amenable To Heap Leach Processing: the Company intercepted 0.80 g/t Au over 51.5 meters from Surface (oxide), including 1.40 g/t Au over 11.3 meters from 9.8 meters depth (oxide) (Hole NMD0004). Assays are pending for the remaining approximate 130 meters of this hole. Metallurgical Testwork Has Commenced: Hole NMD0004 was drilled to commence metallurgical testwork at the Project. The Company has engaged McClelland Laboratories out of Sparks, Nevada. The focus of the metallurgical testwork is to evaluate optimization opportunities related to grinding, comminution, and recovery methods. Building Large, Near Surface, Mineralized Footprint: other drill results released from the 2023 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). Current Drill Program Update: the orientated core drilling portion of the drill program is now complete, and the program will shift to Reverse Circulation (“RC”) drilling. Advancing Mineral Resource Estimate: the Company is well-advanced in completing a current MRE at th...