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NevGold Intercepts 2.13 g/t Oxide Au Over 58.2 Meters, Including 12.32 g/t Oxide Au Over 5.9 Meters At The Cadillac Valley Target Area At Limousine Butte
Vancouver, British Columbia, March 08, 2022 (GLOBE NEWSWIRE) -- NevGold Corp. (“NevGold” or the “Company”) (TSXV:NAU) (OTCQB:NAUFF) (Frankfurt:5E50) is pleased
About this update from Nevgold Corp
[{"type":"text","content":" Vancouver, British Columbia, March 08, 2022 (GLOBE NEWSWIRE) -- NevGold Corp. (“NevGold” or the “Company”) (TSXV:NAU) (OTCQB:NAUFF) (Frankfurt:5E50) is pleased to announce the initial portion of assays from the Company’s first drill hole (CV22-001) at the Cadillac Valley target area at its Limousine Butte Project, Nevada (the “Project”) located on the southern part of the Carlin Trend. Further assays from the Company’s inaugural 10,000 meter drill program are expected continuously from both the Resurrection Ridge and Cadillac Valley target areas (Figure 4) for the remainder of the first half of 2022. Key Highlights Building a High-Grade, Oxide Gold Resource: after the addition of a second drill rig at the Project in January 2022, drilling commenced on the highly prospective Cadillac Valley target area. The first assays received on CV22-001 include 2.13 g/t oxide Au over 58.2 meters including 12.32 g/t oxide Au over 5.9 meters. Further drill holes have been sent to the lab and assays are pending. Open Mineralization: the initial assays released are from the first portion of the hole received from the assay lab down to 277.6 meters depth. Assays are pending for the section from 277.7 meters to 403.6 meters depth. Highly Oxidized Mineralization: assay results from CV22-001 at Cadillac Valley reported oxidized mineralization throughout the hole. (Figure 3) Unlocking the District – New Potential Resource Area at Cadillac Valley: Cadillac Valley is a high-quality target that will have approximately 3,500 meters of the current 10,000 meter drill program. The Company is targeting a near-term resource estimate at Cadillac Valley after the current drill program is completed. There are several target areas around Cadillac Valley that will be drill-tested in the current program. NevGold CEO, Brandon Bonifacio, comments: “Building on the initial assays from our Resurrection Ridge target area released on February 8, the first hole at Cadillac Valley has drilled an important, highly prospective target zone at Limousine Butte. It is very exciting to see another thick intercept of multi-gram oxide gold material at a location that is over 2 km from Resurrection Ridge. We believe that the mineralized horizon may extend between these two areas of the project, and it is very promising to see results aligning with our geological model of the distric...