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NevGold Provides Positive Update On Limousine Butte: New Geological Model Identifies High Priority 2023 Drill Targets
Vancouver, British Columbia, July 06, 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, July 06, 2023 (GLOBE NEWSWIRE) -- NevGold Corp. (“NevGold” or the “Company”) (TSXV:NAU) (OTCQX:NAUFF) (Frankfurt:5E50) is pleased to announce the completion of an updated geological model and 2023 drill targeting at its Limousine Butte Project, Nevada (the “Project”) located on the southern part of the Carlin Trend. The Company is also well-advanced in completing an updated NI 43-101 Technical Report for the Project, with targeted completion in July. Key Highlights Updated Geological Model Identifies Significant Mineralization Potential and New High Priority Targets: the updated geologic model for the Project has been completed incorporating new project-wide mapping and 2022 drill data. The Company has re-interpreted the district-scale and project-specific geology and has identified significant mineralization potential and numerous high priority drill targets for the 2023 drill program. Resurrection Ridge: the updated geological model indicates additional potential for the key host rock (Pilot Shale), particularly to the north and east of the currently defined mineralized footprint at Resurrection Ridge. (Figure 1, Figure 2) Cadillac Valley: the 2022 drilling at Cadillac Valley South indicates the mineralization remains open, specifically to the south and east. The Company inherited CSAMT data from McEwen Mining (TSX:MUX, NYSE:MUX) which was a key data layer utilized in the 2022 discovery at Cadillac Valley. (Figure 1, Figure 3) Additional Targets Identified: West Cadillac and Coffee Mug (Northeast Exploration area) have been identified as areas with strong potential for the key Pilot Shale host rock. The Company plans to drill both target areas in future drill programs. (Figure 1) Exploration Plan of Operations (“EPO”) Tracking According to Schedule: the EPO was submitted to the Bureau of Land Management (“BLM”) on February 8, 2023 (see News Release on February 14, 2023) and the review process is tracking according to schedule. Once approved, the EPO will allow up to 200 acres of disturbance which will permit more extensive future drill programs at the Project. Updated Technical Report: the Company is well-advanced in completing an updated NI 43-101 Technical Report (the “Report”) at Limousine Butte. Targeted completion for the Report is July. NevGold CEO, Brandon Bonifacio, comments: “Although we ...