NV Gold Announces Exploration Target at its Slumber Gold Project of up to ~450,000 Gold Ounces

About this update from Nv Gold Corporation

[{"type":"text","content":"NV Gold Announces Exploration Target at its Slumber Gold Project of up to ~450,000 Gold OuncesVANCOUVER, BC / ACCESSWIRE / March 21, 2023 / NV Gold Corporation (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) (\"NV Gold\" or the \"Company\") is pleased to provide a technical update for the Company's 100%-owned Slumber Gold Project (\"Slumber\") located 80 kilometers (50 miles) northwest of Winnemucca, and 37 kilometers (23 miles) west of the Sleeper gold deposit, in Humboldt County, Nevada (see Figure 1). The technical update has identified an estimated exploration target (the \"Exploration Target\") of 150,000 - 450,000 ounces of gold (see Table 1).Table 1: Exploration Target potential grades and tonnages, with the potential tonnage and grade using a maximum and minimum of 20% increase/decrease to allow for uncertainty.Slumber Exploration Target(1)ProjectMetric million Tonnage RangeAu ppm RangeAu Ounces RangeSlumber Au35-500.15-0.31150k - 450k(1) The potential quantity and grade are conceptual in nature. There has not been sufficient exploration drilling to estimate a Mineral Resource, and it is uncertain if further exploration will result in the estimation of a Mineral Resource.Exploration Target Summary:Like nearby epithermal volcanic hosted gold deposits, such as the Sleeper mine (37 kilometers east-northeast) and the Sandman resource (45 kilometers southeast), gold occurs in rhyolitic to rhyodacitic tuffs, breccias, and other volcanic rocks. Alteration consists of silicification, veining, and argillization. Nearly all the mineralization is oxidized. Drilling to-date suggests zones of mineralization can occur in both sub-horizontal stratigraphically hosted deposition, as well as sub-vertical, structurally controlled deposition.There have been 29 reverse circulation drill holes by NV Gold from 2019 to 2022 and 6 reverse circulation drill holes by Amax Gold Inc. (\"Amax Gold\") in 1988, both of which were combined for this analysis. Based on the data from both drilling periods, there is not presently sufficient drilling density to calculate an Inferred Resource (as defined in National Instrument 43-101 - Standard for Disclosure for Mineral Projects (\"NI 43-101\")). An Exploration Target is an identified zone or zones of mineralized rock that potentially could be subsequently converted to a NI 43-101 compliant Inferred Resource with at least ...

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