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NV Gold Announces Letter of Intent to Acquire Slumber Gold Property in Nevada
VANCOUVER, BC / ACCESSWIRE / May 30, 2019 / NV Gold Corporation (TSXV: NVX; US: NVGLF) (...
About this update from Nv Gold Corporation
[{"type":"text","content":"NV Gold Announces Letter of Intent to Acquire Slumber Gold Property in NevadaVANCOUVER, BC / ACCESSWIRE / May 30, 2019 / NV Gold Corporation (TSXV: NVX; US: NVGLF) (\"NV Gold\" or the \"Company\") is pleased to announce that it has executed a binding letter of intent (the \"LOI\") with Tim Percival and Darryl Killian (\"the Vendors\"), providing NV Gold the right to enter into a Lease Agreement to lease an undivided 100% right, title and interest in the Slumber Gold Property in Nevada (\"Slumber\"). The LOI may be subject to TSX Venture Exchange approval, and the transaction is an arms-length Transaction.\"The LOI to acquire the Slumber Gold Property is part of our ongoing exploration and acquisition strategy focused in Nevada, and we expect to be onsite in the next couple weeks to initiate a preliminary exploration program. In addition, our spring field technical visit at our Frazier Dome Gold Project is complete, and we are finalizing our upcoming drilling plans for the summer. We are also currently reviewing a secondary project for a potential drill program, pending review by our technical team,\" commented Peter A. Ball, NV Gold's President. \"We continue to review other quality properties in the mining-friendly jurisdiction of Nevada, and we will look to potentially add further projects as we extract new projects from our extensive Nevada geological databases. It will be a busy summer for our exploration team!\" Slumber Gold Project Review The Slumber Gold Project occurs along an intra-mountain graben in the Jackson Mountains approximately 50 miles northwest of Winnemucca, Humboldt County, Nevada and is approximately 21 miles west of the Sleeper bonanza epithermal vein gold deposit. Slumber is one of several high-level epithermal gold systems on a trend from the Jackson Mountains, through the Bilk Creek Mountains and continuing north into Oregon. These deposits, along with the Sleeper, Sulphur-Hycroft, Goldbanks, Blue Mountain, Sandman, and other precious metals deposits located along the western splays and associated fault-fracture zones of the mid-Miocene (Tertiary) Northern Nevada Rift, define an important epithermal province in northwestern Nevada. Important geologic features observed at Slumber include: Hydrothermal alteration, principally in the form of silicification, associated with widespread gold mineralization th...