NV Gold Identifies New Near-Surface Gold Mineralizing System at Slumber; High-Grade Targets Remain Untested at Depth

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[{"type":"text","content":"NV Gold Identifies New Near-Surface Gold Mineralizing System at Slumber; High-Grade Targets Remain Untested at DepthVANCOUVER, BC / ACCESSWIRE / May 20, 2021 / NV Gold Corporation (TSXV:NVX)(OTCQB:NVGLF) (\"NV Gold\" or the \"Company\") has received all assays of the Phase 2 drill program at its 100% controlled Slumber Gold Project (\"Slumber\") located approximately 50 miles northwest of Winnemucca, Humboldt County, Nevada, USA. The drill program was comprised of 9 reverse circulation (\"RC\") drill holes, totaling 1,859 m (6,100 ft).Key Highlights from Phase 2 Drill Program at Slumber Gold ProjectDrilling has outlined a new 600 meter-wide mineralized oxide gold zone close to surface with notable drill intercepts, including a very encouraging 18.3 m @ 0.52 g/t Au beginning at 48.7 m in Hole SL-11, and hosted in an oxidized and silicified rhyolite which correlates with a resistive blanket as seen in CSAMT data (please refer to Figure 1). Another hole, SL-14, intersected 134.2m @ 0.14 g/t Au starting from surface.The near surface oxidized gold intersection is of signficance noting Argonaut Gold (U.S.) Corp.'s Florida Canyon Gold Mine, down the highway from Slumber, is in operation with reserves grading 0.43 g/t Au.This newly discovered zone is separate from that discovered during the 2019 drill program, and will be prioritized for follow up work in 2021.Recent stream sediment and rock chip sampling has identified two additional parallel structures which remain untested.The source of the mineralized resistive blanket is believed to be higher grade feeder structures at depth.As previously reported, due to unexpected high volumes of ground water, priority targets in drill holes SL-9, SL-10, SL-13, SL-14, SL-15 and SL-16 were not adequately tested, due to the holes being terminated short of planned depth (refer to Figure 2 below).The primary CSAMT-interpreted targets, where NV Gold was targeting a potential \"Sleeper-type\" gold system at Slumber, remain untested.\"It is exciting to discover a new near surface oxide gold zone at Slumber. Hole SL-11, intersected 18.3m grading 0.52 g/t Au in silicified rhyolite. To follow up, NV Gold will be initiating its new field season at Slumber with additional detailed mapping and execution of a new soil sampling grid to assist in delineating this newly discovered near-surface oxide gold zone. St...

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