NV Gold Corporation is pleased to announce it has increased its land position at its 100% owned ATV Project, through staking, to 417 lode mining claims, approximately 34 sq km of mineral rights covering a strategic area near Newmont Mining Corporation’s Twin Creeks mine in northwest Nevada.
The ATV project is entirely covered by valley gravels on the western portion of the project and a veneer of volcanic rocks on the eastern portion. Interpretation of gravity data and structural modeling by NV Gold suggests that Paleozoic sediments are likely present at shallow depths beneath both areas. Previous drilling immediately northwest of the property by Evolving Gold Corp in 2011 determined favorable Paleozoic sedimentary rocks lie as close as 100 meters within surface and intersected gold mineralization at depths below 200 meters.
NVX is planning a 2,500-metre drill program at ATV, beginning in late June or early July. The Company has filed Notices of Intent with the Bureau of Land Management for the program. The drilling will be focused on several gravity highs that were delineated by its recently-completed gravity survey of the areas.
The program is scheduled to drill 12-18 RC holes with depths ranging from 100 to 300 meters. The program is expected to be complete in late July or early August.
John Watson, NVX’s CEO states “The ATV Project is a high-risk, but potentially high-reward gold play employing a new geologic model. The proximity to several existing mines with historic production or resources totaling nearly 60 million ounces of gold forms the conceptual basis when combined with the structural extensional dynamics of the area.”
Quinton Hennigh (Ph.D., P.Geo.) is a Qualified Person pursuant to National Instrument 43-101 and has reviewed and approved the technical information contained in this news release. Dr. Hennigh is a director of NV Gold and is not independent and is also the President, CEO and a Director of Novo Resources Corp.