NV Gold Corporation announced today an update of completed work at its 100%-owned ATV Project located in Humboldt County, Nevada.
ATV Project Update
The Company's drilling program at its ATV property is continuing. This phase of the program is anticipated to continue into mid-late November. The drilling is being performed by Boart Longyear of Elko, Nevada.
Initial targets were developed through the use of gravity geophysical techniques and BLEG geochemistry. Due to the fact that the targets are obscured by a blanket of Tertiary volcanic rocks, this first stage of exploration seeks to determine the presence and depth of the Paleozoic-Tertiary contact, as well as to test for anomalous pathfinder elements such as As, Sb and Hg, particularly in the Paleozoic section. Anomalous pathfinder concentrations may be proximal to gold deposits. To date, the Tertiary-Paleozoic unconformity has been reached in all but one hole, which was terminated short of its target due to difficult drilling conditions. The contact has varied in depth from 200-260 meters and has now been measured over a significant area of 10+ square kilometers.
Drilling locations are mostly widely-spaced, both on the western flank of the Snowstorm Range and in the valley immediately to the west. Over half the planned RC holes have been completed, totaling over 2,700 meters. Due to late-season lab turnaround times, most of the assay results from the completed holes are still pending. The Company is planning an additional 5-7 RC holes and is considering deepening certain of the holes with diamond core. Complete assay results are expected by mid-December.
John E. Watson, President and CEO of NVX stated "Significant progress has been made at the ATV Project and work is continuing to move ahead. We have completed drilling on 9 of a planned 15 holes and are encouraged by the observations already made regarding the structure and geochemistry."