NV Gold Corporation announced an update on its active projects in Nevada, USA. Q4/Q1-2021/22 drill program at Slumber has currently completed ten reverse circulation drill holes totaling approximately 2012 meters. Two RC and two core holes remain to be drilled during the current program. Results have been received for the first five holes. These holes have encountered significant thicknesses of low-grade oxide gold mineralization, distributed over an area over 800+ meters by 300+ meters with thicknesses in excess of 100-150 meters. Most the holes bottomed in gold mineralization, depth-limited by ongoing equipment challenges and ground water. Slumber is now demonstrated to be a significant low-grade gold system, open in all directions, especially down-dip. Importantly, the current drilling program has confirmed the low-resistor zones from CSAMT work are indeed mineralized (Refer to press release on Sept. 7th, 2021). These low-resistor zones reflect hydrothermally brecciated and intensely silicified volcanics with consistent gold values. As reported previously, the Slumber mineralization is largely obscured by recent gravels, making surface sampling and mapping largely ineffective. Consequently, NVX has recently completed an IP/Resistivity and is undertaking Mercury-vapor and biochemistry surveys over the target area to assist in further target definition (stated Thomas Klein, VP Exploration, NV Gold). The Company has also performed a preliminary cyanide solubility test on ten, widely distributed drill intervals with very encouraging results demonstrating high initial recoveries (+95%). The balance of this drill campaign is now focused on testing the deeper parts of the Slumber system, further examining areas illuminated by the recent IP/Resistivity work. The current drilling further confirms the correlation of the alteration and mineralization to the low resistor zone identified by last year's CSAMT work. While this alteration appears promising for gold mineralization, values are expected to remain in the lower range as continue to improve definition of the gold system and sharpen the subsequent targeting of feeder zones. Further results from this program are expected to be received in late March or early April, again depending upon laboratory constraints related to COVID and staffing. The Company continues its focus on Nevada and the Great Basin, one of the largest and most productive gold provinces in the world. On a regional-scale, Nevada is thought by many to be a
thoroughly explored gold province. Much of the near surface gold that has been found over the past 40 years has already been mined or is being mined today. To find significant new deposits, the successful explorer needs to employ modern, more sensitive sampling and interpretive techniques and a willingness to take risks with the drill. The breadth of experience of staff and advisors gives its advantage. Over 50% of Nevada is covered by recent basin sediments or volcanic cover, which often obscures the classic, visible expressions of mineralization. These covered areas are composed of the same rocks with the same temporal placement as the gold deposits found in the nearby ranges. There is a strong likelihood that other, similar-sized deposits await discovery! Significant discovery potential continues to remain in one of the pre-eminent gold provinces on Earth. The Company has a strong property position with over 20 projects, ranging from Greenfields to advanced "pre-discovery". company property portfolio covers a number of geologic environments at varying levels of advancement. Holding costs for most of these properties are minimal, particularly those that are held as joint venture or lease-out possibilities. It is plan to drill 4-6 projects in the 12-18-month time horizon, providing a good news flow and multiple opportunities for success. look forward to a productive and successful exploration season ahead.