NV Gold Corporation (CVE:$NVX) (OTCQX:$NVGLF) has just recently announced its land position has increased at its ATV Project for which the company already has full ownership. NV Gold now has 417 lode mining claims, which is about 34 square kilometers of mineral rights. The area covers a good amount of land near Newmont Mining Corporation’s Twin Creeks mine in northwest Nevada.
Currently, valley gravels covers the entire western portion of the ATV project, while volcanic rocks cover the eastern portion. With gravity data and structural modeling done by NV Gold, Paleozoic sediments are very likely to exist at shallow depths beneath both western and eastern portions. This means the probability for gold is highly likely, as drilling that had been done northwest of the ATV project property by Evolving Gold Corp (TSE:$EVG) in 2011 showed that Paleozoic sedimentary rocks can lie as close as 100 meters within the surface, with intersected gold mineralization below 200 meters from surface.
As such, NV Gold is now planning a 2,500-meter drill program at ATV starting late June/early July, with Notices of Intent with the Bureau of Land Management already filed. 12 to 18 RC holes, with depths from 100 to 300 meters are expected to be drilled by late July/early August. The results of the drilling will no doubt be highly anticipated by those in gold investment as well as gold investment companies.
The project is high-risk, admits John Watson, CEO of NV Gold, but it has the potential to reap a high reward while using a new geologic model. The project’s proximity to several already-existing mines with productions and/or resources that have totaled almost 60 million ounces of gold has formed the conceptual basis of the project, as well as confidence.
Quinton Hennigh (Ph.D., P.Geo.) is a Qualified Person acting in accordance to National Instrument 43-101 and has reviewed as well as approved all technical information in this news release. It should be noted that Dr. Hennigh is a director of NV Gold as well as the President, CEO, and director of Novo Resources Corp (CNZX:$NVO), and is not independent.
Featured Image: nvgoldcorp
