NV Gold Corporation (TSXV:NVX) has shared an encouraging exploration update. The update is about their wholly-owned SW Pipe Gold Project (“SW Pipe”), nestled in Lander County, situated about 6 km or 3.7 miles southwest of the prolific Pipeline Gold Mine in the heart of the Cortez gold belt in north-central Nevada.
Thomas Klein, VP Exploration, commented in a press release: “I am excited by the outcome of this new technical update (“Exploration Target”) and the potential ounces modeled by Mr. Jesse D. Wellman. NV Gold has successfully delineated a substantial near surface, oxide gold system at its SW Pipe property in Lander County, Nevada. This area of gold mineralization can be interpreted as possible “leakage” from a larger target at depth, emplaced through structural conduits. Given the favorable setting proximal to several large gold deposits, the modest deposit is further support for deeper exploration.”
The exploration update projected an exploration target containing between 35,000 and 70,000 oxide ounces of gold. This treasure is buried within the SW Pipe project, which enjoys a geographical advantage of proximity to the Pipeline/Gold Acres/Robertson Battle Mountain-Cortez Trend complex.
In the SW Pipe project, surface oxide gold mineralization is harbored within diverse rock types like sandstone, chert, shaly siltstone, greenstone, and slate. These rock formations are believed to be a part of the western facies linked with the Roberts Mountain Thrust.
The SW Pipe project boasts a rich exploration history with at least 7 distinct drilling programs conducted. These efforts have generated 49 reverse circulation drill holes, which now serve as valuable data for modeling. While the drill holes data do not provide enough density to calculate an Inferred Resource, it does offer an exploration target that includes between 5 and 6 million tons. The grade of this resource varies from 0.25 to 0.40 g/t. This target was meticulously developed using 2d sections placed 70 meters apart, considering the mean grade of each intercept, with a variance of +/- 25 percent. Notably, density values lie between 2.45 g/cm3 and 2.55 g/cm3.
The SW Pipe exploration target features 26 mineralized zones, each extending at least 3 meters downhole. It stretches at least 1.3km in a northwest-southeast trend and has a breadth of 0.6km.
The most recent update from NV Gold, dated May 10, 2023, reported the commencement of drilling at the SW Pipe site. However, the works faced rough terrains, leading to the termination of the initial hole in favor of resource conservation. The company swiftly responded to the situation by repositioning the drill rig to its promising Triple T Gold Project.