In the world of junior mining exploration, low cost of entry and acquisition is always an eyebrow raiser for savvy metals & mining investors. But what really keeps the attention of shareholders and investors alike is the high-grade quality of the results from the properties they’re exploring. And a Vancouver-based junior miner is finding some eye-popping rock sampling gold results (up to 23.2 g/t Au) from trenching at the recently optioned Exodus Gold Project located in the historic Cariboo Mining Division, just north of Prince George, British Columbia.
NV Gold Corp. (NVX) (
TSX-V.NVX,
OTC: NVGLF,
Forum), an established Nevada junior gold exploration company with an industry recognized technical team and an extensive portfolio of gold properties spread across North America and Europe, believes they’ve found something special at the Exodus Gold Project in North-Central B.C. Early results and work by the private vendors over the past three years indicate a significant potential for what could be one of BC’s “
most interesting new high-grade gold discoveries.”
QuickFacts on NV Gold Corp.:
- Shares Outstanding: ~ 55M (~20% management / insiders, ~30% funds, ~20% Corporate)
- Market Cap: ~CDN$19M, ~350% return past 3 months ($0.09 to $0.41)
- Average Daily Volume (previous 10 days): 408,000 shares Canada, 118,000 USA
- Largest Shareholders: Chairman – John E. Watson, Eric Sprott, Redstar Gold Corp, CEO – Peter A. Ball, GoldSpot Discoveries Corp., Bob Moriarty, US and European Institutions.
- No Warrant Overhang, and $1.8 million of $0.20 warrants well in the money, ~$1 million cash in treasury, low burn rate, no debt.
- Last two Stock Option Packages to Management team was done at 50% and 25% premium to the market price.
- 100% control of its 16 gold projects in Nevada and Europe.
Leveraging its highly experienced in-house technical knowledge, the Company’s distinguished technical team is set to begin work this summer, including Dr. Quinton Hennigh and Dr. Odin Christensen (former Chief Geologist Global Exploration Newmont) – geologists with decades of experience in the mineral exploration and mining industry, specifically in high-quality gold exploration projects.
The 2020 exploration plan at Exodus encompasses “
detailed mapping, soil sampling, structural modeling, project wide geophysics, structural modeling with the aim of developing a fall diamond drilling campaign to test priority targets.” Summer work will also include environmental and cultural studies.
President & CEO, Peter A. Ball, commented:
"Our technical team continues to be presented with high quality gold exploration projects, and we strongly believe the Exodus Gold Project provides a compelling opportunity for the Company and its shareholders. The high-grade nature of gold mineralization at the Project, combined with extensive access and infrastructure, helped make this an easy decision to option. The project can be explored and developed year-round. Preliminary exploration activities to-date indicate potential for what may be one of British Columbia's most interesting new gold discoveries. We are currently preparing for our field season in Nevada at our Slumber and Sandy Gold Projects, but we have now expanded our exploration pipeline of opportunity through this very exciting accretive acquisition of a near-drill ready high-grade gold project in British Columbia, Canada. With gold recently hitting its highest Canadian dollar price, exploration advancing immediately and accelerated alongside our Nevada exploration campaign, 2020 looks to be a busy and exciting year for NV Gold."
Highlights of the Exodus Gold Project:
- Privately held and actively explored since first staked in 2017. Exploration to-date has identified a potential district wide high-grade gold system encompassing an extensive orogenic quartz vein field hosted by deformed and metamorphosed volcanic and sedimentary rocks. Carbonate alteration is widespread around quartz veins.
- Widespread gold and associated arsenic and antimony geochemical anomalism displayed by quartz vein and soil samples. Recent trenching (Trench 1) yielded 14 rock samples grading greater than 5.0 g/t Au, including 9.01 g/t Au (35,600 ppm As, 609 ppm Sb), 13.70 g/t Au (26,000 ppm As, 295 ppm Sb) and 23.2 g/t Au (74,600 ppm As, 1,540 ppm Sb). Gold mineralization occurs with arsenopyrite and antimony minerals, suggesting a possible epizonal orogenic setting.
- Significant and sizeable land position consisting of 11,241 hectares (112.41 square kilometres), with multiple gold showings identified through mapping, prospecting, soil sampling, thin section analysis, channel sampling, and trenching.
- New extensions of logging roads completed in winter of 2019 will provide approximately 15 kilometres of year-round access throughout the mineral claims. (Of note: similar mineralization was recently identified approximately 700 meters from Trench 1 in a new bedrock exposure along the new logging road extension.)
- Preliminary discussions have been initiated with Lheidli T'enneh First Nation with the goal of establishing a working relationship or Memorandum of Understanding (MOU). The logging access road to the Exodus Gold Project was recently named “Mine Road” by LTN Contracting in June 2020.
- Mineral claims are in good standing through December 31, 2021, with trenching and exploration permits also in place until 2021, and drilling permits are being finalized.
- Extensive infrastructure exists nearby with rail and power within 10 kilometres. The main city of Prince George is within 40 kilometres.
- Eligible for 30% Mountain Pine Beetle Mineral Exploration Tax Credit ("METC") to assist in offsetting project expenses.
- Eligible for British Columbia Super-Flow-Through future equity financings.
- COVID-19 Operation Plan in place for safe, but active summer exploration program.
Project Location Map:
(Click image to enlarge)
Exodus Gold Project Claims:
(Click image to enlarge)
Exodus Gold Project Trench 1: Example of exposed quartz veins up to 1.5m wide:
(Click image to enlarge)
Channel rock chip samples of high-grade gold quartz veins has been the initial focus of exploration work at the Exodus Gold Project. Based on limited sampling, significant mineralization is believed to occur within altered and deformed host rocks surrounding these veins. Gold mineralization is strongly associated with pathfinder elements arsenic and antimony, a possible indication of an epizonal orogenic setting for this system.
Discovery Rock Sample 2017 (7.2 g/t Au):
(Click image to enlarge)
Investor Update
Retail investors have taken note of NVX’s rock solid stock performance over the past quarter, nearly quadrupling in price since early April 2020. Institutional money has been pouring into the Company, as well.
Recently on
May 26th, NV Gold closed an over-subscribed private placement of nearly CDN$1.2 million, with a lead order from
GoldSpot Discoveries Corp. (
TSX-V.SPOT), and US institutional funds.
(Click image to link to chart)
All in all, it adds up to an exciting summer of exploration for NV Gold Corp., with potential three drill programs (Slumber, Sandy and Exodus), and its top list of shareholders, and new would-be investors looking into a burgeoning gold discovery project in one of the world’s most minerally-rich and mining-friendly jurisdictions.
Of note, you can reach the CEO, Peter A. Ball at 1-888-363-9883 or
peter@nvgoldcorp.com, or via the website at
https://www.nvgoldcorp.com.
FULL DISCLOSURE: This is a paid article produced by Stockhouse Publishing.