RENO, Nev., Jan. 07, 2020 (GLOBE NEWSWIRE) -- Nevada Exploration Inc. (“NGE” or the “Company”) (TSX-V: NGE; OTCQB: NVDEF) is pleased to announce that it has commenced its 2020 drilling program at its South Grass Valley Project (the “Project”). As described in detail in the Company’s November 15, 2019, news release (www.nevadaexploration.com/news/2019/nevada-exploration-advancing-four-carlin-type-gold-targets-at-south-grass-valley) and accompanying video (www.youtube.com/watch?v=XYMIH-mqIKo&feature=youtu.be), NGE has designed a 9,500-metre reverse-circulation (“RC”) drilling program to achieve specific objectives at four targets at the Project (Water Canyon, Golden Gorge, Waterfall, and Freddie), with clear definitions for success at each. An RC drill rig has mobilized to the Project and has begun drilling at its first drill site, located close to Goodwin Butte, within the Freddie target area.
The Company expects to complete the drilling program by way of two cycles through the four target areas. For the first cycle, NGE expects to begin by drilling approximately 1,500 metres at each target to confirm the geologic model and exploration concept at each, and then continue with the second cycle through the targets, leveraging the benefits from the additional geologic data from the first cycle. Subject to availability and drilling progress, the Company expects to add a second RC drill rig to complete some of the first-cycle drilling. As drilling proceeds, NGE plans to keep its stakeholders apprised of its progress with regular news release updates.
Discussing the drilling program, Wade Hodges, CEO: “We are very pleased to keep the momentum building at the Project. Our team has done an exceptional job over the past few months to integrate the results from our 2019 core drilling to build the geologic model that has established South Grass Valley as Nevada’s largest new Carlin-type mineral system. Driven by our clear plan, with our recent financings we’re now moving quickly and efficiently to continue advancing the Project. Over the coming months, we expect to learn much more about this exciting camp-scale project.”
Upcoming Events
NGE is pleased to welcome its stakeholders to visit with its team at the following upcoming industry events:
XPLORATION TECHNOLOGY SYMPOSIUM (Vancouver)
Friday, January 17, 2020
NGE Presenting at 3:00 PM: “An integrated, mineral systems approach to generating and advancing blind Carlin-type gold projects” (Simon Griffiths, NGE Senior Technical Consultant)
Program: https://www.imdexlimited.com/media/home/IMDEXTechSymposium_Programme_USLetter_v9.pdf
Registration: https://www.eventbrite.com/e/xploration-technology-symposium-2020-presented-by-imdex-and-coresafe-tickets-71019263529?aff=reflexweb
VANCOUVER RESOURCES INVESTMENT CONFERENCE (Vancouver)
Sunday and Monday, January 19 to 20, 2020
Booth: 813
NEVADA EXPLORATION SUNDAY KICK-OFF BREAKFAST: https://investor.nevadaexploration.com/vric-2020/
Corporate Presentation: 1:30PM, Monday, January 20, 2020 – Workshop 3
https://cambridgehouse.com/vancouver-resource-investment-conference
AME ROUNDUP (Vancouver)
Monday to Thursday, January 20 to 23, 2020
NGE Presenting in “Seeing the Unseeable – 2020 Theme Session”, 10:40AM, Tuesday, January 21, 2020 (James Buskard, NGE President)
https://roundup.amebc.ca/
PDAC (Toronto)
Sunday to Wednesday, March 1 to 4, 2020
Booth: IE2527
https://www.pdac.ca/convention
About Nevada Exploration Inc.
NGE is an exploration company advancing a portfolio of new district-scale Carlin-type gold projects in north-central Nevada. NGE is led by an experienced management team that has been involved in several major discoveries in Nevada, including the discovery of Lone Tree and Rabbit Creek (part of the Twin Creeks Mine).
NGE’s team has spent the last decade integrating the use of hydrogeochemistry with conventional exploration tools to develop a Nevada-specific regional-scale geochemistry exploration program. With new proprietary technology, NGE has completed the world’s largest groundwater sampling program for gold exploration, collecting approximately 6,000 samples to evaluate Nevada’s covered basins for new gold exploration targets.
By integrating hydrogeochemistry with conventional exploration methods, NGE is leading the industry to open this important new search space to explore for large new Carlin-type gold deposits.
For more information, the Company’s latest videos are available at:
https://www.nevadaexploration.com/investors/media/
For further information, please contact:
Nevada Exploration Inc.
Email: info@nevadaexploration.com
Telephone: +1 (604) 601 2006
Website: www.nevadaexploration.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Wade A. Hodges, CEO & Director, Nevada Exploration Inc., is the Qualified Person, as defined in National Instrument 43-101, and has prepared the technical and scientific information contained in this News Release.
Cautionary Statement on Forward-Looking Information:
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) within the meaning of applicable securities laws, including, without limitation, expectations, beliefs, plans, and objectives regarding projects, potential transactions, and ventures discussed in this release.
In connection with the forward-looking information contained in this news release, the Company has made numerous assumptions, regarding, among other things, the assumption the Company will continue as a going concern and will continue to be able to access the capital required to advance its projects and continue operations. While the Company considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies.
In addition, there are known and unknown risk factors which could cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are the risks inherent in mineral exploration, the need to obtain additional financing, environmental permits, the availability of needed personnel and equipment for exploration and development, fluctuations in the price of minerals, and general economic conditions.
A more complete discussion of the risks and uncertainties facing the Company is disclosed in the Company’s continuous disclosure filings with Canadian securities regulatory authorities at www.sedar.com. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/d9b84a4d-c772-4e6d-84e9-adb3becb3915
https://www.globenewswire.com/NewsRoom/AttachmentNg/256d53df-74c8-4038-a1ba-47b0b17da21f
Nevada Exploration's First 2020 RC Drill Hole - January 6, 2020
Nevada Exploration's First 2020 RC Drill Hole - January 6, 2020
Nevada Exploration's Planned 2020 RC Drill Program
Nevada Exploration's Planned 2020 RC Drill Program