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First Drill Results Show Thick, High Grade Oxide Gold Intercepts

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The Quick Take

  • NevGold Corp. reported the first four holes drilled at its Limousine Butte project in Nevada's Carlin Trend returned thick intercepts of high-grade oxide gold mineralization from near surface.
  • Result highlight include 61.6 meters (61.6m) of 2.19 grams per ton oxide gold (2.19 g/t oxide Au), including 11.6m of 8.51 g/t oxide Au.
  • These new data improve the geological model of Limousine Butte.
  • NevGold contracted with Paradox Public Relations for investor relations services for 36 months.
  • Compensation to Paradox will include CA$10,000 per month and 260,000 NevGold stock options. 

The initial drill results from NevGold Corp.'s (NAU:TSX; NAUFF:OTC; 5E50:FSE) Limousine Butte project highlight the near-surface oxide gold nature of mineralization there.

Representative assays include 1.3 grams per ton oxide gold (1.3 g/t oxide Au) over 44.4 meters (44.4m), including 3.11 g/t oxide gold over 11.1m.

Mineralization remains open along strike and at depth. Thus, with its current 10,000-hole program, underway, NevGold is drill testing the boundaries of the mineralization, focusing first on the Resurrection Ridge and Cadillac Valley targets. Two rigs, one core and one reverse circulation rig, are now active.  

1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: NevGold Corp. Click here for important disclosures about sponsor fees. 
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5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of NevGold Corp., a company mentioned in this article.


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