Earlier this month, NV Gold (NVX.V) confirmed it was gearing up for a 1,500 meter drill program on the Sandy Gold project, where NVX is planning to drill up to 10 RC holes. The Sandy project consists of 20 claims for a total of 400 acres, and is now completely surrounded by the Hercules gold project, owned by Eclipse Gold (EGLD.V).
But NV Gold is planning to get busy this quarter. Not only has it started the drill program at Sandy, it has now also received all necessary permits to start a new drill program on the Slumber gold project, also in Nevada. This will be a Phase II drill program as the first phase likely wasn’t drilled deep enough to hit the anticipated higher grade mineralized structures. NV Gold did intersect gold mineralization, but the grade remained relatively low. A recent CSAMT survey indicated the previous drill program didn’t drill deep enough, and NV Gold is now anticipating to complete 2,500 meters of drilling in about 10 holes using a Reverse Circulation drill rig. You can re-read our Q&A with CEO Peter Ball where we discuss the company’s projects here.
Disclosure: The author has a long position in NV Gold. NV Gold is a sponsor of the website.
