NV Gold Identifies a Significant New Gold Zone at Awakening Area of the Slumber Project
Initial 2026 drilling at NV Gold’s Slumber project outlines a new Awakening Zone with broad gold intercepts and an expanded land position.
Rhea-AI Summary
NV Gold (NVGLF) reported initial 2026 drilling results at its Slumber project, including 41.14 m of 0.844 g/t gold in hole SL-42.
The new Awakening Zone, about 1.4 km northeast of earlier gold zones and partly on recently leased DeLong Ranch land, has returned broad mineralized intervals in SL-38 and SL-42, with SL-42 described as a discovery hole. Assays have been received for 3 of 6 initial reverse circulation holes, with 25–30 holes planned in the 2026 program that is expected to run into November. The Slumber property totals 130 lode claims plus roughly 1,500 acres of private land, and NV Gold reports it is well financed with about 35 million shares outstanding, over $2.0 million in cash and no debt.
Positive
- SL-42 41.14 m @ 0.844 g/t Au from 158.5–199.64 m, including 21.34 m @ 1.00 g/t Au
- SL-42 near-surface 50.0 m @ 0.420 g/t Au from 6–56 m
- SL-38 47.25 m @ 0.655 g/t Au from 185.98–233.23 m, terminating in ~0.5 g/t Au
- 2026 program plans 25–30 additional RC holes, mainly in the Awakening Area
- Slumber land package includes 130 lode claims plus about 1,500 acres of private ranch land
- Company reports about 35 million shares outstanding, over $2.0 million in treasury and no debt
Negative
- Some holes (SL-39, SL-39A) ended short of target depth due to highly broken, altered ground
- Assays are pending for several holes, including SL-39, SL-39A and the 655–735 ft interval of SL-42
- True widths of mineralized intervals are not yet known, currently estimated at 70–100% of drilled length
AI-generated analysis. How Rhea-AI works. Not financial advice.
Drill Results including 41 m of .844 g/tonne Gold in Hole SL-42
Vancouver, British Columbia--(Newsfile Corp. - September 23, 2026) - NV Gold Corporation (TSXV: NVX) (OTCQB: NVGLF) ("NV Gold" or the "Company") is pleased to provide an update with initial drill results from its
Current Status of the 2026 Program
The 2026 drilling campaign prioritized drilling in step fashion from the northwest to southeast, approaching an area of widespread surface silicification identified by surface mapping and sampling. Drilling has been challenging to date, encountering numerous zones of highly fractured, intensely silicified rock with moderate ground water inflows. The initial hole, SL-37 (Total depth of 170.69 meters, 560 feet, azimuth of 135 degrees, dip of -60),, encountered weakly-altered volcanics from the surface to 170 meters, but yielded only anomalous gold values. The second hole, SL-38 (Total depth of 233.17 meters, 765 feet, azimuth of 145 degrees, dip of -60) , collared 120m south of SL-37 entered a well-mineralized newly-identified gold zone at 186 meters (610 feet) that persisted to depth at 233 meters (765 feet), where the hole was terminated due to caving. This 50-meter interval averaged 0.655 gpt Au and the hole terminated in +/-0.5 g Au. Two additional holes SL-39 (Total depth of 117.35m, 385 feet, azimuth of 145 degrees, dip of -60) and 39A (Total depth of 161.54 meters, 530 feet, azimuth of 0, dip of -90) were drilled approximately midway between SL-38 and SL-42 (Total depth of 224.03 meters, 735 feet, azimuth of 145 degrees, dip of -60). Both holes encountered highly broken and altered conditions and were terminated short of target depth. Assay results from these two holes are pending.
The fourth hole, SL-42, was collared approximately 120m south of SL-39 and 39A and approximately 250m south of SL-38. SL-42 is considered a discovery hole.
The Awakening Zone is located approximately 2 km northeast of the previously discussed Slumber Zone, drilled by the Company from 2019-2025. Surface mapping and sampling supports the potential that the two zones (Slumber and Awakening) may be connected. The 2026 drill program contemplates significant additional drilling to test that potential.
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Gold intercepts received as of September 21, 2026.
- SL-42 from 158.5 m (520') to 199.64m(655') 41.14m @ 0.844 gpt Au
- Including from (570) to (640) 21.34m @ 1.00 gpt Au
- SL-42* from 6m (20') to 56m (184') 50.0m @ 0.420 gpt Au
- SL-38 from 185.98 m (610') to 233.23 m (765') 47.25m @ 0.655 gpt Au
*Note: Due to a lab delay, samples from SL-42 655-735 remain to be received and will be reported in a subsequent press release.
* True widths are not known. However, based on the current understanding of mineralized zones, true widths are likely between
John Watson, NV Gold's CEO commented – "With the addition of leased private land connecting the Company's existing claim blocks, drilling has now commenced to test whether the gold mineralization continues between the two areas of known gold. The known gold system is large, covering an area over two kilometers long and 0.5-1.0 km wide."
Slumber Project Highlights:
- The Slumber property comprises 130 lode mining claims and approximately 1,500 acres of private ranch land;
- The project consists of volcanic-hosted epithermal gold mineralization found in a structural corridor along the southern Jackson Mountains;
- Four previous drill campaigns have been conducted by NVX since 2019. 34 RC holes (reverse circulation) were completed prior to 2026, totaling 8,588 meters;
- Geophysical surveys, including the CSAMT survey conducted in 2019 and an induced polarization (IP) survey in 2022, identified a continuous north-south to north-northeast-trending resistivity zone correlated with the gold mineralization. The resistivity anomaly indicates hydrothermally brecciated, highly-silicified volcanics with broad thicknesses returning gold values.
- On March 21, 2023, NV Gold announced the results of an "Exploration Target" analysis of the south claim block (Slumber Area). An Exploration Target provides a potential range of tons and grades and is conceptual in nature, the probability of confirmation is not known. This area remains open in several dimensions and potentially could connect with the Awakening Area currently being drill-tested over 1.5 km to the northeast.
- Preliminary metallurgical testing is planned to be undertaken on a number of samples from the current program to assess the potential amenability for heap leach processing. Oxidation persists to at least 200 meters in all areas observed to date.
- The leasing of the area of intervening private land has added a substantial new dimension to the potential of the project. The first holes in the Awakening Area have intersected thick intervals of intensely-silicified volcanics that have now returned highly encouraging gold values. The remainder of the planned drilling should bring the potential dimensions of the deposit into more complete focus.
The 2026 Drilling Program is expected to continue into the month of November or later. The Company expects to complete 25-30 additional holes, primarily targeting the Awakening Area, but may also add several holes in the Slumber Area north of the 2023 Exploration Target boundary.
Analytical Laboratory and QA/QC Procedures
The company used a Shram 451 reverse circulation drill of Premier Drilling of Elko Nevada. All 2026 Slumber drilling is of the 'reverse circulation' type, returning rock samples that range in size from <1mm up to 2 cm, with the majority between 1 and 10 mm in longest dimension. Samples are collected using from the cyclone underflow as a separate split from circulation returns onsite and submitted to MSA Laboratory of Elko Nevada for up to 500 gram non destructive PhotonAssay. Company staff maintain sample custody until laboratory pickup. Samples submitted range in weight from 0.450 kg to 10.4 kg. Laboratory procedures include crushing and unbiased split to achieve as close to 500 gram sample. Samples are taken at 1.52 meter (5 feet) intervals in all holes. Chip samples were collected in trays for all intervals, photographed, and are retained by the company.
The quality assurance-quality control (QA/QC) program of NV Gold Corp. includes the insertion of certified standards of known gold content, blank and duplicate samples. MSAlabs, Elko uses a 500 gram crushed material (Riffle Split), code SPL-430, to conduct a gama ray analysis of sample for gold by photo assay instrument (2 cycle), code CPA-Au2. The samples are not consumed in the analysis and are returned to the company for future reference.
Qualified Person Disclosure
Jesse D. Wellman, C.P.G, an economic geologist and independent consultant for the Company, and Qualified Person as defined by National Instrument 43-101 ("NI-4301 "), has reviewed and approved the scientific and technical information in this news release.
About NV Gold Corporation
NV Gold (TSXV: NVX) (OTCQB: NVGLF) is a well-financed exploration company with ~35 million shares issued, over
On behalf of the Board of Directors,
John E. Watson
Chairman & CEO
For further information, visit the Company's website at nvx.gold or contact us at 604-245-0054.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the Company's planned exploration activities, that SL-42 is considered a discovery hole, that the two zones (Slumber and Awakening) may be connected, and the potential for a discovery at its properties are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include regulatory issues, market prices, availability of capital and financing, general economic, market or business conditions, timeliness of government or regulatory approvals, the extent to which mineralized structures extend on to the Company's projects, the risk that the exploration results do not reflect the mineralization of the properties and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as otherwise required by applicable securities legislation.
NV Gold Corporation, 250 - 750 West Pender Street, Vancouver, BC V6C 2T7
Telephone: 604-245-0054
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/315679
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
Where is the Awakening Zone located relative to previous work at Slumber?
The Awakening Zone is approximately 2 km northeast of the previously discussed Slumber Zone, which was drilled from 2019–2025. The current program is testing whether mineralization in the Slumber and Awakening areas may be connected over a distance of roughly 1.5–2 km.
How many drill holes have been completed historically and in 2026 at Slumber?
Before the 2026 campaign, NV Gold had completed 34 reverse circulation holes at Slumber totaling 8,588 m across four drill campaigns since 2019. In 2026, six initial holes have been drilled at Awakening, with assays received so far for three of them and additional holes planned.
How long is the 2026 drilling program at Slumber expected to continue?
The 2026 drilling program at Slumber is expected to continue into November or later. The company plans to complete 25–30 additional holes, focusing mainly on the Awakening Area, with the possibility of several more holes in the Slumber Area north of the 2023 Exploration Target boundary.
What metallurgical and processing potential is being evaluated for the Slumber project?
Preliminary metallurgical testing is planned on samples from the current program to assess amenability to heap leach processing. Oxidation has been observed to persist to at least 200 m in all areas seen so far, which the company views as relevant for this assessment.
What drilling and assay methods and QA/QC procedures are being used?
The 2026 drilling uses a Shram 451 reverse circulation drill operated by Premier Drilling of Elko, Nevada. Samples, collected at 1.52 m (5 ft) intervals, are split from the cyclone underflow and sent to MSA Laboratory in Elko for up to 500 g non-destructive PhotonAssay. NV Gold’s QA/QC program inserts certified standards, blanks and duplicates, and MSAlabs uses a 500 g crushed split (SPL-430) for gamma ray photo assay (CPA-Au2). Samples are not consumed and are returned to the company.
Who is the Qualified Person responsible for the technical information?
Jesse D. Wellman, C.P.G., an economic geologist and independent consultant to NV Gold, is the Qualified Person as defined by National Instrument 43-101. He has reviewed and approved the scientific and technical information in the news release.