DEL MAR, Calif., Nov. 19, 2013 (GLOBE NEWSWIRE) -- Nevada Gold Corp (OTCQB:NVGC) President Merrill Moses is pleased to report the 2013 fall exploration program on the newly optioned Diamond Jim Mine property located in Northern Nevada is underway. Nevada Gold Corp's first priority (weather permitting) is to conduct a surface chip sampling program as well as locate and gather samples from the property's tailings dumps. The Company will unitize ALS Chemex Labs located in Elko, Nevada to provide assaying and analytical services for this project.
ALS Chemex Labs Inc. is internationally recognized for the services it provides for mining and mineral exploration companies in North America and internationally. ALS Chemex Labs Inc. is considered to be one of the most reputable geochemical and assaying laboratories operating around the world. Receiving and processing rock and soil samples in a timely manner is of the utmost importance and ALS Chemex Labs is located less than 70 miles from the Diamond Jim Mine project. Field supervisor for the Diamond Jim project expects samples to arrive at the Elko Chemex Lab facility on a daily basis. The Nevada Gold Corp team will be housed in Elko throughout the duration of phase one of this program.
About Nevada Gold Corp.
Nevada Gold Corp (OTCQB:NVGC) is a publicly traded US exploration company focused on precious metals targets in the gold rich area of North Eastern Nevada. To date, Nevada State has produced over 200 million ounces of gold with Nevada accounting for almost 84% of the US annual gold production. Most recently the company has a acquired an option to earn a 75 percent interest in the former producing silver/lead and gold mine called the Diamond Jim Mine located in Northern Nevada State.
The Diamond Jim Mine in Elko County consists of 35 claims and is located in northeastern Nevada, 20 miles (32 km) south of the Idaho border, 69 miles (111 km) north of the city of Elko and 260 miles (418 km) northeast of the city of Reno. The Diamond Jim mine was discovered in the late 1860's and went into production in 1934 with commercial production commencing in 1954. The property lies on the easterly end of the northeast-trending Midas trend, one of Nevada's several important epithermal gold belts. The Midas trend hosts a number of significant to world-class gold districts such as Midas-Ken Snyder Mine and the Jerritt Canyon Mine (recently produced its 8 millionth ounce of gold). These mines produce mainly from epithermal vein systems favourable for small but profitable high-grade operations and Carlin-type sediment-hosted deposits amenable to large-scale open-pit bulk mining. Previous "estimated" non-NI 43-101 compliant resources were, in the Company's view substantial, with a grade of 2 ounces of silver per ton. This estimate was defined in 1985 by Columbus Mines Inc.
Nevada Gold Corp plans to conduct an initial surface exploration program as well as seek a permit to reopen the old mine workings to verify previous exploration results. In addition to the Diamond Jim property the company also has an option on another gold property located in Nevada's Long Canyon Gold Trend.
Company Website: http://www.nvgoldcorp.net
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Notice Regarding Forward-Looking Statements:
This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, that the company will be able to expand its board of directors with members who will be able to assist in raising capital or negotiating future acquisitions, the formation of a Technical Advisory Committee or the activities of such Committee, or that North Eastern Nevada will produce another world class deposit or that we will be a participant in any such discovery, or that past production from the region is any indication of future production.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
CONTACT: Nevada Gold Corp
2683 Via De La Valle
Del Mar, CA 92014
Investor Relations for Nevada Gold Corp
is SmallCapVoice.com, Inc.:
Stuart T. Smith