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Nevada Exploration Inc. (NGE.V)

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0.1700+0.0150 (+9.68%)
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Previous Close0.1550
Open0.1550
Bid0.1550 x 0
Ask0.1700 x 0
Day's Range0.1550 - 0.1750
52 Week Range0.1200 - 0.2500
Volume74,699
Avg. Volume118,618
Market Cap22.349M
Beta (5Y Monthly)0.89
PE Ratio (TTM)N/A
EPS (TTM)-0.0350
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
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  • Nevada Exploration Launches VRIFY Model for South Grass Valley Carlin-Type Gold Project and Provides April 2021 Drilling Update
    GlobeNewswire

    Nevada Exploration Launches VRIFY Model for South Grass Valley Carlin-Type Gold Project and Provides April 2021 Drilling Update

    South Grass Valley Carlin-Type Gold Project 3D VRIFY Model South Grass Valley Carlin-Type Gold Project 3D VRIFY Model RENO, Nev., May 03, 2021 (GLOBE NEWSWIRE) -- Nevada Exploration Inc. (“NGE” or the “Company”) (TSX-V:NGE; OTCQB:NVDEF) is pleased to announce the launch of its interactive South Grass Valley 3D VRIFY model, and to provide the second monthly update from its 2021 core drilling program at the project. The first hole of the program, SGVC012, is presently at a depth of approximately 1,300 metres within the Goodwin Formation of the lower plate. Logging completed for the upper portion of the hole has confirmed the presence of Carlin-type alteration associated with highly-anomalous pathfinder geochemistry, as well as significant, regional-scale structural features along the projection of the Water Canyon Structural Corridor, as predicted by the Company’s geologic model. At the current depth, core samples are showing evidence of increasing structural deformation and hydrothermal fluid flow, and the Company plans to continue to drill deeper while these features intensify. For its next hole, SGVC013, NGE is planning to move southwards along the NNW-trending Water Canyon Structural Corridor, and extend its southernmost fence of drill holes another 600 metres towards the east. To provide the context to explore the new information provided with its monthly updates, NGE welcomes its stakeholders to visit its new 3D South Grass Valley model, where the Company has published its geologic model and the results of each major work program to date using VRIFY Technology Inc.’s interactive VRIFY platform. For a guided introduction to the model, the Company has also provided a short video highlighting the main datasets available to be reviewed. South Grass Valley VRIFY model: https://vrify.com/decks/10143-south-grass-valley-model-tour.Video introduction to model (2:32): https://youtu.be/23otbkoJROs A photo accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/04a58dad-61fd-476f-8cf0-4c81798fced2 With respect to the current drilling, NGE reports: The Company has logged the SGVC012 core samples down to a depth of 954 metres (this includes washing the core, collecting both white light and UV photography, completing geologic logging, collecting oriented-core structural measurements, cutting the core, and completing preliminary XRF geochemistry analysis);Since first encountering lower-plate bedrock at 590 metres, SGVC012 has drilled through the Roberts Mountains, Hanson Creek, and Goodwin Formations;Within the units that have been logged, there is evidence of pervasive Carlin-style hydrothermal fluid flow, marked by bleaching, argillization and decalcification, indicative of acid-leaching associated with the passage of CTGD hydrothermal fluids, as well as bedding-parallel and bedding-normal calcite veining, all of which, based on preliminary portable XRF-derived geochemistry, is associated with highly anomalous Carlin-type pathfinders, particularly within high-angle fracture zones cutting through the Roberts Mountains and Hanson Creek Formations;SGVC012 did not encounter the Lower Hanson Creek, Antelope Valley or Nine Mile Formations that elsewhere sit below the Upper Hanson Creek and above the Goodwin (see the Stratigraphic Column provided in the VRIFY model: https://vrify.com/decks/10143-south-grass-valley-model-tour?slide=86385), which represents a thick sequence of missing stratigraphy consistent with the presence of a significant structural feature oriented sub-parallel to bedding, such as a large low-angle thrust fault; andThe predominant bedding seen within the Goodwin Formation units in SGVC012 is parallel to the core axis, representing a significant change in orientation relative to that seen west of the Water Canyon Structural Corridor – west of the corridor the bedding dips 15o to the SE, whereas east of the corridor the bedding dips 70o to the SW - which based on the preliminary oriented-core measurements appears consistent with a significant fault and/or fold feature running parallel to the NNW-trending Water Canyon Structural Corridor. NGE’s CEO Wade Hodges, discussing SGVC012 and plans for SGVC013: “It’s obviously early days for the program, and we still have more core to log from this current hole, though the first 950 metres we’ve logged has already confirmed the presence of widespread Carlin-type hydrothermal fluid flow, as well as highlighted both the scale and complexity of the structural features we’re seeing across the district, and in particular along our projected Water Canyon Structural Corridor. “In our earlier drilling we began to see evidence that a block of the Roberts Mountains and Hanson Creek, which we call the “Wedge Block”, had been moved along a low-angle discontinuity we refer to as the “Hydra Fault”; and what we’re seeing in SGVC012, with more than 350 metres of missing stratigraphy between the Upper Hanson Creek and the Goodwin, is helping to solidify the presence of a major potential thrust fault across this northern end of the project. “Once we drilled below this potential thrust feature, the next unit we encountered, the Goodwin, was tipped almost 90 degrees relative to what we saw to the west, indicative of significant folding and/or faulting between SGVC012 and our earlier holes, the axis of which appears to be parallel to our major NNW corridor. As we’ve shared, the three major Carlin districts are all anchored by regional-scale structural features, which provided the fluid pathways to move massive volumes of mineralized hydrothermal fluids, and this large step-out to the east continues to present more evidence for just how big the scale of these structural and alteration features are at South Grass Valley. “While it is significant to note the massive scale of these features, the change in bedding in the Goodwin does present a challenge in that we are now drilling parallel to the bedding, meaning we’re having to drill deeper than expected to reach our Cambrian-aged target stratigraphy below. At the moment we’re seeing increasing post-soft sediment deformation and debris flow structural straining with normal-to-bedding calcite tension veinlets, together with fracture-controlled bleaching, and our plan is to continue the hole deeper; however, depending on what we see over the coming days with the XRF-derived geochemistry, we may make a decision to stop the hole, and instead use a subsequent drill hole in this area to test our target Clm stratigraphy closer to the center of the fold or fault feature – a setting we know hosts mineralization at the three major Carlin districts – where we also expect our target units to sit closer to surface. “In the meantime, while we finish logging the bottom of SGVC012, when we’re ready to move sites, our plan is to drill our next hole, SGVC013, at the south end of the project, to extend our southernmost fence of drill holes deeper and closer to the Water Canyon structural corridor (see Section D -D’ in the VRIFY model: https://vrify.com/decks/10143-south-grass-valley-model-tour?slide=86386). In terms of our speed of drilling, we’re seeing penetration rates averaging about 25 metres per day, which is slower than expected, though the daily averages have been increasing as the drillers become more familiar with the project, and we’re expecting this trend to continue with SGVC013. “In summary, our early observations from SGVC012 are consistent with our projections of a major structural corridor cutting through our project area, hosting significant Carlin-type hydrothermal alteration features associated with highly-anomalous pathfinders – together all at a scale consistent with Nevada’s largest Carlin-type mineral systems, and we’re looking forward to finishing logging and sampling the SGVC012 core, and to moving on to add a similarly important new hole at the south end of the project. “To follow our continued progress, we encourage all of our stakeholders to visit our new VRIFY model for the project, where you can review the results of each of our work programs, and our resulting geologic model – the same model we use daily to guide our current drilling. By publishing all of this data online using VRIFY’s intuitive and interactive platform, we’re providing a powerful and transparent tool to explore how we’ve systematically advanced and de-risked this otherwise-covered project. We hope you find it valuable.” As the 2021 South Grass Valley drilling program continues, NGE encourages its stakeholders to sign up to its email list to receive its monthly updates, as well as to subscribe to one or more of its social media channels to follow along as its team shares photos from the field and its logging facility. Email sign up: www.nevadaexploration.com/investors/signupTwitter: www.twitter.com/NV_ExplorationInstagram: www.instagram.com/nevadaexplorationFacebook: www.facebook.com/NevadaExplorationInc About Nevada Exploration Inc. With mature, exposed search spaces seeing falling discovery rates, NGE believes the future of exploration is under cover. Nevada’s exposed terrains have produced more than 200 million ounces of gold, and experts agree there is likely another 200 million ounces waiting to be discovered in the more than half of Nevada where the bedrock is hidden beneath post-mineral cover. NGE has spent more than 15 years developing and integrating new hydrogeochemistry (groundwater chemistry) and low-cost drilling technology to build an industry-leading, geochemistry-focused toolkit specifically to explore for new gold deposits under cover, and the Company is now advancing a portfolio of projects totalling more than 170 square kilometres. NGE’s most advanced project is South Grass Valley, located approximately 50 kilometres south-southwest of the Cortez complex, operated by Nevada Gold Mines (Barrick Gold Corp. and Newmont Corporation joint venture), within the specific region of north-central Nevada that hosts Nevada’s largest Carlin-type gold deposits (“CTGDs”). Since acquiring the Project, NGE has completed: an infill borehole groundwater sampling program, detailed air magnetic and gravity geophysics surveys, a soil geochemistry sampling program, an initial diamond core drilling program consisting of 10 stratigraphic orientation holes, and most recently (2020), a follow-up reverse-circulation drilling program consisting of 17 holes to increase the density of its bedrock sampling. Based on the results of its combined exploration datasets, NGE believes it has discovered a mineral system at South Grass Valley with the architecture and scale to potentially support multiple CTGDs. As the Company continues to advance the project, per NI 43-101, 2.3(2), the Company must remind its stakeholders that the project remains an exploration target for which the potential quantity and grade of any mineral resource is still conceptual in nature, and that it is uncertain if further exploration will result in the target being delineated as a mineral resource. For further information, please contact: Nevada Exploration Inc.Email: info@nevadaexploration.comTelephone: +1 (604) 601 2006Website: 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.

  • Is Nevada Exploration (CVE:NGE) In A Good Position To Invest In Growth?
    Simply Wall St.

    Is Nevada Exploration (CVE:NGE) In A Good Position To Invest In Growth?

    Just because a business does not make any money, does not mean that the stock will go down. For example, although...

  • Nevada Exploration South Grass Valley Carlin-Type Gold Project - March 2021 Drilling Update
    GlobeNewswire

    Nevada Exploration South Grass Valley Carlin-Type Gold Project - March 2021 Drilling Update

    RENO, Nev., March 31, 2021 (GLOBE NEWSWIRE) -- Nevada Exploration Inc. (“NGE” or the “Company”) (TSX-V:NGE; OTCQB:NVDEF) is pleased provide the first monthly update from its 2021 core drilling program at South Grass Valley. The initial hole of the program, SGVC012, is currently at a depth of 710 metres, and proceeding well within characteristic Carlin-type lower-plate host rocks. NGE is also pleased to announce that it has completed the commissioning of its newly upgraded core logging facility, which has included the addition of some of the latest exploration technologies to provide critical and timely information to guide the Company’s ongoing drilling. With respect to the current drilling, NGE reports that: SGVC012 encountered 559 metres of alluvium followed by 32 metres of the distinctive Nine Hill Tuff, before entering what appears to be a lower plate bedrock unit at 590 metres;Preliminary observations indicate that this first lower-plate unit is consistent with Roberts Mountains formation, which sits higher in the stratigraphy than the units encountered to the west in earlier drilling; andPreliminary observations show that this unit is oxidized and exhibits numerous broken zones associated with the effects of decarbonatization and argillic alteration, which together are consistent with the drill hole approaching the projected Water Canyon Structural Corridor. In preparation for supporting its current drilling program, the Company has now completed a major upgrade to its logging and storage facility in Sparks, Nevada. The Company has partnered with a number of industry leaders to maximize the information it can extract from each of its drill holes, reduce the timelines for integrating this new data into its exploration model, and improve its core handling infrastructure to accommodate the expected volume of core from its planned deeper drill holes. NGE’s upgraded facility now includes: A palletized core storage and retrieval system, with associated forklift and racks, to provide easy access to all current and historical drill samples;A higher-capacity core saw and core washing station to improve throughput at what is regularly a bottleneck in the early stages of logging;Expanded logging tables capable of accommodating up to 500 metres of core to support reviewing geological features across long intervals and multiple drill holes;An enclosed, dual-purpose Imago (www.imago.live) core photography workstation that in addition to acquiring high-resolution traditional white-light imagery also collects short-wave ultraviolet imagery, which provides important and otherwise-invisible information for mapping hydrothermal fluid pathways and alteration features;A REFLEX XRF Geochemical Analyzer Workstation with an Olympus VMR instrument, supplied by IMDEX (www.imdexlimited.com), to provide rapid geochemistry data from core samples;A new geoscientific information management system built on a cloud-hosted acQuire platform (www.acquire.com.au) to provide form-based logging, assay management, and other sample management tools to standardize the entire core logging and sample handling procedures, to automate much of the integration of new assay results, as well as to provide improved connectivity between each of the major geochemistry and geologic modeling software programs used by NGE’s team. Commenting on the commissioning of the Company’s upgraded logging facility and the start of the 2021 South Grass Valley drilling program, NGE President, James Buskard: “Drilling is by far the most expensive thing we do. With this current program we are using deep holes to test a very large target, and it is our job to extract as much information as possible from every new batch of core samples. The faster we can incorporate this new information into our geologic model, the better decisions we can make at the drill rig. “Since closing our financing at the end of 2020, our team has worked tirelessly to upgrade our core logging facility to be able to collect additional information from our drill samples, and to improve our physical and digital infrastructure associated with all aspects of processing and managing the samples and the resulting information they provide. “One of the biggest investments we’ve made is adding an XRF workstation into our logging workflow to provide early geochemistry data. To integrate this XRF data into our exploration decision making, we’ve completed an orientation program using samples from our earlier drilling programs. The results have given us confidence in the data across useful concentrations for our primary Carlin-type pathfinders, as well as for other important elements used to characterize and identify different stratigraphic units as we’re drilling. “Our current hole, SGVC012 is in good shape and progressing smoothly. We are retrieving core approximately weekly to bring back to our logging facility, and have just received the first load since entering the lower plate. Angled at about 70 degrees, towards the west, as the hole proceeds deeper we’re looking forward to sampling more of the Water Canyon Structural Corridor on our way down to the stratigraphic Clm Unit that defines our primary East Golden Gorge target. With our new core logging facility pieces in place to review each new batch of samples, we’re equipped to leverage the latest tools to make the most informed drilling decisions we can.” As the 2021 South Grass Valley drilling program continues, NGE encourages its stakeholders to sign up to its email list to receive its monthly updates, as well as to subscribe to one or more of its social medial channels to follow along as its team shares photos from the field and its logging facility. Email sign up: www.nevadaexploration.com/investors/signupTwitter: www.twitter.com/NV_ExplorationInstagram: www.instagram.com/nevadaexplorationFacebook: www.facebook.com/NevadaExplorationInc For more detailed information about NGE’s work to date and next-staged plans at South Grass Valley, readers are encouraged to watch the Company’s July 2020 technical video available on its website at https://www.nevadaexploration.com/investors/media/ (24 minutes). Incentive Stock Options NGE also announces that it has granted incentive stock options to officers, directors, and insiders under its Stock Option Plan entitling them to purchase an aggregate of up to 3,110,500 common shares of the Company. The stock options are exercisable on or before March 31st, 2031, at a price of $0.18 per share, subject to TSX Venture Exchange acceptance. About Nevada Exploration Inc. With mature, exposed search spaces seeing falling discovery rates, NGE believes the future of exploration is under cover. Nevada’s exposed terrains have produced more than 200 million ounces of gold, and experts agree there is likely another 200 million ounces waiting to be discovered in the than half of Nevada where the bedrock is hidden beneath post-mineral cover. NGE has spent more than 15 years developing and integrating new hydrogeochemistry (groundwater chemistry) and low-cost drilling technology to build an industry-leading, geochemistry-focused toolkit specifically to explore for new gold deposits under cover, and the Company is now advancing a portfolio of projects totalling more than 170 square kilometres. NGE’s most advanced project is South Grass Valley, located approximately 50 kilometres south-southwest of the Cortez complex, operated by Nevada Gold Mines (Barrick Gold Corp. and Newmont Mining Corp. joint venture), within the specific region of north-central Nevada that hosts Nevada’s largest Carlin-type gold deposits (“CTGDs”). Since acquiring the Project, NGE has completed: an infill borehole groundwater sampling program, detailed air magnetic and gravity geophysics surveys, a soil geochemistry sampling program, an initial diamond core drilling program consisting of 10 stratigraphic orientation holes, and most recently (2020), a follow-up reverse-circulation drilling program consisting of 17 holes to increase the density of its bedrock sampling. As outlined in the video listed above and described in the Company’s news release dated July 13, 2020 (https://www.nevadaexploration.com/news/2020/nevada-exploration-presents-plans-to-advance-east-golden-gorge-at-south-grass-valley), based on the results of its combined exploration datasets, NGE believes it has discovered a mineral system at South Grass Valley with the architecture and scale to potentially support multiple CTGDs. As the Company continues to advance the project, per NI 43-101, 2.3(2), the Company must remind its stakeholders that the project remains an exploration target for which the potential quantity and grade of any mineral resource is still conceptual in nature, and that it is uncertain if further exploration will result in the target being delineated as a mineral resource. For further information, please contact: Nevada Exploration Inc.Email: info@nevadaexploration.comTelephone: +1 (604) 601 2006Website: 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. A video accompanying this release is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/3c025b1a-4bd9-4205-a641-ee3a73a7a498