Article Dated December 17th 2009
Nevada Gold Holdings Inc. Provides Drilling Update at Tempo
WALNUT CREEK, Calif.--(BUSINESS WIRE)--Nevada Gold Holdings, Inc. ("the Company") (OTCBB: NGHI), a mineral exploration company focused on identifying and developing large-scale gold deposits in Nevada, announced today a drilling update on its Tempo prospect. To date, the Company has drilled three holes with total depths (TD) of 1,280 feet, 1,330 feet and 1,140 feet. These holes were selected as the first holes to be drilled for the first phase of the drilling program based on elevation in case of winter weather arriving early. The samples have been sent for analysis and the assay results from the holes will be evaluated by the Company to determine the second phase of the drilling program next spring.
“We are excited to have started our drilling project. The region we are in is right along the Rabbit Creek Gold Trend, known for many gold discoveries, and we believe that the program we have in place will determine the boundaries of what we hope to be a major discovery.”
CEO David Rector commented, “We are excited to have started our drilling project. The region we are in is right along the Rabbit Creek Gold Trend, known for many gold discoveries, and we believe that the program we have in place will determine the boundaries of what we hope to be a major discovery.”
The Company controls 206 contiguous lode mining claims, totaling approximately 4,000 acres, in the Tempo property, located on the southern extension of the north-south trending Rabbit Creek Gold Trend, a prolific Nevada gold belt containing at least 80 million known ounces of gold. The land position effectively controls an entire district-scale exploration opportunity with all the ingredients that could indicate several large, 1 million-ounce +, deposit discoveries.
About Nevada Gold Holdings, Inc.
Headquartered in Walnut Creek, CA, Nevada Gold Holdings, Inc. engages in the acquisition, exploration, and development of gold properties. The Company’s experienced management seeks to identify world class gold deposits by applying advanced geological and geophysical methods to high potential exploration properties located in the productive gold mining regions of Nevada. The Company currently holds a lease on one property, the Tempo prospect, located approximately 20 miles northwest of Austin, Nevada. Tempo consists of 206 contiguous unpatented lode claims, totaling about 4000 acres, and is located within the north-south trending Rabbit Creek Gold Trend. The Company’s current plan is to explore for gold at Tempo and to acquire future exploration prospects, and ultimately to develop Nevada Gold Holdings into a successful exploration company.
More information about the Company may be found at: www.nevadagoldholdings.com
Forward-Looking Statements
Certain statements in this press release that are not historical facts are "forward-looking statements." Such statements may be identified by the use of words such as "anticipate," "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to: (i) the Company's ability to obtain sufficient capital to fund its current and proposed planning, exploratory, and drilling activities; (ii) the risk that a commercially exploitable gold deposit will not be found on the Company’s property; (iii) the Company’s ability to locate and acquire future exploration prospects; (iv) the Company’s ability to attract and retain qualified professionals; (v) the price of gold on the world markets; (vi) competitive factors and developments beyond the Company's control; and (viii) other risk factors discussed in the Company's periodic filings with the Securities and Exchange Commission, which are available for review at www.sec.gov under "Search for Company Filings."
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