NEVADA KING INTERCEPTS 3.18 G/T AU OVER 44.2M, INCLUDING 8.25 G/T OVER 13.7M AT ATLANTA, EXTENDS WEST ATLANTA GRABEN MINERALIZATION WESTWARD
Highlights:
Hole No. | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) | Notes |
AT23HG-25 | 271.3 | 315.5 | 44.2 | 3.180 | 53.2 | |
Includes | 292.7 | 306.4 | 13.7 | 8.253 | 13 | |
AT23HG-26 | 279.0 | 317.1 | 38.1 | 0.817 | 27 | Bottomed in Mineralization |
AT23NS-96 | 105.2 | 135.7 | 30.5 | 0.944 | 51.0 | |
AT23WS-27 | 306.4 | 349.1 | 42.7 | 0.328 | 14.3 | Bottomed in Mineralization |
Table 1: Highlight holes released today along Section 22-10N(2). Mineralization occurs along sub-horizontal horizons |
- Hole AT22-HG-18 reported April 20, 2023 was collared along the east side of the West Atlanta Graben ("WAG") and returned highlight intervals of 33.5m grading 2.35 g/t Au and 363 g/t Ag including 1.08 kg/t Ag over 10.7m. Today's AT23HG-25 (44.2m @ 3.18 g/t Au and 53 g/t Ag) is located 14m west of AT22HG-18, thus extending the high-grade mineralization further westward into the WAG from the West Atlanta Fault (see Figure 2).
- AT23HG-26 stepped out a further 23m west of AT23HG-25 and was planned to deepen AR-1 (19.9m @ 0.41 g/t), a historical hole which did not penetrate into the gold-bearing silica breccia zone. While AT23HG-26 only partially penetrated the silica breccia, in turn bottoming in mineralization, it intercepted 38.1m of 0.82 g/t Au, which is considerably thicker and higher grade compared to the 19.9m of 0.41 g/t reported in AR-1.
- AT23WS-27 stepped a further 36m west into the WAG and returned 42.7m @ 0.328 g/t Au and 14.3 g/t Ag, providing further confirmation that higher grades are concentrated in a halo around the fault structures and decrease more distally into the graben.
- Drilling is currently ongoing with further step outs to the west in the approximately 100m gap between AT23WS-27 and historical hole DHRI-11-NRC-7, where grades may pick back up again approaching the West Atlanta Fault #2 (WAF2), as seen along sections to the north and south.
- It is important to note the large difference in intercept grade across the WAG in the historical holes versus
Nevada King's holes. In the Gustavson 2020 resource model, only two historical holes were drilled in this area, DHRI-11-NRC-7 and AR-1. Both are dramatically lower in grade compared toNevada King's closer spaced holes (AT23WS-27, AT23HG-26, AT23HG-25, AT22HG-18, AT22NS-89, AT22NS-90). On a weighted average basis, the two historical holes average 0.25 g/t Au and 24.7 g/t Ag over 39m, while the Company's six holes average 1.41 g/t Au and 88.0 g/t Ag over 40m. - Numerous historical holes were collared within the WAG, but as seen in Figure 2 with Kinross angle holes KR98-2 and KR98-11, these holes failed to reach the mineralized zone, leaving a sizeable data gap between DHRI-11-NRC-7 and AR-1. This same gap occurs north and south of Section 22-10N(2) – gaps the Company is currently filling with more closely spaced vertical holes that stand a good chance of similarly boosting average grade.
Cal Herron, Exploration Manager of
Hole No. | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) | Notes |
AT22HG-18 | 257.6 | 291.2 | 33.5 | 2.35 | 363.0 | Bottomed in mineralization |
includes | 259.1 | 269.8 | 10.7 | 5.27 | 1084.1 | |
AT22NS-89 | 172.3 | 213.4 | 41.2 | 0.94 | 67.8 | Bottomed in mineralization |
AT22NS-90 | 182.9 | 222.6 | 39.7 | 0.82 | 52.3 | |
AT23NS-48 | 91.5 | 112.8 | 21.3 | 1.27 | 35.1 | |
AT22NS-50 | 89.9 | 108.2 | 18.3 | 3.68 | 27.1 | |
includes | 93.0 | 99.1 | 6.1 | 7.09 | 33.1 | |
AT22NS-47 | 64.0 | 89.9 | 25.9 | 2.04 | 27.8 | |
AT22NS-49 | 62.5 | 88.4 | 25.9 | 3.73 | 46.1 | |
Including | 67.1 | 74.7 | 7.6 | 6.33 | 28.8 | |
AT22NS-43 | 0.0 | 27.4 | 27.4 | 1.97 | 25.1 | Bottomed in mineralization |
Table 2: All holes reported today along Section22-10N(2). Mineralization occurs along sub-horizontal horizons generally |
Hole No. | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) | Notes |
AT21-65 | 3.0 | 51.8 | 48.8 | 2.32 | 32.9 | |
AR-1 | 283.5 | 303.4 | 19.9 | 0.41 | 16.2 | Bottomed in mineralization |
AR-2^ | 182.9 | 205.8 | 22.9 | 1.72 | 47.0 | |
90-2 | 135.7 | 173.8 | 38.1 | 0.99 | 90.4 | |
DHRI-11-NRC-7 | 295.7 | 371.9 | 58 | 0.19 | 27.6 | Aggregate grades |
Table 3: Previously reported and historic holes used in Section 22-10N(2). AT21 series hole was drilled by |
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Qualified Person
The scientific and technical information in this news release has been reviewed and approved by Calvin R. Herron, P.Geo., who is a Qualified Person as defined by National Instrument 43-101 ("NI 43-101").
The Company is well funded with cash of approximately
The Atlanta Mine is a historical gold-silver producer with a NI 43-101 compliant pit-constrained resource of 460,000 oz Au in the measured and indicated category (11.0M tonnes at 1.3 g/t) plus an inferred resource of 142,000 oz Au (5.3M tonnes at 0.83 g/t). See the NI 43-101 Technical Report on Resources titled "Atlanta Property,
NI 43-101 Mineral Resources at the Atlanta Mine
Resource Category | Tonnes (000s) | Au Grade (ppm) | Contained Au | Ag Grade (ppm) | Contained Ag |
Measured | 4,130 | 1.51 | 200,000 | 14.0 | 1,860,000 |
Indicated | 6,910 | 1.17 | 260,000 | 10.6 | 2,360,000 |
Measured + Indicated | 11,000 | 1.30 | 460,000 | 11.9 | 4,220,000 |
Inferred | 5,310 | 0.83 | 142,000 | 7.3 | 1,240,000 |
Please see the Company's website at www.nevadaking.ca.
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SOURCE Nevada King Gold Corp.