NEVADA KING INTERCEPTS 4.01 G/T AU OVER 21.3M & 3.69 G/T AU OVER 13.7M, EXPANDS OXIDE MINERALIZATION WITHIN "NORTH EXTENSION TARGET" 600M NORTH OF ATLANTA PIT
NET Highlights:
Hole No. | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) |
AT23NS-109 | 225.6 | 239.3 | 13.7 | 3.69 | 1.3 |
AT23NS-110* | 175.3 | 201.2 | 25.9 | 1.21 | 3.3 |
AT23NS-112 | 155.5 | 176.8 | 21.3 | 4.01 | 6.7 |
AT23NS-127 | 117.4 | 146.3 | 28.9 | 0.96 | 1.5 |
AT23NS-15A | 160.1 | 179.9 | 19.8 | 1.31 | 12.1 |
Table 1. Highlight holes reported today from the North Extension Target. *Denotes hole that bottomed in mineralization. True widths are estimated to be |
- Today's release outlines an area of shallowly hosted oxide gold mineralization spanning 250m long x 250m wide (outlined in purple in Figure 1) located approximately 600m north of the historic Atlanta Pit, along the northerly-trending Atlanta Mine Fault Zone ("AMFZ"). This mineralization occurs within the overall NET target area (shaded red in Figure 1), which was originally identified through limited historical drilling, but was not pursued through more detailed drilling due to low grades and lean thicknesses.
Nevada King's intercept of 8.26 g/t Au over 9.1m within 4.64 g/t Au over 18.3m in AT21-003 (November 22, 2021) was the first high-grade intercept at this target and transformed the Company's interpretation of the NET's potential. Subsequent intercepts including 1.67 g/t Au over 24.4m in AT22NS-13 (November 23, 2022) and 1.83 g/t Au over 21.3m in AT22NS-15 (December 20, 2022) further expanded the interpreted envelope of higher-grade "core" mineralization localized along the AMFZ.- As seen in Figures 2-8, mineralization occurs along a gently west-dipping horizon developed at the contact between basal Ordovician age dolomite and overlying Tertiary age volcanics. This contact is vertically displaced 60m to 80m across the northerly-trending AMFZ with the west side down.
- The highest grade intervals are found proximal to the AMFZ along a 50m-wide corridor centred on the fault zone, as demonstrated by 4.01 g/t Au over 21.3m in AT23NS-112. Gold grades tend to gradually decrease westward and eastward from the AMFZ, although high-grade does occur outside of this corridor at the intersection of secondary faults or feeders, including highlight hole AT23NS-109 grading 3.69 g/t Au over 13.7m, 100m west of the AMFZ.
- Mineralization within the NET shows strong lateral continuity and remains open to the south, west, and east, where it gradually shallows east of AT23NS-127 and trends into the currently untested East Ridge Target. The Company will focus additional drilling near to and east of the AMFZ with the goal of expanding the resource to include this area, where grades and thicknesses may be shallow enough to support stripping in a potential mining scenario. NET mineralization is not included in the existing resource.
Cal Herron, Exploration Manager of
Hole No. | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) |
AT23NS-108 | 182.9 | 210.4 | 27.4 | 0.31 | 4.0 |
AT23NS-109 | 225.6 | 239.3 | 13.7 | 3.69 | 1.3 |
AT23NS-110* | 175.3 | 201.2 | 25.9 | 1.21 | 3.3 |
AT23NS-111 | 175.3 | 190.5 | 15.2 | 0.49 | 1.2 |
AT23NS-112 | 155.5 | 176.8 | 21.3 | 4.08 | 6.7 |
AT23NS-113 | 256.1 | 297.3 | 41.2 | 0.40 | 5.4 |
AT23NS-114 | 190.5 | 227.1 | 36.6 | 0.77 | 5.8 |
AT23NS-115 | 218.0 | 231.7 | 13.7 | 0.82 | 7.1 |
AT23NS-127 | 122.0 | 146.3 | 29 | 0.96 | 1.5 |
AT23NS-10A | 105.2 | 144.8 | 39.6 | 0.68 | 2.0 |
AT23NS-15A | 160.1 | 179.9 | 19.8 | 1.31 | 12.1 |
AT23NS-19A | 170.7 | 176.8 | 6.1 | 0.28 | 7.1 |
AT21-002C^ | 86.3 | 104.6 | 18.3 | 0.56 | 1.4 |
Table 2: Full list of RC drill results reported today from the NET. *Denotes hole that bottomed in mineralization. ^Denotes core hole. True widths are estimated to be |
Hole No. | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) |
AT22NS-9 | 86.9 | 128.0 | 41.2 | 0.65 | <0.5 |
AT22NS-11 | 102.1 | 125.0 | 22.9 | 1.36 | 0.5 |
AT22NS-12 | 175.3 | 195.1 | 19.8 | 1.77 | <0.5 |
AT22NS-13 | 135.7 | 160.1 | 24.4 | 1.67 | <0.5 |
AT22NS-RC14 | 99.1 | 143.3 | 44.2 | 0.71 | <0.5 |
AT22NS-15* | 155.5 | 176.8 | 21.3 | 1.83 | 5.5 |
AT22NS-16 | 91.5 | 106.7 | 15.2 | 0.54 | <0.5 |
AT22NS-17 | 85.4 | 114.3 | 28.9 | 0.59 | 2.7 |
AT22NS-19* | 166.2 | 179.9 | 16.8 | 0.31 | 2.5 |
AT21-001 | 94.5 | 131.1 | 25.9 | 1.00 | <0.5 |
AT21-002 | 82.3 | 105.2 | 22.9 | 0.71 | <0.5 |
AT21-003 | 155.5 | 173.8 | 18.3 | 4.64 | 11.18 |
AT21-004 | 85.4 | 118.9 | 33.5 | 0.735 | 1.35 |
AT21-005 | 99.1 | 103.7 | 4.6 | 0.418 | 3.37 |
AT21-006 | 163.1 | 175.3 | 12.2 | 0.959 | 9.8 |
AT21-007 | 91.5 | 111.3 | 19.8 | 1.010 | 2.18 |
KN98-10 | 198.2 | 211.9 | 13.7 | 1.19 | 1.02 |
KN98-11 | 230.2 | 247.0 | 16.8 | 2.73 | 0.83 |
DHRI-11-04RC | 103.7 | 123.5 | 19.8 | 0.474 | <.1 |
DHRI-11-05RC | 59.5 | 80.8 | 21.3 | 0.23 | 3.73 |
DHRI-11-07RC* | 105.2 | 108.2 | 3.0 | 1.15 | <0.5 |
DHRI-11-08RC | 120.4 | 143.3 | 22.9 | 0.300 | 3.8 |
DHRI-11-08C^ | 80.8 | 103.7 | 22.9 | 0.62 | <0.5 |
Table 3: Full list of previously released and historic drill results reported today from the North Extension Target. * Denotes holes that bottomed in mineralization. ^ Denotes core hole. |
Line # | Operator | No. of Holes | Average Au eq. | Average Thickness (m) | |
30N | NKG | 4 | 0.677 | 29.9 | |
Historical | 1 | 0.278 | 21.3 | ||
29N | NKG | 5 | 1.547 | 26.8 | |
Historical | 2 | 0.384 | 12.2 | ||
28N | NKG | 5 | 1.894 | 20.1 | |
Historical | 0 | - | - | ||
27N | NKG | 3 | 0.577 | 28.4 | |
Historical | 1 | 0.62 | 22.9 | ||
26N | NKG | 4 | 1.408 | 18.3 | |
Historical | 0 | - | - | ||
25N | NKG | 1 | 0.492 | 28.9 | |
Historical | 2 | 0.406 | 21.4 |
Table 4. Comparison of |
All Reverse Circulation (RC) samples from the Atlanta Project are split at the drill site and placed in cloth and plastic bags utilizing a nominal 2kg sample weight. CRF standards, blanks, and duplicates are inserted into the sample stream on-site on a one-in-twenty sample basis, meaning all three inserts are included in each 20-sample group. Samples are shipped by a local contractor in large sample shipping crates directly to American Assay Lab in
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 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,
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 |
Table 5. NI 43-101 Mineral Resources at the Atlanta Mine |
Please see the Company's website at www.nevadaking.ca.
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This news release contains certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating the future operations and activities of
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SOURCE Nevada King Gold Corp.