NEVADA KING INTERCEPTS HIGH-GRADE OXIDE GOLD AT ATLANTA INCLUDING 2.98 G/T AU OVER 67.1M, 2.54 G/T AU OVER 65.5M, AND 2.16 G/T AU OVER 47.3M
Nevada King Gold Corp. (TSXV: NKG, OTCQX: NKGFF) announced promising assay results from six vertical reverse circulation drill holes at its Atlanta Gold Mine Project, located northeast of Las Vegas. Key findings show significant intercepts of high-grade gold mineralization, notably in hole AT22NS-87 with 47.3m at 2.16 g/t Au and AT22NS-88 with 45.7m at 1.28 g/t Au. The drilling targeted areas previously unexamined, revealing new high-grade zones previously missed in historic drilling efforts. The Atlanta Mine hosts a NI 43-101 compliant resource of 460,000 oz Au in measured and indicated categories, reflecting strong potential for further resource expansion. As of April 2023, the company is well-funded with approximately $7.25 million in cash, supporting ongoing exploration efforts.
- High-grade gold intercepts reported, e.g., AT22NS-87 with 47.3m @ 2.16 g/t Au.
- New high-grade zones identified that were missed in historical drilling.
- Strong continuity in mineralization observed across drill sections.
- Company well-funded with approximately $7.25 million in cash.
- None.
Highlights:
Hole No. | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) | Notes | ||
AT22HG-11 | 228.7 | 250.0 | 21.3 | 1.26 | 85.1 | Bottomed in Mineralization | ||
AT22NS-87 | 169.2 | 216.5 | 47.3 | 2.16 | 140.2 | |||
includes | 175.3 | 182.9 | 7.6 | 4.57 | 227.6 | |||
AT22NS-88 | 169.2 | 214.9 | 45.7 | 1.28 | 162.0 | |||
AT23NS-65 | 79.3 | 117.4 | 38.1 | 1.79 | 52.5 | |||
AT23NS-58 | 42.7 | 108.2 | 65.5 | 2.54 | 62.9 | |||
includes | 86.9 | 100.6 | 13.7 | 4.97 | 53.0 | |||
AT23NS-64 | 41.2 | 108.2 | 67.1 | 2.98 | 62.1 | Bottomed in Mineralization | ||
includes | 57.9 | 102.1 | 44.2 | 4.05 | 66.0 | |||
Table 1: All holes released today. Mineralization occurs along sub-horizontal horizons generally dipping gently westward; true mineralized thickness in vertical holes is estimated to be between |
- Holes released today plotted on Section 22-9N were drilled across the high-grade feeder zone associated with several strands of a braided network of structures comprising the 150m-wide
Atlanta Mine Fault Zone ("AMFZ"), which lies between theEast Atlanta and West Atlanta Faults (see Figure 1). These vertical holes intercepted new areas of high-grade gold mineralization on this section that were not intercepted in historic drilling. These new high-grade areas were targeted based on Nevada King's recent revised modelling of gold mineralization across this section line which differs significantly from historic interpretations. - Shown in Figure 2, the highest gold grades occur within blocks between the
Atlanta King and East Atlanta Faults as evidenced by AT23NS-58 and AT23NS-64 (Table 1) and nearby holes AT21-63 and AT22NS-59 (Table 2). Historical angle holes drilled by Goldfields,Kinross , andMeadow Bay largely passed beneath and missed this 40m-wide, shallow high-grade zone. - In similar fashion, a 30m-wide block on the eastern side of the West Atlanta Fault is also host to higher-grades, as seen in AT22NS-87 and 88. A number of historical angle holes did intersect this zone, but very few of them fully sampled the complete mineralized thickness. Significant differences are apparent in gold grades and thicknesses in today's NS-87 and NS-88 (47.3m @ 2.16 g/t and 45.7m @ 1.28 g/t) compared to
Kinross angle holes KR97-3 and KR97-4 (24.4m @ 0.97 g/t and 27.4m @ 0.85 g/t). - The upthrown "horst" block immediately west of the
Atlanta King Fault typically hosts more moderate grades and thicknesses compared to the two high-grade zones on either side of it. However, AT22NS-65 tested this horst block and returned 1.79 g/t Au over 38.1m, which is generally thicker and higher grade compared to sections further south. - Hole AT22HG-11, collared west of the West Atlanta Fault penetrated mineralized volcanics in the West Atlanta Graben target but was lost at a shallow depth, bottoming in mineralization. Drilling across the West Atlanta Graben along the western extension of line 22-9N will commence shortly, filling in a large information gap that currently exists within the historical drill pattern.
- Nevada King's holes along 22-9N are very similar in grade and mineralized thickness to holes previously released along Sections 22-5N, 22-6N, 22-7N, and 22-08N. The same pattern of: (1) high-grade grabens between the
East Atlanta andAtlanta King Faults, (2) the moderate grade horst block west of theAtlanta King fault, and (3) the high-grade graben block east of the West Atlanta Fault, is repeated southward along each section, demonstrating excellent continuity of mineralization.
Hole No. | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) | Notes |
AT22NS-59 | 4.6 | 54.9 | 50.3 | 2.65 | 20.7 | |
AT22MET-1B | 7.8 | 22.6 | 14.8 | 3.76 | 69.0 | Bottomed in Mineralization |
AT21-63 | 7.6 | 48.8 | 41.2 | 3.95 | 27.3 | Bottomed in Mineralization |
KR97-2 | 187.5 | 213.4 | 25.9 | 1.79 | 13.0 | |
KR97-3 | 195.1 | 219.5 | 24.4 | 0.97 | 29.4 | |
KR97-4 | 218 | 245.4 | 27.4 | 0.85 | 70.2 |
Table 2: Previously reported and historic holes used in Section 22-9N. AT22 series holes were drilled by Nevada King in 2022 while the AT21 series hole was drilled by Nevada King in 2021. KR97 series angle holes were drilled by |
Qualified Person
The scientific and technical information in this news release has been reviewed and approved by
Nevada King is the third largest mineral claim holder in the
The Company is well funded with cash of approximately
NI 43-101 Mineral Resources at the
Resource Category | Tonnes (000's) | (ppm) | Contained Au Oz | (ppm) | Contained Ag Oz |
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.
Neither the
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 Nevada King, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements in this news release relate to, among other things, the Company's exploration plans and the Company's ability to potentially expand mineral resources and the impact thereon. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by Nevada King, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the ability to complete proposed exploration work given the global COVID-19 pandemic, the results of exploration, continued availability of capital, and changes in general economic, market and business conditions. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. Nevada King does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.
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