NEVADA KING INTERSECTS 53.8M OF 4.10 G/T AU, 35.1M OF 3.59 G/T AU AND 24.4M OF 1.76 G/T AU WITH 440.6 G/T AG AT ATLANTA

Rhea-AI Summary

Nevada King Gold Corp. (TSXV: NKG) (OTC: NKGFF) has announced assay results from twenty reverse circulation holes and one core hole at its Atlanta Gold Mine Project in Nevada. Highlights include:

- Hole AT23NS-120C: 53.8m of 4.10 g/t Au and 32.9 g/t Ag
- Hole AT23NS-171: 35.1m of 3.59 g/t Au and 37.1 g/t Ag
- Hole AT23NS-172: 24.4m of 1.76 g/t Au and 440.6 g/t Ag

The results confirm high-grade mineralization in the Atlanta Mine Fault Zone and West Atlanta Graben Zone. The company's relogging campaign has identified two distinct types of intrusive or silica breccia units, which will inform future exploration efforts. Nevada King plans to use this new understanding in its regional exploration program, relying on CSAMT signatures to identify additional mineralized zones.

Positive

• High-grade gold intercepts, including 53.8m of 4.10 g/t Au and 35.1m of 3.59 g/t Au
• Strong silver values, with one hole reporting 440.6 g/t Ag over 24.4m
• Improved understanding of mineralization types, enhancing future exploration potential
• Identification of two distinct intrusive breccia units, aiding in targeting new mineralized zones
• Ongoing regional exploration program guided by new geological insights and CSAMT data

Negative

• None.

VANCOUVER, BC, Sept. 23, 2024 /PRNewswire/ - Nevada King Gold Corp. (TSXV: NKG) (OTC: NKGFF) ("Nevada King" or the "Company") is pleased to announce assay results from twenty reverse circulation ("RC") holes and one core hole recently completed at its Atlanta Gold Mine Project located 264km northeast of Las Vegas, Nevada, in the prolific Battle Mountain Trend. Today's holes are plotted in plan and along sections 22-10N(4), 22-11N(3), 22-12N, and 22-13N, (Figures 1-5).

Highlights:

Hole No.	From (m)	To (m)	Interval (m)	Au (g/t)	Ag (g/t)	Section
AT23NS-120C+	15.4	69.2	53.8	4.10	32.9	10N(4)
Including	60.1	63.1	3.0	17.98	63.0	10N(4)
AT23NS-164	149.4	190.5	41.2	2.25	100.3	10N(4)
AT23NS-165	155.5	205.8	50.3	1.29	108.5	10N(4)
AT23NS-171*	118.9	154.0	35.1	3.59	37.1	12N
Including	138.7	141.8	3.0	18.88	48.2	12N
AT23NS-172	123.5	147.9	24.4	1.76	440.6	12N

Table 1. Highlighted holes released today. True thickness of mineralization along the steeply dipping West Atlanta Fault in holes NS-164 and NS-165 is estimated to be 35% to 65% of reported drill intercept length, while true thickness in the other holes is estimated to be 85% to 95% of reported intercept length. *Denotes holes bottoming in mineralization. +Denotes core holes.

• Shallow high-grade mineralization (4.10 g/t Au over 53.8m) in core hole AT23NS-120C begins just 15.4m beneath the pit floor along the eastern boundary of the Atlanta Mine Fault Zone ("AMFZ") and is being used for ongoing Phase II metallurgical test work (Figure 2).
  
  
• AT23NS-171 and AT23NS-172 (Figures 3 and 4) were sited to fill in drill gaps along the AMFZ and intersected 3.59 g/t Au over 35.1m and 1.76 g/t Au over 24.4m, respectively. Strong silver values of 440.6 g/t Ag accompany the gold intercept in AT23NS-172. These holes confirm that mineralization is relatively flat-lying across the central portion of the AMFZ, with higher-grade mineralization hosted in silicified rhyolitic intrusions that moved laterally eastward from the West Atlanta Fault ("WAF") along a gently west-dipping erosional unconformity.
  
  
• AT23NS-164 (2.25 g/t Au over 41.2m) and AT23NS-165 (1.29 g/t Au over 50.3m) were positioned across a drill gap on the eastern edge of the West Atlanta Graben Zone ("WAGZ") just west of the WAF. Mineralization is largely hosted within silicified rhyolitic intrusive rock occurring along the hanging wall side of the steeply-dipping WAF, although strongly silicified Paleozoic basement rock beneath the silicified intrusive hosts mineralization as well.
  
  
• Both types of strong silicification had previously been lumped into the silica breccia unit, but the Company's relogging campaign at Atlanta has now shown most of the silica breccia unit to consist of rhyolitic intrusive breccia based on trace element enrichment in chromium coupled with depletion of titanium and magnesium. This is important because these intrusions appear to have played a major role in decalcifying carbonate host rocks and subsequently depositing Au/Ag throughout the Atlanta deposit, which has significant implications as the Company looks for new mineralized zones within the carbonate-dominated regional targets recently identified north and east of the resource zone (released September 17, 2024).

Cal Herron, Exploration Manager of Nevada King, stated, "Drilling completed in and around the Atlanta resource zone continues to inform our understanding behind the genesis of gold deposition at Atlanta. Throughout the West Atlanta Graben Zone and up on the East Ridge Target, we know that rhyolitic intrusions related to gold mineralization show up in the CSAMT data as low resistivity zones. The Company has identified numerous additional CSAMT low resistivity zones scattered throughout the Atlanta district where other such intrusive activity may have occurred. 

"Based on our ongoing relogging program, we now recognize that there are two distinct types of intrusive or silica breccia units ("SBX") found at Atlanta – one associated with altered dolomite that rarely hosts gold mineralization outside of the resource zone and the second related to rhyolitic intrusions, which does often host gold mineralization. As the regional drilling begins, this distinction between these two SBX units will play an important role. SBX found to be high in chromium and low in titanium/magnesium will indicate that we are near to a rhyolitic event and with more searching, can reasonably expect to find gold mineralization. On the other hand, SBX encountered with elevated magnesium and low chromium values can be quickly tagged as altered dolomite and disregarded if no anomalous gold is present. Armed with this new exploration model, we feel added confidence in our regional exploration program as we rely on CSAMT signatures, looking for additional (and in many cases larger) intrusive-related mineralized zones."

Hole No.	From (m)	To (m)	Interval (m)	Au (g/t)	Ag (g/t)	Section
AT23NS-120C+	15.4	6932	53.8	4.10	32.9	10N(4)
Including	60.1	63.1	3.0	17.98	63.0	10N(4)
AT23NS-164	149.4	190.5	41.2	2.25	100.3	10N(4)
AT23NS-165	155.5	205.8	50.3	1.29	108.5	10N(4)
AT23WS-65	355.2	382.6	27.4	1.09	16.3	11N(3)
AT23NS-172	123.5	147.9	24.4	1.76	440.6	11N(3)
AT24WS-66*	336.9	367.4	30.5	1.05	17.2	12N
AT22NS-86	61.0	88.4	27.4	1.10	22.1	12N
AT23NS-118	265.2	311.0	45.7	0.71	9.4	12N
AT23NS-169	178.4	202.7	24.4	2.45	55.5	12N
AT23NS-170	91.5	157.0	65.5	1.52	44.4	12N
AT23NS-171*	118.9	154.0	35.1	3.59	37.1	12N
Including	138.7	141.8	3.0	18.88	48.2	12N
AT21-18B^	0.0	4.6	6.7	0.15	22.97	13N
AT22NS-32	112.8	122.0	9.1	0.23	8.7	13N
AT22NS-33	35.1	45.7	10.7	0.47	118.2	13N
AT22NS-34	86.9	132.6	45.7	0.49	41.2	13N
AT22NS-35	27.4	36.6	9.1	0.44	44.9	13N
AT23WS-37	336.9	368.9	32.0	1.02	9.2	13N
AT22NS-93	176.8	201.2	24.4	1.53	24.9	13N
AT23NS-126	161.6	199.7	38.1	0.76	20.4	13N
AT23NS-132	189.0	236.3	47.3	1.25	30.3	13N

Table 2. All holes released today. Mineralization along the northerly-trending West Atlanta Fault occurs within an intrusive breccia zone dipping 60 to 70 west, and true mineralized thickness is estimated to be 35% to 65% of reported intercept lengths. Holes along the northerly-trending AMFZ and within the West Atlanta Graben occur within gently dipping silica breccia above the Paleozoic unconformity with true mineralized thickness of 85% to 95% of reported intercept lengths. * Denotes holes bottoming in mineralization. ^ Denotes angle holes. + Denotes core holes.

 

Hole No.	From (m)	To (m)	Interval (m)	Au (g/t)	Ag (g/t)	Section
AT22HG-18	257.6	291.2	33.5	2.35	363.0	10N(4)
AT23HG-26*	279.0	317.1	38.1	0.82	27.0	10N(4)
AT23WS-27	193.6	256.1	62.5	1.78	3.7	10N(4)
AT22NS-43A	3.0	30.5	27.4	1.02	21.2	10N(4)
AT22NS-46	4.6	59.5	54.9	3.41	26.0	10N(4)
AT22NS-47	64.0	89.9	25.9	2.04	27.8	10N(4)
AT23NS-48	91.5	112.8	21.3	1.27	35.1	10N(4)
AT22NS-49	62.5	88.4	25.9	3.73	46.1	10N(4)
Including	67.1	74.7	7.6	6.33	28.8	10N(4)
AT22NS-50	89.9	108.2	18.3	3.68	27.1	10N(4)
Including	93.0	99.1	6.1	7.09	33.1	10N(4)
AT22NS-89*	172.3	213.4	41.2	0.4	67.8	10N(4)
AT22NS-90	182.9	222.6	39.7	0.82	52.3	10N(4)
AT23NS-96	105.2	135.7	30.5	0.94	51.0	10N(4)
AT23NS-120	33.5	71.6	38.1	1.14	43.4	10N(4)
AT23NS-124	12.2	86.9	74.7	2.37	43.9	10N(4)
AT23NS-129	109.8	143.3	33.5	1.14	31.4	10N(4)
90-2	135.7	173.8	38.1	0.99	90.4	10N(4)
AR-02	182.9	205.7	22.8	1.72	46.9	10N(4)
AR-24	36.6	38.1	1.5	0.13	5.48	10N(4)
AT23WS-24	324.7	376.5	51.8	1.79	21.1	11N(3)
AT23WS-26	306.4	336.9	30.5	0.33	3.2	11N(3)
AT23WS-38	327.7	378.0	50.3	0.97	5.2	11N(3)
AT22NS-40	15.2	79.3	64.0	1.45	32.7	11N(3)
AT22NS-42	61.0	80.8	19.8	1.82	31.0	11N(3)
AT23NS-44	100.6	123.5	22.9	2.39	48.0	11N(3)
AT22NS-45	70.1	106.7	36.6	1.35	35.0	11N(3)
AT21-61	3.0	36.6	33.6	0.60	16.7	11N(3)
AT22NS-92	181.4	231.7	50.3	1.07	64.0	11N(3)
AT22NS-95	129.6	155.5	25.9	1.63	67.3	11N(3)
AT23NS-106	268.3	309.5	41.2	0.84	14.1	11N(3)
AT23NS-107	266.8	306.4	39.6	1.15	16.4	11N(3)
AT23NS-122	19.8	77.7	57.9	1.43	24.0	11N(3)
AT23NS-128	79.3	125.0	45.7	1.12	58.8	11N(3)
AT23NS-166	158.5	182.9	24.4	1.93	51.3	11N(3)
DHRI-11-NRC05	312.5	373.5	61.0	1.61	9.09	11N(3)
88-10	70.1	118.9	48.8	0.37	18.0	12N
KR98-19	192.0	216.4	24.4	1.23	44.63	12N
KR98-20	144.8	204.3	59.5	0.58	8.92	12N
DHRI-11-19C+	432.8	434.3	1.5	1.09	0.10	12N
DHRI-11-NRC06	300.2	355.1	54.9	0.49	11.5	12N
DHRI-15-LRC03*	289.5	338.3	48.8	1.26	5.31	12N
DHRI-15-LRC05	312.4	338.3	25.9	1.0	2.47	12N
DHRI-15-LRC06	303.3	341.4	38.1	0.51	1.96	12N
AT22RC-15	54.9	97.6	42.7	0.25	20.7	13N
AT21-18A	4.6	50.3	45.7	0.89	65.76	13N
AT21-19	16.8	29.0	12.2	0.11	<0.5	13N
AT21-20	19.8	27.4	7.6	<0.5	<0.5	13N
DHRI-11-02C^+	86.9	105.1	18.2	0.45	85.01	13N
DHRI-11-21C*	326.1	362.1	30.0	0.42	8.82	13N
DHRI-15-LRC04	297.2	339.9	42.7	0.74	2.07	13N

Table 3. Previously released holes drilled by Nevada King and historic operators. Mineralization along the West Atlanta Fault is estimated to be 35% to 65% of reported intercept lengths, while true thickness in holes along the AMFZ and within the West Atlanta Graben are estimated to be of 85% to 95% of reported intercept lengths.  AT series holes drilled by Nevada King in 2021 to 2023. DHRI series holes drilled by Meadow Bay in 2011 and 2015. 90 series holes drilled by Goldfields in 1990. 88 series holes drilled by Bobcat in 1988. *Denotes holes bottoming in mineralization. ^ Denotes angle drill holes. + Denotes core holes.

QAQC Protocols

All 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 Reno, Nevada, with full custody being maintained at all times. At American Assay Lab, samples were weighed then crushed to 75% passing 2mm and pulverized to 85% passing 75 microns in order to produce a 300g pulverized split. Prepared samples are initially run using a four acid + boric acid digestion process and conventional multi-element ICP-OES analysis. Gold assays are initially run using 30-gram samples by lead fire assay with an OES finish to a 0.003 ppm detection limit, with samples greater than 10 ppm finished gravimetrically. Silver samples that run greater than 100ppm are also finished gravimetrically. Every sample is also run through a cyanide leach for gold with an ICP-OES finish. The QA/QC procedure involves regular submission of Certified Analytical Standards and property-specific duplicates.

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").

About Nevada King Gold Corp.

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, Lincoln County, NV" with an effective date of October 6, 2020, and a report date of December 22, 2020, as prepared by Gustavson Associates and filed under the Company's profile on SEDAR+ (www.sedarplus.ca).

Resource Category	Tonnes (000s)	Au Grade (ppm)	Contained Au Oz	Ag Grade (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
Table 4. NI 43-101 Mineral Resources at the Atlanta Mine

Please see the Company's website at www.nevadaking.ca.

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.

Cautionary Statements Regarding Forward Looking Information

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, 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.

View original content to download multimedia:https://www.prnewswire.com/news-releases/nevada-king-intersects-53-8m-of-4-10-gt-au-35-1m-of-3-59-gt-au-and-24-4m-of-1-76-gt-au-with-440-6-gt-ag-at-atlanta-302255068.html

SOURCE Nevada King Gold Corp.

FAQ

What were the key gold intercepts reported by Nevada King Gold Corp (NKGFF) in the Atlanta Gold Mine Project?

The key gold intercepts reported include 53.8m of 4.10 g/t Au in hole AT23NS-120C, 35.1m of 3.59 g/t Au in hole AT23NS-171, and 24.4m of 1.76 g/t Au with 440.6 g/t Ag in hole AT23NS-172.

How has Nevada King Gold Corp's (NKGFF) relogging campaign improved their understanding of the Atlanta deposit?

The relogging campaign has identified two distinct types of intrusive or silica breccia units: one associated with altered dolomite that rarely hosts gold mineralization outside the resource zone, and another related to rhyolitic intrusions that often hosts gold mineralization. This distinction will play an important role in future exploration efforts.

What exploration method is Nevada King Gold Corp (NKGFF) using to identify potential new mineralized zones at the Atlanta project?

Nevada King is using CSAMT (Controlled Source Audio-frequency Magnetotellurics) signatures to identify low resistivity zones that may indicate rhyolitic intrusions related to gold mineralization. This method, combined with their new understanding of intrusive breccia types, is guiding their regional exploration program.

Where is Nevada King Gold Corp's (NKGFF) Atlanta Gold Mine Project located?

The Atlanta Gold Mine Project is located 264km northeast of Las Vegas, Nevada, in the Battle Mountain Trend.