NEVADA KING MOBILIZES A FOURTH RIG TO ATLANTA, RESUMES CORE DRILLING FOR ONGOING METALLURGICAL TESTING PROGRAM AND RESOURCE CONFIRMATION
- Mobilization of diamond core drill to Atlanta Gold Mine Project will aid in ongoing metallurgical testing and confirmation of RC hole results.
- Expansion of mineralization northward, southward, and westward outside of the resource model through drilling.
- None.
- Core drilling will focus on a series of six strategically placed PQ holes totaling 1,480m along high-grade corridors in and around the historic Atlanta Pit that will be used for the ongoing metallurgical testing program as well as confirmation of proximal RC hole results.
- The Company continues to utilize one RC rig to define deeper mineralization within the West Atlanta Graben ("WAG") while a second RC rig is targeting shallower mineralization along the Atlanta Mine Fault Zone with closer-spaced drilling designed to better define high-grade zones discovered by
Nevada King within the main resource area. A third RC rig is currently drilling a series of widely spaced exploration holes at the Western Knolls prospect, located 5.5km west of the Atlanta Pit, testing a variety of geochemical and geophysical anomalies. - From inception of the Phase I drill program in June 2021, into the continuation of Phase II,
Nevada King has drilled 346 RC holes totaling 55,186m and 17 core holes totaling 1,398m, for a total of 56,584m. Assays from 234 drill holes totaling 32,876m have been reported with results pending for 129 drill holes totaling 22,314m. - The existing resource model (Table 1 below) at
Atlanta is based on 71 historic drill holes and does not incorporate any of the Phase I or II drilling completed byNevada King to date – drilling that continues to expand mineralization northward and southward outside of the resource model, as well as westward into the WAG.
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").
2023 Shareholder Meeting Results
- Setting the number of directors to be elected at the Meeting at four (4);
- Electing all nominee directors to the board of directors of the Company for the ensuing year;
- Appointing Davidson & Company LLP, Chartered Professional Accountants, as auditor of the Company to hold office until the next annual meeting of Shareholders, or until a successor is appointed, and authorizing the directors of the Company to fix the remuneration of the auditor; and
- Approving the stock option plan of the Company.
Votes representing 114,888,492 shares or
Motion | Votes For | Votes Against | Votes Withheld |
Number of Directors | 114,776,331 (99.90 %) | 112,161 (0.10 %) | N/A |
Election of Directors:1 | |||
Paul Matysek | 80,133,803 (90.31 %) | N/A | 8,595,520 (9.68 %) |
Collin Kettell | 80,141,436 (90.32 %) | N/A | 8,587,887 (9.68 %) |
Craig Roberts | 84,671,288 (95.43 %) | N/A | 4,058,035 (4.57 %) |
William Hayden | 84,645,580 (95.40 %) | N/A | 4,083,743 (4.60 %) |
Appointment of Auditor2 | 114,693,349 (99.83 %) | N/A | 131,641 (0.11 %) |
Approval of Stock Option Plan3 | 87,039,929 (98.29 %) | 1,515,093 (1.71 %) | N/A |
____________________________________ |
1 26,159,169 votes not submitted by participants/brokerage houses |
2 63,502 votes not submitted by participants/brokerage houses |
3 26,33,470 votes not submitted by participants/brokerage houses |
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 1. 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.
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.