Nevada King Appoints Mr. Lewis Teal as Independent Technical Advisor to its Iron Point Project, Nevada
Nevada King Appoints Mr. Lewis Teal as
Independent Technical Advisor to its Iron Point
Project, Nevada
VANCOUVER, BC
,
May 19, 2021
/CNW/ -
Nevada King Gold Corp.
(TSXV: NKG)
("
Nevada King
"
or the "
Company
") is pleased to announce that Mr.
Lewis Teal
, M.Sc., B.Sc., has been appointed
as an independent technical advisor to its 100% owned Iron Point Project, Nevada. Additionally, the
Company is pleased to announce the appointment of Mr.
Geoff Sterling
as Project Manager at Iron
Point.
Highlights
Mr. Teal worked with Newmont for 27 years in several key roles, including as District
Exploration Team Technical Lead for Newmont's Carlin Trend Operations (1993-1999), Chief
Geologist Yanacocha Operations,
Peru
(2000-2001), and Exploration Manager and Group
Executive – Exploration and Early-Stage Development for Newmont South America (2006-
2015).
Mr. Teal was a senior member of Newmont's Carlin Exploration Team (1991-1999) thus
bringing extensive exploration and discovery experience in
Carlin
-type gold deposits to the Iron
Point project.
During his career he has been involved in multiple discoveries of gold and copper deposits
including in the Black Hills,
South Dakota
and
Carlin Trend
,
Nevada, USA
,
Peru
, Suriname and
French Guiana
.
Over the past eighteen months, Mr. Teal has overseen technical exploration efforts at Iron
Point. This program has included a comprehensive 3D model to incorporate all subsurface drill
hole information with the goal of delineating patterns and zoning associated with Lower Plate
carbonate hosted Carlin-type gold deposits.
Collin Kettell
, Founder & Chief Executive Officer of
Nevada King
, stated, "On behalf of the Company
I welcome Lew's continued technical involvement on the Iron Point project. His enthusiasm and
observations surrounding the vast gold signature in Upper Plate rocks and potential for high-grade
gold in the Lower Plate further enforces our confidence as we prepare to drill Iron Point in 2021."
Comments and Observations Provided by Mr.
Lewis Teal
:
"Regionally
Nevada King's
Iron Point project is located at the projected intersections of the
northwesterly trending Battle Mt. –
Cortez Trend
and the northeasterly trending
Getchell Trend
.
Combined endowments of these two regional gold belts, including historical production, reported
reserves, measured resources and exploration inventories, exceeds 150 million ounces.
Starting in the early 1970s and continuing into the early 2000s, previous drilling programs at Iron
Point by multiple companies have intersected extensive zones of shallow, anomalous to ore-grade
gold mineralization in Upper Plate rocks, which tends to be less conducive to hosting higher grade,
greater than 3.0 gram per ton, gold deposits.
Dating back to the early 1980s, previous historical drilling intercepts from 152 drill holes within the
greater Iron Point project area, that host gold intercepts greater than 0.1 grams per ton in Upper
Plate rocks are so prolific that they cover a cohesive footprint with dimensions extending NNW 10.3
x 1.9 Km, covering a known area of approximately 19.8 square kilometers (see Figure 1).
Consequently, these results are a direct indicator of the strong potential for deeper Carlin-type
mineral systems hosted in the Lower Plate carbonate rocks, that are more conducive to formation of
higher grade gold deposits. These deposits tend to occur geologically beneath lower grade gold
mineralization hosted in the near-surface, or at surface, in Upper Plate sedimentary rock
assemblage.
In 2019, Ethos Gold began an initial exploration program to specifically drill test for Lower Plate
hosted gold deposits. Scout drill hole VM-008C at Iron Point validated the exploration concept by
intersecting gold mineralization hosted in Lower Plate rocks, with the significant intervals of lower
grade gold mineralization up to 0.22 g/t Au. Importantly, the bottom six meters of the hole averaged
0.17 grams per ton, indicating higher grade gold mineralization may extend at depth. Additionally,
VM-008C intersected 17 meters averaging 101 grams per ton silver higher in the drill hole, near the
Upper Plate – Lower Plate contact zone.
Beginning in Q4 2020, follow-up exploration drill targeting efforts at Iron Point has involved an
encompassing systematic review, integration and modeling of all historical geology, multi-element
surface geochemistry, geophysical data sets and subsurface historical drilling data. This effort was
augmented by additional new geophysical surveys collected in Q3-Q4, 2020 for gravity, ground
magnetics and CSAMT (resistivity). Data integration began with the ground surface data sets and
has now progressed into 3D modeling to incorporate all subsurface drill hole information, including
down-hole multi-element geochemistry modeling, in order to delineate subsurface signature patterns
and zoning associated with Lower Plate carbonate hosted Carlin-type gold deposits."
Figure 1: Historical drill hole collar locations showing drill holes with known cumulative intercepts of >
0.10 g/t Au, hosted the Upper Plate sedimentary rock assemblage, Iron Point Project. (CNW
Group/Nevada King Gold Corp.)
Biographies
Mr.
Lewis Teal
received his M.S. degree in Economic Geology from the
University of Texas
–
El
Paso
in 1979. He has 40 years of professional background in the mining industry that has included
experience in Greenfields exploration, near-mine exploration and development in the U.S.,
South
America
, the Caribbean Region, and assignments in
Mexico
,
Turkey
,
Indonesia
and
Southern China
.
Lew served as District Exploration Team Technical Lead at Newmont Mining's Carlin Trend
Operations, Nevada (1993-1999); Chief Geologist (2000-2001) and Exploration Manager for
Newmont Mining's, Yanacocha operation (2002-2006) and subsequently served as Newmont's
Manager / Group Executive of Exploration and Early-Stage Development for
South America
and the
Caribbean Region (2006-2015). During his career he has been involved in multiple discoveries of
gold and copper deposits including in the Black Hills,
South Dakota
and
Carlin Trend
,
Nevada, USA
,
Peru
, Suriname and
French Guiana
. Since retiring from Newmont Mining in
April 2015
after 27 years,
Lew has been engaged as a private consultant, based out of
Albuquerque, N.M.
where he continues
to consult for multiple companies and has been, or is currently engaged, in exploration evaluations
and early, to advanced-stage development projects in
Peru
,
Chile
, Nevada,
Arizona
,
Alaska
,
Northern Europe
and the
Middle East
. Lew is a licensed Certified Professional Geologist with the
American Institute of Professional Geologists (C.P.G. #6932). As such, he is considered a Qualified
Person under Canadian National Instrument 43-101 regulations.
Mr.
Geoff Sterling
is an economic geologist with over 12 years of exploration experience, mainly
related to gold in the western U.S. Mr. Sterling has worked on a number of exploration projects
across north-central Nevada during his career, including management of a deep drilling program at
the Arch discovery, south of the town of Carlin. Prior to joining
Nevada King
he exploration activities
at the Iron Point Project for Ethos Gold. Mr. Sterling was also involved in the 2019 discovery at
Irving Resources' Omu epithermal gold project in northern Japan. Mr. Sterling earned a B.Sc. in
Geological Engineering from the
Colorado School of Mines
. He is a member of the Society of
Economic Geologists and the Geological Society of Nevada.
Marketing Agreement
Nevada King
also announces that it has retained a third-party investor relations provider, Gold
Standard Media, LLC ("
GSM
"), a limited liability company existing under the laws of the
State of
Texas
with an office at 1102 S.
Austin Ave
, #110-283,
Georgetown, Texas
, USA, to conduct
marketing services for the Company. GSM is headed by
Kenneth Ameduri
, who manages a
marketing team, and has been successfully marketing for a broad range of companies listed on
exchanges from the TSX Venture Exchange to the New York Stock Exchange since 2010. GSM
uses affiliated entities such as Future Money Trends and Portfolio Wealth Global LLC for the
purpose of these marketing activities. To the knowledge of the Company Wallace Hill Partners Ltd.,
an affiliate of GSM, owns 1,361,795
Nevada King
common shares. The term of the agreement with
GSM (the "
Agreement
") is for sixty days ending
July 18, 2021
. GSM will be paid
US$50,000
up
front for these services. Pursuant to the Agreement, GSM will raise public awareness of the
Company and will promote the Company's business.
Nevada King
is aware that since early May, GSM and its affiliates have unilaterally published
promotional materials regarding the Company without having an agreement with
Nevada King
to do
so and without receiving compensation from
Nevada King
. It has been brought to the Company's
attention that GSM sometimes contracts with the National Inflation Association ("
NIA
") in marketing
campagns.
Nevada King
would like to clarify that, despite the content of disclosure release by NIA,
Nevada King
has not entered into an agreement nor paid any compensation to NIA for promotional
or marketing material published by NIA.
Nevada King
does not approve or endorse the release of
any publications about itself that are overly promotional in nature.
Nevada King
is aware that some
of the promotional information published by GSM through its affiliated entities and NIA prior to the
date of this news release is overly promotional and
Nevada King
does not approve or endorse the
articles in question.
About Nevada King Gold Corp.
Nevada King
is the fourth largest mineral claim holder in the
State of Nevada
, and the fastest
growing mineral claim holder in
the United States
.
Nevada King
owns a 100% interest in the Atlanta
Mine, located 100km southeast of
Ely, Nevada
, and the Iron Point Vanadium Project, located 35km
east of
Winnemucca, Nevada
. The Atlanta Mine is a historical gold-silver producer. The Iron Point
Vanadium Project is located within a few miles of Interstate 80, has high voltage electric power lines
running through the project area and a railroad line passing across the northern property boundary.
Nevada King
is well financed to advance the Iron Point Vanadium Project through resource
estimation and initial feasibility study work.
Nevada King
has a proven capital markets and mining
team led by Executive Chairman
Paul Matysek
.
Please see the Company's website at
www.nevadaking.ca
.
Cautionary Statements Regarding Forward Looking Information
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
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.
SOURCE
Nevada King Gold Corp.
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For further information:
Collin Kettell at [email protected].
CO: Nevada King Gold Corp.
CNW 07:30e 19-MAY-21