Nevada KING Commences Its Phase III, 20,000 Metre Regional Drill Program at Atlanta
NEVADA KING COMMENCES ITS PHASE III, 20,000 METRE
REGIONAL DRILL PROGRAM AT ATLANTA
VANCOUVER, BC
,
Nov. 19, 2024
/CNW/ -
Nevada King Gold Corp.
(TSXV: NKG) (OTC: NKGFF) ("
Nevada King
" or the "
Company
") is
pleased to announce that its Phase III regional drill program is now underway, following receipt of all necessary approvals from the Bureau of
Land Management, at its 100%-owned Atlanta Gold Mine Project along the prolific Battle Mountain Trend, 264km northeast of
Las Vegas,
Nevada
.
Highlights:
The Phase III drill program will include an initial
20,000m
of drilling across roughly 80 drill targets that are planned throughout the
Atlanta
district (targets released on
September 17, 2024
, and
October 3, 2024
).
The program will utilize two reverse-circulation ("
RC
") drills, the first of which arrived on site on
November 13, 2024
, and has completed
three holes at the Jumbo and Northeast Target areas. The second rig, which will be used at the South Quartzite Ridge Target ("
SQRT
")
arrived on
November 19, 2024
.
Road construction at the SQRT commenced on
November 8, 2024
, to provide access to new drill pad locations along the eastern side and
top of the ridge. Initially expected to take 8-12 weeks, progress has been faster than anticipated, with the majority of the road construction
already complete, ahead of schedule, and below budget (see Figures 1-2).
Planned SQRT holes are sited to drill down through the impermeable quartzite cap, into the low resistivity zone visible on geophysics
underlying much of the ridge and thought to be the southward extension of altered felsic intrusive rock that hosts the 6.28 g/t Au over
54.9m
returned in AT24HG-41 (
released
July 23, 2024
) at the very northern end of the SQRT.
Cal Herron, Exploration Manager of
Nevada King
, stated, "The
Atlanta
resource is almost entirely covered by variably thick sections of alluvium
and unmineralized volcanics, quartzite, and dolomite. Since the mid-70s through successive stages of drilling, the extent of mineralization
expanded from a small outcrop discovered 140 years ago to what it is today. Despite the discovery of numerous Au-Ag occurrences throughout
the
Atlanta
district, discovery of additional deposits has been severely hampered by extensive thick cover. New high resolution geophysical data
together with a more comprehensive understanding of the structural and lithological controls has provided
Nevada King
focus and a number of
high priority targets for our Phase III drilling program. We look forward to testing these targets to assess their geological environment and
potential for hosting significant gold mineralization."
Figure 1. Regional Atlanta map showing proposed drill hole locations for the Phase III program, as well as the newly constructed roads along the
South Quartzite Ridge Road. (CNW Group/Nevada King Gold Corp.)
Figure 2. Drilling is underway at Atlanta with road construction along the South Quartzite Ridge Target nearing completion. (CNW Group/Nevada
King Gold Corp.)
QA/QC 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 weighted 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. 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 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.
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.
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For further information:
For more information, contact Collin Kettell at [email protected] or (845) 535-1486.
CO: Nevada King Gold Corp.
CNW 06:30e 19-NOV-24