Nevada King Drilling Extends Gold Mineralization 200m South, Strike Length Now Exceeds 1km at Atlanta Gold Mine
Nevada King Drilling Extends Gold
Mineralization 200m South, Strike Length Now
Exceeds 1km at Atlanta Gold Mine
VANCOUVER, BC
,
Dec. 7, 2021
/CNW/ -
Nevada King Gold Corp.
(TSXV: NKG) (OTCQX:
VKMTF)
("
Nevada King
" or the "
Company
") is pleased to announce results from ten additional
reverse circulation ("
RC
") holes recently completed at its 100% owned Atlanta Gold Mine Project,
located 264km northeast of
Las Vegas, Nevada
in the prolific Battle Mountain Trend. The new
drilling has extended gold mineralization approximately
200m
to the southeast of the historical
Atlanta
open pit (Figure 1) and remains open to the south.
Highlights
Highlight assays from these ten vertical RC holes include intercepts of:
41.2m
grading 1.03 g/t Au in hole AT21-45 starting at
50.3m
depth and bottoming in
mineralization
12.2m
grading 1.78 g/t Au in hole AT21-046 starting at
7.6m
depth
15.2m
grading 1.01 g/t Au in hole AT21-069 starting at
3m
depth
These intercepts confirm historical gold mineralization reported in RC holes drilled in the 1980s
that are not included in the 2020 Gustavson Associates pit-constrained resource model
*
due to
high detection limits on the Au assays and uncertainty in collar locations.
The Company's current drill campgain has now extended drill defined gold mineralization to
approximately
560m
north and
200m
south of the historic
Atlanta
open pit, covering a total strike
length of over 1km. This target remains open both to the north and south where further step-out
drilling is planned (Figure 1).
Today's results are located within the confines of the Gustavson 2020 conceptual open pit but,
importantly, are not currently included in the pit-constrained resource model, thus increasing
mineralized tonnage while decreasing strip ratio in a potential mining scenario (Figures 2 and 3).
Cal Herron
, Exploration Manager of
Nevada King
stated, "Drill holes completed by
Nevada King
along cross section A-A' (
Released
November 16, 2021
) revealed potential for extending the 2020
Gustavson resource beyond the model's boundaries to both the south and east. Today's release of
10 new holes drilled south of section A-A' confirm the further extension of gold mineralization
200m
to the south of the historic pit. As seen in both sections D-D' (Figure 2) and E-E' (Figure 3) the
mineralized horizons display good continuity between the sections and along trend northward into
section A-A'. Holes AT21-051 through AT21-053 drilled south of section E-E' indicate mineralization
continues to the south within a fault block that was raised
17m
relative to section D-D' (see Figures
1 and 3). South of this fault, the Atlanta Mine Fault zone was displaced westward. There is clearly a
high probability that gold mineralization extends southward in ground that was historically never
sampled nor drill-tested because of post-mineral cover and old structural models.
Future drilling is planned to test this new target including angle holes to test interpreted high-angle
structures similar to those observed along the southern benches of the
Atlanta
pit. Limited historical
angle drilling in this area returned good grades and thicknesses. Kinross RC hole KR98-12 (Figure
3) for example returned two mineralized intervals:
27.4m
@ 0.787g/t Au starting at
6.1m
hole depth,
and
24.4m
@ 0.66g/t Au starting at
57.9m
hole depth."
*The 2020 Gustavson work estimated a pit-contrained measured and indicated resource of 460,000
oz Au grading 1.3 g/t Au and an inferred resource of 142,000 oz Au grading 0.83 g/t Au see
"Technical Report on Resources, Atlanta Property", Gustavson Associates,
December 2020
, filed on
SEDAR).
Figure 1. Location of Nevada King’s 2021 RC drill holes relative to historical drill holes and the 2020
Gustavson gold resource zone and pit perimeter. Current historical open pit shown by red hatched
line. New holes drilled south of Section A-A’ further extend mineralization 200m southeast of the
historical open pit but still within the perimeter of Gustavson’s 2020 conceptual pit model. (CNW
Group/Nevada King Gold Corp.)
Figure 2. Cross section D-D’ showing gold distribution in the Nevada King RC holes drilled southeast
of the 2020 Gustavson gold resource model. Historical holes labeled in black. Gold mineralization
occurs within strongly silicified Laketown Dolomite beneath monzonite porphyry and rhyolitic tuff-dike
sills and within decalcified portions of the underlying Ely Springs Dolomite. The Mineralized horizon is
sharply down-dropped to the west along the Atlanta Mine Fault zone. (CNW Group/Nevada King
Gold Corp.)
Figure 3. Cross section E-E’ showing gold distribution in the Nevada King RC holes drilled southeast
of
the 2020 Gustavson gold resource model. Gold mineralization occurs within strongly silicified
Laketown Dolomite beneath monzonite porphyry and rhyolitic tuff-dike sills and within silicified
portions of the underlying Ely Springs Dolomite. The fault at the left (west) side of the section cuts
obliquely across the section at a low angle following a west-northwest strike. (CNW Group/Nevada
King Gold Corp.)
Southern Extension Drill Results
Assay results from
Nevada King's
drilling program south of the historical
Atlanta
pit are reported
below. Intercept lengths for the vertical holes are close to true thickness given the low dip angle of
mineralized zones being tested. Intercept lengths are reported as averaged, down-hole lengths
utilizing a 0.30 g/t external cut-off grade.
Table 1.
Drill
Hole ID
From (m)
To (m)
Averaged
Length (m)
Average
Grade g/t
AT21-045*
50.3
91.5
41.2
1.03
AT21-069
3
18.2
15.2
1.01
AT21-072**
35.1
42.7
7.6
0.77
AT21-046
7.6
19.8
12.2
1.78
AT21-070
0
54.9
54.9
<0.30
AT21-047
67.1
74.7
7.6
0.73
AT21-048
29
64
18.3
0.35
AT21-053
62.5
83.8
21.3
0.31
AT21-051
32
51.8
6.1
0.37
AT21-052
13.7
15.2
1.5
0.98
*
Denotes hole that bottoms in mineralization;
**
Denotes hole lost in historical working
Gold mineralization in all ten RC holes is identical to that previously reported in the other Nevada
King holes. Mineralization is hosted within a gently west-dipping, strongly silicified collapse breccia
horizon that developed directly underneath a clay-altered granitic sill along the contact with strongly
brecciated dolomitic rocks. Flow-banded rhyolitic dikes and explosive tuff dikes composed of
vesiculated rhyolite porphyry and strongly silicified dolomitic breccia clasts typically occur between
the granitic sill and mineralized zone. In places we see strata controlled replacement-type
mineralization within decalcified dolomite both adjacent to and along trend of silicified zones.
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.
Nevada King
is the third largest mineral claim holder in the
State of Nevada
, behind
Nevada Gold
Mines
(Barrick/Newmont) and
Kinross Gold
. Starting in 2016 the Company staked large project
areas hosting significant historical exploration work along the
Battle Mountain
trend located close to
current or former producing gold mines. These project areas were initially targeted based on their
potential for hosting multi-million ounce gold deposits and were subsequently staked following a
detailed geological evaluation. District-scale projects in
Nevada King's
portfolio include (1) the 100%
owned Atlanta Mine, located 100km southeast of
Ely
, (2) the Lewis and Horse Mountain-Mill Creek
projects, both located between
Nevada Gold Mines'
large
Phoenix
and Pipeline mines, and (3) the
Iron Point project, located 35km east of
Winnemucca, Nevada
.
The Atlanta Mine is a historical gold-silver producer with an 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.sedar.com
).
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 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:
contact Collin Kettell at [email protected] or (301) 744-8744
CO: Nevada King Gold Corp.
CNW 07:30e 07-DEC-21