Nevada KING Extends GOLD Mineralization South of the Atlanta Pit with High-Grade Intercepts Including 120.4M of 1.49 G/T Au & 57.9M of 1.38 G/T Au
NEVADA KING EXTENDS GOLD
MINERALIZATION SOUTH OF THE ATLANTA
PIT WITH HIGH-GRADE INTERCEPTS
INCLUDING 120.4M OF 1.49 G/T AU & 57.9M
OF 1.38 G/T AU
VANCOUVER, BC
,
Sept. 13, 2022
/CNW/ -
Nevada King Gold Corp.
(TSXV: NKG) (OTCQX:
NKGFF)
("Nevada King"
or the "
Company
") is pleased to announce assay results from 13 reverse
circulation ("
RC
") holes recently completed at its Atlanta Gold Mine Project, located 264km
northeast of
Las Vegas, Nevada
in the prolific Battle Mountain Trend.
Highlights
These holes were drilled south of the Atlanta Pit to test the southern extension of the Atlanta
Mine Fault Zone ("
AMFZ
"). Assays from initial 13 holes in its 2022 drill campaign include
intercepts of:
Hole No
From
(m)
To
(m)
Interval
(m)
Au
(g/t)
AT22-RC1
48.8
88.4
39.6
0.55
AT22-RC2
^
30.5
150.9
120.4
1.49
Including
138.7
147.9
9.1
10.58
AT22-RC3
9.1
16.8
7.6
6.79
AT22-RC4
^
7.6
64.0
56.4
0.86
AT22-RC5
30.5
61.0
30.5
1.77
AT22-RC6
^
32.0
64.0
32.0
0.36
AT22-RC8
6.1
56.4
42.7
0.82
AT22-RC9
^
0.0
22.9
22.9
0.53
And
67.1
144.8
77.7
0.62
AT22-RC12
^
0.0
57.9
57.9
1.38
Including
44.2
51.8
7.6
4.04
AT22-RC16
6.1
18.3
12.2
2.12
AT22-RC17
33.5
59.5
25.9
1.71
AT22-RC18
9.1
25.9
16.8
1.12
AT22-RC19
9.1
22.9
13.7
0.93
Table 1: Highlight assays from 13 initial holes at Atlanta Gold Mine Project
^Denotes angle hole. True widths are unknown at this time.
Angle hole AT22-RC2 which intercepted
120.4m
of 1.49 g/t Au
including
9.1m
of 10.54 g/t Au
and hole AT22-RC9 which intercepted
22.9m
of 0.53 g/t Au
and
77.7m
of 0.62 g/t Au
were
drilled south of the pit, testing for gold mineralization along the southward extension of the
AMFZ (see Figure 1). Both holes bottomed in mineralization and encountered significantly
higher-grade and thicker gold mineralization compared to past drilling along the southern pit
margin, opening up a large untested area for further expanding the resource to the south.
Importantly, this drilling has identified a number of high-grade and high-angle structures within
the silicified breccia unit that are interpreted to be responsible for offsetting and feeding the
mineralized horizon (see Figures 2 and 3). These structures are located west of the AMFZ and
appear to be a major conduit for gold mineralizing fluids at
Atlanta
. Six holes intercepted high-
grade gold mineralization in these structures (see Table 3) with grades in these intervals ranging
from 3.3 to 29.7 g/t, significantly exceeding the grades of prior intervals in these structures
which generally did not exceed 3 g/t in this area.
Angle hole AT22-RC12, collared at the far southeastern corner of the
Atlanta
pit about
40m
east of the nearest
Nevada King
hole, tested an area with no past drilling and encountered a
surprisingly thick section of gold mineralization returning
57.9m
of 1.38 g/t Au
, starting at
surface. This now opens up a new area along the eastern side of the pit for further expanding
the resource and adds impetus for drill-testing the immediately adjacent East Ridge Target
zone.
Cal Herron
, P.Geo., Exploration Manager of
Nevada King
stated, "The 2022 drill program was
designed with the objectives of both expanding the current
Atlanta
resource and also to target
potential of areas of high-grade gold mineralization. Today's announcement is pivotal, demonstrating
that the areas directly south and southeast of the pit, which have remained largely ignored by past
drilling, are primed for resource expansion, and are returning higher-grades and thicknesses than
seen in past drilling in the vicinity. The initial drilling has also discovered higher-grade zones including
high grade intervals located proximate to a tuff dike breccia unit as well as along high angle faults
cutting the silica breccia horizon. The close association between high grade gold mineralization and
the strongly altered, and in places mineralized, felsic tuff dike breccia unit raises a number of
possibilities for intersecting significantly higher gold grades along the southern extension of the
AMFZ as documented by historical holes located west of the open pit and generally below
200m
depth.
"Additionally, variably mineralized altered tuff dikes and tuff dike breccia mapped in outcrop and
prospect pits several hundred metres south and southeast of the pit appear correlative with the tuff
dike breccia associated with higher grade gold mineralization noted in the current drilling. This now
provides new zones to target for near surface gold mineralization that will be tested by
Nevada
King's
ongoing 2022 drill program."
Figure 1. Location map for holes reported in this news release relative to the historical Atlanta Pit
and previous drilling. (CNW Group/Nevada King Gold Corp.)
Figure 2. Section A-A’ across the southern end of the historical Atlanta pit showing the “roll-over” in
dip of the mineralized zone from horizontal on the east to 45o on the west. The Atlanta Mine Fault
occurs at the hinge of this roll-over point. Note the close relationship between felsic tuff dike breccia
bodies and Au mineralization. Additional drilling is planned to follow-up on the higher grade intercepts
in AT22-RC02 and AT22-RC12. (CNW Group/Nevada King Gold Corp.)
Figure 3. Section B-B’ across the southern extension of the Atlanta Mine Fault Zone 150m south of
the historical Atlanta pit, showing same dip roll-over in the mineralized zone and same Au-tuff dike
breccia association as seen in Figure 2 to the north. More drilling is planned west of AT21-053 to
follow-up on the intercept in AT22-RC09. (CNW Group/Nevada King Gold Corp.)
Hole No
Hole Depth
(m)
Hole Angle
From
(m)
To
(m)
Length
(m)
Au
(g/t)
AT22-RC1
126.1
Vertical
48.8
88.4
39.6
0.55
AT22-RC2
229.0
-59 260az
30.5
150.9
120.4
1.49
includes
138.7
147.9
9.1
10.58
AT22-RC3
23.1
Vertical
9.1
16.8
7.6
6.79
AT22-RC4
88.2
-45 260az
7.6
64.0
56.4
0.86
AT22-RC5
92.4
Vertical
30.5
61.0
30.5
1.77
AT22-RC6
126.1
-45 260az
32.0
64.0
32.0
0.36
AT22-RC8
96.6
Vertical
6.1
56.4
42.7
0.82
AT22-RC9
199.6
-45 260az
0.0
22.9
22.9
0.53
and
67.1
144.8
77.7
0.62
AT22-RC12
92.4
-45 320az
0.0
57.9
57.9
1.38
includes
44.2
51.8
7.6
4.04
AT22-RC16
27.3
Vertical
6.1
18.3
12.2
2.12
AT22-RC17
88.2
Vertical
33.5
59.5
25.9
1.71
AT22-RC18
88.2
Vertical
9.1
25.9
16.8
1.12
AT22-RC19
42.0
Vertical
9.1
22.9
13.7
0.93
Table 2. High-grade intercepts in drill results received to date from
Nevada King's
2022
drilling program.
Hole No.
From
(m)
To
(m)
Length
(m)
Au
(g/t)
AT22-RC2
138.7
147.9
9.1
10.58
AT22-RC3
9.1
10.7
1.5
29.7
AT22-RC5
45.7
57.9
12.2
3.31
AT22-RC12
44.2
51.8
7.6
4.04
AT22-RC16
10.7
12.2
1.5
8.33
AT22-RC17
50.3
54.9
4.6
5.00
Table 3. High-grade intercepts in drill results received to date from
Nevada King's
2022
drilling program.
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 Company has 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 Company is well funded with cash of approximately
$19.2-million
as of September 2022.
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.sedar.com
).
NI 43-101 Mineral Resources at the Atlanta Mine
Resource
Category
Tonnes
(000's)
Au Grade
(ppm)
Contained Au Oz
(000's)
Ag Grade
(ppm)
Contained Ag Oz
(000's)
Measured
4,130
1.51
200
14.0
1,860
Indicated
6,910
1.17
260
10.6
2,360
Measured + Indicated
11,000
1.30
460
11.9
4,220
Inferred
5,310
0.83
142
7.3
1,240
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
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] or (301) 744-8744.
CO: Nevada King Gold Corp.
CNW 07:30e 13-SEP-22