Nevada KING Initiates Phase I Metallurgical Testwork Program at Its 100%-OWNED Atlanta Oxide GOLD MINE Project
NEVADA KING INITIATES PHASE I
METALLURGICAL TESTWORK PROGRAM AT
ITS 100%-OWNED ATLANTA OXIDE GOLD
MINE PROJECT
VANCOUVER, BC
,
Feb. 7, 2023
/CNW/ -
Nevada King Gold Corp.
(TSXV: NKG) (OTCQX:
NKGFF) ("
Nevada King
" or the "
Company
") is pleased to announce that it is initiating Phase I
metallurgical testing on bulk samples and diamond drill core drilled in 2022 at its Atlanta Gold Mine
Project located 264km northeast of
Las Vegas, Nevada
, in the prolific Battle Mountain Trend.
Highlights:
In
July of 2022
,
Nevada King
announced positive results from its initial cyanide solubility testing
program with
gold cyanide solubility demonstrating a weighted average of 86.7% across
986 samples
. Samples analysed were widely distributed, with over half coming from outside
the historical Atlanta Mine open pit, extending up to
560m
north of the pit.
Historically, the
Atlanta
mine extracted and processed silica breccia (SBX) ores from the East
Atlanta Fault area of the Atlanta Pit, recovering 81.5% of the Au and 42.7% of the Ag using a
small mill employing a
Merrill Crowe
pregnant solution recovery flowsheet.
Nevada King
has identified and is drilling several key areas of mineralization at
Atlanta
that are
found in the following lithologies:
Silicified Laketown dolomite
Silicified
Ely Springs
dolomite
Silicified Breccia (SBX) between the three main Atlanta Faults
Volcanic and intrusive mineralizition contained in: Wah Wah tuff (generally categorized as
dacite and quartz latite tuffs), feldspar porphyry tuff, porphyritic rhyolite and dacite
intrusives, and explosive felsic dike breccias
A Phase 1 metallurgical scope of work has been developed to explore the response of
these mineralized zones to a variety of processing options.
Material is currently being
selected and testing of this material is planned to start in the second quarter of 2023 at Kappes,
Cassiday and Associates in
Reno, Nevada
. Final results are expected to be available by Q4
2023. The outlined scope of work includes:
Geo-metallurgical characterization using a series of analytical techniques including gold and
silver cyanide solubility analysis, carbon and sulfur species analysis, four acid ICP analysis,
whole rock analysis, and QXRD analysis (for clays).
Bottle roll testing of samples at target P
80
= 37, 75, and 1,700 microns.
Conventional crush, column leach testing on all mineralization and lithology types.
High Pressure Grinding Roll (HPGR) crush, column leach testing on silicified (low-clay)
mineralization.
Nevada King's
metallurgical test program is being designed by metallurgical consultant
Gary
Simmons
, a highly experienced, internationally-recognized metallurgist who has previously
served as Director of Metallurgy and Technology of Newmont Mining Corporation, for which he
managed the corporate metallurgical laboratory and R&D staff responsible for global Newmont
process development and engineering design projects (
see
April 12, 2022
, release for detailed biography
).
Gary Simmons
, Consulting Metallurgist to
Nevada King
, stated, "Last year's cyanide solubility
testwork demonstrated that mineralization at
Atlanta
is being drilled in oxide material. As the project
continues to advance, we have now acquired enough representative material to initiate a proper
metallurgical characterization study which will allow the Company to better understand the system
and begin to design flow sheet options to treat the various material types."
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 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
$9.3 million
as of February 2023.
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
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
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 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 (845) 535-1486.
CO: Nevada King Gold Corp.
CNW 07:30e 07-FEB-23