Nevada KING Intercepts 1.43 G/T Au over 57.9M, 1.12 G/T Au over 45.7M & 1.15 G/T Au over 39.6M at Atlanta
NEVADA KING INTERCEPTS 1.43 G/T AU OVER 57.9M, 1.12 G/T AU OVER
45.7M & 1.15 G/T AU OVER 39.6M AT ATLANTA
VANCOUVER, BC
,
Jan. 11, 2024
/CNW/ -
Nevada King Gold Corp.
(TSXV: NKG) (OTCQX: NKGFF) ("
Nevada King
" or the "
Company
") is pleased to
announce assay results from six 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. Today's holes are plotted in plan and section on Figures 1 and 2 below.
Highlights:
Hole No.
From (m)
To (m)
Interval (m)
Au (g/t)
Ag (g/t)
Zone
AT23WS-38
327.7
378.0
50.3
0.97
5.2
WAGZ
AT23NS-107
266.8
306.4
39.6
1.15
16.4
WAGZ
AT23NS-166
158.5
182.9
24.4
1.93
51.3
AMFZ
AT23NS-044
100.6
123.5
22.9
2.39
48.0
AMFZ
AT23NS-128
79.3
125.0
45.7
1.12
58.8
AMFZ
AT23NS-122
19.8
77.7
57.9
1.43
24.0
AMFZ
Table 1. Holes released today along Section 11N(2). Mineralization occurs along near-horizontal horizons with true mineralized thickness in vertical
holes estimated to be 85% to 95% of reported drill intercept length.
Four of today's holes crossed the Atlanta Mine Fault Zone ("
AMFZ
") and were collared to fill-in drill pattern gaps and better define feeder faults. Good lateral
continuity in mineralization is present, with gold and silver grades ranging from 1.12 g/t Au to 2.39 g/t Au and 24.0 g/t to 58.8 g/t Ag, while true thicknesses
range from
22.9m
to
57.9m
. Mineralization within individual fault blocks are being better defined with closely-spaced holes, thus adding definition to the grade
distribution and highlighting the importance of high-angle faults that generally localize higher grade and thicker mineralization.
AT23NS-107 (
39.6m
@ 1.15 g/t Au) was a
17m
step out to the south from previously released AT23NS-106 (
41.2m
@ 0.84 g/t Au) to test for lateral
continuity of grade and thickness within the same fault block. These intercepts exhibit close agreement in grade, thickness, and intercept depth, adding
confidence to our understanding of the structural controls on the mineralization.
Sited in the western portion of the West Atlanta Graben Zone ("
WAGZ
"), hole AT23WS-38 (
50.3m
@ 0.97 g/t Au) stepped out
40m
westward from
previously released AT23WS-26 (
30.5m
@ 0.33 g/t Au) and shows a three-fold increase in grade over a thicker interval, approaching the West Atlanta Fault
#2. Historical core hole DHRI-11-NRC5 is located approximately
15m
east of AT23WS-38 and intercepted 1.61 g/t Au over
61m
, and illustrates the variability
in grade within the mineralized porphyritic dacite intrusive unit where grade is more structurally controlled compared to other portions of the resource zone.
Cal Herron
, Exploration Manager of
Nevada King
, stated, "Today's results along Section 23-11N(2) are located in the central portion of the
Atlanta
resource zone
and continue to be very positiive. We know that the highest grades and thicknesses within the WAGZ occur in the southern portion of the resource zone along
sections 4N through 9N and to the north along sections 14N through 17N, which is likely due to the presence of E-W trending faults cutting across these portions
of the
Atlanta
system. Such E-W trending faults may also occur in the central portion of the WAGZ, where drilling density is lower and where several holes are
pending that will ultimately be plotted on Sections 12N and 13N. As more hole results come in, we'll get a much better handle on the grade distribution and in turn
be more able to track higher grade structural corridors through this thick, low grade blanket."
Figure 1. Location map for holes reported in this news release along updated drill Section 23-11N(2) relative to the perimeter of the historical Atlanta Pit and
footprint of the Gustavson 2020 NI 43-101 resource. Shallow drillholes on the mine dumps have been removed from the plot for clarity. (CNW Group/Nevada King
Gold Corp.)
Figure 2. Updated cross section 22-11N(2) looking north across the West Atlanta Fault that divides the AMFZ target on the east from the WAGZ target on the
west. Along the AMFZ Au/Ag mineralization is largely hosted within a silica breccia horizon developed on top the Paleozoic dolomite and quartzite units, whereas
mineralization within the WAGZ
is largely hosted within volcanic tuff and sediments above the Paleozoic basement. (CNW Group/Nevada King Gold Corp.)
Hole No.
From (m)
To (m)
Interval (m)
Au (g/t)
Ag (g/t)
AT22NS-40
15.2
79.3
64.1
1.45
32.7
AT22NS-42
61.0
80.8
19.8
1.82
31.0
AT22NS-45
70.1
106.7
36.6
1.35
34.7
AT22NS-92
181.4
231.7
50.3
1.07
64.0
AT22NS-95
129.6
155.5
25.9
1.63
67.3
AT23NS-106
268.3
309.5
41.2
0.84
14.1
AT23WS-24
324.7
376.5
51.8
1.79
21.1
AT23WS-26
306.4
336.9
30.5
0.33
3.2
AT21-61
3
36.6
33.6
0.60
16.7
Table 2
. Previously reported holes used along updated Section 22-11N(2). AT22 series holes were drilled by
Nevada King
in 2022 and the AT21 series
holes were drilled in 2021. True thickness of gold mineralization interpreted in today's release is 90% to 100% of the reported intercept length in
vertical holes.
Hole No.
From (m)
To (m)
Interval (m)
Au (g/t)
Ag (g/t)
DHRI-11-NRC5
312.5
373.5
61.0
1.61
9.09
Table 3.
Historical hole used in updated Section 22-11N(2). DHRI series hole was drilled by Meadow Bay in 2011. True thickness of g
old mineralization
interpreted in today's release is 90% to 100% of the reported intercept length in vertical holes.
QAQC 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 weighed 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. Silver samples that run greater than 100ppm are also 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.
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 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 4. 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:
Collin Kettell at [email protected] or (845) 535-1486.
CO: Nevada King Gold Corp.
CNW 07:30e 11-JAN-24