Nevada KING Intercepts 2.72 G/T Au over 64M Including 4.29 G/T Au over 29M, Extends Pit Mineralization Towards the North Extension Target
NEVADA KING INTERCEPTS 2.72 G/T AU OVER 64M INCLUDING 4.29 G/T
AU OVER 29M, EXTENDS PIT MINERALIZATION TOWARDS THE NORTH
EXTENSION TARGET
VANCOUVER, BC
,
Feb. 19, 2025
/CNW/ -
Nevada King Gold Corp.
(TSXV: NKG) (OTCQX: NKGFF) ("
Nevada King
" or the "
Company
") is pleased to
announce results from 18 vertical, reverse circulation ("
RC
") holes and one vertical, diamond core hole. This drilling was part of the recently completed Phase II
drill program at its 12,000 hectare (120km
2
), 100% owned Atlanta Gold Mine Project, located in the prolific Battle Mountain Trend 264km northeast of
Las Vegas,
Nevada
. These holes were collared in the northern portion of the
Atlanta
resource zone and aimed at connecting pit mineralization to the North Extension Target
("
NET
") and better defining the well-mineralized horizon found within the West Atlanta Graben Zone ("
WAGZ
").
Highlights:
Hole No.
From (m)
To (m)
Interval (m)
Au (g/t)
Ag (g/t)
Section Line
AT23WS-53
*
272.9
336.9
64.0
2.72
17.0
16N(3)
Including
278.9
307.9
29.0
4.29
30.2
16N(3)
AT24WS-76
236.3
304.3
68.6
1.17
18.5
17N(3)
AT24WS-67
*
240.9
323.2
82.3
1.56
8.5
19N
AT24WS-70
250.0
317.1
67.1
1.44
17.9
19N
Including
254.6
260.7
6.1
4.05
17.6
19N
Table 1: Highlighted holes released on sections 22N-16N(3) and 22N-17N(3). Mineralization occurs along near-horizontal horizons with true mineralized thickness estimated to be
85% to 95% of reported drill intercept length.
*
Denotes holes bottoming in
mineralization.
AT23WS-53 returned 2.72g/t Au over
64m
including a high-grade zone of 4.29g/t Au over
29m
and is located on the east side of the West Atlanta Fault #1
("
WAF1
") (see Figure 2, Section 22-16N(3)). The hole bottomed in mineralization and was sited to infill a gap along the section and check the high-grade
result in nearby AT23WS-45 (3.52g/t Au over
61m
including 7.55g/t Au over
10.7m
).
AT24WS-67 (1.56 g/t Au over
82.3m
,
bottoming in mineralization
) and AT24WS-70 (1.44 g/t Au over
67.1m
, including 4.05 g/t Au over
6.1m
) seen along
Section 22-19N (Figure 5) are located approximately
350m
north-northwest of the Atlanta Pit in an area devoid of historical drilling. These holes represent the
northernmost drilling within the mine area and extend the pit-proximal mineralization northward into the southern margin of the NET. These two holes also
show an abrupt westward increase in grade and thickness when compared to historical holes in this area and demonstrate that mineralization continues
westward. A further westward step-out with AT24WS-79 returned 1.82 g/t over
36.6m
, although the hole was prematurely lost in high-grade mineralization,
so the actual grade and thickness of this particular fault block currently remains to be confirmed by further drilling.
NET holes AT24NS-194 and AT24NS-193 (
released
August 19, 2024
), which respectively intercepted 1.29 g/t over
50.3m
and 2.08 g/t Au over
42.7m
, are
located only
85m
northwest of AT24WS-70. Gold distribution in holes along Section 22-19N indicates the highest grades occur proximal to the West Atlanta
Fault #1 which continues northward into the NET where it also localized higher grades.
Cal Herron
, Exploration Manager of
Nevada King
, stated, "
Nevada King's
exploration drilling along sections 16-19 reveal the existence of substantially thicker and
higher-grade mineralization within this portion of the target zone than previously recognized. The impetus behind our decision to drill-test this area was based
simply on following mineralization northward along high-angle structures that had been identified within the WAGZ soon after we initiated the Phase II program in
early 2022. As a result of our WAGZ drilling, two major take-aways became obvious: 1) the entire mineralized zone, particularly the high-grade zone at the lower
Tertiary-Paleozoic unconformity, must be completely penetrated and successfully sampled, otherwise average gold grade for the mineralized intercept will
generally drop significantly, and 2) adequate drill-definition of high-grade zones is required to ensure identifying the numerous high-grade structures throughout the
Atlanta
system.
"As the Company now embarks on its Phase III regional drill exploration program at
Atlanta
, the same two take-aways apply as we endeavor to test priority drill
targets around the Atlanta Caldera's outer ring-fracture zone. With detailed geological and geochemical models in hand for the Atlanta Resource Zone and vicinity,
we know what indications will allow us to vector in on another deposit. We use litho-geochemistry to identify prospective host rocks, and at the same time rely on
Au pathfinder geochemistry to determine whether we are dealing with the right type of hydrothermal environment and how far away we may be from significant
mineralization. The
Atlanta
resource is in large part controlled by the Tertiary-Paleozoic unconformity, and we know from several deep historical holes drilled west
of the resource zone that Au mineralization occurs along this same unconformity over a very large area. We are now in the process of tracking mineralization
along the unconformity with our drills, searching for structural grabens or depressions in the basement that may have concentrated mineralization in a particular
area. Due to the high percentage of cover at
Atlanta
, our high-resolution geophysical data will be important in identifying prospective structural "traps"".
Figure 1. Location map of holes reported in today’s news release along four sections shown below in figures 2-5. This also reports all holes drilled along these
sections for the entirety of the Phase II program at Atlanta. Shallow mine dump holes have been removed from plot for clarity. (CNW Group/Nevada King Gold
Corp.)
Figure 2. Cross section 22-16N(3) looking north across the West Atlanta Graben Zone and Atlanta Mine Fault Zone. High-angle, north-south structure and
crossing east-west structure channel shallow intrusions and Au/Ag bearing fluids into the Paleozoic unconformity. Complex structure and multi-staged intrusions
create high-grade mineralization in concentrated zones accompanied by consistent thick mineralization on the peripheries. Mineralization remains open to the west.
(CNW Group/Nevada King Gold Corp.)
Figure 3. Cross section 22-17N(3) looking north across the West Atlanta Graben Zone and Atlanta Mine Fault Zone. High-angle, north-south structure and
crossing east-west structure channel shallow intrusions and Au/Ag bearing fluids into the Paleozoic unconformity. Complex structure and multi-staged intrusions
create high-grade mineralization in concentrated zones accompanied by consistent thick mineralization on the peripheries. Mineralization remains open to the west.
(CNW Group/Nevada King Gold Corp.)
Figure 4. Cross section 22-18N looking north across WAGZ & Atlanta Mine Fault Zone. High-angle, northerly trending faults channeled shallow intrusions & Au/Ag
bearing fluids into receptive host horizon that developed along the unconformity of Paleozoic basement rock & overlying Tertiary volcanics. Subsequent drilling of
Wild West Target (holes AT24WS-82 - AT24WS-84) have shown mineralization deeper to west. Hole AT24WS-81 did not intersect this horizon & mineralization
remains open to the west. (CNW Group/Nevada King Gold Corp.)
Figure 5. Cross section 22-19N looking north across the northernmost portion of the West Atlanta Graben Zone and Atlanta Mine Fault Zone. The high-angle
northerly trending West Atlanta #1 fault channels shallow intrusions and Au/Ag bearing fluids up into receptive host horizon along the unconformity. This sub-
vertical structure extends into the North Extension Target and is responsible for continued mineralization. (CNW Group/Nevada King Gold Corp.)
Hole ID
From(m)
To (m)
Interval(m)
Au(g/t)
Ag (g/t)
Section Line
AT23WS-43
237.8
268.3
30.5
0.72
9.8
17N(3)
AT23WS-53*
272.9
336.9
64
2.72
17
16N(3)
AT23WS-64
218
269.8
51.8
0.6
14
18N
AT24WS-68*
231.7
306.4
74.7
0.64
9.3
18N
AT24WS-67*
240.9
323.2
82.3
1.56
8.5
19N
AT24WS-69*
323.2
396.3
73.2
1.48
5.5
17N(3)
AT24WS-70
250
317.1
67.1
1.44
17.9
19N
AT24WS-71*
240.9
275.9
35.1
0.51
8.4
19N
AT24WS-72*
208.8
259.1
50.3
0.71
5.6
16N(3)
AT24WS-73*
224.1
314
89.9
1.12
11.9
16N(3)
AT24WS-74*
199.7
230.2
30.5
0.48
7
17N(3)
AT24WS-76
236.3
304.9
68.6
1.17
18.5
17N(3)
AT24WS-77*
307.9
365.9
57.9
0.91
9.9
16N(3)
AT24WS-79*
317.1
353.7
36.6
1.82
5.6
18N
AT24WS-81
429.9
434.5
4.6
0.03
0.03
18N
AT22NS-22
6.1
30.5
24.4
0.47
24.4
19N
AT22NS-22T+
194.8
205.5
10.7
0.25
18.4
19N
AT22NS-24
0
9.1
9.1
0.5
6.1
19N
AT22NS-25
0
18.3
18.3
0.47
7.1
19N
AT23NS-146
193.6
210.4
16.8
0.29
5.6
18N
Table 2: All holes released on today's sections 22N-16, 17, 18, and 19. Mineralization occurs along near-horizontal horizons with true mineralized thickness in vertical holes estimated to be
85% to 95%
of reported drill intercept length.
*
Denotes holes
that bottomed in mineralization. + Denotes core holes.
Hole ID
From (m)
To (m)
Interval (m)
Au (g/t)
Ag (g/t)
Section Line
AT22WS-2
*
227.1
298.8
71.7
2.31
5.8
16N(3)
Includes
265.2
298.8
33.6
4.10
10.2
16N(3)
AT22WS-3A
179.9
259.1
79.3
0.44
3.8
16N(3)
AT22WS-12
*
204.2
259.1
54.9
0.21
1.2
16N(3)
AT22NS-28T
+
68.6
130.3
61.7
0.50
9.2
16N(3)
AT22NS-29A
1.5
32.0
30.5
0.66
14.0
16N(3)
AT23WS-45
263.7
324.7
61.0
3.52
15.7
16N(3)
Includes
280.5
291.2
10.7
7.55
36.3
16N(3)
AT23WS-57
*
300.3
339.9
39.6
0.14
10.9
16N(3)
AT23WS-60
204.3
301.8
97.5
1.04
4.9
16N(3)
AT23WS-62
291.1
332.3
41.2
6.01
25.0
16N(3)
Includes
294.2
301.8
7.6
19.44
21.6
16N(3)
AT23WS-63*
309.5
336.9
27.4
1.18
18.3
16N(3)
AT23NS-149
175.3
193.6
18.3
0.45
10.3
16N(3)
AT21-010
*
0
10.7
10.7
2.30
19.5
17N(3)
AT21-011
^
0
19.8
10.7
0.97
10.5
17N(3)
AT22WS-1
*
239.3
304.9
65.5
1.52
11.6
17N(3)
AT22WS-12
*^
204.3
259.1
54.9
0.21
1.2
17N(3)
AT23WS-15
213.4
248.5
35.1
0.50
8.4
17N(3)
AT22NS-26T
+
119.2
138.3
19.1
0.39
11.3
17N(3)
AT22NS-27
51.8
71.6
19.8
0.41
12.5
17N(3)
AT23WS-23C.1
*+
226.2
312.5
86.3
4.51
50.7
17N(3)
Includes
256.3
299.2
43.0
7.77
25.1
17N(3)
AT23WS-023
230.2
332.3
102.1
2.45
10.1
17N(3)
Includes
288.1
300.3
12.2
8.78
11.8
17N(3)
AT23WS-18
225.6
283.5
57.9
1.48
8.5
17N(3)
AT23WS-58
213.4
297.2
83..8
0.75
5.6
17N(3)
AT23WS-59
216.4
283.5
67.1
0.86
10.9
17N(3)
AT23WS-61
*
243.8
294.1
50.3
1.56
13.2
17N(3)
AT24WS-80
373.5
408.5
35.1
2.66
6.3
17N(3)
AT23WS-42
312.5
341.5
29
2.03
13.9
16N(3)
AT21-13
53.4
67.1
13.7
0.82
5.2
16N(3)
AT21-14
0
24.4
24.4
0.35
36
16N(3)
Table 3. Previously released holes used on sections 16, 17, 18, and 19.
Mineralization occurs along near-horizontal horizons with true mineralized thickness in vertical holes estimated to be
85% to 95%
of reported drill intercept length.
*
Denotes holes that
bottomed in mineralization.
+
Denotes core holes. ^ Denotes aggregate assay interval.
Hole ID
From (m)
To (m)
Interval (m)
Au (g/t)
Ag (g/t)
DHRI-11-NRC01
*
310.9
338.3
27.4
0.42
5.9
DHRI-11-15C
+
266.7
333.8
67.1
0.28
8.4
DHRI-11-NRC03
263.7
320.1
56.4
3.9
20.9
Includes
265.2
280.5
15.3
8.6
13.2
DHRI-12-MRC1
*
271.3
349.1
77.8
1.95
6.5
KR98-25
204.2
214.9
10.7
0.31
6.6
GC96-09
^
0
27.4
27.4
0.41
2.4
AR-05
217.9
233.2
15.3
1.32
8.2
AR-41
^
0
19.8
19.8
0.16
21.7
Table 4. Historical drill holes used in today's cross sections. DHRI series holes drilled by Meadow Bay in 2011 and 2012. KR series hole drilled by Kinross in 1998. GC series hole drilled by Golden Chief in 1996. The AR series was drilled by Goldfields in 1991. *
Denotes holes bottoming in mineralization. ^ Denotes angled drill holes. + Denotes core hole.
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.
Nevada King
is focused on advancing and growing its 100% owned, past producing, 120km
2
Atlanta Gold Mine project located along the
Battle Mountain
trend in
southeast Nevada. The project hosts an NI 43-101 compliant pit-constrained oxide 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) based on historical drilling, and does not include any of the 100,000m+ of
drilling completed by
Nevada King
. 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 5. 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 to 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, contact Collin Kettell at [email protected] or (845) 535-1486.
CO: Nevada King Gold Corp.
CNW 06:30e 19-FEB-25