Nevada KING Intercepts 42.7M of 4.67 G/T Au Including 18.3M of 7.94 G/T Au at New 'Wild WEST' Zone, a Step-Out Approximately 150M WEST of the Atlanta Resource Zone
NEVADA KING INTERCEPTS 42.7M OF 4.67 G/T AU INCLUDING 18.3M OF
7.94 G/T AU AT NEW 'WILD WEST' ZONE, A STEP-OUT APPROXIMATELY
150M WEST OF THE ATLANTA RESOURCE ZONE
VANCOUVER, BC
,
Aug. 19, 2024
/CNW/ -
Nevada King Gold Corp.
(TSXV: NKG) (OTCQX: NKGFF) ("
Nevada King
" or the "
Company
") is pleased to
announce results from 12 vertical, reverse circulation ("
RC
") holes, eight of which were drilled into a new discovery area called the Wild West Zone ("
WWZ
") at its
5,166 hectares (51.6km
2
), 100% owned Atlanta Gold Mine Project, located in the prolific Battle Mountain Trend 264km northeast of
Las Vegas, Nevada
. The
WWZ target area is interpreted to have a width of
150m
to
200m
(east-west, open to the west) over a minimum
500m
north-south strike length (open to the
south). This new zone is located in an area previously thought to be unmineralized on the west side of the West Atlanta Fault #2 ("
WAF2
"), which forms the
western boundary of the West Atlanta Graben Zone ("
WAGZ
") and the
Atlanta
resource zone (Figures 1-3).
Wild West Zone Highlights:
Hole No.
From (m)
To (m)
Interval (m)
Au (g/t)
Ag (g/t)
AT24WS-83
387.1
429.8
42.7
4.67
25.3
Includes
408.4
426.7
18.3
7.94
18.3
AT24WS-80
373.4
408.4
35.1
2.66
6.3
Includes
390.2
399.3
9.1
5.06
8.4
AT24WS-69
*
323.2
396.3
73.2
1.48
5.5
Includes
352.0
356.6
4.6
4.97
4.6
And includes
304.8
306.3
1.52
11.00
4.2
AT24NS-193
*
247.0
297.3
50.3
1.29
19.2
Includes
280.5
283.5
3.0
3.72
16.5
AT24NS-194
*
257.6
300.3
42.7
2.08
18.5
Includes
266.8
272.9
6.1
6.32
40.8
Table 1. Highlight holes released today.
Mineralization occurs along near-horizontal horizons with true mineralized thickness estimated to be
90% to 100% of reported drill intercept
length. *Denotes hole that bottomed in mineralization.
As shown in Figure 1 below, drilling to date at
Atlanta
has focused on targeting gold mineralization primarily within the Atlanta Mine Fault Zone ("
AMFZ
")
highlighted in purple and the WAGZ highlighted in grey. The recent drilling at the WWZ, shown in green, identifies mineralization well beyond the boundaries of
the
Atlanta
resource zone,
returning thick intersections of high-grade gold mineralization in a new target area
that remains open to the west and south.
Figures 2 and 3 illustrate the current known dimensions of the WWZ. Bounded by the recent drilling and two historical holes (DHRI-11-11C and KR98-13), the
WWZ measures up to
200m
in the east-west direction and over
500m
in the north-south direction and remains open to the west and south. Highlight intervals
exhibit several high-grade intercepts including AT24WS-83 that returned
4.67 g/t Au over
42.7m
, including
7.94 g/t Au over
18.3m
.
Mineralization within the WWZ is heavily oxidized and is concentrated along the same near-horizontal unconformity observed in the neighboring AMFZ and
WAGZ. Mineralization is hosted within the silica breccia horizon along the unconformity and within a rhyolitic sill and tuffaceous volcanics directly above the
silica breccia. We see the same Au-Ag-As-Ba-Mo metals association within the WWZ as is seen in the adjacent WAGZ.
The WWZ discovery was made based off of a large CSAMT anomaly (Figure 4) and comes on the heels of two additional discoveries made with targeting
done by combining CSAMT results with other historical data – the
East Ridge discovery (
July 16, 2024
)
and the
South Quartzite Ridge discovery (
July 23, 2024
)
. Additional details are provided in the WWZ - CSAMT Geophysical Anomaly section below.
Figure 1. Simplified section W-W’ looking north across the AMFZ, WAGZ, and WWZ denoting mineralized horizons in relation to major structures. High-grade
zones exceeding 3 g/t Au are shown in dark pattern within the broader blanket. Today’s highlight hole AT24WS-83 shown at far west side within down-dropped
graben. (CNW Group/Nevada King Gold Corp.)
The WWZ is centred on discovery hole AT24WS-69 (
1.48 g/t Au over
73.2m
including 4.97 g/t Au over
4.6m
) that was sited approximately
80m
west of
the WAF2. Strong gold mineralization was encountered south, west, and northwest of this hole including
60m
south in AT24WS-83 (
4.67 g/t Au over
42.7m
including
7.94 g/t Au over
18.3m
),
48m
west in AT24WS-80 (
2.66 g/t Au over
35.1m
,
including
5.06 g/t Au over
9.1m
),
39m
northward in AT24WS-79
(1.56 g/t over
36.6m
including 3.79 g/t over
4.6m
and bottoming in mineralization), and
108m
northwest in holes AT24NS-193 and AT24NS-194, (
50.3m
of
1.29 g/t Au including 3.72 g/t Au over
3m
and
42.7m
of 2.08 g/t Au
including 6.32 g/t Au over
6.1m
, respectively).
WWZ mineralization remains open to the west
. Hole AT24WS-81 was collared
111m
northwest of AT24WS-69 and just entered mineralization when it was
lost at a TD depth of
436m
. Similar geochemistry and alteration encountered at the bottom of the hole confirms that WWZ mineralization remains open to the
west, where deeper drilling is required. Hole AT24WS-82, drilled
200m
NNW of AT24WS-69 was weakly mineralized, indicating a northern cutoff somewhere
between AT24WS-82 and AT24NS-194 for the WWZ.
WWZ mineralization also remains open to the south.
Today's holes drilled within the WWZ tested an area measuring 250 metres north-south and 200
metres east-west. However, similar geochemical/geophysical signatures were identified from previous drilling in holes DHRI-11-11C and KR98-13,
198m
and
248m
south of AT24WS-83, respectively. DHRI-11-11C included a high-grade interval of 6.89 g/t Au over
3.0m
, while KR98-13 encountered mineralization in
the last
1.5m
of the hole. These holes extend the length of WWZ to over
500m
north-south.
Cal Herron
, Exploration Manager of
Nevada King
, stated, "The
42.7m
@ 4.67 g/t Au intercept in AT24WS-83 marks a significant new intercept in an
underexplored part of the
Atlanta
property. This hole comes on the heels of another significant hit in AT24HG-41 (6.28 g/t Au over
54.9m
), beneath a barren cap
of massive quartzite at the northern end of the South Quartzite Ridge Target (
released
July 23, 2024
). Both holes are located outside of the
Atlanta
resource zone
in areas possessing sparse or no historical drilling and the drill results increase our optimism for further such discoveries at
Atlanta
. With these higher-grade
deeper zones of mineralization developing the Company is now conceptually pursuing the potential for a combination of open pit and underground accessible
resources at
Atlanta
. The Wild West Zone is a new discovery based in large part on drilling a strong geophysical anomaly, and it provides us with new targets to
chase southward, southwestward, and to depth -- all into untested territory. As a geophysical success story, it bodes well for our current regional reconnaissance
drilling program designed to test geophysical targets in previously untested areas. With three new discoveries under our belt – the East Ridge Target, the South
Quartzite Ridge Target, and now the Wild West Zone,
Nevada King
continues to push gold mineralization further north, east, south, and west of the historically-
explored
Atlanta
deposit, and given our drill results to date, the future looks promising for additional discoveries."
Figure 2. Plan view map of structural domains at Atlanta; AMFZ, WAGZ, NET, and the newly defined WWZ. Holes that did not go deep enough to define
mineralization are taken off plot for clarity, as are the dump holes. Vector arrows denote directions in which the WWZ mineralization remains open. (CNW
Group/Nevada King Gold Corp.)
Figure 3. Plan view map of the WWZ, WAGZ, and NET. Holes that did not go deep enough to define mineralization are taken off plot for clarity, as are the dump
holes. Vector arrows denote directions in which the WWZ remains open. (CNW Group/Nevada King Gold Corp.)
Figure 4. Plan view of WWZ drill holes relative to strong CSAMT anomaly interpreted as a deep intrusive stock (green resistivity high) ringed by a low resistivity
(red) fragmental blanket. Of the historical holes drilled south of the anomaly, AR-53 did not go deep enough, while AR-50, 51, and 55 hit weak Au-Ag
mineralization in silica breccia along the unconformity with underlying dolomite. (CNW Group/Nevada King Gold Corp.)
Figure 5. Simplified Section22 8N(4) looking north across the AMFZ, WAGZ, and WWZ denoting mineralized horizons in relation to major structures. High-grade
zones exceeding 3 g/t Au are shown in dark pattern within the broader blanket. (CNW Group/Nevada King Gold Corp.)
Figure 6. Oblique cross section view looking northwest showing downhole assay intervals of holes released across the WWZ. Holes that did not go deep enough
to define mineralization are taken off section for clarity, as are the dump holes. (CNW Group/Nevada King Gold Corp.)
Figure 7. Oblique cross section view looking southeast showing downhole assay intervals of holes released across the WWZ on the west side of the WAF2 shown
by the grey fault plane. Holes that did not go deep enough to define mineralization are taken off section for clarity, as are the dump holes. (CNW Group/Nevada
King Gold Corp.)
WWZ - CSAMT Geophysical Anomaly
The WWZ was initially discovered with drill hole AT24WS-69 (
1.48 g/t Au over
73.2m
starting at
323.2m
including 4.97 g/t Au over
4.6m
) that was sited
approximately
80m
west of the WAF2 and
65m
west of the nearest historical hole, and was oriented to test a magnetic and CSAMT anomaly interpreted to
be a deeply buried igneous stock (Figure 4). The hole targeted the margin of this potential stock, looking for later stage felsic intrusions and associated gold
mineralization that might have been emplaced along the stock's periphery as is seen in the southern end of the WAGZ.
Of particular interest is that the bottom
42m
averaging 1.51 g/t Au is hosted in altered dolomite, marking the first-time gold mineralization over a significant
length has been found at
Atlanta
in this rock type. The massive Ely Springs Dolomite at
Atlanta
is generally considered dense and impermeable and under
normal conditions has been interpreted as an unlikely candidate for gold mineralization. The distribution of dolomite-hosted mineralization within the WWZ
tends to coincide with the perimeter of the CSAMT high resistivity zone shown in Figure 4, which suggests the strong decalcification and subsequent
mineralization within the massive dolomite is tied to whatever formed the CSAMT anomaly, potentially fluids from a stock at depth. This in turn suggests
mineralization in the WWZ may be tied to a different fluid source than the one responsible for mineralizing the
Atlanta
resource zone, which would explain the
very low-grade mineralized zone that tends to separate the WWZ from the WAGZ/
Atlanta
resource zone. This fall-off in grade along the western margin of
the WAGZ was one of the reasons previous explorers assumed gold potential west of the resource zone was low and therefore did not generally pursue this
area with deeper drilling.
West Atlanta Graben Zone Highlights:
Four of the holes reported today were drilled within the northern part of the WAGZ in order to further extend mineralization northward and fully penetrate the
mineralized zone in areas where previous holes were unable to go deep enough. AT24WS-70 intercepted 1.43 g/t Au over
67.1m
starting at
250m
including
4.05 g/t Au over
6.1m
, which extended mineralization
25m
further to the northwest. Drilled along the western margin of the WAGZ within an area possessing
four holes that did not penetrate the mineralized zone, AT23WS-54 successfully intercepted 1.63 g/t Au over
41.2m
starting at
301.8m
including 6.96 g/t Au
over
4.6m
. This hole demonstrates the westward continuation of higher-grade mineralization up to the WAF2 that bounds the WAGZ on its western margin.
AT24WS-77 was sited
30m
north of AT24WS-54 but did not fully penetrate the mineralized zone. It did manage to recover within the upper high-grade zone,
hitting 0.91 g/t Au over
57.9m
starting at
307.9m
including 3.17 g/t Au over
3.0m
. AT24WS-65 was drilled immediately east of the WAF2,
130m
SSE of
AT24WS-083 hitting 1.09 g/t Au over
27.4m
starting at
355m
. This hole is consistent in grade and thickness compared to other holes drilled in this portion of
the WAGZ.
Hole No.
From (m)
To (m)
Interval (m)
Au (g/t)
Ag (g/t)
AT23WS-54
301.8
343.0
41.2
1.63
17.7
Includes
307.9
312.5
4.6
6.96
60.3
AT24WS-70
250.0
317.1
67.1
1.43
17.9
Includes
254.6
260.7
6.1
4.05
17.6
AT24WS-77*
307.9
365.9
57.9
0.91
9.9
Includes
347.6
350.6
3.0
3.17
10.6
AT24WS-79*
317.0
353.6
36.6
1.56
3.3
Includes
320.1
324.7
4.6
3.79
6.3
AT24WS-81
NSM
NSM
NSM
NSM
NSM
AT24WS-82
289.6
294.1
4.6
0.60
14.1
AT24WS-083
387.1
429.8
42.7
4.67
25.3
Includes
408.4
426.7
18.3
7.94
18.3
AT24WS-80
373.4
408.4
35.1
2.66
6.3
Includes
390.2
399.4
9.1
5.06
8.4
AT24WS-69
*
323.2
396.3
73.2
1.48
5.5
Includes
352.0
356.6
4.6
4.97
4.6
Includes
304.8
306.3
1.52
11.00
4.2
AT24WS-65
355.2
382.6
27.4
1.09
16.3
AT24NS-193
*
247.0
297.3
50.3
1.29
19.2
Includes
277.4
283.5
6.1
3.09
15.3
AT24NS-194
*
257.6
300.3
42.7
2.08
18.5
Includes
266.8
272.9
6.1
6.32
40.8
Table 2. All holes released today.
Mineralization occurs along near-horizontal horizons with true mineralized thickness estimated to be
90% to 100% of reported drill intercept length.
AT23 series holes drilled by
Nevada King
in 2023, AT24 series holes drilled in 2024.
*
Denotes hole bottoming in mineralization.
Hole No.
NSM
DHRI-11-20C
Not deep enough
DHRI-11-15C
Not deep enough
DHRI-11-NRC01
Not deep enough
DHRI-11-18C
Not deep enough
KR98-13
^
Not deep enough
AR-26
^
Not deep enough
AR-25
Not deep enough
AR-24
Not deep enough
AR-23
Not deep enough
AR-22
Not deep enough
Table 3. List of historic holes within the WWZ that did not go to depth of mineralization. DHRI series holes drilled by Meadow Bay in 2011, KR series drilled by
Kinross
in 1998, and AR
series drilled by Goldfields in 1991.
^
Denotes angled hole.
Hole No.
From (m)
To (m)
Interval (m)
Au (g/t)
Ag (g/t)
DHRI-11-19C
431.3
443.5
12.2
0.23
1.58
DHRI-11-11C
297.2
439.0
141.8
0.569
17.4
Includes
423.8
426.8
3.0
6.89
30.0
Table 4. List of historic holes within the WWZ that intersected the mineralized horizon. DHRI series holes drilled by Meadow Bay in 2011.
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 ("
NI 43-101
").
About Nevada King Gold Corp.
Nevada King
holds a 100% interest in the Atlanta Mine, 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 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 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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CNW 07:30e 19-AUG-24