Nevada KING Intercepts 4.51 G/T Au over 86.3M Including 7.77 G/T Au over 43M, Further Expands High-Grade Zone 200M North of the Atlanta Pit
NEVADA KING INTERCEPTS 4.51 G/T AU OVER 86.3M INCLUDING 7.77 G/T
AU OVER 43M, FURTHER EXPANDS HIGH-GRADE ZONE 200M NORTH OF
THE ATLANTA PIT
VANCOUVER, BC
,
April 3, 2024
/CNW/ -
Nevada King Gold Corp.
(TSXV: NKG) (OTCQX: NKGFF) ("
Nevada King
" or the "
Company
") is pleased to announce
results from four vertical, reverse circulation ("
RC
") holes and one vertical, PQ-diameter diamond core hole completed in the northern portion of the West Atlanta
Graben Zone ("
WAGZ
") at its 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
.
Highlights:
Hole No.
From (m)
To (m)
Interval (m)
Au (g/t)
Ag (g/t)
AT23WS-23C.1
*+
226.2
312.5
86.3
4.51
50.7
Includes
256.3
299.2
43
7.77
25.1
Includes
256.3
261.3
5
18.34
1.9
AT23WS-58
213.4
297.2
83.8
0.75
5.4
AT23WS-61
*
243.8
294.1
50.3
1.56
13.2
Table 1: Highlight holes released on section 22N-17N(2). Mineralization occurs along near-horizontal horizons with true mineralized thicknesses estimated to be
85% to 95% of reported drill intercept length.
*
Denotes hole bottoming in mineralization.
+
Denotes core hole.
Core hole AT23WS-23C.1 intercepted
4.51 g/t Au over
86.3m
including 7.77 g/t Au over
48.6m
and was collared
6m
north of RC hole AT23WS-23, which
intercepted 2.45 g/t Au over
102.1m
, (
released
June 6, 2023
). AT23WS-23C.1 was planned to provide metallurgical material for the ongoing Phase II test
work program, as well as to verify the RC drilling.
While core hole AT23WS-23C.1 shows a 60% increase in overall grade, a comparison of gold distribution in AT23WS-23C.1 with AT23WS-23 (see Table 4
below) reveals close lateral correlation. This is particularly evident when comparing elevations of the upper high-grade zones (highlighted in yellow in Table 4)
and the lower high-grade zones (highlighted in magenta). The sub-horizontal geometry of these zones suggests higher grade mineralization along low-angle
bedding features or breccia horizons.
As shown below in Figure 1, the high-grade intercepts in AT23WS-23C.1 and adjacent AT23WS-23 also add definition to a developing, northwest-trending
high-grade zone along the axis of the WAGZ that currently spans
200m
long by
70m
wide. Relative to the location of AT23WS-23C.1, other previously
reported holes of note within this zone include:
AT23WS-44 (11.64 g/t Au over
108.2m
) located
56m
southeast;
AT23WS-53 (2.72 g/t Au over
64m
) located
34m
to south;
AT23WS-62 (6.09 g/t Au over
41.5m
) located
41m
southwest;
AT23WS-34 (1.74 g/t Au over
114.3m
) located
82m
to the southeast; and
AT23WS-56 (1.55 g/t Au over
94.5m
) located
108m
southeast.
At least two high-grade feeder zones appear to be responsible for this well mineralized zone. Holes AT23WS-23C.1, AT23WS-44, AT23WS-34, and
AT23WS-56 most likely share the same NW-trending basement structure, whereas AT23WS-62 probably tapped into a different structure with a different
orientation. It is also important to note the high proportion of holes shown in Figure 1 that bottomed in mineralization and did not fully penetrate both of the
high-grade horizons described above. The Company is currently re-drilling these holes along the NW trend connecting AT23WS-23C.1 and AT23WS-44 in
order to obtain representative Au/Ag grade averages through the entire mineralized sequence.
Figure 1. Detailed plot of historical and Nevada King drill holes in the northern end of the WAFZ. A northwest-trending “core zone” of higher-grade and thicker
mineralization formed at the intersection of the westerly-trending North Fault with the northerly trending West Atlanta #1 and West Atlanta #2 Faults. Stars denote
holes that did not fully penetrate both the upper and lower high-grade projected zones or suffered serious sample loss within these zones. (CNW Group/Nevada
King Gold Corp.)
Holes AT23WS-58 and AT23WS-59 intercepted
0.75 g/t Au over
83.8m
and 0.86 g/t Au over
61.7m
, respectively, filling in a previously untested
45m
-wide
gap between the WAGZ and the Atlanta Mine Fault Zone ("
AMFZ
"). As shown in Figure 3, both holes extend the thick mineralization found in the centre of the
WAGZ eastward to the West Atlanta Fault, thus building additional tonnage potential.
AT23WS-61 (
50.3m
of 1.56 g/t Au)
was lost just short of entering the lower high-grade zone (Figure 3), but the hole did demonstrate continuance of the
thick mineralization seen in the middle of the WAGZ westward to the West Atlanta Fault #2 ("
WAF2
"), which bounds the western margin of the WAGZ. This is
particularly important when taking into account the low-grade intercepts in two historical holes located only
32m
west of AT23WS-61 but on the western side
of the WAF2. Neither DHRI-11-15C (
67.1m
@ 0.28 g/t Au) nor DHRI-11-NRC01 (
27.4m
@ 0.42 g/t Au) indicated potential for the thick, much higher-grade
mineralization encountered in AT23WS-61, much less in the centre of the WAGZ.
Cal Herron, Exploration Manager of
Nevada King
, stated, "The Company's multiple structure model continues to lead to thick, high-grade mineralized zones. In
addition to following high-angle structures that served as loci for higher grade Au-Ag mineralization,
Nevada King's
success at increasing both grade and thickness
can also be attributed to achieving full penetration of the low-angle unconformity that hosts most of the mineralization at
Atlanta
. The occurrence of two separate,
sub-horizontal high-grade horizons as illustrated in Table 4 is replicated throughout the
Atlanta
system but is most often observed in the WAFZ where the deeper
high-grade occurs in the carbonate section at or directly above the unconformable basement contact, while the shallower high-grade is hosted in the volcanic
sequence above the unconformity. Higher grade and thicker intercepts occur close to feeder structures controlling the mineralization, as seen in AT23WS-23C.1,
while grades decrease and thin laterally away from the feeders as seen in AT23WS-23."
Figure 2. Location map for holes reported in this news release along drill Section22-17N(2) relative to the perimeter of 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 3. Cross section 22-17N(2) looking north across the northern ends of the WAGZ and AMFZ. High-angle, northerly trending faults channeled shallow sub-
volcanic intrusions and Au/Ag bearing fluids up into a highly receptive horizon developed at the erosional surface (unconformity) separating Paleozoic dolomite
from overlying Tertiary-age volcanics. (CNW Group/Nevada King Gold Corp.)
Hole No.
From (m)
To (m)
Interval (m)
Au (g/t)
Ag (g/t)
AT23WS-23C.1
*+
226.2
312.5
86.3
4.51
50.7
Includes
256.3
299.2
43
7.77
25.1
Includes
256.3
261.3
5
18.34
1.9
AT23WS-58
213.4
297.2
83.8
0.75
5.6
AT23WS-59
216.5
283.5
67.1
0.86
10.9
AT23WS-61
*
243.9
294.2
50.3
1.56
13.2
AT23NS-149
175.3
193.6
18.3
0.45
10.3
Table 2. All holes released today on section 22-17N(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.
*
Denotes holes that bottomed in
mineralization. + Denotes core holes.
Hole No.
From (m)
To (m)
Interval (m)
Au (g/t)
Ag (g/t)
AT21-10
*
150.9
152.4
1.5
0.24
0.7
AT21-11
^
15.2
21.3
6.1
0.45
10.9
AT22WS-1
*
239.3
304.9
65.5
1.52
11.6
AT22WS-12
*^
204.3
259.1
54.9
0.21
1.2
AT23WS-15
213.4
248.5
35.1
0.50
8.4
AT22NS-26T
+
119.2
138.3
19.1
0.39
11.6
AT22NS-27
51.8
71.6
19.8
0.41
12.5
AT23WS-23
230.2
332.3
102.1
2.45
10.1
Includes
288.1
300.3
12.2
8.78
11.8
AT23WS-18
225.6
283.5
57.9
1.48
8.5
DHRI-11-NRC1
*
310.9
338.3
27.4
0.42
5.93
DHRI-11-15C
+
266.7
333.8
67.1
0.28
8.4
Table 3. Previously released and historical holes used on section 22-17N (2). AT series holes drilled by Nevada King in 2021 and 2022. DHRI series holes drilled by Meadow Bay in 2011.
*
Denotes hole that bottomed in mineralization.
+
Denotes core hole.
^
Denotes
aggregate assay interval.
AT23WS-23C.1
AT23WS-23
From (m)
To (m)
Interval (m)
Au (g/t)
From (m)
To (m)
Interval (m)
Au (g/t)
232.3
233.8
1.5
0.376
230.1
231.7
1.5
0.239
233.8
235.3
1.5
0.749
231.7
233.2
1.5
0.145
235.3
236.8
1.5
0.547
233.2
234.7
1.5
0.507
236.8
238.4
1.5
0.409
234.7
236.2
1.5
0.447
238.4
239.9
1.5
1.67
236.2
237.7
1.5
0.481
239.9
241.3
1.4
1.1
237.7
239.3
1.5
0.496
241.3
242.8
1.5
0.8
239.3
240.8
1.5
0.393
242.8
244.0
1.2
1.57
240.8
242.3
1.5
0.38
244.0
245.2
1.2
2.88
242.3
243.8
1.5
0.428
245.2
246.7
1.5
1.94
243.8
245.4
1.5
0.427
246.7
247.7
0.9
0.624
245.4
246.9
1.5
0.755
247.7
248.6
0.9
0.147
246.9
248.4
1.5
8.74
248.6
249.6
1.1
0.426
248.4
249.9
1.5
12.98
249.6
250.5
0.9
1.2
249.9
251.5
1.5
8.61
250.5
252.1
1.5
5.94
251.5
253.0
1.5
0.643
252.1
253.6
1.5
3.52
253.0
254.5
1.5
0.39
253.6
255.1
1.5
4.52
254.5
256.0
1.5
0.683
255.1
256.2
1.1
4.03
256.0
257.6
1.5
3.32
256.2
257.7
1.5
15.87
257.6
259.1
1.5
2.88
257.7
258.8
1.1
11.90
259.1
260.6
1.5
1.69
258.8
259.7
0.9
26.97
260.6
262.1
1.5
1.64
259.7
261.2
1.5
20.13
262.1
263.7
1.5
1.55
261.2
262.7
1.5
1.35
263.7
265.2
1.5
1.05
262.7
263.7
0.9
1.3
265.2
266.7
1.5
0.861
263.7
265.5
1.8
2.53
266.7
268.2
1.5
0.542
265.5
267.0
1.5
4.19
268.2
269.8
1.5
1.27
267.0
268.5
1.5
5.02
269.8
271.3
1.5
1.61
268.5
270.1
1.5
1.53
271.3
272.8
1.5
1.18
270.1
271.6
1.5
4.59
272.8
274.3
1.5
1.97
271.6
273.3
1.7
6.78
274.3
275.8
1.5
1.5
273.3
274.8
1.5
12.6
275.8
277.4
1.5
2.86
274.8
275.4
0.6
11.45
277.4
278.9
1.5
3.08
275.4
276.9
1.5
12.37
278.9
280.4
1.5
1.64
276.9
278.0
1.1
8.34
280.4
281.9
1.5
2.22
278.0
279.5
1.5
10.42
281.9
283.5
1.5
5.41
279.5
281.0
1.5
14.28
283.5
285.0
1.5
4.44
281.0
282.6
1.5
5.02
285.0
286.5
1.5
2.09
282.6
283.8
1.2
6.25
286.5
288.0
1.5
4.86
283.8
285.3
1.5
9.82
288.0
289.6
1.5
7.95
285.3
286.8
1.5
6.71
289.6
291.1
1.5
9.53
286.8
287.7
0.9
5.29
291.1
292.6
1.5
13.97
287.7
289.3
1.5
3.89
292.6
294.1
1.5
11.4
289.3
290.5
1.2
1.75
294.1
295.7
1.5
7.66
290.5
291.7
1.2
4.61
295.7
297.2
1.5
6.68
291.7
293.5
1.8
4.24
297.2
298.7
1.5
5.93
293.5
295.0
1.5
3.53
298.7
300.2
1.5
7.1
295.0
296.6
1.5
8.13
300.2
301.8
1.5
1.44
296.6
297.8
1.2
13.28
301.8
303.3
1.5
1.93
297.8
299.2
1.4
5.02
303.3
304.8
1.5
0.565
299.2
300.8
1.7
0.762
304.8
306.3
1.5
0.543
300.8
302.4
1.5
0.976
306.3
307.9
1.5
0.423
302.4
303.6
1.2
1.66
307.9
309.4
1.5
0.299
303.6
305.1
1.5
0.702
309.4
310.9
1.5
0.306
305.1
306.8
1.7
0.262
310.9
312.4
1.5
0.224
306.8
308.0
1.2
0.368
312.4
313.9
1.5
0.176
308.0
310.0
2.0
0.171
313.9
315.5
1.5
0.231
310.0
312.4
2.4
0.412
315.5
317.0
1.5
0.27
312.4
313.3
0.9
0.06
317.0
318.5
1.5
0.155
313.3
314.9
1.5
0.159
318.5
320.0
1.5
0.183
Table 4. Comparison of Au assays from core hole AT23WS-23C.1 and RC hole AT23WS-23 including drill depths and sample interval lengths. RC sampling is done on 1.5-metre intervals while core drilling varies in interval size with the ability to tighten or
broaden sample size with relation to structure, contacts, and strong mineralization. Yellow highlighted intervals indicate the Upper High-Grade Zone, while magenta highlighted intervals denote the Lower High-Grade Zone. Both high grade zones
often occur
together throughout the Atlanta deposit.
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.
The PQ-diameter core was sampled in the Company's warehouse in
Winnemucca, Nevada
, with whole core samples being placed in heavy canvas bags and sent
to American Assay Lab in
Reno, Nevada
, in heavy shipping bags by a Company contractor with full custody being maintained at all times. CRF standards and
coarse blanks were inserted into the sample stream on a one-in-twenty sample basis, meaning both inserts are included in each 20-sample group. At American
Assay Lab, samples were weighted then completely crushed to -1 inch. The coarse-crushed sample was quarter-split and one quarter was reduced to 75%
passing 2mm. A 300g split was subsequently pulverized to 85% passing 75 microns. 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.
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 3. 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:
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CO: Nevada King Gold Corp.
CNW 07:30e 03-APR-24