Nevada KING Intercepts 6.14 G/T Au over 30.7M, 4.15 G/T Au over 35.1M and 3.08 G/T Au over 48.8M, Confirms Strong Intrusive Connection to GOLD Mineralization at Atlanta
NEVADA KING INTERCEPTS 6.14 G/T AU OVER 30.7M, 4.15 G/T AU OVER
35.1M AND 3.08 G/T AU OVER 48.8M, CONFIRMS STRONG INTRUSIVE
CONNECTION TO GOLD MINERALIZATION AT ATLANTA
VANCOUVER, BC
,
June 5, 2024
/CNW/ -
Nevada King Gold Corp.
(TSXV: NKG) (OTCQX: NKGFF) ("
Nevada King
" or the "
Company
") is pleased to announce
assay results from one metallurgical core hole and two 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 along updated Section 23-7N(4), (Figures 1-2).
Highlights:
Hole No.
From (m)
To (m)
Interval (m)
Au (g/t)
Ag (g/t)
Zone
AT23NS-54C
+
160.1
190.9
30.7
6.14
79.3
WAF
includes
162.3
188.1
25.8
6.94
90.5
WAF
AT24NS-174B
^
109.8
158.5
48.8
3.08
33.2
WAF
includes
118.9
125.0
6.1
7.00
75.5
WAF
AT24NS-174C
^
103.7
138.7
35.1
4.15
47.4
WAF
includes
105.2
111.3
6.1
11.06
110
WAF
Table 1. Holes released today. Mineralization occurs along the northerly-trending West Atlanta Fault within an intrusive breccia zone dipping 60
o
to 70
o
west. True mineralized thickness estimated to be 35% to 45% of reported intercept length.
+
Denotes core hole.
^
Denotes steep angle hole (-83
o
dip).
Core hole AT23NS-54C intercepted
6.14 g/t Au and 79.3 g/t Ag over
30.7m
and was sited to collect mineralized silica breccia occurring along the West
Atlanta Fault ("
WAF
") for the ongoing Phase II metallurgical testwork program. The WAF forms the fault boundary between the Atlanta Mine Fault Zone
("
AMFZ
") on the east and the West Atlanta Graben Zone ("
WAGZ
") on the west.
Angle holes AT24NS-174B (
3.08 g/t Au over
48.8m
) and AT24NS-174C (
4.15 g/t Au over
35.1m
) were designed to infill a gap in drill coverage along the
western side of the AMFZ and also track the southern extension of the northerly-trending high-grade intrusive contact in the hanging wall of the WAF that was
intercepted in adjacent holes (see Table 2 below) along lines both north and south of Section 23-7N(4) as shown in Figure 3.
These closely-spaced angle holes clearly demonstrate a consistent 60
o
to 70
o
west dip to this mineralized zone that likely served as the
Atlanta
deposit's
main hydrothermal flue (or feeder) along the WAF. The zone is between
15m
and
20m
true thickness and is bounded on the east by massive Eureka
Quartzite. Mineralization is hosted within strongly silicified fault and hydrothermal breccias mixed with silicified volcanics and narrow intrusive dikes. The
highest gold grades tend to occur along contacts with silicified porphyritic rhyolite dikes.
As shown in Figure 3, this high-grade, intrusive dominated zone looks to vear NW and pinch out but remains open to the south where it appears to widen and
curve southwestward and possibly connect to more high-grade intercepts along Section 22-4N.
Referring to Figure 2, gold mineralization thickens and flattens moving westward and eastward from this WAF feeder zone as the hydrothermal fluids
migrated laterally into receptive volcanic and intrusive host rocks within the adjacent WAGZ as well as along the low-angle unconformity separating younger
volcanics and intrusions from underlying Paleozoic basement rocks in the AMFZ. The silica breccia unit hosting most of the mineralization along the fault was
originally interpreted as having formed along the sub-horizontal unconformity and subsequently down dropped in a step-like manner across the fault zone.
However, recent re-logging of drill data revealed that much of the silica breccia within this steeply dipping structure is intensely silicified, brecciated rhyolitic
intrusive rock as opposed to strongly silicified dolomitic rock underneath the unconformity. Trace element enrichment in chromium coupled with depletion of
titanium and magnesium within the silica breccia confirm a largely rhyolitic host rock (prolith). Understanding this direct relationship between rhyolitic intrusions
and high-grade gold mineralization could be a key indicator for understanding and potentially targeting gold distribution throughout the
Atlanta
district.
Cal Herron
, Exploration Manager of
Nevada King
, stated, "The
Atlanta
gold/silver deposit evolved within a complex geological environment replete with long-lived
faulting, caldera resurgence, multiple intrusive events, and numerous mineralizing events. It is this complexity and interplay of recurring events over a long period of
time that can allow for the formation of large gold systems. The Company is in the midst of a relogging program with a close focus on trace element geochemical
patterns to identify protoliths within strongly altered/mineralized zones, which will allow us to further refine our geologic model. By focusing on stable trace
elements that remain relatively immobile during hydrothermal alteration, we have been able to differentiate protolith types within the silica breccia unit to more
accurately identify critical structures and lithotypes responsible for gold mineralization. For example, the resistate metals suite consisting of titanium-chromium-
magnesium does a good job of differentiating dacitic, rhyolitic, quartzite, and dolomite protoliths; while the hydrothermal suite gold-arsenic-antimony-molybdenum-
thallium-barium works well for identifying hydrothermal flues/feeders and preferred fluid pathways hosting higher gold grades. With this understanding in place, we
now see opportunities for applying this knowledge to unlock the potential of
Atlanta
both at the district scale as well as within the immediate vicinity of the
Atlanta
deposit, such as at the South Quartzite Ridge Target, the North Extension Target, the East Ridge Target, and potentially to depth."
Line
#
Hole No.
From (m)
To (m)
Interval (m)
Au (g/t)
9
AT23NS-133E
*
122.0
202.7
80.8
1.99
includes
196.6
198.2
1.5
10.25
8
AT22NS-053
157
224.1
67.1
2.88
includes
205.8
218.0
12.2
11.12
8
AT23NS-174
*
117.4
186.0
68.6
6.90
includes
166.2
176.8
10.7
19.20
8
AT23NS-174A
*
118.9
196.6
77.7
4.90
includes
169.2
172.3
3.0
19.35
8
AT23NS-133F
*
117.4
199.7
82.3
6.55
includes
184.5
196.6
12.2
26.71
7
AT24NS-174B
*
109.8
158.5
48.8
3.08
includes
118.9
125.0
6.1
7.00
7
AT24NS-174C
*
103.7
138.7
35.1
4.15
includes
105.2
111.3
6.1
11.06
6
AT22NS-68
134.0
163.1
29.1
4.03
includes
157.0
160.1
3.1
10.03
6
AT23NS-131C
*
132.6
172.3
39.6
4.91
includes
144.8
154.0
9.2
12.94
Table 2. Mineralized intervals in RC holes defining a northerly-trending high-grade zone along the hanging wall side of the steeply west-dipping West Atlanta Fault ("WAF"). True mineralized thickness estimated to be between 25% and 50% of reported
intercept length and is dependent on hole dip and location of entry point into the WAF structure.
*
Denotes angle hole.
Figure 1. Location map for holes reported in this news release along updated drill Section 23-7N(4) 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 22-7N(4) looking north across the WAF 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, tuffaceious sediments, and shallow felsic intrusions above the Paleozoic basement. (CNW Group/Nevada
King Gold Corp.)
Figure 3. Detailed view of drill intercepts into the steeply west-dipping high grade zone that formed along the West Atlanta Fault and channeled mineralizing fluids
laterally into receptive horizons within the Atlanta Mine Fault Zone on the east and West Atlanta Graben Zone on the west. The surface footprint of this high grade
zone is outlined by the hatched gray line. (CNW Group/Nevada King Gold Corp.)
Hole No.
From (m)
To (m)
Interval (m)
Au (g/t)
Ag (g/t)
Zone
AT23WS-47
219.5
332.3
112.8
0.58
3.2
WAGZ
AT23WS-48
207.3
346.0
138.7
0.32
5.3
WAGZ
AT23HG-38
214.9
329.3
114.3
1.43
16.5
WAGZ
AT23NS-131C
*
132.6
172.3
39.6
4.91
41.4
WAF
AT23NS-133A
*
99.1
123.5
24.4
2.33
24.6
AMFZ
AT23NS-133B
*
99.1
120.4
21.3
2.99
22.8
AMFZ
AT23NS-133D
*
73.2
97.6
24.4
2.25
23.3
AMFZ
AT23WS-36
242.4
335.4
93.0
0.54
7.6
WAGZ
AT22HG-6
189.0
256.1
67.1
1.34
6.4
WAGZ
AT23HG-23
227.1
317.1
89.9
0.57
11.5
WAGZ
AT23NS-125
*
74.7
109.8
35.1
1.26
31.9
AMFZ
AT22HG-5
186.0
279.0
93.0
1.14
2.1
WAGZ
AT22HG-3T
170.4
285.4
93.6
2.18
17.1
WAGZ
AT22HG-4
175.3
240.9
41.2
1.92
22.7
WAGZ
AT22NS-68
134.1
163.1
29.0
4.03
21.2
WAF
AT22NS-54
170.7
216.5
45.7
4.21
79.6
WAF
AT22NS-56A
93.0
106.7
13.7
1.88
38.5
AMFZ
AT22NS-76
70.1
100.6
30.5
2.39
41.5
AMFZ
AT22NS-73
22.9
103.7
80.8
2.31
47.4
AMFZ
AT21-68C
+
99.1
120.3
21.2
3.28
34.4
WAF
Table 3
. Previously reported holes used along updated Section 22-7N(3). 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 for holes
penetrating the WAF is 30% to 45% of the reported intercept length. True thickness in holes penetrating the AMFZ and WAGZ is interpreted to be 90% to 100% of the reported intercept length in vertical holes and 75% to 90% of reported intercept length in angle
holes.
+
Denotes core hole.
*
Denotes angle hole.
Hole No.
From (m)
To (m)
Interval (m)
Au (g/t)
Ag (g/t)
AR-21
240.8
304.8
64
0.39
4.21
AR-19
228.6
304.8
76.2
0.82
3.52
KR97-9
*
175.3
210.4
35.1
4.81
25.2
includes
196.6
201.2
4.6
21.83
27.8
DHRI-11-6C
+
227.1
295.1
68
1.11
15.7
DHRI-11-1C
+*
74.7
97.5
22.8
1.90
19.7
Table 4.
Historical holes used in updated Section 22-7N(3). AR series holes were drilled by Goldfields in 1991. KR series holes were drilled by Kinross in 1997. DHRI series holes were drilled by Meadow Bay in 2011. True thickness of gold mineralization
interpreted in today's release is 90% to 100% of the reported intercept length in vertical holes. True mineralized thickness in angle holes estimated to be 75% to 90% of reported intercept length.
+
Denotes core hole.
*
Denotes
angle hole.
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 Au
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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For further information:
Collin Kettell at [email protected] or (845) 535-1486.
CO: Nevada King Gold Corp.
CNW 07:30e 05-JUN-24