Nevada KING Intercepts 83.9 Metres of 1.04 G/T GOLD at Lewis Project, Battle Mountain Trend, Nevada
NEVADA KING INTERCEPTS 83.9 METRES OF
1.04 G/T GOLD AT LEWIS PROJECT, BATTLE
MOUNTAIN TREND, NEVADA
VANCOUVER, BC
,
April 28, 2022
/CNW/ -
Nevada King Gold Corp.
(TSXV: NKG) (OTCQX:
NKGFF) ("
Nevada King
" or the "
Company
") is pleased to announce results from a 1,150 metre,
reverse circulation ("
RC
") drilling program at its 5,500 hectare, 100% owned Lewis Gold Project
("
Lewis
"), located approximately 21km south of
Battle Mountain, Nevada
. Lewis is surrounded by
major producing gold mines in every direction including
Phoenix
(23km NW),
McCoy Cove
(28km
SW), Pipeline (26km SE), and Cortez (36km SE), see Figure 1.
Highlights
Nevada King
initiated its maiden drill program at Lewis in
October 2021
and drilled a total of
1,150m
in 18 RC holes with the primary objectives of (1) substantiating historical drill results
within the Celestine O'Neal and Rocky Canyon targets, and (2) testing for lateral extensions of
gold mineralization with step-out drilling.
Seven holes successfully tested the Celestine O'Neal target, confirming historical drill grades
and intersect lengths and extending mineralization southward. Highlights utilizing a 0.3 g/t Au
external cutoff grade, include:
1
.
Angle hole LS21-015 - Intercepted
83.9m
averaging 1.04 g/t Au
, including two distinct zones
of gold mineralization:
15.2m
of 1.55 g/t Au from
33.5m
to
48.8m
, and
62.5m
of 1.02 g/t from
54.9m
to
117.4m
.
2
.
Vertical hole LS21-008, located
240m
south of the Celestine O'Neal target area, intersected
two mineralized zones:
9.1m
averaging 1.79 g/t Au from
76.2m
to
85.4m
, and
13.7m
averaging
2.50 g/t Au from
154.0m
to
167.7m
. This also included
1.5m
grading 15.73 g/t Au from
163.1m
to
164.6m
.
The
1.5m
grading 15.73 g/t in LS21-008 is particularly interesting due to the high-grade gold
mineralization encountered and the
120m
distance from the closest southern most historical hole
at Celestine O'Neal, an area that had not previously been drilled. Drill testing for gold
mineralization in this southwest direction under the overburden cover is a priority of
Nevada
King's
2022 program.
Drilling at Rocky Canyon encountered intensely fractured rock that created challenging drilling
conditions and, consequently, the Company was not able to adequately test its intended targets
in this phase of drilling. The Rocky Canyon target is bounded on two sides by areas hosting
extensive historical drilling with significant gold mineralization and thus remains a high priority
target that the Company will be testing in its 2022 program. Historical drilling completed by
Cameco intercepted significant gold mineralization such as
24m
averaging 1.06 g/t Au,
33m
averaging 1.48 g/t Au including
1.52m
averaging 24.15 g/t Au, and
46m
averaging 0.59 g/t Au,
(see
November 9, 2021
release
for full details of historical intercepts).
Cal Herron
, Exploration Manager of
Nevada King
, stated, "The Lewis Project was originally acquired
due to its strategic location along the
Battle Mountain
gold trend within the heart of Nevada's gold
country. The property is surrounded by a number of major producing gold deposits. With its prime
location and the presence of widespread, well-mineralized historical drill holes on it, the Company
sees Lewis as a rare opportunity to leverage off this substantial historical work and believes it offers
an outstanding risk/reward proposition for potential discovery. The historical data package for Lewis
includes assay data for over 250 drill holes, as well as surface sample results and summary reports.
Utilizing this large amount of data the Company has interpreted a strongly mineralized gold system at
Lewis that is open in multiple directions.
In spite of inclement weather starting in November of last year and challenging drilling conditions, the
program successfully confirmed historical results in the Celestine O'Neal target with LS21-001, 002,
003, and 015, while step-out hole LS21-008 demonstrated continuity of mineralization southward
from the historical Celestine O'Neal resource zone (Figure 2). Table 1 summarizes results from its
2021 program including significant intervals of gold mineralization. The Company is very encouraged
by the long intervals of consistent gold mineralization encountered in the recent drilling that
incorporate areas of high-grade gold. This drilling confirms the Company's interpretation based on
extensive historical work that the Lewis property encompasses a strong gold mineralizing system.
Results of the recent work has refined targets in several priority areas that will be tested in 2022
with an expanded phase of drilling."
Figure 1. Distribution of historical drill holes at Lewis in relation to contoured Grade X Thickness and
historical resource zones. Red arrows denote vector direction of Au mineralization. Location of
Nevada King’s 2021 RC drill holes (blue dots) and historical drill holes (black circles). (CNW
Group/Nevada King Gold Corp.)
Figure 2. Location of 2021 RC drill holes (blue and light blue dots) relative to major exploration
targets and existing roads (black dashed and dotted lines). Targets as denoted by the purple
hatched areas are defined by vectors derived from historical drill results together with surface
sample results. Historical drill holes shown by black circles. (CNW Group/Nevada King Gold Corp.)
Figure 3.
Drill section A-A’ looking east at the Celestine O’Neal target area at the shallow dipping
mineralized zone obscured by non-mineralized limestone emplaced along a landslide plane or
detachment fault. LS21-008 hit 1.5m grading 15.73 g/t Au at 163m (535’) depth. (CNW
Group/Nevada King Gold Corp.)
Table 1. 2021 Nevada King RC Drill Results
Hole
TD (m)
From (m)
To (m)
Length (m)
Avg Au (g/t)
Notes
LS21-001
91.5
36.6
41.2
4.6
0.934
LS21-002
106.7
9.1
64.0
54.9
1.3
Values up to 4.49 g/t
89.9
94.5
4.6
0.682
LS21-003
112.8
32.0
41.2
9.1
1.733
Values up to 3.78 g/t
85.4
86.9
1.5
1.88
LS21-004
15.2
Hole did not penetrate overburden
LS21-005
140.2
33.5
41.2
7.6
0.548
64.0
71.6
7.6
0.626
86.9
109.8
22.9
0.248
LS21-006
12.2
Hole did not penetrate overburden
LS21-007
45.7
Hole did not penetrate overburden
LS21-008
173.8
76.2
85.4
9.1
1.794
Values up to 3.34 g/t
154.0
167.7
13.7
2.501
Values up to 15.733 g/t
LS21-009
36.6
Hole did not penetrate overburden
LS21-010
29.0
13.7
15.2
1.5
0.618
LS21-011
12.2
Hole did not penetrate overburden
LS21-012
51.8
6.1
7.6
1.5
0.95
10.7
12.2
1.5
0.65
LS21-013
30.5
9.1
10.7
1.5
0.381
24.4
25.9
1.5
0.418
LS21-014
29.0
15.2
18.3
3.0
1.595
LS21-015
149.4
33.5
117.4
83.9
1.04
includes
33.5
48.8
15.2
1.546
*includes
44.2
48.8
4.6
3.37
includes
54.9
117.4
62.5
1.021
*includes
85.4
94.5
9.1
2.1
LS21-016
15.2
Hole did not penetrate overburden
LS21-017
18.3
Hole did not penetrate overburden
LS21-018
85.4
29.0
30.5
1.5
0.887
True vertical thickness of mineralization is approximately 80% to 90% of hole intercept
length.
Summary of 2021 Drilling
The 2021 drilling at the Celestine O'Neal target reveals the presence of a strong epithermal gold
system, as evidenced by
Nevada King's
drill results and historical drill records together with the
observed strong micro-veining and well-banded quartz-carbonate-sulfide veins. The geochemistry
and style of sulfide mineralization looks similar to the gold mineralization reported at Nevada Gold
Mines' Robertson deposit (1-2 million oz Au), which is currently in the exploration stage about 7km
north of their large Pipeline mine and 22km southeast of the Lewis Project.
The fact that this mineralization is buried beneath a geochemically "dead" limestone unit changes the
game at Lewis. Historical drilling generally concentrated on areas with strong, surficial rock and soil
anomalies, while areas lacking gold anomalies were avoided. This blanket of landslide or
detachment debris effectively hides the underlying gold mineralization and opens up a large area for
Nevada King
to explore that was ignored by previous operators.
Based on the drilling at Celestine O'Neal, the geology as seen in outcrop and RC cuttings is
summarized below, starting with the youngest rocks.
Unaltered Tertiary-age andesite flows and felsic welded tuff represent the youngest unit at
Lewis. These rocks cover the ridge tops south and east of the Record Target area and form a
relatively flat plateau that extends several kilometers southward to
Lewis Peak
. Normal faulting
dropped wedges of welded tuff down into the Paleozoic section at the head of Rocky Canyon.
A non-mineralized, greenish-brown limestone mapped in the area as Triassic age appears to
have been emplaced above the underlying mineralized limestone unit along a detachment or
landslide surface striking N-S and dipping 16
o
west. This unit largely obscures the mineralization
at Celestine O'Neal and forms the high ridge south and west of the target area. The rock is
covered by Tertiary volcanics immediately south of the Record Target. The basal contact is
marked by a very broken rubble zone and brown to black clayey horizon resembling a paleo-soil
or possibly a fault gouge. The unit lacks a gold and tracer element signature and is
geochemically distinctly different from the underlying, mineralized limestone, which suggests
post-mineral emplacement via a fault or gravity slide mechanism. The absence of a geochemical
signature within this unit may well have discouraged historical exploration in the large area south
and southwest of Celestine O'Neal and Record.
A greenish-brown limestone looking much like the non-mineralized unit described above occurs
beneath the dark clayey contact zone, but an abrupt increase in arsenic from tens of ppm to
well over 1000ppm occurs at the contact and continues downward into the underlying, more
strongly mineralized siltstone-sandstone unit. In addition to the strong increase in arsenic, a
similar abrupt jump in Au-Ag-Bi occurs. Weak silicification and sparse quartz veinlets are noted
in the limestone, but alteration is very subtle. The basal contact is marked by what looks like a
shear or possibly a strongly altered karst zone.
Strongly silicified fine-grained calcareous siltstone, fine-grained sandstone, and arkosic
sandstone hosting banded quartz-carbonate-sulfide veinlets occur directly beneath the weakly
altered limestone. Both sheeted and stockwork micro-veining are noted, with at least two
generations of quartz veining. Fine to medium-grained arsenopyrite, stibnite, galena and
sphalerite are present within larger quartz-pyrite veins. The unit is at least
200m
thick and is
either part of the Ordovician-age Valmy Formation or could be the Silurian-age Elder Sandstone
Formation, which is one of the gold hosts at the nearby Marigold Mine. Sulfide content ranges
from less than 1% to 10% and gold tends to vary directly with the sulfide percentage. The
mineralization is characterized by a strong Au-Ag-As-Bi-Te-Sb-Pb-Zn assemblage, with arsenic
values typically in the 1000-3000ppm range. The unit is in fault contact with the underlying
Valmy Formation carbonaceous phylliltic shale and quartzite, and as the shear contact is
approached carbon micro-veining in the silicified sandstone increases rapidly. Gold values fall
off rapidly at this lower contact.
Carbonaceous phyllite, argillite, and quartzite most likely belonging to the Valmy Formation
underlie the gold zone at Celestine O'Neal. The sheared contact is marked by carbonaceous
gouge, silicified breccia, and quartz veining. This altered contact zone is at least
10m
thick and
strikes NNW (16
o
Az), dipping 33
o
west. Gold values decrease rapidly at the contact, and the
carbonaceous phyllite is only weakly anomalous.
2022 Drilling
The Company anticipates announcing a Phase II drill program for Lewis in the weeks ahead. The
objectives for the upcoming exploration season will be to, first, focus on drill-testing the Record
target zone. If the mineralization at Record can be linked to the mineralization seen in LS21-008, the
tonnage potential at Lewis will be substantially increased. Second, the Company will adequately drill
through the overburden to reach bedrock at Celestine O'Neal in order to define the geometry of the
mineralized zone and firmly establish the associated mineralization vectors. A southward projection
of the mineralization at Celestine O'Neal is present and the Company will work to determine how
wide the zone is and how far to the south and southwest it extends. Third, with a limited number of
holes drilled in 2021 through the mineralized zone, the bottom of the gold zone appears to be low
angle (see Figure 3), therefore, the 2022 drilling program will track the mineralization laterally to the
west, east, and south of Celestine O'Neal and Record. Again, this is moving into covered terrain that
has not been previously drilled. Fourth, in order to better guarantee reaching target depth,
Nevada
King's
drill operator will be prepared this season with a casing system that can successfully
penetrate the rubblized limestone overburden to allow for accurate sampling of the underlying
mineralized horizon. The mineralized rock drills well but the problem is reaching it.
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 through to the present day 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.sedar.com
).
Tabulation of NI 43-101 Mineral Resources at the Atlanta Mine
Resource Category
Tonnes
(000's)
Au
Grade
(ppm)
Contained
Au Oz
(000's)
Ag
Grade
(ppm)
Contained
Ag Oz
(000's)
Measured
4,130
1.51
200
14.0
1,860
Indicated
6,910
1.17
260
10.6
2,360
Measured+Indicated
11,000
1.30
460
11.9
4,220
Inferred
5,310
0.83
142
7.3
1,240
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 given the global COVID-19 pandemic, 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.
SOURCE
Nevada King Gold Corp.
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%SEDAR: 00015775E
For further information:
Collin Kettell at [email protected] or (301) 744-8744.
CO: Nevada King Gold Corp.
CNW 07:30e 28-APR-22