Nevada KING Intercepts 9.1M of 4.32 G/T Au Extending Mineralization 420 Metres WEST of Pit at Wild WEST Zone, Initiates Phase III Drill Program at Atlanta
NEVADA KING INTERCEPTS 9.1M OF 4.32 G/T AU EXTENDING
MINERALIZATION 420 METRES WEST OF PIT AT WILD WEST ZONE,
INITIATES PHASE III DRILL PROGRAM AT ATLANTA
VANCOUVER, BC
,
Oct. 21, 2024
/CNW/ -
Nevada King Gold Corp.
(TSXV: NKG) (OTC: NKGFF) ("
Nevada King
" or the "
Company
") is pleased to announce
commencement of its Phase III drill program with the mobilization of a reverse-circulation ("
RC
") drill to conduct drilling across the recently discovered Wild West
Target ("
WWT
") (
August 19, 2024
release
) at its 5,166 hectares (51.6km
2
), 100%-owned Atlanta Gold Mine Project along the prolific Battle Mountain Trend
264km northeast of
Las Vegas, Nevada
.
Wild West Zone Highlights:
Hole No.
From (m)
To (m)
Interval (m)
Au (g/t)
Ag (g/t)
AT24WS-84
*
446.6
458.8
12.2
3.48
12.6
Includes
448.2
457.3
9.1
4.32
14.2
Table 1.
Hole released today. Mineralization occurs along a sub horizontal mineralized horizon with true mineralized
thickness estimated to be 85% to 95% true thickness.
*
Denotes hole that bottomed in mineralization.
Today's AT24WS-84 (
4.32 g/t Au over
9.1m
) was sited
60m
west of previously released AT24WS-83 (
4.67 g/t Au over
42.7m
)
, and represents the
westernmost intercept of high-grade gold mineralization to date at the Wild West Zone and at the Atlanta Project. AT24WS-84 bottomed in mineralization,
encountering
10m
of mineralized rock, before the drill rig reached its maximum depth capabilities.
As seen in Table 2 below, AT24WS-83 successfully recovered in both the upper and lower high-grade zones, resulting in higher average grade and much
greater thickness, while today's AT24WS-84 penetrated the upper high-grade zone but was lost at the top of the intervening lower high-grade zone.
Hole No.
Gold Zone
From-To (m)
Length (m)
Au (g/t)
AT24WS-83
Upper
388.7-396.3
7.6
2.80
Intervening
396.3-405.5
9.1
1.62
Lower
405.5-428.4
22.9
6.98
AT24WS-84
Upper
448.2-457.3
9.1
4.32
Intervening
457.3-458.5
1.5
1.49
Lower
Not Deep Enough
Table 2. Comparison between gold intercepts in today's released hole and nearby AT24WS-83.
The Company is mobilizing a Schramm 685 drill rig, a powerful drill capable of greater depth penetration, to chase the mineralization seen in AT24WS-84
further westward and to greater depth across the WWT. As shown in Figure 1 below, 11 initial drill pads have been prepared that are designed to test the
WWT a further
500m
west of its current drilled extent.
As currently defined, the recently identified WWT area is
500m
long in a north-south direction and
200m
wide, remaining open to the west. The target is
located on the west side of the West Atlanta Fault #2 ("
WAF2
") in an area previously thought to be unmineralized, but where recent drilling has revealed thick,
high-grade mineralization extending well west of the Atlanta Resource Zone.
As mentioned above, AT24WS-84 did recover through the upper high-grade zone. Hole AT24WS-81 (
released
August 19, 2024
), drilled
100m
to the
northwest, did not reach the mineralized zone, but did encounter elevated Au-Ag-As-Mo, similar to that seen above the gold zones in nearby holes. The down-
hole tracer element gradients seen in both AT24WS-84 and AT24WS-81 strongly suggests mineralization extends further to the west.
The Company plans to mobilize a second drill rig to
Atlanta
in the coming weeks to begin a 59-hole regional pass of 12 regional drill targets, previously laid
out in its
September 17, 2024
and
October 3, 2024
releases.
Cal Herron
, Exploration Manager of
Nevada King
, stated, "The WWZ is situated along a major east-west basement lineament interpreted from gravity data that
projects approximately 3 kilometres eastward from the Silver Park, Mustang, and Outlaw Targets (Figure 2) through the centre of the Wild West Target and into
the
Atlanta
resource zone where it connects to the North Fault, which is an important structural control associated with high-grade mineralization immediately
northwest of the pit.
Nevada King
holes AT23WS-44 (
11.64 g/t Au over
108.2m
, including 37.16 g/t Au over
29.0m
released
October 2, 2023
), AT23WS-22
(
5.63 g/t Au over
42.7m
, including 28.57 g/t Au over
7.6m
released
April 27, 2023
) and AT24WS-83 (
4.67 g/t Au over
42.7m
released
August 19, 2024
) all
occur along this trend.
"A second, NW-trending deep gravity-inferred structure cuts through the centre of the WWZ where it intersects the E-W gravity trend and then continues down the
axial plane of the South Quartzite Ridge Target to the southeast. Generally speaking, structural intersections commonly provide favourable loci for metals
concentration, so the conjunction of major structures we see in the WWT is a good sign, particularly since it coincides with a strong CSAMT low resistivity zone
interpreted as a shallow intrusive body. Hydrothermal fluids associated with shallow, low-resistivity intrusions are closely associated with gold mineralization
throughout the current resource area, along the East Ridge Target (
released
July 16, 2024
), and at the northern end of the South Quartzite Ridge Target (
released
July 23, 2024
). As we continue to move westward with deeper holes into previously untested territory, we look forward to seeing what Mother Nature
has in store for us."
Figure 1. Area of Wild West Target in relation to major basement faults largely inferred from geophysical data. High grade mineralization exceeding 3 g/t Au
commonly occurs along faults and at structural intersections. Apical zones of CSAMT low-resistivity anomalies are interpreted to be shallow intrusive bodies. The
apical zone shown west of the West Atlanta Fault #1 corresponds to shallow felsic intrusions controlling Au mineralization within the Atlanta Resource Zone. (CNW
Group/Nevada King Gold Corp.)
Figure 2. Location of Wild West Target (orange outline) in relation to the Company’s land position, major basement structures largely inferred from geophysical
data, and exploration targets. The historical Atlanta pit and current resource zone are located immediately east of the Wild West Target. (CNW Group/Nevada
King Gold Corp.)
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.
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:
For further information, contact Collin Kettell at [email protected] or (845) 535-1486.
CO: Nevada King Gold Corp.
CNW 07:30e 21-OCT-24