Nevada KING Passes 76,000M IN Its Phase Ii Drill Program, Results FOR 137 Holes Pending at Atlanta
NEVADA KING PASSES 76,000M IN ITS PHASE II DRILL PROGRAM,
RESULTS FOR 137 HOLES PENDING AT ATLANTA
VANCOUVER, BC
,
Feb. 1, 2024
/CNW/ -
Nevada King Gold Corp.
(TSXV: NKG) (OTCQX: NKGFF) ("
Nevada King
" or the "
Company
") is pleased to
provide an update on its Phase II resource expansion and definition drilling program at its 5,166 hectare (51.6km
2
), 100%-owned Atlanta Gold Mine Project,
located in the prolific Battle Mountain Trend 264km northeast of
Las Vegas, Nevada
.
Highlights:
Since inception of the Phase II Atlanta drill program in
June 2022
Nevada King
has completed
391 holes totaling
76,249m
, which includes 371 reverse-
circulation ("
RC
") holes totaling
72,743m
and 20 core holes totaling
3,506m
. Prior to initiating the Phase II program the Company completed 68 holes
totaling
5,544m
in it's maiden Phase I program.
To date, as part of its Phase II program,
Nevada King
has reported assays from 254 holes covering
46,201m
with
results from 137 drill holes totaling
30,048m
currently pending.
Three RC rigs continue to operate at
Atlanta
. The core rig that began operating in
October 2023
successfully completed six holes (
1,258m
) needed for
ongoing metallurgical testwork plus confirmation of RC drill results.
A major objective of current drilling involves following up on elevated high-grade (>20 g/t Au) intercepts scattered throughout the deposit in order to further
define the spatial distribution of this exceptionally high-grade mineralization for potential inclusion as discreet domains within a future resource model.
Drilling is also ongoing in the North Extension Target to follow up on the high-grade oxide results
released
January 17, 2024
from an area
600m
north of
the
Atlanta
pit and well outside of the footprint of the existing resource, as well as at the southern end of the
Atlanta
resource zone following the blind
discovery of thick, high-grade gold mineralization including 1.89 g/t Au over
114.3m
and 2.15 g/t Au over
96.0m
released on
October 17, 2023
.
Cal Herron
, Exploration Manager of
Nevada King
, commented, "It has been a very busy winter so far with very few weather-related work stoppages, in part
due to infrastructure improvements made in 2023. The core drill just completed its last metallurgical hole and has moved off-site, while three RC drills are still
turning, two of them on a 24-hour schedule. Normally at this point in an exploration program's life, extensive drilling has resulted in a fairly complete and
accurate understanding of a system's geology and potential.
Atlanta
is quite different – almost every new drill hole brings more twists and turns that keep our
geologists (and drill crews) contantly changing gears and direction. We started out in 2021 hoping to get some shallow, low-grade hits south of the pit, while
we've now graduated to hunting bonanza-grade pods along high-grade feeder structures scattered throughout the entire mineralized footprint. Looking forward
in 2024, our drills will keep turning, and we eagerly await what comes next for the project."
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 mutli-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.
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 1. 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:
contact Collin Kettell at [email protected] or (845) 535-1486.
CO: Nevada King Gold Corp.
CNW 07:30e 01-FEB-24