Nevada KING Provides Update ON Drilling at Its 100% Owned Lewis GOLD Project, Battle Mountain Trend, Nevada
NEVADA KING PROVIDES UPDATE ON
DRILLING AT ITS 100% OWNED LEWIS GOLD
PROJECT, BATTLE MOUNTAIN TREND,
NEVADA
VANCOUVER, BC
,
Sept. 27, 2022
/CNW/ -
Nevada King Gold Corp.
(TSXV: NKG) (OTCQX:
NKGFF) ("
Nevada King
" or the "
Company
") is pleased to announce an update on its 2022 4,500
metre Phase II drilling program at its 5,500 hectare, 100% owned Lewis Gold Project ("
Lewis
Project
" or "
Project
") located approximately 21km south of
Battle Mountain, Nevada
, within the
heart of the Battle Mountain Gold Trend.
Highlights:
Drilling at Lewis
commenced on
August 25, 2022
, and to date
Nevada King
has completed
seven reverse circulation ("
RC
") holes totaling
1,300m
(see Figure 1). These initial holes were
drilled at the Record Target, a high priority target that was not drilled during the 2021 Phase I
program.
Four batches of drill samples have been delivered to the ALS Global laboratory in
Elko, Nevada
,
with initial assays expected in the coming weeks.
RC drilling is currently underway between the Upper Plate hosted Record and Celestine O'Neal
targets, testing for the potential continuity of nearer surface gold mineralization linking these two
zones.
This Phase II drill definition of Upper Plate hosted gold mineralization will also be utilized to
project the mineralizing system to depth with the objective of defining a deeper, Lower Plate
hosted target. This method of vectoring from the Upper Plate into the Lower Plate has been key
to the discovery of several sizeable, higher grade Lower Plate hosted discoveries on the
Battle
Mountain
trend.
Exploration Manager
Cal Herron
, P.Geo., stated: "
Nevada King's
2022 Phase II program picks up
where Phase I left off in late 2021. With drilling now being expanded to a much larger area,
Nevada
King
will be able to assess the shallow, Upper Plate-hosted gold potential in between the Celestine
O'Neal, Record, and Upper Rocky Canyon target zones. If successful these targets would be
combined into a single target covering approximately 1.5km x 1.0km on surface. Looking further
down the road, this season's drilling will undoubtedly play an important role in defining prospective
areas potentially hosting deep mineralization in Lower Plate carbonates as seen at Barrick's nearby
Pipeline and Cortez mines."
Figure 1. Location of Nevada King’s 2022 completed and planned drill holes as well as Nevada
King’s 2021 drill holes relative to historical drill holes at Lewis. (CNW Group/Nevada King Gold
Corp.)
Figure 2. Location of Lewis Project within Battle Mountain Trend. (CNW Group/Nevada King Gold
Corp.)
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 Company is well funded with cash of approximately
C$19.2 million
as of September 2022.
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
).
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, 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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For further information:
Collin Kettell at [email protected] or (301) 744-8744.
CO: Nevada King Gold Corp.
CNW 07:30e 27-SEP-22