Nevada KING Receives Approval from Bureau of Land
NEVADA KING RECEIVES APPROVAL FROM BUREAU OF LAND
MANAGEMENT FOR 47 ADDITIONAL DRILL PADS AND NEW ROAD
CONSTRUCTION AS PART OF ITS PHASE III DRILL PROGRAM AT
ATLANTA
VANCOUVER, BC
,
Feb. 6, 2025
/CNW/ -
Nevada King Gold Corp.
(TSXV: NKG) (OTCQB: NKGFF) ("
Nevada King
" or the "
Company
") is pleased to announce
it has received a Finding of No Significant Impact, or "FONSI", from the Bureau of Land Management (BLM) as well as approval from the
State of Nevada
for a
minor modification to its existing 45km
2
Plan of Operations at the 100%-owned Atlanta Gold Mine Project along the prolific Battle Mountain Trend 264km
northeast of
Las Vegas, Nevada
. This is the second modification successfully permitted by the Company and follows receipt of the first plan modification that was
issued by the BLM in
October 2024
.
Highlights:
Today's announced approval of the Company's existing Plan of Operations from the BLM allows for 47 additional drill sites and 1.9km of new drill road
construction throughout the
Atlanta
District (Figure 1).
The road construction contractor arrived at the project on
January 29
and
650m
of new roads along the South Quartzite Ridge Target ("
SQRT
") have been
completed as of
February 3
(Figure 2). When completed, these new roads and pads will allow for drill-testing
600m
of strike length within the SQRT's central
portion, where CSAMT data suggest gold mineralization is potentially present
150m
deep within a low resistivity horizon overlain by a highly resistive, barren
quartzite cap.
Since inception of the Phase III drill program on
October 16, 2024
,
Nevada King
has completed
11,870m
(covering 49 holes) of a total planned
20,000m
of
reverse circulation ("
RC
") drilling, with assays pending receipt and release. Two drill rigs are currently conducting operations at the site.
Current drilling largely involves following up on technical insights gained from the Phase II drilling in an effort to expand mineralization along the SQRT
southward from the resource zone and at the same time find new satellite deposits elsewhere within the
Atlanta
District. The Company is relying on CSAMT
anomalies, surface sample anomalies, and several weakly mineralized historical drill holes to identify and test prospective target areas, most of which occur
along a semi-circular ring fault zone bounding the eastern, southern, and western margins of the 7 km-wide Atlanta Caldera.
Cal Herron
, Exploration Manager of
Nevada King
, stated: "We are very pleased to see such quick action by the BLM and
State of Nevada
in finalizing their
approvals for this important modification. This new modification adds more holes and new road access in the southern half of the SQRT, while more holes and
cross-country travel routes have been added to the Silver Park region. This now allows us to offset existing holes at closer spacings plus follow structural trends
seen in the CSAMT data."
Figure 1. Red markers indicate permitted drill pad locations while red lines show permitted road cuts included within the Plan of Operations Modification approved
by the BLM in January 2025. (CNW Group/Nevada King Gold Corp.)
Figure 2. Construction currently underway on new drill roads along the South Quartzite Ridge 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.
Nevada King
is focused on advancing and growing its 100% owned, past producing, 120km
2
Atlanta Gold Mine project located along the
Battle Mountain
trend in
southeast Nevada. The project hosts an NI 43-101 compliant pit-constrained oxide 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) based on historical drilling, and does not include any of the 100,000m+ of
drilling completed by
Nevada King
. 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 to 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.
View original content to download multimedia:
https://www.prnewswire.com/news-releases/nevada-king-receives-approval-from-bureau-of-land-management-for-47-additional-drill-pads-and-new-road-construction-as-part-of-its-phase-iii-drill-program-at-atlanta-302369896.html
SOURCE
Nevada King Gold Corp.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/February2025/06/c1851.html
%SEDAR: 00015775E
For further information:
For further information, contact Collin Kettell at [email protected] or (845) 535-1486.
CO: Nevada King Gold Corp.
CNW 06:30e 06-FEB-25