Nevada King Gold Corp. (TSX-V: NKG) (OTCQX: NKGFF) is pleased to announce assay results from four vertical, reverse circulation holes recently completed at its Atlanta Gold Mine Project located 264km northeast of Las Vegas, Nevada, in the prolific Battle Mountain Trend. Today’s holes are plotted in plan and along an updated Section 22-7N(2), initially released February 27, 2023.
Highlights:
Hole No. | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) |
AT22HG-6 | 189.0 | 256.1 | 67.1 | 1.34 | 6.4 |
AT23HG-24 | 247.0 | 324.7 | 77.7 | 1.14 | 4.0 |
AT23HG-23 | 227.1 | 317.1 | 89.9 | 0.57 | 11.5 |
AT23NS-125* | 74.7 | 109.8 | 35.1 | 1.26 | 31.9 |
Table 1: Holes released today. *Denotes angle hole. Mineralization occurs along near-horizontal horizons with true mineralized thicknesses in vertical holes estimated to be 90% to 100% of reported drill intercept length, and approximately 94% in -68o angle hole AT23NS-125. |
Cal Herron, Exploration Manager of Nevada King, stated, “The Company’s closer spaced, deeper holes and attention to high-angle, higher-grade feeder structures is paying off. There are five historical holes drilled in the WAGZ along Section 22-7N(2) that encountered mineralization and average 0.96 g/t AuEq over 87.1m thickness. The same section length now includes seven Nevada King holes with an average grade of 2.07 g/t AuEq over 76.1m thickness, representing a 116% increase in grade. The WAGZ is an important target where thick mineralization can rapidly add ounces to the resource and we look forward to the receipt of additional results.”
Hole No. | From (m) |
To
(m) |
Interval
(m) |
Au
(g/t) |
Ag
(g/t) |
Notes |
AT23HG-30 | 169.2 | 269.8 | 100.6 | 3.39 | 9.6 | |
Includes | 227.1 | 240.9 | 13.7 | 12.67 | 38.2 | |
And | 294.2 | 373.5 | 79.3 | 0.27 | 0.4 | |
AT23HG-28 | 150.9 | 224.1 | 73.2 | 2.67 | 13.6 | |
Includes | 204.3 | 216.5 | 12.2 | 7.59 | 45.9 | |
AT23HG-22 | 181.4 | 323.2 | 141.8 | 0.55 | 4.0 | |
AT22RC-11 | 0.0 | 33.5 | 33.5 | 1.28 | 0.5 | |
AT22HG-5 | 186.0 | 279.0 | 93.0 | 1.14 | 2.1 | Bottomed in Mineralization |
AT22HG-3T | 170.4 | 231.4 | 61.0 | 1.31 | 0.158 | |
And | 252.7 | 285.4 | 32.6 | 3.83 | 48.7 | Bottomed in Mineralization |
Includes | 261.0 | 266.0 | 5.0 | 10.94 | 33.2 | |
combined average | 93.6 | 2.18 | 17.1 | Bottomed in Mineralization | ||
AT22HG-4 | 175.3 | 192.1 | 16.8 | 0.58 | 0.5 | |
And | 216.5 | 240.9 | 24.4 | 2.84 | 38.0 | |
combined average | 41.2 | 1.92 | 22.7 | |||
AT22NS-54 | 170.7 | 216.5 | 45.7 | 4.21 | 79.6 | |
Includes | 173.8 | 199.7 | 25.9 | 5.40 | 113.8 | |
AT22NS-56A | 93.0 | 106.7 | 13.7 | 1.88 | 38.5 | |
AT22NS-76 | 70.1 | 100.6 | 30.5 | 2.39 | 41.5 | |
AT22NS-73 | 22.9 | 103.7 | 80.8 | 2.31 | 47.4 | |
AT21-68C | 99.1 | 120.3 | 21.2 | 3.28 | 34.4 | |
Table 2: Previously reported holes used along updated Section 22-7N(2). AT22 series holes were drilled by Nevada King in 2022 and the AT21 series holes were drilled in 2021. True thickness of gold mineralization interpreted in today’s release is 90% to 100% of the reported intercept length in vertical holes. |
Hole No. | From (m) |
To
(m) |
Interval
(m) |
Au
(g/t) |
Ag
(g/t) |
Notes |
AR-19 | 228.6 | 304.8 | 76.2 | 0.82 | 3.52 | |
DHRI-11-6C | 227.1 | 295.1 | 68 | 1.11 | 15.72 | Bottomed in Mineralization |
KR98-11* | 239.3 | 343.0 | 103.7 | 0.81 | 3.0 | Bottomed in Mineralization |
AR-21 | 240.8 | 304.8 | 64 | 0.39 | 4.21 | Bottomed in Mineralization |
KR97-08* | 172.2 | 195.1 | 22.9 | 0.72 | 0.72 | |
DHRI-11-4C | 178.3 | 301.8 | 123.5 | 1.1 | 9.0 | |
KR97-11* | 173.8 | 205.8 | 32 | 2.00 | 9.75 | |
AC-1 | 118.6 | 163.6 | 45 | 5.24 | 40.7 | |
88-13 | 121.9 | 170.7 | 48.8 | 3.95 | 46.9 | |
DHRI-11-1C* | 74.7 | 97.5 | 22.8 | 1.9 | 19.72 | |
GC96-7* | 152.4 | 108.2 | 44.2 | 0.87 | 23.18 | |
Table 3: Historical holes used in updated Section 22-7N(2). DHRI series holes were drilled by Meadow Bay in 2011. KR98 series holes were drilled by Kinross in 1998. AR and AC series holes were drilled by Goldfields in 1991. GC series hole drilled by Golden Chief in 1996, and 88 series hole drilled by Bobcat in 1988. True thickness of gold mineralization interpreted in today’s release is 90% to 100% of the reported intercept length in vertical holes. *Denotes angle hole. |
Operator | West Atlanta Graben | Atlanta Mine Fault Zone | ||||
No. of Holes |
Average Au eq. (g/t) |
Average Thickness (m) |
No. of Holes |
Average Au eq. (g/t) |
Average Thickness (m) |
|
NKG | 8 | 2.07 | 76.1 | 7 | 2.56 | 41.1 |
Historical | 5 | 0.96 | 87.1 | 6 | 3.07 | 36.0 |
Table 4. Comparison of Nevada King and historical drill results along section line 22-7N(2), using weighted averages. Gold equivalents calculated using Au/Ag prices of $1,919/oz and $22.91/oz, respectively, (Sep 8, 2023 $US spot prices). |
QA/QC Protocols
All Reverse Circulation 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 weighed 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. Silver samples that run greater than 100ppm are also 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.
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).
Table 5: NI 43-101 Mineral Resources at the Atlanta Mine
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 |
Figure 1. Location map for holes reported in this news release along updated drill section22-7N(2) relative to the perimeter of the historical Atlanta Pit and footprint of the Gustavson 2020 NI 43-101 resource. Shallow drillholes on the mine dumps have been removed from the plot for clarity. (CNW Group/Nevada King Gold Corp.)
Figure 2. Updated cross section 22-7N(2) looking north across WAF that divides AMFZ target on east from WAGZ target on west. Along the AMFZ Au/Ag mineralization is largely hosted within silica breccia horizon developed on top the Paleozoic dolomite and quartzite units, whereas mineralization within WAGZ is largely hosted within volcanic tuff and sediments above Paleozoic basement. The WAGZ is bounded on west by the WAF2 Fault, but mineralization remains open to the west in sections further north (CNW Group/Nevada King Gold Corp.)
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