The Prospector News

NEVADA KING INTERCEPTS 1.58 G/T AU OVER 114.3M, INCLUDING 3.61 G/T OVER 24.4M, EXTENDS HIGH-GRADE MINERALIZATION FURTHER WESTWARD AT ATLANTA

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

NEVADA KING INTERCEPTS 1.58 G/T AU OVER 114.3M, INCLUDING 3.61 G/T OVER 24.4M, EXTENDS HIGH-GRADE MINERALIZATION FURTHER WESTWARD AT ATLANTA

 

 

 

 

 

Nevada King Gold Corp. (TSX-V: NKG) (OTCQX: NKGFF) is pleased to announce assay results from two 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. The two holes reported today are plotted below in plan and along an updated Section 22-6N(3), initially released on January 6, 2023, updated on March 20, 2023 and again on July 20, 2023 (Figures 2-3).

 

Highlights:

 

Hole No. From (m) To (m) Interval (m) Au (g/t) Ag (g/t)
AT23WS-35 201.2 315.5 114.3 1.58 3.7
Includes 263.7 288.1 24.4 3.61 6.1
AT23WS-39 224.1 315.5 91.5 0.96 3.9

 

Table 1: Holes released today. Mineralization occurs along near-horizontal horizons with true mineralized thicknesses in vertical holes estimated to be 95% to 100% of reported drill intercept length.
  • Today’s intervals are the westernmost holes drilled by Nevada King at Atlanta to date and have successfully identified high-grade gold mineralization in the western extents of the West Atlanta Graben (“WAG“) close to the West Atlanta Fault #2.
  • 1.58 g/t Au over 114.3m including 3.61 g/t Au over 24.4m in AT23WS-39 is appreciably higher-grade than surrounding holes, injecting high-grade into the surrounding thick blanket of gold mineralization. This is similar to previously released 3.39 g/t Au over 100.6m in AT23HG-30 (July 20, 2023), located 125m to the east of AT23WS-39 and also plotted on Section 22-6N(3).
  • Together these holes illustrate the effectiveness of Nevada King’s drill targeting based on its new geological model, which outlines a series of high-angle faults that divide the mineralized zone into fault-bounded blocks or domains, in turn creating numerous fluid pathways each capable of localizing high-grade gold mineralization throughout the Atlanta deposit. This is a significant departure from the historical Atlanta model, which envisioned a single 45 degree vein structure (see Figure 1 below) with no fault offsets or high-grade feeders other than the 45 degree vein zone itself.

 

Cal Herron, Exploration Manager of Nevada King, stated, “These new results continue to expand WAG mineralization westward with increasing gold grades and thicknesses. Referring to Figure 3, there are seven historical Kinross holes drilled in the WAG along Section 22-6N(3) that average 0.89 g/t Au with an average intercept thickness of 65m. The same section length now includes ten holes drilled by Nevada King with an average grade of 1.39 g/t Au and an average intercept thickness of 121m, representing a 56% increase in grade and an 86% increase in thickness. High-grade intercepts like 114.3m @ 1.58 g/t Au in AT23WS-39 and 100.6m @ 3.39 g/t Au in AT23HG-30 are important as they strongly influence this ten-hole average. We believe that intercepting these higher-grade zones or feeders concentrated along the high-angle faults is the key to realizing the full potential of the Atlanta deposit and this same pattern is playing out along other section lines to the north and south as they are progressively filled-in with new holes. Table 4 below summarizes averaged drill hole intercepts for the Company’s holes and for historical holes that were included in the Gustavson 2020 resource model along Section22-6N(3). This provides an interesting comparison of Au-Ag grades and thicknesses within the WAG.”

 

Hole No. From (m) To (m) Interval (m) Au (g/t) Ag (g/t)
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
AT22SE-4 146.3 327.7 181.4 1.03 3.8
AT22SE-42 122.0 201.2 79.3 1.50 1.4
And 234.8 318.6 83.8 0.48 3.6
Aggregate 122.0 318.6 163.1 0.98 2.5
AT22NS-69 89.9 135.7 45.7 1.57 8.5
AT22NS-68 134.1 163.1 29.0 4.03 21.2
Including 157.0 160.1 3.1 10.03 18.5
AT22HG-16 163.1 170.7 7.6 2.98 7.5
And* 196.6 292.7 96.0 1.38 3.1
AT22HG-17* 146.3 311.0 165.5 0.92 3.0
AT22HG-19* 155.5 233.2 77.7 1.92 28.1
Including 207.3 224.1 16.8 4.76 86.8
AT21-41B* 38.1 73.2 35.0 1.17 11.3
AT21-50A^ 141.8 178.3 36.5 1.00 17.91
AT22RC-11 0 33.5 33.5 1.28 0.5
AT22RC-12^ 0 57.9 57.9 1.38 14.0

 

 

 

Table 2: Previously reported holes drilled by Nevada King along Section 22-6N(3). True thickness of gold mineralization is estimated to be 95% to 100% of the reported intercept length in vertical holes. *Denotes hole that bottomed in mineralization. ^Denotes angle hole.

 

Hole No. From (m) To (m) Interval (m) Au (g/t) Ag (g/t)
KR98-2^ 265.2 304.9 39.7 0.96 6.82
KR98-7^* 204.3 257.6 53.4 1.36 3.85
KR98-9^ 170.9 190.5 19.8 0.20 0.1
KR98-10^ 242.3 330.8 88.5 0.77 1.8
KR98-11^* 244 343 99 0.81 3.02
KR98-13^*
AR-27* 161.6 260.7 99.1 0.73 1.84
AC-4^ 167.7 224.1 56.4 1.25 7.31

 

 

 

Table 3: Historical holes used in updated Section 22-6N. KR98 series holes were drilled by Kinross in 1998. AR and AC series holes were drilled by Goldfields in 1991. ^Denotes angle holes. *Denotes holes that bottomed in mineralization.

 

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 10 1.47 121 6 1.79 39.7
Historical 7 0.933 65 None

 

 

Table 4. Comparison of Nevada King and historical drill results along section line 22-6N(3), using weighted averages. Gold equivalents calculated using Au/Ag prices of $1,943/oz and $24.77/oz, respectively (Aug 30, 2023 US$ spot prices).

 

 

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).

 

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. Nevada King’s new geological model (right side) against the old model (left side) (CNW Group/Nevada King Gold Corp.)

 

 


Figure 2. Location map for holes reported in this news release along updated drill section22-6N(3) 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 3. Updated cross section 22-6N(3) looking north across West Atlanta Fault that divides AMFZ target on east from WAG target on west. Along AMFZ Au/Ag mineralization is largely hosted within silica breccia horizon developed on top of Paleozoic dolomite and quartzite units, whereas mineralization within WAG is largely hosted within volcanic tuff and sediments above Paleozoic basement. The WAG is bounded on west by WAF2 but mineralization remains open to the west in sections further north. (CNW Group/Nevada King Gold Corp.)

 

 

 

 

Posted September 6, 2023

Share this news article

MORE or "UNCATEGORIZED"


Millennial Announces Closing Private Placement for Total Proceeds of $9,188,880

Millennial Potash Corp. (TSX-V: MLP) (OTCQB: MLPNF) (FSE: X0D) is... READ MORE

July 31, 2025

Laramide Resources Announces Closing of Upsized $12,000,000 Private Placement

Laramide Resources Ltd. (TSX: LAM) (ASX: LAM) (OTCQX: LMRXF)  a ... READ MORE

July 31, 2025

SPC Nickel Closes $3.5 Million Rights Offering Backstopped by Dundee Corporation

SPC Nickel Corp. (TSX-V: SPC) and Dundee Corporation (TSX: DC.A) are pl... READ MORE

July 31, 2025

St. Augustine Announces Positive Results of the Kingking Copper-Gold Project Updated Preliminary Feasibility Study

NPV7% of $4.18 Billion After-tax IRR of 34.2% at $4.30/lb Copper ... READ MORE

July 31, 2025

Independence Gold Intersects 52.46 Metres Grading 2.51 g/t Gold and 19.73 g/t Silver in the Johnny Vein at the 3Ts Project, BC Independence Gold Corp. (TSX-V: IGO) is pleased to report assay results from three additional diamond drill holes completed at the Johnny Vein System at the 3Ts Project located in central British Columbia. These results further confirm the continuity and high-grade nature of the Johnny Vein System and expands the known footprint of mineralization. Located approximately 185 kilometres southwest of Prince George, British Columbia, the 3Ts Project comprises thirty-one mineral claims covering approximately 35,486 hectares in the Nechako Plateau region. The project lies 16 km southwest of Artemis Gold Inc.'s Blackwater Mine and hosts a low-sulphidation epithermal quartz-carbonate vein district within which at least nineteen known mineralized veins, ranging from 50 to over 1,100 metres in strike length and true widths of up to 32 m have been identified. Highlights from diamond drilling include: • Hole 3TS-25-31 intersected a broad zone of mineralization grading 2.51 g/t gold and 19.73 g/t silver over 52.46 metres (true width approximately 32m), including: o 2.32m grading 9.83 g/t gold and 28.02 g/t silver o 2.90m grading 7.16 g/t gold and 63.10 g/t silver o 1.14m grading 18.46 g/t gold and 33.33 g/t silver • Hole 3TS-25-29 returned 7.94 metres grading 2.65 g/t gold and 10.71 g/t silver (true width approximately 7.46m), including 1.94 metres of 7.53 g/t gold and 32.47 g/t silver. • Hole 3TS-25-30 returned 5.90 metres of 1.86 g/t gold and 17.29 g/t silver (true width approximately 5.54m), including 0.72 metres of 4.00 g/t gold and 26.39 g/t silver. "These results further validate the Johnny Vein System as a high-grade, laterally extensive target with strong potential for resource expansion," stated Randy Turner, President & CEO of Independence Gold. "We are particularly excited by the width and grade intersected in hole 3TS-25-31, which demonstrates consistent mineralization over more than 30 metres of true width and includes multiple zones of exceptional gold and silver values." The Johnny Vein System is one of several epithermal quartz-carbonate veins being explored at the 3Ts Project and appears to be comprised of several intertwining veins with mineralized breccias that produce wide zones of mineralization. The primary vein set is interpreted to have a true thickness of approximately 32 metres; however, including adjacent mineralized breccias and minor veins, the total mineralized width may extend up to 47.5 metres true width. The Johnny Vein indicates similarities in grade and continuity to the established Ted-Mint and Tommy Vein Systems, which form the foundation of the current 3Ts resource model (please see news release dated August 18th, 2022 for further details; "Technical Report on the Mineral Resource Estimate Update for the 3Ts Gold Project, Omineca Mining Division, British Columbia, Canada", authored by Armitage and Miller). The combined in-pit and underground components of Tommy and Ted-Mint vein systems contain a total inferred resource estimate of 4,469,297 tonnes grading 3.64 grams per tonne gold and 96.26 g/t silver, at a cut off grade of 0.4 g/t gold equivalent ("AuEq") in-pit and 2.0 g/t AuEq underground, containing 522,330 ounces of gold and 13,831,415 ounces of silver, totaling 678,156 AuEq ounces. Drill results from the Johnny Vein System will be incorporated in the updated NI 43-101 mineral resource anticipated to be completed in the third quarter of 2025. Drill Hole From (m) To (m) Interval (m) Gold (g/t) Silver (g/t) 3TS-25-29 4.00 6.00 2.00 1.15 9.50 and 10.00 11.80 1.80 0.61 3.89 and 20.92 21.66 0.74 2.85 9.46 and 25.66 27.53 1.87 4.09 20.32 and 33.00 38.00 5.00 1.22 2.40 and 44.06 52.00 7.94 2.65 10.71 including 44.06 46.00 1.94 7.53 32.47 3TS-25-29 63.17 63.68 0.51 1.10 13.73 and 66.00 66.70 0.70 1.71 28.57 and 71.00 74.00 3.00 0.75 15.33 and 80.68 86.58 5.90 1.86 17.29 and 88.00 91.00 3.00 0.80 2.00 and 102.70 104.88 2.18 2.03 4.13 3TS-25-31 65.05 66.50 1.45 4.68 5.52 and 67.69 68.10 0.41 6.24 4.88 and 73.54 126.00 52.46 2.51 19.73 including 79.18 81.50 2.32 9.83 28.02 and including 87.10 90.00 2.90 7.16 63.10 and including 109.36 110.50 1.14 18.46 33.33 and 155.00 156.54 1.54 1.82 5.84 Table 1: Significant Intercepts from the Johnny Vein *The true widths of the veins are average 80-95% of the reported interval width QA/QC Protocols Samples consist of saw-cut (NQ) drill core with one-half retained for reference and one-half submitted for analysis. Samples were submitted in sealed plastic bags delivered to Bandstra Transportation for shipping to SGS Natural Resources Canada (SGS) labs in Burnaby, British Columbia, for sample preparation and analysis. Robotic sample preparation is used to ensure reproducibility and samples are pulverized to greater than 85% passing 75 microns. All samples are submitted for four acid digest with an ICP finish. Gold grades are obtained by fire assay with AAS finish. Samples which return greater than 10 parts per million gold and 100 parts per million silver are resubmitted for fire assay with a gravimetric finish. Sample batches consist of core samples, control standards, blanks and duplicates. Blanks and control standards (QAQC) are inserted into each batch of samples, with one QAQC per 20 samples. QAQC samples that return values 10% outside of the expected range require samples from that internal batch to be rerun by the lab. SGS laboratories operate under a Quality Management System that complies with ISO/IEC 17025. SGS's minerals laboratory in Burnaby is accredited by the Standards Council of Canada (SCC) for specific mineral tests listed on the scope of accreditation to the ISO/IEC 17025 standard. Please see SGS Analytical Methods for further details regarding analytical procedures. About Independence Independence Gold Corp. is a well-financed mineral exploration company with holdings ranging from early-stage grassroots exploration to advanced-stage resource expansion in British Columbia and Yukon. The Company is positioned to add shareholder value through systematic project advancement, while management continues to evaluate additional gold and silver projects for possible acquisition. For additional information, visit the Company's website www.ingold.ca. Andy Randell, P.Geo., the Company's Qualified Person as defined by National Instrument 43-101 and who is an independent consultant for the Company, has reviewed the technical information in this news release. Drill Hole Information from this release Drill Hole Easting Northing Elevation Azimuth* Dip Total Meterage 3TS-25-29 363045 5876905 1218 170 70 144 3TS-25-30 363067 5876940 1216 270 70 106 3TS-25-31 363067 5876940 1216 220 65 158 * All drill hole locations are in NAD83, Zone 10 Datum **Based on true north. For magnetic declination add 17.5 degrees

Independence Gold Corp. (TSX-V: IGO) is pleased to report assay r... READ MORE

July 31, 2025

Copyright 2025 The Prospector News