Nevada King Gold Corp. (TSX-V: NKG) (OTCQX: NKGFF) is pleased to announce assay results from one angle reverse circulation hole recently completed at its Atlanta Gold Mine Project located 264km northeast of Las Vegas, Nevada, in the prolific Battle Mountain Trend. Shown in Figures 1 and 2, today’s hole was drilled immediately south of the West Atlanta Graben Zone 200m south of the Atlanta Pit and represents the southernmost hole drilled to date into the axial portion of a large, northerly trending anticline designated the South Quartzite Ridge Target.
Highlights:
Hole No. | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) |
AT24HG-41^ | 147.8 | 216.4 | 68.6 | 5.14 | 16.0 |
Includes | 152.4 | 207.3 | 54.9 | 6.28 | 17.9 |
Table 1. Hole reported today. Mineralization occurs within an irregularly shaped intrusive body with true mineralized thicknesses estimated to be 85% to 95% of the reported drill intercept length.
Cal Herron, Exploration Manager of Nevada King, stated, “I cannot over-emphasize the significance of AT24HG-41 – in my opinion, it is the most important hole Nevada King has drilled to date at Atlanta. Higher-grade intervals have been hit including previously released AT23WS-44 (11.64 g/t Au over 108.2m), but this and other holes conform to our previous interpretation of high-grade gold mineralization focusing in intensely silicified intersections of faults. In contrast, the 54.9m @ 6.28 g/t Au in AT24HG-41 occurs within variably silicified-argillized aphyric rhyolite and fine-grained porphyritic rhyolite tuff dike breccias possessing very sparse quartz veinlets. These rocks are pervasively altered and the gold appears to be disseminated within the groundmass and/or concentrated in loose oxides or fractures. There is no evidence of significant quartz veining or strong faulting seen in the cuttings. We believe that gold mineralization was coeval (having the same age) with the felsic intrusions and became trapped beneath the massive quartzite cap along the South Quartzite Ridge anticlinal axis. These felsic gold hosts are easily tracked southward from AT24HG-41 by the consecutive sequence of low resistivity anomalies shown along CSAMT lines 2, 5, and 10 (Figure 5) underneath the strongly resistive quartzite cap. Gold enrichment is most likely to occur within the axial plane region of the anticline, which would move our actual drill targets in closer to the centre of the anticline, meaning we need to drill along the crest of the Quartzite Ridge or from positions near the crest.
“Gold enrichment in AT24HG-41 rapidly drops below 213m depth at the contact with underlying fine grained porphyritic rhyodacite and dacite that compose a large altered dike (or small, elongate stock) bounding the SQRT’s western margin. These dacitic intrusions are exposed at the surface all along the western side of the SQRT, while the rhyolitic rocks associated with gold mineralization crop out along the axis of the South Quartzite Ridge Anticline. Surface rock sampling shows the dacitic rocks to be largely barren of Au, whereas the aphyric rhyolite dikes extending north and south from historical tunnels just west of the anticlinal axis are associated with mineralization. Between the CSAMT data, outcrop exposures, and surface samples we have good reason to drill-test the full length of the SQRT.
“The long, high-grade intercept in this hole is highlighting not only the SQRT, but also a number of other low resistance zones identified elsewhere on the larger Atlanta property, which covers an extensive collapsed caldera system. AT24HG-41 has increased our confidence in the potential for intrusive-hosted mineralization within the Atlanta District, particularly in areas that may be similarly capped by an impermeable, unmineralized unit. These new target areas significantly exceed the footprint of the Atlanta resource zone (see Figure 4), and with this new drill confirmation, the CSAMT survey data opens up large areas to drill test for similar high-grade mineralization.”
Hole No. | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) |
AT23ET-6 | 13.7 | 15.2 | 1.5 | 0.13 | <0.5 |
AT23HG-34+ | 135.7 | 231.7 | 96.0 | 2.15 | 5.1 |
Includes | 202.7 | 231.7 | 27.4 | 4.50 | 13.3 |
AT23HG-35 | 134.1 | 155.5 | 21.3 | 3.42 | 9.3 |
Includes | 147.9 | 154.0 | 6.1 | 10.39 | 22.0 |
AT23HG-36 | 143.3 | 175.3 | 32.0 | 1.10 | 2.7 |
AT22NS-81T* | 101.8 | 129.9 | 28.0 | 2.90 | 8.1 |
Includes | 123.2 | 128.5 | 5.3 | 10.73 | 21.4 |
AT22NS-83T* | 96.6 | 128.7 | 32.0 | 3.19 | 14.6 |
Includes | 110.4 | 127.1 | 16.8 | 5.35 | 24.1 |
AT22RC-1 | 48.8 | 88.4 | 39.6 | 0.55 | 4.5 |
AT22RC-13 | 0.0 | 19.8 | 19.8 | 0.99 | 7.4 |
AT22RC-16+ | 6.1 | 18.3 | 12.2 | 2.12 | 10.5 |
AT22RC-17 | 33.5 | 59.5 | 25.9 | 1.71 | 20.7 |
AT22RC-18 | 9.1 | 25.9 | 16.8 | 1.12 | 10.3 |
AT22RC-19 | 9.1 | 22.9 | 13.7 | 0.93 | 11.3 |
AT21-41A | 38.1 | 61.0 | 22.9 | 2.17 | 33.7 |
AT21-42 | 9.1 | 36.6 | 27.4 | 0.79 | 3.3 |
AT21-43 | 10.7 | 29.0 | 18.3 | 0.95 | 10.0 |
AT21-43A | 10.7 | 29.0 | 18.3 | 1.90 | 18.6 |
AT21-44 | 4.6 | 24.4 | 19.8 | 0.48 | 4.1 |
Table 2. Previously reported holes used in previous releases along trace of Section 22-4N(2). AT23 series holes were drilled by Nevada King in 2023, AT22 series holes were drilled in 2022, and AT21 series holes were drilled in 2021. True thickness of gold mineralization interpreted in today’s release is 85% to 95% of the reported intercept length in vertical holes. +Denotes holes that bottomed in mineralization. *Denotes core hole.
Hole No. | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) |
KR98-2^ | 201.7 | 231.8 | 30.2 | 0.96 | 6.82 |
KR98-3^ | 202.9 | 219.1 | 16.2 | 0.83 | 0.9 |
KR98-4^ | 0.0 | 99.1 | 99.1 | <0.02 | <0.8 |
KR98-5^ | 0.0 | 138.7 | 138.7 | <0.035 | <1.0 |
KR97-14^ | 177.9 | 210.5 | 32.6 | 2.56 | 2.1 |
AR-20 | 114.3 | 115.9 | 1.5 | 0.27 | 0.1 |
AR-28^ | 130.4 | 146.7 | 16.3 | 0.87 | 6.2 |
AR-29 | 0.0 | 152.4 | 152.4 | <0.003 | <0.1 |
ARC-6 | 0.0 | 230.2 | 230.2 | <0.003 | <1.0 |
AC-5* | 0.0 | 99.7 | 99.7 | <0.003 | <1.0 |
DHRI-11-10RC | 108.2 | 129.6 | 21.3 | 1.75 | 10.6 |
DHRI-11-11RC^ | 88.3 | 111.4 | 23.1 | 1.07 | 5.1 |
DHRI-11-10C* | 74.7 | 114.3 | 39.6 | 1.75 | 23.1 |
Table 3. Historical holes used in Section 22-4N. KR97 and KR98 series holes were drilled by Kinross in 1997 and 1998. AR, ARC, and AC series holes were drilled by Goldfields in 1991. DHRI-11 series holes were drilled by Meadow Bay in 2011. True thickness of gold mineralization interpreted in today’s release is 85% to 95% of the reported intercept length in vertical holes. ^Denotes angle hole. *Denotes core hole.
Discussion of South Quartzite Ridge Target:
The overall north-south trend to mineralization at Atlanta was recognized long before the deposit was open-pitted, but exploration outside of the pit area largely concentrated on chasing a potential northern extension. Potential for a southern extension into the SQRT was considered to be very low, largely because the massive, barren quartzite bounding the southwestern side of the historical pit presented serious challenges, namely lack of obvious mineralization and poor access. Two historical angle holes about 350m deep drilled under the western flank of the ridge hit Eureka Quartzite and underlying Pogonip Limestone but did not encounter Au-Ag mineralization, so efforts to test the ridge ceased by 1998. The general consensus at that time was that mineralization at the southern end of the pit was cut off by the South Fault and little if any potential existed for significant extension southward. However, Nevada King’s 2021 drilling directly south of the pit showed that mineralization did indeed extend south of the South Fault, while the seven E-W oriented CSAMT lines crossing the Quartzite Ridge in 2022 indicated a prominent and persistent, sub-horizontal resistivity low underlying the ridge’s massive, highly resistive quartzite cap starting about 200m below the ridge crest (Figure 5).
Hole AT23HG-37 along Section 22-4N was sited on the northern end of the SQRT in order to test for mineralization underneath the quartzite. The hole collared in massive quartzite and drilled out of largely barren quartzite and into mineralized felsic intrusive tuff and rhyolite at 175m depth, with mineralization continuing to 285m. The contact between intrusive tuff and unaltered Pogonip Limestone was hit at 430m depth. This stratigraphic sequence is seen reflected in the resistivity section shown in Figure 5 along CSAMT Line 10. Projecting the hit in AT23HG-37 southward onto Line 10, the hole would penetrate the gold zone 40m west of the West Atlanta Fault. This same stratigraphic profile is repeated southward past CSAMT Line 7 more than 400m south of AT23HG-37, which now opens up a large area along the anticlinal axis in which to pursue the type of thick mineralization penetrated in holes AT23HG-37 and AT23HG-34, and now in hole AT24HG-41, within a part of the property that has never been previously drill-tested.
QAQC 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 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.
The PQ-diameter core was sampled in the Company’s warehouse in Winnemucca, Nevada, with whole core samples being placed in heavy canvas bags and sent to American Assay Lab in Reno, Nevada, in heavy shipping bags by a Company contractor with full custody being maintained at all times. CRF standards and coarse blanks were inserted into the sample stream on a one-in-twenty sample basis, meaning both inserts are included in each 20-sample group. At American Assay Lab, samples were weighted then completely crushed to -1 inch. The coarse-crushed sample was quarter-split and one quarter was reduced to 75% passing 2mm. A 300g split was subsequently pulverized to 85% passing 75 microns. 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.
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
(000’s) |
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 4. NI 43-101 Mineral Resources at the Atlanta Mine
Figure 1. View of South Quartzite Ridge Target looking east. The ridge’s spine corresponds to the axial plane of the South Quartzite Ridge Anticline, which appears to be the southward continuation of the West Atlanta Fault. Most of the historical holes were vertical and tested the western margin of the SQRT, well west of the anticline’s axial portion. (CNW Group/Nevada King Gold Corp.)
Figure 2. Location map for hole reported in this news release along drill Section 22-4N(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 3. Cross section 22-4N(2) looking north across the West Atlanta Fault that divides the AMFZ target on the east from the WAGZ target on the west. Hole AT24HG-041 drilled down through a dense quartzite cap and into mineralized felsic intrusions emplaced along the West Atlanta Fault. CSAMT data indicates a southward extension to this intrusive zone. (CNW Group/Nevada King Gold Corp.)
Figure 4. Generalized CSAMT map of SQRT showing resistivity high over the Quartzite Ridge and flanking resistivity lows related to felsic tuff, rhyolite, and dacite intrusions that are spatially related to gold mineralization. High resistivity Eureka Quartzite capping the ridge is underlain by low resistivity intrusives and/or decalcified Pogonip Fm. limestone, both of which could potentially host mineralization. The target’s axial portion is untested by previous drilling. (CNW Group/Nevada King Gold Corp.)
Figure 5. CSAMT Lines 2, 5, and 10 looking north across the SQRT show high resistivity quartzite and dolomite (blue) capping low resistivity intrusions and possibly decalcified Pogonip Limestone (yellow to red). This low resistivity zone hosts mineralized felsic intrusions in hole AT24HG-041 and can be tracked southward by CSAMT data for 1.5km along the SQRT’s axis. (CNW Group/Nevada King Gold Corp.)
Figure 6. Full assays released today of the mineralized interval in AT24HG-41 show the consistency of high-grade gold throughout the entire mineralized zone. Consistent distribution of high-grade seen in this hole is a great indication of a strong gold system. The quartzite cap above the mineralization likely aided in concentrating gold deposition in the underlying intrusive rocks, thus pointing to a strong possibility of encountering similar mineralization further southward along the SQRT. (CNW Group/Nevada King Gold Corp.)
Figure 7. Northern end of SQRT showing location of AT24HG-41 in relation to the South Quartzite Ridge Anticline’s axis together with major high-angle faults controlling distribution of intrusions and associated gold mineralization within the Atlanta Resource Zone. These major faults are observed to swing southeastward following the SQRT’s trend and potentially further extend mineralization underneath the barren, impermeable quartzite cap. (CNW Group/Nevada King Gold Corp.)
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