VANCOUVER, BC, Dec. 9, 2024
/CNW/ - Nevada King Gold Corp. (TSXV: NKG) (OTC:
NKGFF) ("Nevada King" or
the "Company") is pleased to announce results from 20
vertical, reverse circulation ("RC") holes and one diamond
core drill hole completed in the North Extension Target
("NET") (Tables 1 and 2) together with 14 RC holes drilled
in the East Ridge Target ("ERT") (Table 5) at its 12,000
hectare (120km2), 100% owned Atlanta Gold Mine Project,
located in the prolific Battle Mountain Trend 264km northeast of
Las Vegas, Nevada. These holes
were completed as part of the Company's Phase II drill program.
Highlights:
|
Hole
No.
|
From
(m)
|
To
(m)
|
Interval
(m)
|
Au
(g/t)
|
Ag
(g/t)
|
|
AT23NS-173
|
149.4
|
178.4
|
29.0
|
1.34
|
2.7
|
|
AT23NS-179*
|
118.9
|
154.0
|
35.1
|
1.45
|
2.6
|
|
AT23NS-177
|
227.1
|
256.1
|
29.0
|
1.95
|
0.9
|
|
Includes
|
228.6
|
234.7
|
6.1
|
6.60
|
5.43
|
|
AT23NS-183A
|
201.2
|
263.7
|
62.5
|
1.05
|
6.1
|
|
AT24NS-189
|
112.8
|
164.6
|
51.8
|
1.21
|
4.8
|
|
Table 1.
Highlight holes released today. Mineralization occurs
along near-horizontal horizons with true mineralized thickness in
vertical holes estimated to be 85% to 95% of reported drill
intercept length. *Denotes holes bottoming in
mineralization.
|
- Highlight hole AT23NS-177 returned 1.95 g/t Au over
29.0m including 6.60 g/t Au over
6.1m, making this one of the
highest-grade holes drilled to date within the NET. AT23NS-177 is
located 150m northwest of previously
released AT21-3 that intercepted 4.64 g/t Au over 18.3m, (released November
23, 2022), demonstrating the presence of multiple high-grade
zones in the NET. The 21 NET holes released today are plotted along
nine cross sections (Figures 3-11) together with 49 previously
released holes drilled by Nevada
King from 2021 to 2023 (Figure 2).
- Results indicate that both grade and thickness within the NET
remains consistent from east to west with highest grades proximal
to the Atlanta Mine Fault Zone ("AMFZ") along a 50m-wide corridor. High-grade holes proximal to
the AMFZ include previously released AT23NS-112 intercepting
4.08 g/t Au over 21.3m,
discovery hole AT21-3 intersecting 4.64 g/t Au over 18.3m, and AT23NS-155 intersecting 2.57
g/t Au over 47.3m including 9.72 g/t
over 9.1m. Today's AT23NS-189
grading 1.21 g/t Au over 51.8m
continues the trend of finding thicker, >1.0 g/t Au oxide
mineralization along this structural corridor.
- Through its Phase I and II drill programs, Nevada King has substantially increased the
drilling density within the NET with a total of 77 holes added to
the 23 historical holes collared in the zone. Mineralization
remains open along strike and laterally of the NET as seen in
Figure 1, extending into new areas such as the Wild West Zone and
trending towards regional targets to the northeast of the historic
resource such as the Bounty and Lone Ranger Targets.
- Final assays from the Phase II drilling at the ERT listed
below in Table 5 show anomalous Au mineralization in nearly
all the holes, which were designed to test shallow, CSAMT intrusive
signatures intruding the barren dolomite ridge east of the historic
pit. These results along with previously released holes at the ERT
including 1.32g/t over 22.9m, show a
small footprint of surface oxide mineralization, which importantly
demonstrates the correlation between geochemistry and field
mapping, with subsurface CSAMT anomalies. This demonstrated
correlation can now be used to identify other CSAMT anomalies that
are analogous to that of the ERT, but on a district scale.
Nevada King is now applying these
concepts to much larger anomalies across the district for a
potential large-scale discovery.
Cal Herron, Exploration Manager
of Nevada King, stated, "Gold
mineralization is remarkably uniform in grade and thickness all
across the NET, with higher grades occurring along and adjacent to
high angle feeder structures. Based on gold, silver, and tracer
element distributions, the NET is clearly a northward extension of
the Atlanta resource zone;
however, unlike the resource zone where mineralization and
associated intrusive activity were concentrated in down-dropped
grabens, the NET mineralization spread along a relatively intact
unconformity surface. The thicker, higher-grade mineralization
within the main deposit at Atlanta
is hosted within deep low resistivity zones, while the shallow low
resistivity zone within the NET represents leakage from the main
deposit. Given these relationships between CSAMT responses and the
observed gold distribution, we are now able to target similar,
shallow NET-type environments elsewhere within the Atlanta caldera that can potentially lead into
higher-grade gold concentrations."
|
Hole
No.
|
From
(m)
|
To
(m)
|
Interval
(m)
|
Au
(g/t)
|
Ag
(g/t)
|
Section
Line
|
|
AT23NS-173
|
149.4
|
178.4
|
29.0
|
1.34
|
2.7
|
30N(3)
|
|
AT23NS-175
|
118.9
|
149.4
|
30.5
|
0.22
|
<0.5
|
31N(3)
|
|
AT23NS-176
|
158.5
|
181.4
|
22.9
|
0.75
|
0.8
|
30N(3)
|
|
AT23NS-177
|
227.1
|
256.1
|
29.0
|
1.95
|
0.9
|
31N(3)
|
|
Includes
|
228.6
|
234.7
|
6.1
|
6.60
|
5.43
|
31N(3)
|
|
AT23NS-178
|
97.6
|
137.2
|
39.6
|
0.33
|
<0.5
|
31N(3)
|
|
AT23NS-179*
|
118.9
|
154.0
|
35.1
|
1.45
|
2.6
|
30N(3)
|
|
AT23NS-180
|
227.1
|
245.4
|
18.3
|
1.35
|
1.3
|
30N(3)
|
|
AT23NS-181
|
237.8
|
248.5
|
10.7
|
1.23
|
1.2
|
28N(3)
|
|
AT23NS-182A*
|
231.7
|
266.8
|
35.1
|
0.94
|
14.0
|
26N(2)
|
|
AT23NS-183A
|
201.2
|
263.7
|
62.5
|
1.05
|
6.1
|
26N(2)
|
|
AT24NS-155C+
|
158.4
|
170.6
|
12.2
|
1.95
|
11.9
|
28N(3)
|
|
AT24NS-184
|
85.4
|
118.9
|
33.5
|
0.66
|
0.5
|
30N(3)
|
|
AT24NS-185
|
225.6
|
248.5
|
22.9
|
1.31
|
6.7
|
27N(3)
|
|
AT24NS-186
|
201.2
|
225.6
|
24.4
|
1.34
|
2.6
|
25N(3)
|
|
AT24NS-187
|
189.0
|
219.5
|
30.5
|
0.91
|
10.1
|
27N(3
|
|
AT24NS-188
|
108.2
|
146.3
|
38.1
|
0.72
|
1.4
|
29N(3)
|
|
AT24NS-189
|
112.8
|
164.6
|
51.8
|
1.21
|
4.8
|
28N(3)
|
|
AT24NS-190
|
233.2
|
253.0
|
19.8
|
1.89
|
9.2
|
23N
|
|
AT24NS-191
|
216.5
|
231.7
|
15.2
|
0.17
|
4.0
|
22N
|
|
AT24NS-192
|
211.9
|
231.7
|
19.8
|
0.66
|
6.9
|
24N(3)
|
|
AT24NS-195
|
216.5
|
251.5
|
35.1
|
0.30
|
9.4
|
22N
|
|
Table 2: All
holes released in today's sections. Mineralization occurs along
near-horizontal horizons with true mineralized thickness in
vertical holes estimated to be 85% to 95% of reported drill
intercept length. *Denotes hole that
bottomed in mineralization.
|
|
Hole
No.
|
From
(m)
|
To
(m)
|
Interval
(m)
|
Au
(g/t)
|
Ag
(g/t)
|
Section
Line
|
|
AT21-001*
|
94.5
|
131.1
|
25.9
|
1.00
|
<0.5
|
30N(3)
|
|
AT21-002
|
82.3
|
105.2
|
22.9
|
0.71
|
<0.5
|
30N(3)
|
|
AT21-003
|
155.5
|
173.8
|
18.3
|
4.64
|
11.2
|
28N(3)
|
|
AT21-004
|
85.4
|
118.9
|
33.5
|
0.74
|
1.4
|
28N(3)
|
|
AT21-005
|
99.1
|
103.7
|
4.6
|
0.42
|
3.4
|
28N(3)
|
|
AT21-006
|
163.1
|
175.3
|
12.2
|
0.96
|
9.8
|
26N(2)
|
|
AT21-007
|
91.5
|
111.3
|
19.8
|
1.01
|
2.2
|
26N(2)
|
|
AT21-002C+
|
86.3
|
104.6
|
18.3
|
0.56
|
2.1
|
30N(3)
|
|
AT22NS-9
|
86.9
|
128.0
|
41.2
|
0.65
|
<0.5
|
30N(3)
|
|
AT22NS-11*
|
102.1
|
125.0
|
22.9
|
1.36
|
0.5
|
29N(3)
|
|
AT22NS-13
|
135.7
|
160.1
|
24.4
|
1.67
|
<0.5
|
28N(3)
|
|
AT22NS-12
|
175.3
|
195.1
|
19.8
|
1.77
|
<0.5
|
28N(3)
|
|
AT22NS-14
|
99.1
|
143.3
|
44.2
|
0.71
|
<0.5
|
27N(3)
|
|
AT23NS-10A
|
105.2
|
144.8
|
39.6
|
0.68
|
2.0
|
29N(3)
|
|
AT22NS-15*
|
155.5
|
176.8
|
21.3
|
1.83
|
5.5
|
26N(2)
|
|
AT23NS-15A
|
160.1
|
179.9
|
19.8
|
1.31
|
12.1
|
26N(2)
|
|
AT22NS-16
|
91.5
|
106.7
|
15.2
|
0.54
|
<0.5
|
27N(3)
|
|
AT22NS-18
|
178.4
|
193.6
|
15.2
|
0.69
|
4.5
|
24N(3)
|
|
AT22NS-19A
|
170.7
|
176.8
|
6.1
|
0.28
|
7.1
|
24N(3)
|
|
AT23NS-108
|
182.9
|
210.4
|
27.4
|
0.31
|
4.0
|
27N(3)
|
|
AT23NS-109
|
225.6
|
239.3
|
13.8
|
3.69
|
1.3
|
30N(3)
|
|
AT23NS-110*
|
175.3
|
201.2
|
25.9
|
1.21
|
3.5
|
29N(3)
|
|
AT23NS-111
|
175.3
|
190.5
|
15.2
|
0.49
|
1.2
|
30N(3)
|
|
AT23NS-112
|
155.5
|
176.8
|
21.3
|
4.03
|
6.7
|
29N(3)
|
|
AT23NS-113
|
256.1
|
297.3
|
41.2
|
0.40
|
5.4
|
24N(3)
|
|
AT23NS-114
|
190.5
|
227.1
|
36.6
|
0.77
|
5.8
|
28N(3)
|
|
AT23NS-115
|
218.0
|
231.7
|
13.7
|
0.82
|
7.1
|
29N(3)
|
|
AT23NS-127
|
117.4
|
146.3
|
28.9
|
0.96
|
1.5
|
29N(3)
|
|
AT23NS-134*
|
94.5
|
128.0
|
33.5
|
0.190
|
<0.5
|
31N(3)
|
|
AT23NS-135
|
99.1
|
125.0
|
25.9
|
0.200
|
<0.5
|
30N(3)
|
|
AT23NS-136
|
79.3
|
99.1
|
19.8
|
0.461
|
0.5
|
31N(3)
|
|
AT23NS-137
|
44.2
|
53.4
|
9.1
|
0.206
|
4.0
|
30N(3)
|
|
And
|
82.3
|
89.9
|
7.6
|
0.240
|
<0.5
|
30N(3)
|
|
AT23NS-138
|
96.0
|
106.7
|
13.7
|
0.363
|
1.8
|
24N(3)
|
|
AT23NS-139
|
27.4
|
33.5
|
6.1
|
0.224
|
3.7
|
27N(3)
|
|
AT23NS-140
|
79.3
|
105.2
|
25.9
|
0.350
|
1.8
|
27N(3)
|
|
AT23NS-141
|
73.2
|
74.7
|
1.5
|
0.309
|
3.4
|
29N(3)
|
|
AT23NS-142
|
122.0
|
155.5
|
33.5
|
0.40
|
0.7
|
30N(3)
|
|
AT23NS-143
|
97.6
|
146.3
|
48.8
|
0.73
|
<0.5
|
30N(3)
|
|
AT23NS-144
|
100.6
|
125.0
|
24.4
|
1.98
|
<0.5
|
29N(3)
|
|
AT23NS-145*
|
109.8
|
131.1
|
21.3
|
0.42
|
1.9
|
28N(3)
|
|
AT23NS-147
|
144.8
|
161.6
|
16.8
|
0.74
|
3.5
|
27N(3)
|
|
AT23NS-148
|
93.0
|
147.9
|
54.9
|
0.65
|
<0.5
|
30N(3)
|
|
AT23NS-153
|
195.1
|
227.1
|
32.0
|
0.73
|
5.3
|
27N(3)
|
|
AT23NS-155
|
146.3
|
193.2
|
47.3
|
2.57
|
4.4
|
28N(3)
|
|
Includes
|
160.1
|
169.2
|
9.1
|
9.72
|
15.5
|
28N(3)
|
|
AT23NS-156
|
103.7
|
135.7
|
32.0
|
0.48
|
1.0
|
30N(3)
|
|
AT23NS-157
|
251.5
|
283.5
|
32.0
|
0.77
|
16.4
|
24N(3)
|
|
AT23NS-158*
|
216.5
|
245.4
|
29.0
|
0.91
|
1.9
|
24N(3)
|
|
AT23NS-159
|
166.2
|
186.0
|
19.8
|
1.15
|
14.0
|
27N(3)
|
|
AT23NS-160*
|
91.5
|
129.6
|
38.1
|
0.40
|
2.7
|
28N(3)
|
|
Table 3.
Previously released drill holes used in today's cross sections. AT
series holes were drilled by Nevada King in 2021 to 2024.
Mineralization occurs along near-horizontal horizons with
true mineralized thickness in vertical holes estimated to be 85% to
95% of reported drill intercept length. *Denotes holes
bottoming in mineralization. +Denotes core
hole.
|
|
Hole
No.
|
From
(m)
|
To
(m)
|
Interval
(m)
|
Au
(g/t)
|
Ag
(g/t)
|
|
DHRI-11-03RC
|
68.6
|
77.7
|
9.1
|
<0.10
|
5.76
|
|
DHRI-11-05RC
|
61.0
|
82.3
|
21.3
|
0.24
|
3.0
|
|
DHRI-11-06RC
|
76.2
|
77.7
|
1.5
|
0.10
|
7
|
|
DHRI-11-07RC*
|
74.7
|
108.2
|
33.5
|
0.18
|
0.7
|
|
DHRI-11-09RC
|
175.2
|
179.8
|
4.6
|
0.11
|
<0.5
|
|
DHRI-11-08C+
|
175.3
|
182.9
|
7.6
|
0.09
|
<0.5
|
|
DHRI-11-12C+
|
297.3
|
304.9
|
7.6
|
0.27
|
11.4
|
|
DHRI-11-13C+
|
169.2
|
213.4
|
44.2
|
0.27
|
1.7
|
|
KN98-10^
|
198.2
|
211.9
|
13.7
|
1.19
|
1.0
|
|
KN98-11^
|
230.2
|
253.0
|
22.9
|
2.07
|
0.7
|
|
KN98-12
|
196.6
|
224.1
|
27.5
|
0.77
|
1.9
|
|
KN98-13^
|
231.7
|
274.4
|
42.7
|
0.67
|
<0.5
|
|
KN98-14^
|
237.8
|
265.2
|
27.4
|
0.48
|
3.0
|
|
AR-06^
|
146.3
|
157.0
|
10.7
|
0.14
|
29.8
|
|
AR-07^
|
112.8
|
137.2
|
24.4
|
0.73
|
0.6
|
|
Table 4. All historic holes used in today's cross
sections. AR series holes drilled by Goldfields in 1991. KN series
holes drilled by Kinross in 1998. DHRI series holes drilled by
Meadow Bay in 2011. *Denotes holes that bottomed in
mineralization. +Denotes core hole. ^Denotes
angled hole.
|
|
Hole
No.
|
From
(m)
|
To
(m)
|
Interval
(m)
|
Au
(g/t)
|
Ag
(g/t)
|
|
AT24ET-16
|
NSM
|
NSM
|
NSM
|
NSM
|
NSM
|
|
AT24ET-17
|
0
|
7.6
|
7.6
|
0.22
|
1.26
|
|
AT24ET-18
|
NSM
|
NSM
|
NSM
|
NSM
|
NSM
|
|
AT24ET-19
|
27.4
|
35.1
|
7.6
|
0.103
|
<0.5
|
|
AT24ET-20
|
NSM
|
NSM
|
NSM
|
NSM
|
NSM
|
|
AT24ET-21
|
NSM
|
NSM
|
NSM
|
NSM
|
NSM
|
|
AT24ET-22
|
30.5
|
38.1
|
7.6
|
<0.1
|
1.28
|
|
AT24ET-23
|
0
|
15.2
|
15.2
|
0.46
|
1.08
|
|
AT24ET-24
|
4.6
|
12.2
|
7.6
|
0.10
|
1.02
|
|
AT24ET-25
|
7.6
|
18.3
|
10.7
|
1.1
|
1.59
|
|
AT24ET-26
|
1.5
|
7.6
|
6.1
|
0.20
|
<0.5
|
|
AT24ET-27
|
15.2
|
24.4
|
9.1
|
0.435
|
1.65
|
|
AT24ET-28
|
50.3
|
71.6
|
21.3
|
0.431
|
<0.5
|
|
AT24ET-29
|
12.2
|
13.7
|
1.5
|
0.141
|
4.8
|
|
Table 5. All remaining East Ridge Target holes
reported in today's release.
|
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.
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
(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 6. 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 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.
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SOURCE Nevada King Gold Corp.
