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Company Announcements

Nevada King Gold Corp, Nevada King Gold Corp

NEVADA KING INTERCEPTS 3.95 G/T AU OVER 106.7 METRES INCLUDING 9.39 G/T AU OVER 38.4M AND 2.29 G/T AU OVER 123.5M INCLUDING 5.24 G/T AU OVER 35.1M AT ATLANTA

VANCOUVER, BC , Oct. 23, 2024 /CNW/ - Nevada King Gold Corp.(TSXV: NKG) (OTC: NKGFF) ("Nevada King" or the "Company") is pleased to announce assay results for two vertical diamond drill holes and eight reverse circulation ("RC") holes completed in the northern portion of the West Atlanta Graben Zone ("WAGZ") at its Atlanta Gold Mine Project located 264km northeast of Las Vegas, Nevada, in the prolific Battle Mountain Trend. Today's holes are plotted on plan and section in Figures 1-3 below.

Highlights:

Hole No.

From (m)

To (m)

Interval (m)

Au (g/t)

Ag (g/t)

AT23WS-44C*+

218.0

324.7

106.7

3.95

58.7

Includes

267.1

305.5

38.4

9.39

17.8

AT23WS-52*

213.4

336.9

123.5

2.29

23.0

Includes

272.9

307.9

35.1

5.24

66.3

AT23WS-46*

301.8

332.4

30.6

3.01

18.5

Includes

304.9

311.0

6.1

9.55

23.9

Table 1. Highlight holes released today. AT23WS-44C and AT23WS-52 are interpreted to have intersected a sub vertical feeder zone cutting through a flat-lying horizon of mineralization that generally dips westward while AT23WS-46 simply penetrated the mineralized sub-horizontal unconformity. T rue mineralized thickness in vertical holes is estimated between 85% and 95% of reported drill intercept length thickness. *Denotes holes that bottomed in mineralization. +Denotes core hole.

  • Vertical core hole AT23WS-44C intercepted 3.95 g/t Au over 106.7m including 9.39 g/t Au over 38.4m and was drilled approximately 10 metres west of vertical RC hole AT23WS-44 which intercepted 11.64 g/t Au over 108.3m (released October 2, 2023). AT23WS-44C was designed to provide metallurgical material for the Phase II metallurgy test program.

  • Overall mineralized thickness and the distribution of high-grade horizons in AT23WS-44C and AT23WS-44 demonstrate good lateral correlation, with gold being preferentially deposited within a 70m to 100m thick horizon largely consisting of a rhyolitic intrusion and surrounding silica breccia developed in sub-horizontal, receptive carbonate-rich beds. The higher overall grade seen in previously released AT23WS-44 relative to today's WS-44C is most likely due its closer proximity to the feeder structure (North Fault).

  • As shown in Figure 3, gold mineralization is contiguous across a 100m wide zone from AT23WS-21 on the west to AT23WS-49 on the east and is generally centred on the unconformity separating the brecciated and silicified Paleozoic carbonate basement from overlying Tertiary intrusions and volcanics. As seen throughout the resource zone, gold grade distribution is strongly influenced by high-angle feeder structures (like the North Fault) that cut the unconformity, with higher grades occurring proximal to these structures, and grades decreasing laterally away from them. This is better illustrated in Figure 4 where the highest grades are tightly confined to the North Fault and adjacent West Atlanta Fault #1 and decrease laterally to the west and east.

  • Hole AT23WS-52 intersected 2.29 g/t Au over 123.5m including 5.24 g/t Au over 35.1m on the north side of the North Fault, where intercept grades tend to be lower compared to intercepts south of the North Fault in this part of the WAGZ.

Cal Herron, Exploration Manager of Nevada King, stated, "Holes reported today complete sections 22-15N(3) and 22-14N(2) for the Phase II drilling program. Drilling in the northern portion of the WAGZ has resulted in a large mineralized area measuring 250m E-W by 170m N-S hosting thick packages of consistent oxide mineralization. Grades are strongest within the graben bounded by the West Atlanta Fault on the east side and remain open to the west awaiting further deep drilling in Phase III following the discovery of AT24WS-83 and AT24WS-84 (see October 21, 2024 release). All mineralization intersected in this area is heavily oxidized and many of the holes drilled often have intervals exceeding 10g/t. Nevada King completed 39 holes from Phase I and Phase II drilling along both sections 14 and 15, thereby increasing the drilling by 84% from historical drill data (six drill holes) and developing a strong footprint of consistent, thick mineralization. The close connection we have consistently observed between high-grade mineralization and rhyolitic intrusions, as shown in Figure 4, exemplifies one such model that will soon be pursued in previously untested target areas located 0.5km to 4km outside of the current resource zone -- in all directions."

 

Hole No.

From
(m)

To
(m)

Interval
(m)

Au
(g/t)

Hole No.

From
(m)

To
(m)

Interval
(m)

Au
(g/t)

AT23WS-44

213.4

214.9

1.5

0.05

AT23WS-44C

214.0

215.5

1.5

0.04

AT23WS-44

214.9

216.4

1.5

1.47

AT23WS-44C

215.5

217.9

2.4

0.04

AT23WS-44

216.4

217.9

1.5

1.51

AT23WS-44C

217.9

218.5

0.6

0.44

AT23WS-44

217.9

219.5

1.5

2.72

AT23WS-44C

218.5

219.8

1.2

0.44

AT23WS-44

219.5

221.0

1.5

1.70

AT23WS-44C

219.8

222.0

2.3

1.14

AT23WS-44

221.0

222.5

1.5

0.85

AT23WS-44C

222.0

223.1

1.1

0.24

AT23WS-44

222.5

224.0

1.5

0.40

AT23WS-44C

223.1

224.6

1.5

0.17

AT23WS-44

224.0

225.6

1.5

0.26

AT23WS-44C

224.6

225.9

1.2

0.14

AT23WS-44

225.6

227.1

1.5

0.27

AT23WS-44C

225.9

227.7

1.8

0.07

AT23WS-44

227.1

228.6

1.5

0.72

AT23WS-44C

227.7

229.2

1.5

0.20

AT23WS-44

228.6

230.1

1.5

0.76

AT23WS-44C

229.2

231.0

1.8

0.37

AT23WS-44

230.1

231.7

1.5

0.33

AT23WS-44C

231.0

232.0

0.9

0.71

AT23WS-44

231.7

233.2

1.5

0.24

AT23WS-44C

232.0

232.7

0.8

1.34

AT23WS-44

233.2

234.7

1.5

0.39

AT23WS-44C

232.7

234.5

1.8

0.79

AT23WS-44

234.7

236.2

1.5

0.22

AT23WS-44C

234.5

235.9

1.4

0.48

AT23WS-44

236.2

237.7

1.5

0.24

AT23WS-44C

235.9

237.4

1.5

0.39

AT23WS-44

237.7

239.3

1.5

0.51

AT23WS-44C

237.4

239.0

1.5

0.36

AT23WS-44

239.3

240.8

1.5

1.26

AT23WS-44C

239.0

240.5

1.5

0.32

AT23WS-44

240.8

242.3

1.5

1.83

AT23WS-44C

240.5

242.3

1.8

0.61

AT23WS-44

242.3

243.8

1.5

3.41

AT23WS-44C

242.3

243.7

1.4

1.70

AT23WS-44

243.8

245.4

1.5

5.85

AT23WS-44C

243.7

245.1

1.4

0.91

AT23WS-44

245.4

246.9

1.5

3.84

AT23WS-44C

245.1

246.6

1.5

2.82

AT23WS-44

246.9

248.4

1.5

3.57

AT23WS-44C

246.6

247.8

1.2

2.58

AT23WS-44

248.4

249.9

1.5

1.82

AT23WS-44C

247.8

249.0

1.2

NS

AT23WS-44

249.9

251.5

1.5

2.15

AT23WS-44C

249.0

250.7

1.7

1.37

AT23WS-44

251.5

253.0

1.5

6.68

AT23WS-44C

250.7

252.5

1.8

0.25

AT23WS-44

253.0

254.5

1.5

9.88

AT23WS-44C

252.5

253.6

1.1

0.19

AT23WS-44

254.5

256.0

1.5

5.72

AT23WS-44C

253.6

255.7

2.1

0.03

AT23WS-44

256.0

257.6

1.5

3.23

AT23WS-44C

255.7

257.1

1.4

0.02

AT23WS-44

257.6

259.1

1.5

0.35

AT23WS-44C

257.1

258.5

1.4

0.09

AT23WS-44

259.1

260.6

1.5

0.09

AT23WS-44C

258.5

260.8

2.3

0.06

AT23WS-44

260.6

262.1

1.5

0.13

AT23WS-44C

260.8

262.4

1.7

0.09

AT23WS-44

262.1

263.7

1.5

0.15

AT23WS-44C

262.4

264.0

1.5

0.07

AT23WS-44

263.7

265.2

1.5

0.31

AT23WS-44C

264.0

265.5

1.5

0.23

AT23WS-44

265.2

266.7

1.5

0.54

AT23WS-44C

265.5

267.0

1.5

0.46

AT23WS-44

266.7

268.2

1.5

0.81

AT23WS-44C

267.0

268.7

1.7

11.87

AT23WS-44

268.2

269.8

1.5

0.98

AT23WS-44C

268.7

270.1

1.4

5.93

AT23WS-44

269.8

271.3

1.5

1.35

AT23WS-44C

270.1

271.6

1.5

1.66

AT23WS-44

271.3

272.8

1.5

1.54

AT23WS-44C

271.6

273.1

1.5

0.61

AT23WS-44

272.8

274.3

1.5

8.96

AT23WS-44C

273.1

274.6

1.5

15.0

AT23WS-44

274.3

275.8

1.5

26.33

AT23WS-44C

274.6

275.2

0.6

0.66

AT23WS-44

275.8

277.4

1.5

22.53

AT23WS-44C

275.2

276.2

0.9

1.07

AT23WS-44

277.4

278.9

1.5

17.00

AT23WS-44C

276.2

278.0

1.8

0.64

AT23WS-44

278.9

280.4

1.5

30.20

AT23WS-44C

278.0

279.5

1.5

31.60

AT23WS-44

280.4

281.9

1.5

57.20

AT23WS-44C

279.5

281.0

1.5

15.47

AT23WS-44

281.9

283.5

1.5

34.53

AT23WS-44C

281.0

282.6

1.5

1.01

AT23WS-44

283.5

285.0

1.5

169.80

AT23WS-44C

282.6

284.1

1.5

8.67

AT23WS-44

285.0

286.5

1.5

155.40

AT23WS-44C

284.1

285.6

1.5

5.42

AT23WS-44

286.5

288.0

1.5

48.07

AT23WS-44C

285.6

287.1

1.5

27.4

AT23WS-44

288.0

289.6

1.5

13.40

AT23WS-44C

287.1

288.6

1.5

3.89

AT23WS-44

289.6

291.1

1.5

14.00

AT23WS-44C

288.6

290.2

1.5

2.54

AT23WS-44

291.1

292.6

1.5

6.68

AT23WS-44C

290.2

291.7

1.5

2.83

AT23WS-44

292.6

294.1

1.5

12.13

AT23WS-44C

291.7

293.2

1.5

6.21

AT23WS-44

294.1

295.7

1.5

18.20

AT23WS-44C

293.2

295.0

1.8

5.47

AT23WS-44

295.7

297.2

1.5

13.80

AT23WS-44C

295.0

296.9

1.8

12.47

AT23WS-44

297.2

298.7

1.5

11.33

AT23WS-44C

296.9

298.9

2.0

5.83

AT23WS-44

298.7

300.2

1.5

13.40

AT23WS-44C

298.9

299.9

1.1

7.67

AT23WS-44

300.2

301.8

1.5

20.00

AT23WS-44C

299.9

301.8

1.8

34.20

AT23WS-44

301.8

303.3

1.5

25.73

AT23WS-44C

301.8

302.8

1.1

10.53

AT23WS-44

303.3

304.8

1.5

8.11

AT23WS-44C

302.8

305.4

2.6

6.66

AT23WS-44

304.8

306.3

1.5

7.41

AT23WS-44C

305.4

305.9

0.5

NS

AT23WS-44

306.3

307.9

1.5

2.38

AT23WS-44C

305.9

307.5

1.7

1.28

AT23WS-44

307.9

309.4

1.5

1.79

AT23WS-44C

307.5

309.4

1.8

1.11

AT23WS-44

309.4

310.9

1.5

1.67

AT23WS-44C

309.4

310.9

1.5

1.58

AT23WS-44

310.9

312.4

1.5

0.88

AT23WS-44C

310.9

311.5

0.6

1.07

AT23WS-44

312.4

313.9

1.5

1.29

AT23WS-44C

311.5

313.0

1.5

2.12

AT23WS-44

313.9

315.5

1.5

1.22

AT23WS-44C

313.0

314.7

1.7

2.40

AT23WS-44

315.5

317.0

1.5

6.38

AT23WS-44C

314.7

315.9

1.2

2.00

AT23WS-44

317.0

318.5

1.5

6.81

AT23WS-44C

315.9

317.6

1.7

1.08

AT23WS-44

318.5

320.0

1.5

2.01

AT23WS-44C

317.6

319.1

1.5

0.27

AT23WS-44

320.0

321.6

1.5

2.09

AT23WS-44C

319.1

320.3

1.2

0.58

AT23WS-44

321.6

323.1

1.5

1.39

AT23WS-44C

320.3

321.6

1.2

0.74

AT23WS-44

323.1

324.6

1.5

0.20

AT23WS-44C

321.6

323.1

1.5

0.27

AT23WS-44

324.6

326.1

1.5

0.29

AT23WS-44C

323.1

324.6

1.5

3.80

Table 2. Comparative assay table for results from AT23WS-44C and AT23WS-44 demonstrating a similar thick sequence of mineralization between both holes as well as similar elevations for high-grade Au mineralization. "NS" denotes intervals with no sample recovered.

 

 

Hole No.

From (m)

To (m)

Interval (m)

Au (g/t)

Ag (g/t)

Section Line

AT23WS-44C*+

218.0

324.7

106.7

3.95

58.7

15N(3)

Includes

267.1

305.5

38.4

9.39

17.8

15N(3)

AT23WS-052*

213.4

336.9

123.5

2.29

23.0

15N(3)

Includes

272.9

307.9

35.1

5.24

66.3

15N(3)

AT23WS-046*

301.8

332.36

30.5

3.01

18.5

15N(3)

Includes

304.9

311.0

6.1

9.55

23.9

15N(3)

AT23WS-49*

164.6

292.7

128.1

0.39

4.7

15N(3)

AT23WS-55*

199.7

347.6

147.9

0.62

5.3

15N(3)

AT23WS-75*

198.2

306.4

108.2

0.62

7.6

15N(3)

AT22WS-5T*

201.2

222.9

21.6

0.82

6.9

15N(3)

AT23WS-56*

196.6

291.2

94.5

1.55

27.7

14N(2)

AT23NS-123

161.6

196.6

35.1

0.52

12.9

14N(2)

AT23WS-40*

332.3

359.8

27.4

0.72

8.3

14N(2)

Table 3. All newly reported holes on sections 22-15N(3) and 14N(2). This hole is interpreted to have intersected a sub vertical feeder zone cutting through a flat-lying horizon of mineralization that generally dips westward ; true mineralized thickness in vertical holes is estimated between 85% and 95% of reported drill intercept length thickness, see detailed interpretation section and accompanying discussion below. * Denotes holes that bottomed in mineralization. + Denotes core hole.

 

Hole No.

From

(m)

To

(m)

Interval
(m)

Au

(g/t)

Ag

(g/t)

Section Line

AT24WS-83

387.1

429.8

42.7

4.67

25.3

15N(3)

Includes

408.4

426.7

18.3

7.94

18.3

15N(3)

AT24WS-84*

448.0

458.7

10.7

3.92

14.03

15N(3)

AT23WS-44

214.9

323.2

108.2

11.65

17.4

15N(3)

Includes

274.4

303.4

29.0

37.18

34.4

15N(3)

Includes

283.5

286.6

3.0

162.6

15.6

15N(3)

AT23WS-25A*

318.6

343.0

24.4

1.19

11.7

15N(3)

AT23WS-41

335.4

358.2

22.9

0.29

15.1

15N(3)

AT23WS-22

288.0

330.8

42.8

5.64

6.7

15N(3)

Includes

292.7

300.3

7.6

28.5

10.7

15N(3)

AT23WS-21

280.5

343.0

62.5

0.31

3.3

15N(3)

AT22WS-4

279.0

346.0

67.0

2.07

12.1

15N(3)

Includes

317.1

333.8

16.7

3.63

12.6

15N(3)

AT23WS-20

275.9

337.0

61.1

3.04

21.4

15N(3)

Includes

286.6

291.2

4.6

15.84

19.8

15N(3)

AT23WS-5C

207.3

320.0

112.7

1.08

14.8

15N(3)

AT23NS-104

198.2

244.0

45.8

0.35

5.0

15N(3)

AT23NS-103

192.1

202.7

10.6

0.37

3.4

15N(3)

AT23NS-102

129.5

141.8

12.3

0.41

23.4

15N(3)

And

166.2

190.5

24.3

0.40

5.2

15N(3)

AT23NS-101

71.6

111.3

39.7

0.17

19.1

15N(3)

AT23NS-105

282.0

343.0

61.0

1.09

5.7

14N(2)

Includes

294.2

295.7

1.5

10.92

9.5

14N(2)

AT23WS-34*

205.8

320.1

114.3

1.74

13.8

14N(2)

AT22WS-6*

202.7

314.0

111.3

0.56

8.3

14N(2)

AT22WS-7

211.9

306.4

94.5

0.59

10.1

14N(2)

AT22WS-11*

193.6

283.5

89.9

1.05

19.1

14N(2)

AT22WS-10A

199.7

228.7

29.0

0.69

15.1

14N(2)

AT22NS-30

0.0

140.2

140.2

<0.07

<0.5

14N(2)

AT22NS-31

62.5

71.6

9.1

0.41

21.6

14N(2)

AT22RC-20^

109.8

128.0

18.3

0.54

12.4

14N(2)

AT22RC-21^

9.1

13.7

4.6

0.25

1.00

14N(2)

AT22RC-15^

54.9

97.6

42.7

0.25

20.7

14N(2)

AT21-15

24.4

53.4

22.9

0.44

32.3

14N(2)

AT21-18

0.0

3.0

3

0.15

18.1

14N(2)

AT21-18B^

0.0

4.6

4.6

0.13

22.9

14N(2)

AT21-19

16.8

19.8

3

0.14

5.1

14N(2)

Table 4. Previously released holes on Sections 22-15N(3) and 22-14N(2). AT series holes all drilled by Nevada King from 2021 to 2023. Mineralization occurs along sub-horizontal horizons generally dipping gently westward; true mineralized thickness in vertical holes is estimated between 85% and 95% of reported drill intercept length. * Denotes holes that bottomed in mineralization. ^ Denotes angled holes.

 

Hole No.

From (m)

To (m)

Interval (m)

Au (g/t)

Ag (g/t)

DHRI-11-NRC4

317.1

353.7

36.6

1.71

6.8

KR98-21*^

242.4

262.2

19.8

1.19

1.6

DHRI-11-7C*

202.7

293.0

90.2

0.97

25.4

DHRI-12-MRC4*

272.9

295.7

22.9

3.27

3.6

DHRI-15-LRC1

208.8

311.0

102.1

1.66

8.9

DHRI-15-LRC2

275.9

309.5

33.5

0.28

<0.5

Table 5 : Historical holes used in Section 22-15N(3) and 22-14N(2). KR98 series hole was drilled by Kinross in 1998. DHRI series hole was drilled by Meadow Bay in 2011, 2012, and 2015. Mineralization occurs along flat-lying horizons generally dipping gently westward; true mineralized thickness in vertical holes is estimated to be between 85% and 95% of reported drill intercept length. * Denotes holes that bottomed in mineralization. ^ Denotes angled holes.

QA/QC Protocols

All RC samples from the Atlanta Project are taken at 1.5m intervals, split at the drill site and placed in cloth and plastic bags utilizing a nominal 2kg sample weight. Certified Reference Material (CRM) standards, blanks, and blind duplicates are inserted into the sample stream on-site on a one-in-twenty sample basis, meaning all three control 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 though 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 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.

 

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SOURCE Nevada King Gold Corp.