Nevada King Gold Corp V.NKG

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NEVADA KING INTERCEPTS 3.52 G/T AU OVER 61.0M AND 6.05 G/T AU OVER 41.1M INCLUDING 19.44 G/T AU OVER 7.6M, EXTENDS OXIDE MINERALIZATION 300M NORTHWEST OF THE ATLANTA PIT

PR Newswire - Feb 12, 2024 8:30 AM AST

VANCOUVER, BC, Feb. 12, 2024 /PRNewswire/ - Nevada King Gold Corp. (TSXV: NKG) (OTCQX: NKGFF) ("Nevada King" or the "Company") is pleased to announce results from seven vertical, reverse circulation ("RC") holes completed in the northern portion of the West Atlanta Graben Zone ("WAGZ") at its 5,166 hectare (51.6km2), 100% owned Atlanta Gold Mine Project, located in the prolific Battle Mountain Trend 264km northeast of Las Vegas, Nevada. Today's holes are plotted on plan and section on Figures 1 and 2 below.

Highlights:

Hole No.	From (m)	To (m)	Interval (m)	Au (g/t)	Ag (g/t)
AT23WS-62	291.1	332.2	41.1	6.05	25.0
Includes	294.1	301.8	7.6	19.44	21.6
AT23WS-45	263.7	624.7	61.0	3.52	15.7
Includes	280.5	291.2	10.7	7.55	36.3
Table 1. Highlighted holes released on Section 22N-16N(2). Mineralization occurs along near-horizontal horizons with true mineralized thickness estimated to be 90% to 100% of reported drill intercept length.

• AT23WS-62 intercepted 6.05 g/t Au over 41.1m including 19.44 g/t Au over 7.6m and was drilled approximately 300m northwest of the Atlanta Pit approximately 8m west of historical RC hole DHRI-12-MRC1 (1.95g/t Au over 77.8m), which did not completely penetrate the mineralized zone. AT23WS-62 did fully penetrate the mineralized zone and returned an average grade three times greater than DHRI-12-MRC1. Referring to Figure 2, AT23WS-62 drilled across a high-angle structure into an adjacent mineralized block, which accounts for the shorter intercept length when compared to DHRI-12-MRC1.
   
• The very high-grade interval in AT23WS-62 (19.44 g/t Au over 7.6m) may correlate to another sub-vertical high-grade feeder structure and its cross-cutting of a near horizontal receptive stratigraphic unit similar to the interpreted zone recently reported along Section 22-8N(3) in which hole AT23NS-174 intercepted 19.2 g/t Au over 10.7m (released February 6, 2024).
   
• Eastward from AT23WS-62, holes AT23WS-45 (61.0m @ 3.52 g/t Au), AT22WS-2 (71.7m @ 2.31 g/t Au), and AT23WS-60 (97.5m @ 1.04 g/t Au) display a gradual eastward decrease in grade within this 100m-wide portion of the WAGZ between the West Atlanta #2 and West Atlanta #1 Faults (see Figure 2), with mineralized thicknesses remaining relatively uniform. This lateral continuity in mineralization is also observed along previously reported lines to the south and appears to be characteristic of grade distribution within the WAGZ.
   
• Gold mineralization along Section 22-16N(2) now extends approximately 340m east-west, and remains open to the west and to the north from this area toward the North Extension Target ("NET"). Hole AT23WS-63 at the west end of the section returned 1.18 g/t Au over 27.4m but was lost in an open void before drilling deep enough to intersect the projected higher-grade zone and consequently must be re-drilled. The Company is currently drilling north of Section 22-16N(2) in order to connect the WAGZ with the NET.

Cal Herron, Exploration Manager of Nevada King, stated, "The north end of the WAGZ is becoming strikingly similar to the southern end, where we see good lateral continuity of mineralization across a 100m to 150m-wide, fairly flat-lying horizon measuring from 50m to over 100m thick. As we continue testing for similar mineralization along lines north and south of Section 22-16N(2), good potential exists for building tonnage. The presence of the high-grade intercept in AT23WS-62 (19.44 g/t Au over 7.6m) raises the possibility of encountering additional zones of elevated high-grade mineralization within the immediate vicinity that could also impact the overall grade of the WAGZ.

"Drilling is now underway north of today's holes and is oriented to potentially connect the northern end of the WAGZ with the southern end of the NET. If successful, connecting these zones would significantly enlarge a growing mineralized area at Atlanta that is located well north of the existing Gustavson 2020 resource boundary. Concurrently, on-going exploratory drilling continues to concentrate on further expansion of the resource zone together with upgrading of Au/Ag mineralization along major structures and at structural intersections along the AMFZ and within the WAGZ."     

 

 

Hole No.	From (m)	To (m)	Interval (m)	Au (g/t)	Ag (g/t)
AT23WS-42	312.5	341.5	29.0	2.03	13.9
AT23WS-45	263.7	324.7	61.0	3.52	15.7
Includes	280.5	291.2	10.7	7.55	36.3
AT23WS-57*	306.3	340.0	33.7	0.14	12.37
AT23WS-60	240.2	301.8	97.5	1.04	4.9
AT23WS-62	291.1	332.2	41.1	6.05	25.0
Includes	294.1	301.8	7.6	19.44	21.6
AT23WS-63*	309.4	336.8	27.4	1.18	18.3
AT23NS-149	175.3	192.1	16.8	0.46	10.14
Table 2. All holes released today on section 22-16N (2). Mineralization occurs along near-horizontal horizons with true mineralized thickness in vertical holes estimated to be 90% to 100% of reported drill intercept length. *Denotes holes that bottomed in mineralization.

 

Hole No.	From (m)	To (m)	Interval (m)	Au (g/t)	Ag (g/t)
AT22WS-002*	227.1	298.8	71.7	2.31	5.8
Includes	265.2	298.8	33.6	4.10	10.2
AT22WS-003A	179.9	259.1	79.3	0.44	3.8
AT22WS-012*	204.2	259.1	54.9	0.21	1.2
AT22NS-028T+	65.5	130.3	64.8	0.50	9.2
AT22NS-029A	1.5	32.0	30.5	0.66	14.0
AT21-13	53.4	67.1	13.7	0.82	3.8
AT21-14	0.0	24.4	24.4	0.35	38.4
DHRI-11-NRC03	263.7	320.1	56.4	3.9	20.9
Includes	265.2	280.5	15.3	8.6	13.22
DHRI-12-MRC1*	271.3	349.1	77.8	1.95	6.49
GC96-09^	0	27.4	27.4	0.41	2.35
AR-41^	0	19.8	19.8	0.16	21.7
Table 3. Previously released and historical holes used on section 22-16N(2). AT series holes drilled by Nevada King in 2021 and 2022. DHRI series holes drilled by Meadow Bay in 2011 and 2012. GC series by Goldenchief in 1996 and lastly, AR series by Goldfields in 1991. *Denotes holes that bottomed in mineralization. ^Denotes angled holes. +Denotes core holes.