Nevada King Gold Corp. [NKG-TSXV; NKGFF-OTCQX] reported assay results from 11 reverse circulation (RC) holes recently completed at its 100%-owned Atlanta gold mine project located 264 km northeast of Las Vegas, Nevada, in the prolific Battle Mountain trend. This drilling was designed to test the extent of the gold footprint within the North Extension Target (the NET), a newly identified mineralized zone located north of the historical Atlanta Pit outside of the 2020 Gustavson resource zone.
North Extension target highlights: Hole AT22NS-9 returned 41.2 metres of 0.65 g/t gold. Hole AT22NS-11* returned 22.9 metres of 1.36 g/t gold. Hole AT22NS-15* returned 21.3 metres of 1.83 g/t gold. * denotes hole bottomed in mineralization. The eleven vertical RC holes released today are located north and south from an initial fence of holes into the NET along Section E-E’ reported November 23, 2022 . These holes were drilled proximal to the northerly-trending Atlanta Mine Fault Zone (AMFZ), both north and south of the NET discovery hole AT21-003 released November 22, 2021 , which returned 9.1 metres of 8.26 g/t gold within a broader intercept of 18.3 metres of 4.64 g/t gold.
Today’s holes are focused along sections G-G’ and H-H’, which cut across the AMFZ showing vertical displacement (west side down), with the highest grade intervals continuing to be found proximal to the fault. This higher-grade “core” mineralization along the fault zone is approximately 50 metres wide.
Mineralization within the NET target is now drill defined over a strike length of 175 metres north-south, spanning 300 metres east-west, with today’s Section H-H’ located approximately 600 metres north of the historical pit. Should the NET mineralization ultimately tie into the existing Gustavson resource, it would roughly double the footprint of the overall mineralized gold zone at Atlanta.
Prior to these latest results the NET target area comprised an approximately 150-metre wide corridor. With these current results the NET target area footprint is now interpreted to be up to 400 metres wide. This is an important development as it significantly increases the potential for inclusion of the NET within the main pit zone, particularly if future drilling finds gold mineralization in the untested East Ridge Target area (ERT).
Many of today’s holes bottomed in gold mineralization and the NET also remains open to further expansion to the east and west where further step-out drilling is planned. Of note is that three historical holes were drilled on the east side of the NET, but based on the current interpretation all of them were too shallow to reach gold mineralization.
Cal Herron, Exploration Manager, stated: “The NET target represents a significant expansion area with a growing mineralized footprint. Drilling is set to resume shortly within the NET and will continue to target the high-grade portion of this zone along the AMFZ, the depth of mineralization, and the lateral extent, particularly eastward into a large area of the untested potential where gold mineralization occurs in outcrop at the northern edge of the ERT. We look forward to receiving the pending assays for holes completed between Section G-G’ and the pit, which will indicate if the NET could potentially be joined together with the existing resource.”
Holes AT22NS-18 and AT22NS-19, drilled across the projection of the AMFZ south of Section G-G’, indicate the AMFZ has either jogged eastward or has been fault-displaced to the east. Follow-up drilling east of AT22NS-19 is planned to pick up the fault zone again. Meanwhile, holes AT22NS-3, AT22NS-4, AT22NS-5, AT22NS-6, and AT22NS-7, drilled north of Section H-H’, show a drop-off in gold mineralization between AT22NS-9 and AT22NS-7 and suggest a significant lateral fault offset of the AMFZ. Planned step-out drilling along Section H-H’ will eventually define the type of offset or lithologic discontinuity indicated by this sudden loss of mineralization northward along trend.
Nevada King is the third largest mineral claim holder in the State of Nevada, behind Nevada Gold Mines (Barrick/Newmont) and Kinross Gold. The company is well funded with cash of approximately $12 million as of December 2022.