Nevada King drills 2.74 g/t gold over 89 metres at Atlanta gold mine, Nevada

Nevada King Gold Corp. [NKG-TSXV; NKGFF-OTCQX] reported high-grade gold assay results from one core hole and three reverse circulation (RC) holes recently completed at its Atlanta gold mine project, located 264 km northeast of Las Vegas, Nevada in the prolific Battle Mountain trend.

Drill hole At22HG-8T returned 49.7 metres of 3.50 g/t gold and 3.3 g/t silver, including 13.4 metres of 7.65 g/t gold and 6.6 g/t silver and 39.6 metres of 1.54 g/t gold and 2.6 g/t silver for an aggregate of 89.3 metres of 2.74 g/t gold and 3.0 g/t silver.

Drilling highlights: Section 22-5N (W) crosses the southern end of the newly defined West Atlanta Graben (WAG) target, which hosts a thick section of mineralized volcanic and volcaniclastic sediments down-dropped along the western flank of the West Atlanta Fault. Core hole AT22HG-8T extends known mineralization to depth and, together with nearby RC holes AT22SE-14 and 16, defines the location of a post-mineral fault (the South Fault) that displaced mineralization southwest of the Atlanta pit.

WAG mineralization along Section 22-5N (W) is 150 metres wide and ranges from 50 to 125 metres thick. Historical holes drilled by Gold Fields in 1990 on both sides of AT22HG-8T compare closely in grade and thickness to today’s hole, for example returning 2.79 g/t gold over 94.5 metres in ARC-5 and 2.11 g/t gold over 113.4 metres in ARC-1.

The southern end of the WAG is geologically complicated by the intersecting E-W and N-S fault patterns, which in itself may be responsible for the higher grades and thicker mineralization seen along section lines 22-5N through 22-7N. Both Kinross and Meadow Bay considered the South Fault to be a through-going structure terminating the southern end of the Atlanta resource zone. However, Nevada King’s 2021 and 2022 drilling south of the Atlanta pit clearly shows the Atlanta Mine Fault Zone cutting the South Fault and extending mineralization further south into the South Extension Target.

The company’s current interpretation of the fault pattern immediately south of Section 5N/5N(W) opens the door for additional targets within the massive quartzite ridge that abuts the southern rim of the pit. If mineralized, this ridge, which is currently categorized as strip material in the Gustavson resource model, could provide the Company with another game-changing event with respect to decreasing strip ratios and allowing for a deeper pit in potential mining scenarios.

Given the lack of depth penetration in AT22HG-9 and severe core loss within the mineralized zone in ARC-1 a 140-metre zone exists between AT22HG-13 (82.3m @ 3.60 g/t Au) and AT22HG-8T (89.3m @ 2.74 g/t Au). The company is drill testing this sizeable gap.

Cal Herron, Exploration Manager of Nevada King, stated, “With winter conditions now behind us, drilling progress within the West Atlanta Graben will accelerate. We will soon gain a much better understanding of the resource potential west of the West Atlanta Fault by testing a rectangular area measuring 300 metres wide and 500 metres long. In the process, additional narrow, fault-bounded grabens hosting anomalously high Au/Ag grades and thicknesses like that seen in AT22HG-13 will likely be found. Nevada King will continue to focus on defining these high-grade zones that can have significant economic impact on a bulk-tonnage gold system. The Atlanta Au/Ag system is turning out to be much larger than previously envisioned, and with improving weather conditions we are eager to ramp up drilling to continue unlocking the property’s potential.”

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 the 100% owned Atlanta Mine, located 100km southeast of Ely, the Lewis and Horse Mountain-Mill Creek projects, both located between Nevada Gold Mines’ large Phoenix and Pipeline mines, and the Iron Point project, located 35km east of Winnemucca, Nevada. The company is well funded with cash of approximately $7.25-million as of April 2023.