Nevada King Gold drills 2.37 g/t gold over 74.7 metres at Atlanta mine, Nevada

Nevada King Gold Corp. [TSXV-NKG; OTCQX-NKGFF] reported assay results from three vertical 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. The three holes reported today tested gaps within the existing drill pattern across the 80-metre-wide northerly trending Atlanta Mine Fault Zone (AMFZ) between the East Atlanta Fault (EAF) and the West Atlanta Fault (WAF).

Highlights include Hole AT23NS-124 that returned 74.7 metres of 2.37 g/t gold and 43.9 g/t silver. AT23NS-120 returned 38.1 metres of 1.14 g/t gold and 43.4 g/t silver. AT23NS-129 returned 33.5 metres of 1.14 g/t gold and 312.4 g/t silver.

All holes reported today along Section 22-10N(3). Mineralization occurs along sub-horizontal horizons generally dipping gently westward; true mineralized thickness in vertical holes is estimated to be between 85% and 95% of reported vertical drill intercept length.

The 2.37 g/t gold assay over 74.7 metres in AT23NS-124 starts at a depth of just 12 metres beneath the pit floor and was sited to test for a northward extension of higher-grade and thicker mineralization hosted within a 20-metre-wide fault block, termed the “East High-Grade Zone” that runs along the western side of the EAF and floors the bottom of the Atlanta Pit.

The East High-Grade Zone had previously been intercepted in holes drilled south of Section 22-10N(3) and today’s intercept successfully extends this zone 30m northward, injecting higher-grade and thicker mineralization into this area of the AMFZ.

Since historical explorers did not conduct drilling from within the Atlanta pit, the East High-Grade Zone was not discovered until Nevada King’s 2021 drilling campaign that intercepted high-grade oxide mineralization starting at surface from the bottom of the pit, including 5.34 g/t Au over 54.9m and 3.35 g/t Au over 64.1m (released January 12, 2022 , and January 20, 2022 , respectively).

Cal Herron, Exploration Manager of Nevada King, commented, “The three holes released today along Section 22-10N(3) provide further support for the current infill drilling program along the AMFZ, the purpose being to better define the grade and geometry of mineralization. With the areal extent of mineralization along the AMFZ now fairly well defined, our current focus is on boosting the average grade by drilling in closer to the high-angle feeder faults responsible for both higher grade and thicker mineralization. Today’s 75m thick intercept averaging 2.37 g/t Au in AT23NS-124 is the thickest intercept recorded to date along the East High-Grade Zone.”

The company also granted 300,000 stock options to a director of the company with each stock option exercisable at a price of $0.50 into a common share of thecCompany for five years.

Nevada King is the third largest mineral claim holder in the State of Nevada, behind Nevada Gold Mines (Barrick/Newmont) and Kinross Gold. 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 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).