Nevada King Gold Corp. [NKG-TSXV; NKGFF-OTCQX] reported assay results from one vertical reverse circulation (RC) hole recently completed at its at its 5,166-hectare (51.6 km2), 100%-owned Atlanta gold mine project, located in the prolific Battle Mountain trend, 264 km northeast of Las Vegas, Nevada.
Highlights: AT23HG-21 plotted on section 22-5N(2) intercepted 70.1 metres of 3.18 g/t gold, including 15.2 metres of 6.63 g/t gold, and was collared 25 metres west of previously released AT22HG-13 which averaged 82.3 metres of 3.60 g/t gold, including 12.2 metres of 17.59 g/t gold.
These two holes add to the rapidly growing, high-grade, sub-horizontal silica replacement zone that developed within strongly decalcified dolomite and overlying volcanics along and adjacent to the northerly trending West Atlanta Fault (WAF). This “core” zone of higher grade mineralization ranges from 30 metres to 70 metres wide and 50 metres to 100 metres true vertical thickness and is currently identified in widely-spaced drill holes over a 400 metres north-south strike length. The company is actively tracking it northward along the WAF with a series of drill fences designed to fill a 200-metre gap in drill coverage between Section 22-8N and Section 22-15N.
Section 22-5N(2) is the longest drill section released to date by the company. Running 400 metres east-west, this section starts at the bottom of the East Ridge Target, completely crosses the Atlanta Mine Fault Zone (AMFZ) and then transits most of the West Atlanta Graben. The same structural and mineralization patterns are repeated along drill fences for at least 400 metres northward. Mineralization remains open at both ends of Section 22-5N(2) and the company will soon initiate drilling to track the mineralization hit in AT22-RC12 and RC13 eastward up into the East Ridge Target and westward from AT22HG-8T later this summer to test mineralization beyond the West Atlanta Graben’s western margin.
Looking immediately south of Section 22-5N(2) is the east-west trending South Fault, which previous explorers perceived to cut off mineralization at Atlanta. However, holes drilled by Nevada King indicate gold mineralization is in fact present south of the South Fault, which implies that the AMFZ could well extend further south into the South Extension Target.
If this area proves to host gold mineralization, a significant area currently categorized as strip material could instead contribute to a future resource, while opening up mineralization further south along the WAF in an area with no historical drilling. Given the strong mineralization seen along Section 22-5N(2) the company will now target the extension of this high-grade gold southward from this section.
Cal Herron, exploration manager, commented: “We continue to interserct higher-grade results as our drills step westward across the WAF from the AMFZ into the West Atlanta Graben. The WAF is a major control over gold/silver mineralization and proximity to this structure is the key to finding higher-grades within the adjacent AMFZ and West Atlanta Graben. The company will continue drilling more fences east-west across the WAF in order to expand the northerly-trending high-grade core zone and test the thick, volcanic-hosted mineralization occurring within the adjacent West Atlanta Graben. The company will also test for mineralization southward along the AMFZ, moving into an area with no historical drilling that is looking more like a major blue sky target at Atlanta.”
Nevada King is the third largest mineral claim holder in 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 approximately $10 million as of May 2023.