Nevada King Gold extends Silver Peak East mineralization 150 metres, Nevada
Nevada King Gold Corp. [TSXV: NKG; OTCQB: NKGFF] reported results for the remaining 10 holes at its Silver Park East target from the Phase III drill program. Silver Park East (SPE) is located 2km west of the Atlanta Resource Zone (ARZ), within the company’s 13,000 hectare (130km2), 100%-owned Atlanta Gold Mine Project, located in the prolific Battle Mountain Trend 264km northeast of Las Vegas, Nevada.
Silver Park East Highlights: Drill results released today confirm gold and silver mineralization over a 450m by 300m footprint, with a strike extension of 150m, and clear expansion potential demonstrated by an untested 270-metre gap to the southeast. Continuity and scale of mineralization suggest SPE may represent a new satellite oxide gold and silver zone.
Notable intervals from reconnaissance drilling at SPE include 0.25 g/t AuEq over 70.1 metres in AT25SP-41 and 0.30 g/t AuEq over 41.1 metres in AT25SP-37. Hole AT25SP-36 intercepted 1.60 g/t AuEq over 4.6 metres which is part of an 86.8-metre interval consisting of three separate mineralized horizons starting at 35m depth that taken together average 0.53 g/t AuEq over 22.9 metres.
Mineralization at SPE remains open to expansion to the east and to the south and is hosted within the same dolomite host rocks at the unconformity and shows the same geochemical signatures as the ARZ, indicating a shared mineralizing system.
Follow up drilling will test the undrilled 270-metre gap between holes AT25SP-33 and AT25SP-41 in an effort to expand the mineralized envelope to the southeast. It will target structurally enhanced zones within this envelope, such as 0.84 g/t AuEq over 7.6 metres in AT25SP-35, in order to identify cross-cutting fault intersections and fluid pathways similar to those that define high-grade domains at the ARZ and improve overall grade distribution.
Justin Daley, VP Exploration of Nevada King, stated, “The objective of the Phase III regional exploration program was to identify additional oxide gold zones beyond the ARZ. Despite the post-mineral cover across the area, the potential at Silver Park East is now clear, with low grade oxide gold and silver consistently found at the unconformity over a wide area, and gold vectors bringing an emerging model for the source of those mineralizing fluids into sharper focus.
“Drilling at the ARZ, which we now strongly believe is the same mineralizing event as SPE, has demonstrated that the highest gold grades occur at the intersection of these structural corridors where hydrothermal activity was strongest. Our task now is to map those key fluid pathways and test the intersections at SPE and elsewhere within the district, where we believe the best grades remain to be found, guided by trace element vectors and newly identified hyperspectral alteration zones.”
The company has now completed 28,000 metres of the planned 30,000-metre Phase III regional exploration program. Assays for 7,815 metres are pending release and assay.
Nevada King is focused on advancing and growing its 100%-owned, past producing, 130km2 Atlanta Gold Mine project located along the Battle Mountain trend in southeast Nevada. The project hosts an NI 43-101 compliant pit-constrained oxide resource of 1,020koz Au in the measured and indicated category (27.7M tonnes at 1.14 g/t) plus an inferred resource of 99koz Au (3.6M tonnes at 0.84 g/t).