- The Company completed eighteen reverse circulation ("RC") holes totaling 3,228m (Figure 1) to an average depth of 180m. The program was completed on
November 13, 2022 , with the onset of winter weather impeding further progress. - Nine holes were completed in the Record Target, a high-priority, shallow target historically defined by a strong surface gold signature and long, low grade drill intercepts. This target was not drilled during the 2021 Phase I program due to adverse winter weather.
- Six drill holes were completed in the Upper
Rocky Canyon Target area where widely-spaced historical holes indicated shallow, strongly anomalous gold mineralization. The Company was also unable to drill this target in 2021 due to adverse weather. One of the 2022 holes was sited to test a high-priority anomaly in the gap between the Upper Rocky andCelestine O'Neal targets identified in the recently completed Induced Polarization ("IP") survey. - Two holes were drilled in the Celestine O'Neal Target area and serve as 50m and 90m step-outs from 2021 drillhole LS21-008, which intercepted 9.1m grading 1.79 g/t Au from 76.2-85.4m, with values up to 3.34 g/t Au, and 13.7m grading 2.50 g/t Au from 154.0-167.7m, including 1.5m grading 15.73 g/t Au from 163.1-164.6m.
- One additional hole was completed approximately 450m north of the Celestine O'Neal Target to test another high-priority IP anomaly within an area devoid of historical drilling.
All sampling was conducted under supervision of the Company's project geologists. Chain of custody is maintained from the Project area to the ALS Global (ALS) laboratory in
The scientific and technical information in this news release has been reviewed and approved by
Nevada King is the third largest mineral claim holder in the
The Company is well funded with cash of approximately
Resource Category | Tonnes (000's) | (ppm) | Contained (000's) | (ppm) | Contained (000's) |
Measured | 4,130 | 1.51 | 200 | 14.0 | 1,860 |
Indicated | 6,910 | 1.17 | 260 | 10.6 | 2,360 |
Measured + Indicated | 11,000 | 1.30 | 460 | 11.9 | 4,220 |
Inferred | 5,310 | 0.83 | 142 | 7.3 | 1,240 |
Please see the Company's website at www.nevadaking.ca.
Neither the
This news release contains certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating the future operations and activities of Nevada King, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements in this news release relate to, among other things, the Company's exploration plans and the Company's ability to potentially expand mineral resources and the impact thereon. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by Nevada King, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the ability to complete proposed exploration work given the global COVID-19 pandemic, the results of exploration, continued availability of capital, and changes in general economic, market and business conditions. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. Nevada King does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.
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