Highlights:
Hole No. | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) | Zone |
AT23WS-47 | 219.5 | 332.3 | 112.8 | 0.58 | 3.2 | WAGZ |
AT23WS-48 | 207.3 | 346.0 | 138.7 | 0.32 | 5.3 | WAGZ |
AT23HG-38 | 214.9 | 329.3 | 114.3 | 1.43 | 16.5 | WAGZ |
AT23NS-131C* | 132.6 | 172.3 | 39.6 | 4.91 | 41.4 | AMFZ |
AT23NS-133A* | 99.1 | 123.5 | 24.4 | 2.33 | 24.6 | AMFZ |
AT23NS-133B* | 99.1 | 120.4 | 21.3 | 2.99 | 22.8 | AMFZ |
AT23NS-133D* | 73.2 | 97.6 | 24.4 | 2.25 | 23.3 | AMFZ |
Table 1. Holes released today. Mineralization occurs along near-horizontal horizons with true mineralized thickness in |
- AT23NS-131C intercepted high-grade gold/silver mineralization along the
Atlanta Mine Fault Zone ("AMFZ") at the southwest end of the historical pit with 4.91 g/t Au over 39.6m. Nearby angle holes AT23-NS133A, B, and D, also targeted this gap in drilling and together with AT23NS-131C demonstrate good lateral continuity of mineralization, with grades ranging from 2.25 g/t Au to 4.91 g/t Au and 23.3 g/t Ag to 41.4 g/t Ag, and true thicknesses ranging from 20m to 34m. - AT23WS-47, AT23WS-48, and AT23HG-38 were collared evenly across the 150m-wide West Atlanta Graben Zone ("WAGZ") to fill in gaps in the drill pattern as well as to check previous holes that had not fully penetrated the mineralized zone. AT23HG-38 fully penetrated the mineralized zone and returned 114.3m grading 1.43 g/t Au, while a previously released nearby hole AT23HG-5 bottomed in mineralization and returned 93m grading 1.14 g/t. This deeper drilling in AT23HG-38 reveals significantly stronger grade and thickness compared to the earlier drilling.
- A very similar relationship is seen between previously released AT23WS-36 (93m @ 0.54 g/t Au from 242m to 335m) and historical hole AR-21 (64m @ 0.39 g/t Au from 241m to 305m), as shown in Figure 2 below. Here again, deeper drilling intersected thicker and higher grade material.
- AT23WS-48 was collared on the east side of the West Atlanta Fault #2 ("WAF2"), which bounds the western side of the WAGZ, and intercepted 138.7m of 0.32 g/t Au. Two historic holes that were collared nearby intersected the mineralized bed approximately 15-20m further west and closer to the WAF2, returning higher grades including 0.82 g/t Au over 76.2m in AR-19 and 1.11 g/t Au over 68m in
DHRI -11-6C. These results further demonstrate that higher-grade mineralization occurs proximate to high-angle faults such as the WAF2. Additional drilling is required west of the WAF2, where mineralization remains open.
"Nevada King's recognition of multiple high-angle, high-grade feeder structures in early 2022 resulted in an evolving structural model that has since guided the Company's drilling efforts. As a result of our drilling, our understanding of the overall distribution of +0.30 g/t Au mineralization has greatly improved and as a result, we are better able to define the location and attitude of the high-grade feeder-faults that are critical for potentially increasing precious metal grade and tonnage. The efficacy of this model is evident in today's results along Section 23-7N(3), a 400m-wide cross section that now shows thorough drill definition across both the AMFZ and WAGZ, identifying the location of higher grade core zones and fault displacements of mineralization, while also fully penetrating the mineralized horizons to provide a fuller picture of this portion of the
Hole No. | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) |
AT23WS-36 | 242.4 | 335.4 | 93.0 | 0.536 | 7.6 |
AT22HG-6 | 189.0 | 256.1 | 67.1 | 1.34 | 6.4 |
AT23HG-23 | 227.1 | 317.1 | 89.9 | 0.57 | 11.5 |
AT23NS-125* | 74.7 | 109.8 | 35.1 | 1.26 | 31.9 |
AT22HG-5 | 186.0 | 279.0 | 93.0 | 1.14 | 2.1 |
AT22HG-3T | 170.4 | 285.4 | 93.6 | 2.18 | 17.1 |
AT22HG-4 | 175.3 | 240.9 | 41.2 | 1.92 | 22.7 |
AT22NS-68 | 134.1 | 163.1 | 29.0 | 4.03 | 21.2 |
AT22NS-54 | 170.7 | 216.5 | 45.7 | 4.21 | 79.6 |
AT22NS-56A | 93.0 | 106.7 | 13.7 | 1.88 | 38.5 |
AT22NS-76 | 70.1 | 100.6 | 30.5 | 2.39 | 41.5 |
AT22NS-73 | 22.9 | 103.7 | 80.8 | 2.31 | 47.4 |
AT21-68C+ | 99.1 | 120.3 | 21.2 | 3.28 | 34.4 |
Table 2. Previously reported holes used along updated Section 22-7N(3). AT22 series holes were drilled by Nevada King in |
Hole No. | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) |
AR-21 | 240.8 | 304.8 | 64 | 0.39 | 4.21 |
AR-19 | 228.6 | 304.8 | 76.2 | 0.82 | 3.52 |
227.1 | 295.1 | 68 | 1.11 | 15.72 | |
74.7 | 97.5 | 22.8 | 1.9 | 19.72 |
Table 3. Historical holes used in updated Section 22-7N(3). AR series holes were drilled by Goldfields in 1991. |
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Qualified Person
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
Resource Category | Tonnes (000s) | Au (ppm) | Contained Au | (ppm) | Contained Ag |
Measured | 4,130 | 1.51 | 200,000 | 14.0 | 1,860,000 |
Indicated | 6,910 | 1.17 | 260,000 | 10.6 | 2,360,000 |
Measured + Indicated | 11,000 | 1.30 | 460,000 | 11.9 | 4,220,000 |
Inferred | 5,310 | 0.83 | 142,000 | 7.3 | 1,240,000 |
Table 4. NI 43-101 Mineral Resources at the |
Please see the Company's website at www.nevadaking.ca.
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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, 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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