Highlights:
- Since inception of the Phase II Atlanta drill program in
June 2022 Nevada King has completed 372 holes totaling 69,683m, which include 354 reverse-circulation ("RC") holes totaling 67,760m and 18 core holes totaling 1,923m. Prior to initiating the Phase II program the Company completed 68 holes totaling 5,544m in its maiden Phase I program.
- To date, as part of its Phase II program, Nevada King has reported assays from 204 holes covering 35,915m with results from 168 drill holes totaling 33,768m currently pending.
- Four rigs continue to operate at
Atlanta . Drilling for 2023 will wrap up onDecember 17 th for the Christmas break and all four rigs are scheduled to recommence drilling the first week of January.
- Phase II drilling has led to the discovery of new zones of high-grade gold and silver mineralization both within and outside of the currently defined resource area including 11.64 g/t Au over 108.3m in AT23WS-44 and 6.55 g/t Au over 82.3m in AT23NS-133F (released
October 2, 2023 , andNovember 14, 2023 , respectively).
- A major focus of ongoing drilling is to follow up on elevated high-grade (>20 g/t Au) intercepts scattered throughout the deposit with the goal of further defining the spatial distribution of this exceptionally high-grade oxide mineralization for potential inclusion as discreet domains in upcoming resource modeling (see Figure 1).
- Drilling is also ongoing at the southern end of the
Atlanta resource zone following the blind discovery of thick, high-grade gold mineralization including 1.89 g/t Au over 114.3m and 2.15 g/t Au over 96.0m released onOctober 17, 2023 . Mineralization remains open southward along a major structural zone that has seen no historical drilling.
"In the process of drill-defining these higher grade feeder structures, several high-grade zones exceeding 21 g/t Au equivalent were encountered in multiple locations in the drilling (see Table 2). As shown in Figure 1, these elevated high-grade intercepts are scattered throughout the target resource area but tend to occur along or immediately adjacent to high-grade feeder faults. These holes tend to cluster along NW trends that may indicate very localized hydrothermal boiling within dilational zones that opened up at acute angles to the predominant northerly trending feeder-faults. Ongoing drilling will focus on close-spaced step-outs around these elevated high-grade intercepts with the objective of growing them into larger bodies that could be included as discreet high-grade zones in the upcoming resource model. In the process of doing so and based on our current interpretation we anticipate a strong likelihood of encountering additional high-grade "jewelry boxes" along and between the major fault strands."
Hole No | From (m) | To (m) | Interval (m) | Au Eq. (g/t) |
AT23WS-044 | 274.4 | 303.4 | 29.0 | 37.71 |
AT23NS-133F+ | 187.5 | 195.1 | 7.6 | 33.72 |
AT22HG-13 | 167.7 | 172.3 | 4.6 | 33.25 |
AT23HG-37 | 224.1 | 227.1 | 3.0 | 34.13 |
AT23HG-18 | 262.2 | 265.2 | 3.0 | 33.33 |
AT23WS-22 | 292.7 | 300.3 | 7.6 | 28.81 |
88-09 | 161.6 | 173.8 | 12.2 | 33.87 |
AC-01 | 149.5 | 153.7 | 4.1 | 32.09 |
88-14 | 158.5 | 161.6 | 3.0 | 36.15 |
KR97-01+ | 196.6 | 201.2 | 4.6 | 22.15 |
Table 2. List of Nevada King and historical drill holes reporting minimum 3m thick intercepts exceeding 21 g/t Au equivalent based on a |
All RC samples from the
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 2. NI 43-101 Mineral Resources at the |
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, 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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