- On
November 1, 2022 , the Company announced a 20% expansion to its Atlanta Mine Phase II drill program, from the originally planned 13,100m (100 holes) to 16,000m of combined core and reverse-circulation ("RC") drilling. - Drilling productivity has exceeded expectations with the Company having now completed 16,450m (138 holes).
- Based on assay results received to date, drill hole logging and ongoing geological interpretation based on this work, target areas at
Atlanta continue to grow and the Company has decided to again expand the Phase II program another 25% to 20,000m, and to extend the program into the winter months. - A track-mounted RC drill capable of accessing and drilling in harder to reach areas is being added to the program, with this rig scheduled to arrive on site within the next two weeks. Utilizing equipment already on-site, including the recent addition of water tank heaters, infrastructure is now in place to keep the drill program running into the winter months, with at least two rigs active.
- To date, the Company has reported assays from 2,455m of drilling, while assay results from 13,995m of drilling are currently pending.
Exploration Manager
- The Company reported initial assay results on
September 13, 2022 andOctober 18, 2022 . The results included high-grade oxide-hosted intervals of 120.4m of 1.49 g/t Au and 57.9m of 1.38 g/t Au, located south and southeast of theAtlanta pit, and 54.9m of 3.41 g/t Au, 50.3m of 2.65 g/t Au, and 51.8m of 2.23 g/t Au, starting from surface at the bottom of theAtlanta pit. - Drilling continues to target high-grade gold mineralization along the
Atlanta Mine Fault Zone ("AMFZ"), westward and southwestward from last year's drilling. Assays from these target areas returned high-grade intercepts including 41.2m of 3.94 g/t Au, 64m of 3.35 g/t Au, and 54.9m of 5.34 g/t Au, also starting at surface from within theAtlanta pit (seeJanuary 20, 2022 , news release).
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
NI 43-101 Pit-Constrained Mineral Resources at the
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, 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.
SOURCE
© Canada Newswire, source