- Phase I testing used three surface bulk samples and 19 composites from drill core comprising the full range of rock types and gold and silver grades encountered across
Atlanta . Mineralization atAtlanta can be broadly characterized by two major host domains: 1) Silicified breccias found within and below the mainAtlanta unconformity, and 2) Volcanics found above the mainAtlanta unconformity (refer to cross sections A-A and B-B in Figures 3-4 below). - Results of Phase I support conventional Nevada oxide processing methods for
Atlanta whereby:- Silicified breccias are amenable to conventional milling for high-grade material and High-Pressure Grinding Roll ("HPGR") crushing and heap leaching for the lower-grade material.
- Volcanics are amenable to conventional milling for high-grade material and Conventional Crush or Run-of-Mine ("ROM") heap leaching for the lower-grade material.
- Silicified breccias are amenable to conventional milling for high-grade material and High-Pressure Grinding Roll ("HPGR") crushing and heap leaching for the lower-grade material.
- Applicable to process plant scenarios, gold extraction from fine milling at a 200-mesh grind (P80=75µm) show a weighted average extraction of 91.7% for gold hosted in volcanics and 85.9% for the high-grade silica breccias.
- Silver extraction from fine milling at a 200-mesh grind (P80=75µm) show a weighted average 65.3% in the volcanics and 41.3% in the silica breccias. At coarser crush size silver extractions are similar between the two metallurgical domains.
- Applicable to heap leach scenarios, gold extraction from conventional crushing (P80=12.5 mm) shows a weighted average extraction of 87.1% for gold hosted in volcanics. Gold extraction from HPGR crushed composites (using medium press force) shows a weighted average 71.4% extraction from low-grade silica breccias.
- A Phase 2 metallurgical PQ core drilling program has now been completed to fill some gaps in the target resource envelope and further laboratory testing utilizing material from this drilling is scheduled to start later in 2024. The location of these holes can be found in the drill hole plan map below in Figure 2.
Bulk Sample and Phase 1 metallurgical test work at
"Today's results confirm that conventional oxide milling, and HPGR crush heap-leach or ROM heap-leach, depending on mineralization type, are well suited for processing gold and silver mineralization at
A breakout of the materials tested above and below the
Silicified breccias, below the unconformity, are hard and abrasive rocks and have a high degree of sensitivity to process feed particle size.
Victory Metals, Inc. (Nevada King Gold Corp. ) NI 43-101 Technical Report on theAtlanta Project datedDecember 22, 2020 , reported historicAtlanta mill recoveries, for the years 1979-85 at 81% for Au and 42% for Ag, at operating ball mill grind P80 = 120µm (microns).- Silicified breccias are amenable to High Pressure Grinding Roll (HPGR) comminution, where high-grade would report to a mill and lower-grade to heap leaching. The determination between higher-grade and lower-grade material will be dependent upon future economic analysis.
- Of significant note is that as the silica breccia gold grade decreases (<1.7 ppm Au), gold extraction increases at coarser P80 particle size, as shown in Table 1. Thus, reinforcing the benefit of milling higher grade and HPGR crush-heap leaching of the lower grade resources.
- Volcanics, above the unconformity, are relatively insensitive to process feed particle size and can be characterized as equal or similar to central Nevada commercial heap leach operations.
- Volcanics are amenable to conventional milling, conventional crush heap leaching and/or ROM heap leaching.
Gold extraction from fine milling at a 200 mesh grind (P80=75µm) show a weighted average:
- 91.7% extraction in the volcanics
- 87.5 % extraction in the low-grade silica breccias
- 85.9% extraction in the high-grade silica breccias
Gold extraction from conventional crushing (P80=12.5 mm) show a weighted average:
- 87.1% extraction from volcanics
- 62.1% extraction from low-grade silica breccias
- 37.0% extraction from high grade silica breccias
Gold extraction from HPGR crushed composites show a weighted average:
- 81.9% extraction from volcanics (only four of the nine volcanic composites were tested using HPGR as the remaining five composites contained elevated levels fines and are not suitable for HPGR processing)
- 71.4% extraction from low-grade silica breccias (<1.7 ppm Au)
- 50.4% extraction from high-grade silica breccias
Gold Met Balances | ||||||||||||||||||
KCA | Comp ID | Unconf*1 | Atlanta Geology | 37µm BR | 75µm BR | 1,700µm BR | 12.5mm Column | 25.0mm Column | HPGR Column | |||||||||
Formation | Subunit | Au Ext | Calc Hd |
| Calc Hd |
| Calc Hd | Au Et | Calc Hd |
| Calc Hd |
| Calc Hd | |||||
96607 A | ATV-3 | Above | VolInt | Qtz latite porph, Int. | 83.4 | 1.820 | 86.5 | 1.823 | 64.6 | 1.941 | 70.3 | 1.874 | 75.5 | 1.979 | ||||
96609 A | ATV-5 | Above | Tww | Volc. Ss | 93.3 | 0.312 | 88.9 | 0.126 | 67.4 | 0.141 | 72.1 | 0.140 | ||||||
96616 A | ATV-12 | Above | Tww | Dacite tuff | 92.8 | 0.500 | 96.2 | 0.521 | 78.4 | 0.509 | 84.7 | 0.476 | 87.8 | 0.500 | ||||
96617 A | ATV-13 | Above | Tww | Dacite tuff | 80.4 | 1.539 | 84.8 | 1.498 | 77.6 | 1.462 | 81.5 | 1.865 | ||||||
96619 A | ATV-15 | Above | VolInt | Tuff dike bxa | 90.0 | 6.363 | 92.0 | 6.793 | 82.0 | 6.927 | 82.4 | 7.165 | ||||||
96620 A | ATV-16 | Above | VolInt | Qtz latite porph, Int. | 90.7 | 0.529 | 90.7 | 0.593 | 86.6 | 0.610 | 88.8 | 0.633 | ||||||
96621 A | ATV-17 | Above | SBX-2 | hydro-breccia | 83.9 | 1.214 | 88.6 | 1.324 | 73.3 | 1.209 | 76.1 | 1.403 | 81.7 | 1.440 | ||||
96622 A | ATV-18 | Above | VolInt | Qtz latite porph, Int. | 86.7 | 1.531 | 88.0 | 1.639 | 81.8 | 1.566 | 86.3 | 1.666 | 88.0 | 1.615 | ||||
96623 A | ATV-19 | Above | BXZ | Dolomite | 97.1 | 7.951 | 95.4 | 7.174 | 91.8 | 7.842 | 93.0 | 8.250 | ||||||
Wt Average | 90.9 | 2.418 | 91.7 | 2.388 | 83.1 | 2.467 | 87.1 | 2.384 | 82.0 | 3.057 | 81.9 | 1.384 | ||||||
96612 A | ATV-8 | Below | Oes | Dolomite | 78.5 | 0.237 | 82.4 | 0.289 | 50.8 | 0.299 | 44.0 | 0.218 | ||||||
96610 A | ATV-6 | Below | VolInt | tuff dike bxa | 94.9 | 0.375 | 94.3 | 0.348 | 64.0 | 0.336 | 44.6 | 0.249 | 60.6 | 0.277 | ||||
96614 A | ATV-10 | Below | SBX | Wk Si Dolomite | 77.5 | 0.244 | 83.2 | 0.333 | 68.9 | 0.360 | 57.1 | 0.331 | 66.4 | 0.277 | ||||
96601 B | ABS#1 | Below | Ol | Silicified Dolomite | 80.3 | 0.340 | 76.6 | 0.337 | 55.8 | 0.344 | 52.1 | 0.349 | 62.9 | 0.375 | ||||
96615 A | ATV-11 | Below | SBX | SBX | 87.0 | 0.575 | 87.7 | 0.570 | 61.9 | 0.559 | 48.4 | 0.531 | 62.4 | 0.558 | ||||
96605 A | ATV-1 | Below | VolInt | Qtz latite porph, Int. | 85.8 | 1.166 | 86.4 | 1.157 | 53.8 | 1.131 | 46.2 | 1.147 | 60.7 | 1.121 | ||||
96603 B | ABS#3 | Below | SBX | SBX | 91.4 | 1.549 | 88.5 | 1.465 | 80.6 | 1.692 | 82.6 | 1.422 | 84.1 | 1.624 | ||||
96602 B | ABS#2 | Below | SBX | SBX | 92.1 | 1.539 | 90.2 | 1.442 | 74.5 | 1.599 | 65.1 | 1.550 | 74.1 | 1.594 | ||||
Wt Average (<1.7 ppm Au) | 88.6 | 0.753 | 87.5 | 0.743 | 68.3 | 0.790 | 61.2 | 0.725 | 71.4 | 0.832 | ||||||||
96613 A | ATV-9 | Below | SBX | SBX | 91.0 | 2.344 | 90.0 | 2.412 | 53.3 | 2.617 | 39.9 | 2.534 | 53.1 | 2.643 | ||||
96618 A | ATV-14 | VolInt | Silicified Ryolite Int. | 85.0 | 2.462 | 80.6 | 2.248 | 45.9 | 1.967 | 46.8 | 1.992 | 54.9 | 1.958 | |||||
96611 A | ATV-7 | Below | SBX | SBX | 93.5 | 2.487 | 93.5 | 2.253 | 52.8 | 2.321 | 35.2 | 2.306 | 53.8 | 2.278 | ||||
96608 A | ATV-4 | Below | SBX | SBX | 90.6 | 4.742 | 80.5 | 5.117 | 47.8 | 5.009 | 32.8 | 5.400 | 40.9 | 6.452 | ||||
96606 A | ATV-2 | Below | BXZ | volc tuff bxa | 94.1 | 6.166 | 88.1 | 5.961 | 66.8 | 6.150 | 56.3 | 6.304 | ||||||
Wt Average (>1.7 ppm Au) | 91.5 | 3.640 | 85.9 | 3.598 | 55.5 | 3.613 | 37.0 | 3.058 | 50.4 | 3.927 | ||||||||
*1 - | Unconformity - Below: Gold Extraction % is highly senstivity to feed particle size, Unconformity - Above: Gold Extraction % has low sensitivity to feed particle size. | |||||||||||||||||
Table 1. Gold Metallurgical Results, Bottle Roll & Column Leach Tests |
Silver Met Balances*2 | ||||||||||||||||||
KCA | Comp ID | Unconf*2 Abv/Below | Atlanta Geology | 37µm BR | 75µm BR | 1,700µm BR | 12.5mm Columns | 25mm Columns | HPGR Columns | |||||||||
Formation | Subunit | Ag Ext | Calc Hd | Ag Ext | Calc Hd |
| Calc Hd |
| Calc Hd | Ag Ext | Calc Hd | Ag Ext | Calc Hd | |||||
96607 A | ATV-3 | Above | VolInt | Qtz latite porph, Int. | 43.2 | 2.5 | 24.3 | 4.6 | 13.1 | 4.9 | 12.4 | 4.0 | 13.7 | 5.2 | ||||
96609 A | ATV-5 | Above | Tww | Volc. Ss | 55.7 | 2.0 | 22.3 | 3.8 | 8.2 | 3.8 | 9.4 | 3.07 | ||||||
96616 A | ATV-12 | Above | Tww | Dacite tuff | 36.0 | 0.4 | 8.0 | 1.5 | 8.5 | 0.9 | 11.6 | 0.9 | 8.9 | 0.8 | ||||
96617 A | ATV-13 | Above | Tww | Dacite tuff | 77.9 | 1.1 | 37.2 | 2.3 | 47.1 | 1.5 | 60.6 | 0.99 | ||||||
96619 A | ATV-15 | Above | VolInt | Tuff dike bxa | 83.2 | 69.1 | 82.3 | 63.1 | 38.4 | 66.6 | 30.8 | 65.04 | ||||||
96620 A | ATV-16 | Above | VolInt | Qtz latite porph, Int. | 20.4 | 3.4 | 14.9 | 3.9 | 7.4 | 3.1 | 6.6 | 3.7 | ||||||
96621 A | ATV-17 | Above | SBX-2 | hydro-breccia | 61.1 | 36.2 | 64.6 | 38.6 | 33.4 | 38.2 | 29.1 | 46.6 | 37.6 | 35.8 | ||||
96622 A | ATV-18 | Above | VolInt | Qtz latite porph, Int. | 44.4 | 1.4 | 34.0 | 2.1 | 44.4 | 1.2 | 27.2 | 1.8 | 23.8 | 1.9 | ||||
96623 A | ATV-19 | Above | BXZ | Dolomite | 52.6 | 32.0 | 56.9 | 33.9 | 35.6 | 31.4 | 45.4 | 45.0 | ||||||
Wt Average | 68.1 | 16.5 | 65.3 | 17.1 | 34.3 | 16.9 | 34.7 | 17.0 | 30.3 | 23.033 | 33.6 | 10.9 | ||||||
96612 A | ATV-8 | Below | Oes | Dolomite | 40.0 | 1.0 | 20.2 | 1.8 | 5.7 | 2.3 | 8.8 | 1.0 | ||||||
96618 A | ATV-14 | VolInt | Silicified Ryolite Int. | 83.5 | 1.7 | 49.7 | 2.5 | 43.9 | 1.7 | 35.9 | 1.7 | 38.8 | 2.4 | |||||
96605 A | ATV-1 | Below | VolInt | Qtz latite porph, Int. | 64.1 | 2.5 | 34.4 | 4.0 | 18.4 | 4.1 | 16.1 | 3.6 | 24.5 | 3.3 | ||||
96610 A | ATV-6 | Below | VolInt | tuff dike bxa | 70.1 | 3.0 | 39.8 | 4.3 | 29.0 | 5.0 | 25.5 | 4.0 | 27.6 | 4.5 | ||||
96614 A | ATV-10 | Below | SBX | Wk Si Dolomite | 55.4 | 2.5 | 22.4 | 5.1 | 10.3 | 5.5 | 4.7 | 5.7 | 7.7 | 5.9 | ||||
96602 B | ABS#2 | Below | SBX | SBX | 56.8 | 15.9 | 54.4 | 15.2 | 52.8 | 13.3 | 29.7 | 12.7 | 34.2 | 14.0 | ||||
96606 A | ATV-2 | Below | BXZ | volc tuff bxa | 55.1 | 10.8 | 24.9 | 18.5 | 16.5 | 15.8 | 9.4 | 16.8 | ||||||
96608 A | ATV-4 | Below | SBX | SBX | 53.7 | 12.8 | 21.6 | 23.0 | 8.7 | 19.0 | 3.2 | 21.3 | 7.1 | 22.7 | ||||
96615 A | ATV-11 | Below | SBX | SBX | 78.8 | 25.7 | 62.0 | 34.7 | 46.3 | 32.9 | 29.0 | 30.4 | 42.8 | 30.4 | ||||
96611 A | ATV-7 | Below | SBX | SBX | 57.8 | 21.5 | 35.6 | 33.2 | 24.9 | 27.6 | 28.1 | 37.5 | 31.7 | 37.9 | ||||
96613 A | ATV-9 | Below | SBX | SBX | 73.9 | 35.6 | 56.5 | 47.7 | 64.7 | 42.3 | 53.2 | 47.7 | 61.6 | 50.7 | ||||
96601 B | ABS#1 | Below | Ol | Silicified Dolomite | 23.8 | 65.2 | 23.5 | 62.6 | 9.6 | 51.5 | 3.5 | 63.9 | 8.5 | 62.7 | ||||
96603 B | ABS#3 | Below | SBX | SBX | 43.2 | 134.9 | 46.0 | 119.7 | 31.5 | 132.2 | 22.1 | 122.6 | 28.5 | 132.0 | ||||
Wt Average | 48.5 | 25.6 | 41.3 | 28.7 | 31.4 | 27.2 | 22.4 | 28.4 | 29.8 | 33.3 | ||||||||
*2 - | Silver grades are lower and extractions are higher in resources above the unconformity. | |||||||||||||||||
Table 2. Silver Metallurgical Results, Bottle Roll & Column Leach Tests | ||||||||||||||||||
All PQ-diameter core for the Phase 1 testing program was ¼ cut with a diamond saw, with the ¼ sample being sent to
The geological 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) | (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 3. NI 43-101 Mineral Resources at the | |||||
Please see the Company's website at www.nevadaking.ca.
Neither the
Cautionary Statements Regarding Forward Looking Information
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, statements regarding extraction results from the Phase I program and the effect thereof, laboratory testing of material from the Company's Phase 2 metallurgical PQ core drilling program, and the effect of extraction results thereof. 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. There is no certainty, and the Company cannot provide assurance, that the results of the Phase I program will be realized in part or at all. The findings will require further assessment and analysis, including additional met core variability testing, comminution and environmental characterization and design engineering studies. 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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