Hole No. | From (m) | To (m) | Interval (m) | Ag (g/t) | From (m) | To (m) | Interval (m) | Au (g/t) |
Significant Silver Assays | Associated Gold Assays | |||||||
AT21-14 | 0 | 25.9 | 24.4* | 36.3 | 0 | 24.4 | 24.4 | 0.35 |
Including | 15.2 | 24.4 | 7.6* | 59.4 | ||||
AT21-15 | 24.4 | 53.3 | 22.9* | 32.3 | 24.4 | 42.7 | 9 | 0.67 |
Including | 25.9 | 29.0 | 3.05 | 82.2 | ||||
And Including | 45.7 | 50.3 | 4.6 | 54.7 | ||||
AT21-18A | 0 | 50.3 | 45.7* | 55.5 | 16.8 | 42.7 | 29 | 1.10 |
Including | 4.6 | 42.7 | 38.1 | 65.8 | ||||
Including | 13.7 | 38.1 | 24.4 | 86.9 | ||||
AT21-41A | 33.5 | 62.5 | 29.0 | 27.3 | 38.1 | 61.0 | 22.9 | 2.17 |
Including | 42.7 | 54.9 | 12.2 | 52.9 | ||||
AT21-50 | 48.8 | 79.2 | 30.5 | 54.1 | 48.8 | 79.3 | 30.5 | 1.39 |
Including | 53.3 | 73.2 | 19.8 | 75.3 | ||||
AT21-62 | 9.1 | 68.6 | 59.4 | 27.3 | 9.1 | 64.0 | 54.9 | 5.34 |
Including | 15.2 | 18.3 | 3.0 | 33.1 | 30.5 | 41.2 | 10.7 | 11.19 |
And Including | 22.9 | 25.9 | 3.0 | 48.4 | ||||
And Including | 44.2 | 61.0 | 16.8 | 49.6 | ||||
AT21-63 | 0 | 48.8 | 47.2* | 23.9 | 7.6 | 48.8 | 41.2 | 3.94 |
Including | 15.2 | 48.8 | 33.5 | 30.5 | 38.1 | 47.3 | 9.1 | 9.23 |
AT21-64 | 0 | 67.1 | 67.1 | 27.0 | 3.0 | 67.1 | 64.1 | 3.35 |
AT21-65 | 0 | 53.3 | 53.3 | 35.7 | 3.0 | 51.8 | 48.8 | 2.32 |
Including | 6.1 | 39.6 | 33.5 | 50.0 | ||||
AT21-66 | 1.5 | 57.9 | 56.3 | 32.2 | 3.0 | 57.9 | 54.9 | 2.62 |
Including | 39.6 | 56.4 | 16.8 | 55.1 | 51.8 | 54.9 | 3 | 13.35 |
Table 1: Highlight intervals of silver assays released today from 2021 drill holes. Utilizing a 5 g/t Ag cutoff, the assay |
Atlanta historically produced approximately 110,000 ounces of gold and 800,000 ounces of silver from 1,500,000 tons between 1975 and 19851 with a recoverable silver grade of about 17 g/t. Geologically, most of the higher grade portions of silver were mined around the East Atlanta Fault and immediately to the east of this fault.- Almost all of Nevada King's 2021 holes were drilled east of the East Atlanta Fault within lower grade extensions of the historically mined deposit and also peripheral to the Gustavson 2020 resource model. The 31 holes listed in Table 2 and shown in Figure 1 were drilled immediately adjacent to the mined-out area, and an overall average of the entire mineralized hole lengths yields 21 g/t Ag based on length-weighted averaging according to the formula: average Ag grade = (SUM (intercept average x intercept length))/total intercept length of the 31 holes. Because this average is not based on a block calculation the Company can use the information only qualitatively for a general idea of silver grade within the silica breccia horizon east of the
Atlanta Mine Fault Zone ("AMFZ"). - While initial 2021 Nevada King drilling was designed to investigate potential for an eastward extension of the Gustavson 2020 pit-constrained gold resource, the discovery of high-grade gold hits in holes AT21-062 through AT21-065 at the bottom of the pit in late 2021 re-focused the Company's attention further westward on the AMFZ going into the 2022 drilling season. Drill access to the three strands comprising this fault zone was finally achieved in late 2022 and initial assays show significantly higher silver grades within the AMFZ between the East Atlanta Fault and West Atlanta Fault compared to the areas drilled in 2021 east of the East Atlanta Fault (see
January 6, 2023 , andJanuary 12, 2023 , releases). It is important to bear in mind that this 100-150m wide structural zone was largely untouched by historical mining, with only minor production occurring along the East Atlanta Fault.
______________________________ |
1 NI 43-101 Technical Report on Resources titled "Atlanta Property, |
Hole No. | From | To | Interval | Ag | From | To | Interval | Au |
Silver Assays | Gold Assays | |||||||
AT21-3 | 155.5 | 179.8 | 24.4 | 8.75 | 94.5 | 131.1 | 25.9 | 1.00 |
Including | 158.5 | 169.2 | 10.7 | 17.3 | ||||
AT21-6 | 169.2 | 182.9 | 11.9* | 13.9 | 163.1 | 175.3 | 12.2 | 0.96 |
Including | 169.2 | 182.9 | 10.7* | 13.9 | ||||
AT21-9A | 0 | 44.2 | 21.3* | 9.41 | 32 | 51.2 | 6.1 | 0.37 |
Including | 25.9 | 44.2 | 7.62* | 19.0 | ||||
AT21-10 | 0 | 12.2 | 12.2 | 17.2 | 13.7 | 15.2 | 1.5 | 0.98 |
Including | 1.5 | 9.1 | 7.6 | 23.6 | ||||
AT21-11 | 0 | 33.5 | 16.8* | 12.1 | 0 | 19.8 | 10.7 | 0.97 |
Including | 0 | 12.2 | 12.2 | 18.2 | ||||
AT21-014 | 0 | 25.9 | 24.4* | 36.3 | 0 | 24.4 | 24.4 | 0.35 |
Including | 15.2 | 24.4 | 7.6* | 59.4 | ||||
AT21-015 | 24.4 | 53.3 | 22.9* | 32.3 | 24.4 | 42.7 | 9 | 0.67 |
Including | 25.9 | 29.0 | 3.05 | 82.2 | ||||
And Including | 45.7 | 50.3 | 4.6 | 54.7 | ||||
AT21-016 | 0 | 29.0 | 18.3* | 5.37 | 1.5 | 7.6 | 6.1 | 0.44 |
AT21-018A | 0 | 50.3 | 45.7* | 55.5 | 16.8 | 42.7 | 29 | 1.10 |
Including | 4.6 | 42.7 | 38.1 | 65.8 | ||||
Including | 13.7 | 38.1 | 24.4 | 86.9 | ||||
AT21-030A | 0 | 16.8 | 13.7* | 13.4 | 9.1 | 91.5 | 21.3 | 0.72 |
And | 65.5 | 94.5 | 22.9* | 7.95 | ||||
AT21-038 | 0 | 35.1 | 35.1 | 15.8 | 0.0 | 32.0 | 32 | 0.59 |
AT21-038A | 0 | 38.1 | 38.1 | 10.6 | 0.0 | 36.6 | 36.6 | 0.65 |
Including | 0 | 12.2 | 12.2 | 18.2 | ||||
AT21-41A | 33.5 | 62.5 | 29.0 | 27.3 | 38.1 | 61.0 | 22.9 | 2.17 |
Including | 42.7 | 54.9 | 12.2 | 52.9 | ||||
AT21-41B | 32.0 | 73.2 | 32.0* | 10.4 | 38.1 | 73.2 | 35 | 1.17 |
Including | 59.4 | 67.1 | 7.6 | 24.5 | ||||
AT21-42 | 9.1 | 51.8 | 36.6* | 2.9 | 9.1 | 36.6 | 27.4 | 0.79 |
AT21-42A | 10.7 | 58.0 | 44.2* | 5.0 | 18.3 | 50.3 | 32.0 | 0.80 |
Including | 19.8 | 32.0 | 12.2 | 12.0 | ||||
AT21-43 | 6.1 | 30.5 | 22.9* | 8.33 | 10.7 | 29.0 | 18.3 | 0.95 |
Including | 10.7 | 21.3 | 10.7 | 14.9 | ||||
AT21-43A | 16.8 | 35.1 | 18.3 | 14.4 | 19.8 | 33.5 | 13.7 | 1.90 |
Including | 21.3 | 33.5 | 12.2 | 20.2 | ||||
AT21-45 | 45.7 | 91.4 | 44.2* | 13.1 | 50.3 | 91.5 | 41.2 | 1.03 |
Includes | 67.1 | 77.8 | 10.7 | 41.7 | ||||
AT21-46 | 6.1 | 27.4 | 21.3 | 5.0 | 7.6 | 19.8 | 12.2 | 1.78 |
AT21-48 | 27.4 | 64.0 | 35.1* | 5.7 | 29.0 | 64.0 | 12.2 | 0.40 |
Including | 27.4 | 38.1 | 10.7 | 14.3 | ||||
AT21-50 | 48.8 | 79.2 | 30.5 | 54.1 | 48.8 | 79.3 | 30.5 | 1.39 |
Including | 53.3 | 73.2 | 19.8 | 75.3 | ||||
AT21-050A | 141.7 | 182.9 | 38.1* | 17.2 | 141.8 | 178.4 | 36.6 | 1.00 |
Including | 158.5 | 167.6 | 9.1 | 45.2 | ||||
AT21-061 | 0 | 41.1 | 39.6* | 14.6 | 3.0 | 36.6 | 33.6 | 0.60 |
Including | 3.0 | 10.7 | 7.6* | 60.4 | ||||
AT21-062 | 9.1 | 68.6 | 59.4 | 27.3 | 9.1 | 64.0 | 54.9 | 5.34 |
Including | 15.2 | 18.3 | 3.0 | 33.1 | 30.5 | 41.2 | 10.7 | 11.19 |
And Including | 22.9 | 25.9 | 3.0 | 48.4 | ||||
And Including | 44.2 | 61.0 | 16.8 | 49.6 | ||||
AT21-063 | 0 | 48.8 | 47.2* | 23.9 | 7.6 | 48.8 | 41.2 | 3.94 |
Including | 15.2 | 48.8 | 33.5 | 30.5 | 38.1 | 47.3 | 9.1 | 9.23 |
AT21-064 | 0 | 67.1 | 67.1 | 27.0 | 3.0 | 67.1 | 64.1 | 3.35 |
AT21-065 | 0 | 53.3 | 53.3 | 35.7 | 3.0 | 51.8 | 48.8 | 2.32 |
Including | 6.1 | 39.6 | 33.5 | 50.0 | ||||
AT21-066 | 1.5 | 57.9 | 56.3 | 32.2 | 3.0 | 57.9 | 54.9 | 2.62 |
Including | 39.6 | 56.4 | 16.8 | 55.1 | 51.8 | 54.9 | 3 | 13.35 |
AT21-069 | 3.0 | 19.8 | 16.8 | 24.9 | 3 | 18.2 | 15.2 | 1.01 |
AT21-072 | 13.7 | 42.7 | 19.8* | 6.1 | 35.1 | 42.7 | 7.6 | 0.77 |
Table 2: All silver assays released today. Utilizing a 5 g/t Ag cutoff, the assay intervals are reported in two formats: (1) if |
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 Mineral Resources at the | |||||
Resource Category | Tonnes (000's) | (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 |
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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