Hole No. | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) |
AT22HG-13 | 109.8 | 192.1 | 82.3 | 3.60 | 11.0 |
Including | 147.8 | 175.3 | 27.4 | 9.92 | 30.9 |
Including | 161.6 | 173.8 | 12.2 | 17.59 | 33.0 |
Including | 167.6 | 172.2 | 4.6 | 32.47 | 50.0 |
AT22NS-69 | 89.9 | 135.7 | 45.7 | 1.57 | 8.5 |
AT22NS-80 | 80.8 | 129.6 | 48.8 | 1.37 | 6.6 |
AT22RC-13 | 0 | 19.8 | 19.8 | 0.99 | 7.4 |
Table 1: All holes released today. The Company has not yet estimated true widths for individual intercepts. |
- Vertical RC hole AT22HG-13 was positioned to confirm a thick high-grade intercept reported by Goldfields from its angle core hole ARC-2, which returned 3.93 g/t Au over 29m (Table 2). This gold intercept in ARC-2 was substantially higher-grade than any of the surrounding historical holes, suggesting the hole may have cut across a higher-grade, high-angle "feeder" fault. Nevada King's AT22HG-13 was collared west of the Goldfields intercept to test for greater thicknesses of higher-grade gold mineralization on the hanging-wall side of the suspected fault. The hole intersected 82.3m of 3.6 g/t Au, including 4.6m averaging 32.47 g/t Au.
- As shown in Figure 2, AT22HG-13 drilled vertically down through the Atlanta West Fault ("AWF"), which explains the mineralization in volcanics and sediments above the unconformity and the wide, high-grade intercepts, particularly within the Eureka Quartzite. Understanding the geometry of this high-grade structure will aid in testing mineralization along strike to the north and south.
- Based on its current interpretation, the Company also anticipates encountering additional high-grade gold mineralization in the volcanic/sedimentary package and dacite porphyry on the west side of the fault. New drill sites are currently being prepared surrounding AT22HG-13 where potential high-grade mineralization remains untested north, south, and west, as no drilling has been conducted in the immediate vicinity (Figure 1).
- In between the AWF and the
Atlanta King Fault ("AKF") hole AT22NS-69 returned 45.7m of 1.57 g/t Au while AT22NS-80 returned 48.8m of 1.37 g/t Au. Uniform in both grade and thickness, the mineralization in these two holes is hosted within the silica breccia horizon that was intruded by a fine-grained tuffaceous porphyritic dacite and by rhyolitic tuff-dikes and tuff-dike breccia. Both intrusive units are variably mineralized and intrude silicified dolomite that overlies the Eureka Quartzite. Gold mineralization does not generally extend very far into the quartzite, but some of the highest gold grades are often found within 10m of the contact. - Gold mineralization occurring east of the AKF is also hosted in silica breccia intruded by rhyolitic tuff-dikes, but the mineralized horizon overlies massive, Ely Springs Dolomite, as opposed to Eureka Quartzite west of the fault. The AKF is a pre-caldera structure that pre-dated mineralization but strongly influenced the north-trending direction of later, caldera-related faults responsible for localizing the
Atlanta hydrothermal system. Starting at the East Atlanta Fault ("EAF"), a series of north-south near vertical faults produced a series of narrow fault blocks progressively down-dropped to the west. Nevada King's 2021 drilling revealed this step-down fault pattern and a new structural model was developed that is guiding the current drilling program. - As part of its program designed to expand the current resource zone, the Company will drill deeper to the west and shallower to the east. Angle hole AT22RC-12 at the east end of Section 22-5N clearly shows both the silica breccia horizon and silicified tuff-dike to be trending eastward along a near-horizontal replacement zone within the dolomite unit, with gold mineralization occurring in the silica breccia and tuff-dike as well as in weakly decalcified dolomite above the tuff-dike sill. This is a well mineralized hole, averaging 1.38 g/t Au over 57.9m (41m true thickness), exhibiting replacement-type mineralization within the carbonate host. This flat-lying replacement horizon continues east of the EAF but higher up the slope and into the East
Ridge Target ("ERT") – an area that has never been drill-tested but hosts strong gold-in-soil and rock anomalies (see Figure 1). The Company is currently preparing to drill this target.
"The
Hole No. | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) |
AT21-41B* | 38.1 | 73.2 | 35 | 1.173 | 11.3 |
AT21-43A* | 19.8 | 33.5 | 13.7 | 1.9 | 18.6 |
ARC-2 | 155.5 | 184.5 | 29.0 | 3.932 | 27.5 |
AT22RC-12 | 0 | 57.9 | 57.9 | 1.38 | 14.0 |
Table 2: Other holes used in Section22-5N. The AT21/22 series holes were drilled by Nevada King. ARC series |
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 | Tonnes |
| Contained Au |
| 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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