Nevada King Gold Drills 1.58 g/t Gold over 114.3 m at Atlanta Mine, Nevada

Nevada King Gold Corp. [NKG-TSXV; NKGFF-OTCQX] reported assay results from two vertical reverse circulation (RC) holes recently completed at its 100%-owned Atlanta gold mine project, located 264 km northeast of Las Vegas, Nevada, in the prolific Battle Mountain trend. The two holes reported today are plotted below in plan and along an updated Section 22-6N(3), initially released on Jan. 6, 2023, updated on March 20, 2023, and again on July 20, 2023.

Highlights: Today’s intervals are the westernmost holes drilled by Nevada King at Atlanta to date and have successfully identified high-grade gold mineralization in the western extents of the West Atlanta graben (WAG) close to the West Atlanta fault No. 2 (WAF2).

An interval of 1.58 g/t gold over 114.3 metres, including 3.61 g/t gold over 24.4 metres, in AT23WS-39 is appreciably higher grade than surrounding holes, injecting high-grade into the surrounding thick blanket of gold mineralization. This is similar to previously released 3.39 g/t gold over 100.6 metre in AT23HG-30 (July 20, 2023), located 125 m to the east of AT23WS-39 that returned 91.5 metres of 0.96 g/t gold and 3.9 g/t silvetr and also plotted on Section 22-6N(3).

Together, these holes illustrate the effectiveness of Nevada King’s drill targeting based on its new geological model, which outlines a series of high-angle faults that divide the mineralized zone into fault-bounded blocks or domains, in turn creating numerous fluid pathways each capable of localizing high-grade gold mineralization throughout the Atlanta deposit. This is a significant departure from the historical Atlanta model, which envisioned a single 45-degree vein structure with no fault offsets or high-grade feeders other than the 45-degree vein zone itself.

Calvin Herron, exploration manager of Nevada King, stated: “These new results continue to expand WAG mineralization westward with increasing gold grades and thicknesses. There are seven historical Kinross holes drilled in the WAG along Section 22-6N(3) that average 0.89 g/t gold with an average intercept thickness of 65 m. The same section length now includes 10 holes drilled by Nevada King with an average grade of 1.39 g/t gold and an average intercept thickness of 121 metres, representing a 56% increase in grade and an 86% increase in thickness. High-grade intercepts like 114.3 metres at 1.58 g/t gold in AT23WS-39 and 100.6 metres at 3.39 g/t gold in AT23HG-30 are important as they strongly influence this 10-hole average. We believe that intercepting these higher-grade zones or feeders concentrated along the high-angle faults is the key to realizing the full potential of the Atlanta deposit, and this same pattern is playing out along other section lines to the north and south as they are progressively filled in with new holes.”

Nevada King is the third-largest mineral claim holder in the state of Nevada, behind Nevada Gold Mines (Barrick/Newmont) and Kinross Gold. Starting in 2016, the company staked large project areas hosting significant historical exploration work along the Battle Mountain trend located close to currently producing or past-producing gold mines.

These project areas were initially targeted based on their potential for hosting multimillion-ounce gold deposits and were subsequently staked following a detailed geological evaluation. District-scale projects in Nevada King’s portfolio include the 100%-owned Atlanta mine, located 100 km southeast of Ely, the Lewis and Horse Mountain-Mill Creek projects, both located between Nevada Gold Mines’ large Phoenix and Pipeline mines and the Iron Point project, located 35 km east of Winnemucca, Nevada.

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