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Nevada King Gold drills 3.39 g/t gold over 100.6 metres over at Atlanta mine, Nevada
Nevada King Gold Corp. [NKG-TSXV; NKGFF-OTCQX] reported assay results from four vertical, reverse circulation (RC)…
Nevada King Gold Corp. [NKG-TSXV; NKGFF-OTCQX] reported assay results from four vertical, reverse circulation (RC) holes recently completed at its Atlanta gold mine project, located 264 km northeast of Las Vegas, Nevada, in the prolific Battle Mountain trend.
Today’s holes infill gaps along previously reported Sections 22-6N and 22-6N(W), a 500-metre wide cross section starting east of the pit and transiting the full extents of both the Atlanta Mine Fault Zone (AMFZ) and the West Atlanta Graben (WAG).
Highlights: Today’s highlight intervals of 3.39 g/t gold over 100.6 metres in AT23HG-30 and 2.67 g/t gold over 73.2 metres in AT23HG-28 were both drilled proximal to and west of the West Atlanta Fault (WAF). These impressive grades over significant thicknesses continue to point to the WAF as a major feeder structure responsible for concentrating high-grade gold mineralization at Atlanta.
Moving further west across the WAG, historical hole AR-27, located 30 metres from AT23HG-30 intercepted 99.1 metres grading 0.73 g/t gold while 25 metres further west, today’s AT23HG-22 cut 141.8 metres grading 0.55 g/t gold near the middle of the WAG. Continuing west again, grades pick up as the West Atlanta Fault #2 (WAF2) is approached, as seen in AT22SE-42 (163.1m at 0.98 g/t Au) and AT22SE-4 (181.4m at 1.03 g/t Au), suggesting the WAF2 is also a feeder structure. The Company is currently drilling in proximity to WAF2 to better understand its significance.
AT23HG-30 is also notable as the first hole at Atlanta to encounter gold mineralization in the Pogonip Limestone (Op) formation, intercepted at 369 metres depth as the hole crossed the WAF. This is potentially significant as Pogonip Limestone serves as the main ore host at the Archimedes deposit (2.1 Moz1) in Eureka, Nevada, and at Barrick’s Long Canyon deposit (2.2 Moz2) in NE Nevada. Pogonip Limestone underlies the high quartzite ridge immediately southeast of the Atlanta pit and this ridge appears to have been uplifted about 300 metres across the South Fault, meaning future drilling could target this newly identified mineralizerd horizon at shallow depths beneath 30-60 metres of barren quartzite within a completely untested area approximately 500 metres wide by 2,000 metres long.
Aside from the high gold grade and the mineralized Pogonip Limestone at depth, AT23HG-30 also returned significant molybdenum (Mo) and yttrium values. Exhibiting a strong spatial relationship with gold, Mo is enriched starting at 195 metres depth and continues to the bottom of the hole at 392 metres, averaging 1,227 ppm (or 0.12%) Mo over 197 metres, with individual 1.52 metres drill intervals ranging up to 8,785 ppm (0.87%) Mo. The company is continuing to review these results and their potential significance.
Cal Herron, Exploration Manager of Nevada King, stated: “These new results add to the success of our exploration model – identifying high-angle faults responsible for channeling Au/Ag bearing fluids into the basement and volcanic host rocks and then following these structures along strike. This has allowed us to define significant areas of higher grade ‘core zones’ proximate to the feeder zones as well as thick mineralized zones emanating from and occurring between major faults. On the west side of the West Atlanta Graben, we think the West Atlanta #2 Fault is another feeder structure, and we are just now in the process of drilling it, looking for higher grade, thicker mineralization along the graben’s western margin. Overall, today’s remarkable highlight intervals that include the identification of new gold-bearing host rock in the Pogonip Limestone formation and the discovery of highly anomalous molybdenum grades, serves to stoke our enthusiasm about the potential for continued discovery and resource growth at Atlanta.
Nevada King is the third largest mineral claim holder in Nevada, behind Nevada Gold Mines (Barrick/Newmont) and Kinross Gold. 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.
The company is well funded with cash of approximately $19 million as of July 2023.
