Highlights:
Hole No. | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) |
AT23NS-124 | 12.2 | 86.9 | 74.7 | 2.37 | 43.9 |
AT23NS-120 | 33.5 | 71.6 | 38.1 | 1.14 | 43.4 |
AT23NS-129 | 109.8 | 143.3 | 33.5 | 1.14 | 31.4 |
Table 1. All holes reported today along Section 22-10N(3). Mineralization occurs along sub-horizontal horizons generally dipping gently westward; true mineralized thickness in vertical holes is estimated to be between 85% and 95% of reported vertical drill intercept length. |
- 2.37 g/t Au over 74.7m in AT23NS-124 starts at a depth of just 12m beneath the pit floor and was sited to test for a northward extension of higher-grade and thicker mineralization hosted within a 20m-wide fault block, termed the "
East High-Grade Zone " that runs along the western side of the EAF and floors the bottom of theAtlanta Pit . The East High-Grade Zone had previously been intercepted in holes drilled south of Section 22-10N(3) and today's intercept successfully extends this zone 30m northward, injecting higher-grade and thicker mineralization into this area of the AMFZ.- Since historical explorers did not conduct drilling from within the
Atlanta pit, theEast High-Grade Zone was not discovered until Nevada King's 2021 drilling campaign that intercepted high-grade oxide mineralization starting at surface from the bottom of the pit, including 5.34 g/t Au over 54.9m and 3.35 g/t Au over 64.1m (releasedJanuary 12, 2022 , andJanuary 20, 2022 , respectively). - As shown in Figure 2, the
East High-Grade Zone is atypical in that it hosts grades and thicknesses that are considerably greater when compared to most other mineralized fault blocks comprising the AMFZ. - AT23NS-120 intercepted 1.14 g/t Au over 38.1m and was positioned 17m north-northwest of AT23NS-124 to define the western boundary of the
East High-Grade Zone . The deeper intercept depth relative to AT23NS-124 indicates that AT23NS-120 collared west of the fault bounding the western side of the zone and subsequently drilled down through the boundary fault and into mineralization. - AT23NS-129 stepped a further 39m west of AT23NS-120 into another drill pattern gap and intercepted 1.14 g/t Au over 33.5m, confirming the presence of mineralization within a westward thickening wedge of silica breccia bounded on top and bottom by shallow-dipping contacts.
Hole No. | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) | Notes |
AT21-65 | 3.0 | 51.8 | 48.8 | 2.32 | 32.9 | |
AT22NS-89 | 172.3 | 213.4 | 41.2 | 0.94 | 67.8 | Bottomed in mineralization |
AT22NS-90 | 182.9 | 222.6 | 39.7 | 0.82 | 52.3 | |
AT23NS-48 | 91.5 | 112.8 | 21.3 | 1.27 | 35.1 | |
AT22NS-50 | 89.9 | 108.2 | 18.3 | 3.68 | 27.1 | |
includes | 93.0 | 99.1 | 6.1 | 7.09 | 33.1 | |
AT22NS-47 | 64.0 | 89.9 | 25.9 | 2.04 | 27.8 | |
AT22NS-49 | 62.5 | 88.4 | 25.9 | 3.73 | 46.1 | |
Including | 67.1 | 74.7 | 7.6 | 6.33 | 28.8 | |
AT22NS-43A | 3.0 | 30.5 | 27.4 | 1.02 | 21.2 | |
AT22NS-46 | 4.6 | 59.5 | 54.9 | 3.41 | 26.0 | |
90-2 | 135.7 | 173.8 | 38.1 | 0.99 | 90.4 |
Table 2. Previously reported and historic holes used in Section 22-10N(3). AT21 series hole was drilled by Nevada King in 2021, while AT22 series holes were drilled by Nevada King in 2022. "90" series hole drilled by Bobcat in 1990. Mineralization occurs along sub-horizontal horizons generally dipping gently westward; true mineralized thickness in vertical holes is estimated to be between 85% and 95% of reported vertical drill intercept length. |
All RC samples from the
The Company also announces it has granted 300,000 stock options to a director of the Company with each stock option exercisable at a price of
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
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
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, 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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