VANCOUVER, BC, OCTOBER 21, 2024 – Nevada King Gold Corp. (TSX-V: NKG; OTC: NKGFF) (“Nevada King” or the “Company”) is pleased to announce commencement of its Phase III drill program with the mobilization of a reverse-circulation (“RC”) drill to conduct drilling across the recently discovered Wild West Target (“WWT”) (August 19, 2024 release) at its 5,166 hectares (51.6km2), 100%-owned Atlanta Gold Mine Project along the prolific Battle Mountain Trend 264km northeast of Las Vegas, Nevada.
Wild West Zone Highlights:
Cal Herron, Exploration Manager of Nevada King, stated, “The WWZ is situated along a major east-west basement lineament interpreted from gravity data that projects approximately 3 kilometres eastward from the Silver Park, Mustang, and Outlaw Targets (Figure 2) through the centre of the Wild West Target and into the Atlanta resource zone where it connects to the North Fault, which is an important structural control associated with high-grade mineralization immediately northwest of the pit. Nevada King holes AT23WS-44 (11.64 g/t Au over 108.2m, including 37.16 g/t Au over 29.0mreleased October 2, 2023), AT23WS-22 (5.63 g/t Au over 42.7m, including 28.57 g/t Au over 7.6m released April 27, 2023) and AT24WS-83 (4.67 g/t Au over 42.7mreleased August 19, 2024) all occur along this trend.
“A second, NW-trending deep gravity-inferred structure cuts through the centre of the WWZ where it intersects the E-W gravity trend and then continues down the axial plane of the South Quartzite Ridge Target to the southeast. Generally speaking, structural intersections commonly provide favourable loci for metals concentration, so the conjunction of major structures we see in the WWT is a good sign, particularly since it coincides with a strong CSAMT low resistivity zone interpreted as a shallow intrusive body. Hydrothermal fluids associated with shallow, low-resistivity intrusions are closely associated with gold mineralization throughout the current resource area, along the East Ridge Target (released July 16, 2024), and at the northern end of the South Quartzite Ridge Target (released July 23, 2024). As we continue to move westward with deeper holes into previously untested territory, we look forward to seeing what Mother Nature has in store for us.”
QA/QC Protocols
All RC samples from the Atlanta Project are split at the drill site and placed in cloth and plastic bags utilizing a nominal 2kg sample weight. CRF standards, blanks, and duplicates are inserted into the sample stream on-site on a one-in-twenty sample basis, meaning all three inserts are included in each 20-sample group. Samples are shipped by a local contractor in large sample shipping crates directly to American Assay Lab in Reno, Nevada, with full custody being maintained at all times. At American Assay Lab, samples were weighted then crushed to 75% passing 2mm and pulverized to 85% passing 75 microns in order to produce a 300g pulverized split. Prepared samples are initially run using a four acid + boric acid digestion process and conventional multi-element ICP-OES analysis. Gold assays are initially run using 30-gram samples by lead fire assay with an OES finish to a 0.003 ppm detection limit, with samples greater than 10 ppm finished gravimetrically. Every sample is also run through a cyanide leach for gold with an ICP-OES finish. The QA/QC procedure involves regular submission of Certified Analytical Standards and property-specific duplicates.
Qualified Person
The scientific and technical information in this news release has been reviewed and approved by Calvin R. Herron, P.Geo., who is a Qualified Person as defined by National Instrument 43-101 (“NI 43-101”).
About Nevada King Gold Corp.
The Atlanta Mine is a historical gold-silver producer with a NI 43-101 compliant pit-constrained resource of 460,000 oz Au in the measured and indicated category (11.0M tonnes at 1.3 g/t) plus an inferred resource of 142,000 oz Au (5.3M tonnes at 0.83 g/t). See the NI 43-101 Technical Report on Resources titled “Atlanta Property, Lincoln County, NV” with an effective date of October 6, 2020, and a report date of December 22, 2020, as prepared by Gustavson Associates and filed under the Company’s profile on SEDAR+ (www.sedarplus.ca).
Please see the Company’s website at www.nevadaking.ca.
For further information, contact Collin Kettell at collin@nevadaking.ca or (845) 535-1486.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements Regarding Forward Looking Information
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.