Atlanta Gold Mine
Past producer with established resource and upside potential
Underground and small-scale surface mining 1905-1966
Open pit mining by Standard Slag (1975-1985) recovered 110,000 oz Au and 800,000 oz Ag from 1.5M tons.
Examples of historical drill hole intercepts (NI 43-101 compliant) reported from the property within the 2018 resource zone
- 24.4m grading 11.77 g/t Au, including 4.6m of 45.54 g/t Au
- 27.4m grading 3.93 g/t Au including 5.5m of 7.30 g/t Au
- 30.5m grading 4.81 g/t Au including 3.7m of 21.83 g/t Au
- 67.1m grading 2.12 g/t Au including 12.2m of 5.60g/t Au at 224.1m-240.9m
Road accessible, camp in place, power and water both provided to site; Plan of Operation is in place
In addition to upgrading Inferred ounces in the pit to Measured, as well as adding more ounces into the pit, Atlanta demonstrates several untouched gold targets outside of the pit area.
Current NI 43-101 compliant gold resource by Gustavson (2018) using a 0.4 g/t cut-off and $1250/ounce gold price:
|Resource Category||Tonnes (000’s)||Au Grade (ppm)||Contalned Au Oz (000’s)||Ag Grade (ppm)||Contalned Ag Oz (000’s)|
|Measured + Indicated||11,000||1.30||460||11.9||4,220|
* Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no certainty that the Mineral Resources will be converted to Mineral Reserves. The quantity and grade are estimates and are rounded to reflect the fact that it is an approximation. Quantities may not sum due to rounding. Kevin Francis, SME RM, of Gustavson Associates is the Qualified Person with responsibility for the mineral resource estimate. Mineral Resources do not have modifying factors or dilution applied. Mineral Resources are presented at a 0.35 ppm gold only cutoff grade and constrained by a pit optimization shell developed at $1500/ oz Au.
Atlanta Gold Mine
5,500m of core and RC drilling around pit area to convert inferred to indicated resources and add new resources to the north, east, and southwest
5,100m of reconnaissance RC drilling to test new targets in other parts of the property
District-scale geophysical surveys
Exploration outside of the Atlanta resource zone will initially focus on targets identified by historical magnetic and geochemical anomalies -- these being primarily located in outcrop. The 2021 geophysical and geochemical programs will cover the entire district, thereby enabling Nevada King to greatly expand its search into areas covered by shallow alluvium and post-mineral volcanics, which cover most of the district.