Highlights
The true thickness of the reported intervals are estimated to be in the range of 70% to 85% of reported intervals.
+Denotes hole terminated in mineralization due to lost circulation.
Vertical RC drill hole AT21-063, drilled from within the
The adjacent vertical RC hole AT21-064 (17 metres to the N of AT21-063) encountered 64m averaging 3.35 g/t Austarting at 3m depth. The mineralized rock is also oxidized and includes a high-grade intercept of 12.2m averaging 6.88 g/t Au starting at 50.3m.
A third adjacent vertical RC hole AT21-065 (17 metres to the N of AT21-064) encountered 48.8m averaging 2.23 g/t Au starting at 3m depth, and is also oxidized.
These three holes are part of a fence of five holes drilled along a 70 metre long north-south line that despite its location at the bottom of the pit had never been drill tested. Holes AT21-066 and ATR-21-062 also drilled on this fence line graded 54.9m averaging 2.62 g/t Au and 54.9m averaging 5.34 g/t Au, respectively.
This newly identified at surface high-grade gold mineralization ties together with known high-grade historical gold intercepts at depth, better confirming the accuracy of high-grade historical intercepts.
This high-grade mineralization is currently open to the north and south where sizeable additional gaps exist in the historical drilling pattern. The 150m gap between AT21-062 and AT21-041B spatially coincides with the zone of shallow subsidence seen at the SW end of the historical pit and is a high priority target for the next phase of drilling.
Similar potential for discovering additional gold resources and with a likely collateral reduction in the strip ratio is seen south of the historical pit, where the combination of Nevada King and historical holes now identifies mineralization that is well outside of the Gustavson resource model, but within the conceptual pit. Furthermore, this mineralization tracks south of the Gustavson conceptual pit, where mineralization remains open.
Location of Nevada King's 2021 RC drill holes relative to historical drill holes and the 2020 Gustavson gold resource zone and pit perimeter. Current historical open pit shown by black hatched line. Drill section I-I' crosses the length of the historical open pit along trend of the
Longitudinal section I-I' looking east in the plane of the
About
Nevada King is the third largest mineral claim holder in the
Contact:
Tel: (301) 744-8744
Email: collin@nevadaking.ca
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 given the global COVID-19 pandemic, 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.
(C) 2022 Electronic News Publishing, source