Nevada King Gold Corp. (TSX-V: NKG) (OTCQX: NKGFF) has expanded a drilling program at its large-scale Atlanta Gold Mine Project located northeast of Las Vegas.
The Vancouver-based gold producer announced the news on Tuesday and the primary objectives of the expansion will be to fully penetrate the lower contact of the silica breccia zone and find the bottom of gold mineralization at the site.
The company says the highest gold grades usually occur at approximately 12.5 metres above the basal contact of the silica breccia zone and that several past holes have not successfully penetrated the lower portion of that zone, which is essential for attaining the best gold/silver grades and tonnage.
The news follows Nevada King expanding its Phase II drill program to 20,000 metres in November after positive assay results and favourable ongoing geological interpretation at the site. The company will now be expanding the same drill program by an additional 10,000 metres after the completion of 168 holes comprising 21,822 metres.
Drilling at the Atlanta Gold Mine Project will continue through the winter months with two reverse circulation rigs in operation. The project spans 5,166 hectares (51.6 square kilometres) and is wholly-owned by the company.
Nevada King plans to add additional rigs for the continuation of its coring program once the weather improves in the spring.
“Much of Nevada King’s current program, therefore, involves drilling around existing holes that did not fully penetrate the mineralized zone, while also tracking mineralization westward into the volcanics,” said Cal Herron, Exploration Manager of Nevada King.
“With the opportunity to significantly increase both grade and tonnage within the current resource zone, Nevada King has opted to place special emphasis here by drilling more holes and drilling deeper.”
The discovery of 9.9 g/t Au over 27.4m including 17.6 g/t Au over 12.2m last Thursday is the most notable highlight of the drill program thus far.
Nevada King stock rose by 2.63 per cent today to $0.39 on the TSX Venture Exchange.
NevGold Corp. (TSX-V: NAU) (OTCQX: NAUFF) (Frankfurt: 5E50) is another Vancouver-based gold producer with major operations in Nevada. The company’s Limousine Butte project in the state has yielded continuous high-grade results through 10,000 metres drilled there to date.
Combined with the Nutmeg Mountain project in Idaho, the company says it will be able to deliver north of a 3-million-ounce near surface oxide gold resource by H2, 2023.
NevGold stock dropped by 1.25 per cent today to $0.40 on the TSX Venture Exchange.
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