Nevada King Gold Corp. (TSX-V: NKG) (OTCQX: NKGFF) released its latest assay results and saw high-grade numbers in six vertical reverse circulation holes completed at its Atlanta Gold Mine project in Nevada.
Among the highlights, results included 2.98 g/t au over 67.1 meters, 2.54 g/t au over 65.5 meters and 2.16 g/t au over 47.3 meters. The project is located in the Battle Mountain trend 264 kilometres northeast of Las Vegas.
The new holes were drilled on Section 22-9N, targeting a high-grade feeder zone within the Atlanta Mine Fault Zone (AMFZ). This zone is made up of several strands of structures that form a braided network, and it sits between the East Atlanta and West Atlanta faults.
The newly drilled vertical holes have intercepted areas of high-grade gold mineralization that were not found in the previous drilling. These areas were selected based on Nevada King’s updated model of gold mineralization in this section, which differs significantly from previous interpretations.
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The blocks between the Atlanta King and East Atlanta faults contain the highest gold grades, supported by the results from drill holes AT23NS-58 and AT23NS-64 and adjacent holes AT21-63 and AT22NS-59.
Similarly, higher gold grades are found in a 30-meter block on the eastern side of the West Atlanta Fault, evident in AT22NS-87 and 88. Although some historical angle holes intersected this zone, few of them fully sampled the entire mineralized thickness.
Notably, there are significant differences in gold grades and thicknesses in current drill holes NS-87 and NS-88 (47.3 meters at 2.16 g/t and 45.7 meters at 1.28 g/t) compared to Kinross angle holes KR97-3 and KR97-4 (24.4 meters at 0.97 g/t and 27.4 meters at 0.85 g/t).
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“As our drill fences progress northward along the AMFZ we are seeing strong continuity in grade, thickness, and style of mineralization from section to section,” Nevada King Exploration Manager Cal Herron said.
“We also start to see why many of the historical holes failed to pick up on the higher-grade mineralization localized in the numerous fault blocks and how this mineralization was largely missed by past explorers.”
Herron explained that the company drilled into shallow high-grade mineralization immediately west of the East Atlanta Fault during their 2021 exploration program. Past explorers failed to discover this mineralization, and the high-grade fault block on the east side of the West Atlanta Fault was not fully explored in the past.
However, the company’s new interpretation and geologic model are enabling it to locate and map these high-grade zones more accurately as they move northward along the AMFZ. This is helping them identify the primary fault components and mineralized blocks more systematically.
Nevada King stock went up by 2.56 per cent on Thursday to $0.40 on the Canadian Ventures Exchange.