Nevada King Gold Corp. (TSXV: NKG) (OTCQX: NKGFF) discovered three major regional targets in its exploration program at its 13,100 hectare Atlanta Gold Mine Project.
The company said most of the exploration and development to date has specifically targeted expanding the resource approximately to the historical Atlanta mine pit.
The expanded gold mineralization zones around the Atlanta pit and the discovery of new significant gold zones hold great potential for enhancing the overall resource estimate.
The insights gained from the regional exploration work offer valuable information for identifying prospective target areas throughout the larger property, paving the way for continued progress and growth in any future gold exploration and mining activities.
Located 5.5 kilometers west of the Atlanta pit, on the opposite side of the Indian Peak Caldera, is an area called Western Knolls.
It covers approximately 9 square kilometers and represents a promising exploration target. This target was initially identified in 2011 by the former operator, Meadow Bay Gold Corp. (TSX: MAY), which conducted extensive geophysical, geochemical, and geological surveys of the region.
Although Meadow Bay obtained permits for 19 drill holes, the company only managed to drill two holes at the northern boundary of the target area.
Nevada King became interested in Western Knolls after the discovery of the West Atlanta Graben (WAG) at the Atlanta mine because the Western Knolls might host a similar style of mineralization. Just like the gold mineralization found in the Atlanta mine, the mineralization at Western Knolls is primarily hosted by altered and silicified quartz latite tuff, which is partially welded. The gold and silver mineralization at Western Knolls also shares a similar signature of arsenic, barium, antimony and molybdenum.
The historical drilling conducted by Meadow Bay at Western Knolls yielded promising results, with the two drilled holes showing anomalous gold starting at depths ranging from 100 to 216 meters. This depth and the style of mineralization are similar to what was observed in the WAG zone at the Atlanta mine.
Atlanta Gold Mine Project map. Image via Nevada King.
Read more: Nevada King Gold expands Atlanta Gold mine project, raises claims to 1,562
Read more: Nevada King Gold doubles drill program at Atlanta Gold Mine
Previous exploration efforts were unsuccessful at finding mineralization
Previous operators explored the South Quartzite Ridge target for gold hosted in the Pogonip Limestone but were unsuccessful in finding significant mineralization. However, based on recent drilling results at the Atlanta mine, Nevada King believes that past drilling might have missed the primary Pogonip target, which is located beneath a relatively thin layer of barren quartzite.
This target area also aligns with gold-bearing structures found in the Atlanta pit, and the recent drilling results indicate increasing gold grades as it approaches the South Quartzite Ridge. This presents an exciting opportunity for further exploration and potential discovery of significant gold mineralization in the Pogonip formation at South Quartzite Ridge.
“Nevada King originally purchased Atlanta because of the district-scale gold potential seen around the 6 km diameter ring fracture zone associated with the Indian Peak Caldera,” said Cal Herron, exploration manager of Nevada King.
Crossroads is a newly discovered target northeast of the Atlanta deposit. Previous mapping indicated mineralization commonly prospective for gold, and recent work by Nevada King found rock formations and basement rock that resembles the host rock of Carlin-type deposits. The discovery of silicified carbonate material suggests the potential for significant gold mineralization.
Historical drilling also yielded positive results in the northern part of the target area. The identification of Crossroads as a promising exploration target opens up new possibilities for discovering valuable gold deposits in the region.
Nevada King shares rose by 1.1 per cent to $0.435 on Tuesday on the TSX Venture Exchange.
Read more: Nevada King drilling campaign returns high grades at Atlanta Mine Fault Zone
Read more: Nevada King finds significant silver mineralization in Atlanta Gold Mine in Nevada
Nevada is one of the top gold-producing regions globally
Nevada is one of the top gold-producing regions globally and has earned the nickname “The Silver State” due to its significant contributions to the precious metals industry. The discovery of gold in the mid-1800s spurred a rush of prospectors to the area, leading to the establishment of mining towns and the development of the state.
Over the years, the discovery of numerous rich gold deposits, particularly in the Carlin Trend and Battle Mountain-Eureka Trend, cemented Nevada’s status as a major gold-producing state.
NevGold Corp. (TSXV: NAU) (OTCQX: NAUFF) made some significant discoveries in previous untested areas of its Limousine Butte project. The company conducted a thorough analysis and re-interpretation of data gathered from its 2022 drilling campaign, which led to the identification of these new prospective zones.
In the area just south of the Golden Butte mine, there has been sideways movement along a fault line, and unfortunately, there hasn’t been much gold mineralization observed there. However, this recent understanding of the fault has brought attention to two promising areas for exploration.
One of these areas, known as the “Connector Zone,” is located southwest of Resurrection Ridge. The other area is situated northeast of Resurrection Ridge and leads to the gold deposits found at Coffee Mug. These areas now present exciting opportunities for further exploration, as they show potential for significant gold mineralization.
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