Nevada King Gold Corp. (TSX-V: NKG) (OTCQX: NKGFF) announced silver assays from 31 holes drilled during its Phase I, 2021 drill program at its Atlanta Gold Mine Project located 264 kilometers northeast of Las Vegas, Nevada in the Battle Mountain Trend.
The 2021 series holes were only assayed for gold while assays for silver and other elements have also been performed intermittently. The silver assays returned far more silver than originally thought. Now Nevada King has decided to assay all drill samples for gold, silver and multiple elements.
“Silver mineralization to date is strongest within the silica breccia zone developed on top of massive dolomite and quartzite, while the highest grades occur proximal to high-angle faults cutting the silica breccia between the East Atlanta Fault and West Atlanta Fault,” said Cal Herron, exploration manager of Nevada King.
Historically, Atlanta produced 110,000 ounces of gold and 800,000 ounces of silver from 1.5 million tons between 1975 and 1985. The recoverable silver grade during these ranges was 17 g/t. Most of the higher grade silver portions came from the East Atlanta Fault and immediately to the east of this fault.
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Nevada King diverts attention after strong assays in East Atlanta Fault
Nevada King drilled most of its holes in 2021 east of the East Atlanta Fault within lower grade extensions of the historical deposit.
Originally designed to investigate potential for an eastward extension of the Gustavson 2020 pit-constrained gold resource, the discovery of high grade gold in AT21-062 through AT21-065 at the bottom of the pit refocused the company’s attention westward on the AMFZ for the 2022 drilling season.
Now drilling access to the three ranges along the fault zone were achieved in late 2022. The assays show higher silver grades between the East Atlanta Fault and West Atlanta Fault compared to drilling in 2021. This 100-150 meter wide zone hasn’t been touched by historical mining.
“The Gustavson 2020 pit-constrained resource model calculated an average silver grade of 11g/t in the M+I category. Results from the recent drilling clearly show strong correlation of higher silver grade with the silica breccia horizon and grades are substantially higher than those reported in the Gustavson 2020 pit-constrained resource model,” said Herron.
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NevGold Corp. (TSXV:NAU) (OTCQX:NAUFF) is also operating in Nevada. In November, NevGold announced that its ongoing drill program at Resurrection Ridge intercepted more oxide gold gold on its last assay. It also expanded its mineralized footprint by over 100 metres. NevGold shares rose a penny and is presently trading at $0.395.
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