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Friday, Feb 14, 2025
Mugglehead Investment Magazine
Alternative investment news based in Vancouver, B.C.

Gold

Nevada King Gold starts exploration drilling at Atlanta Gold Mine

The target strikes approximately 1,000 meters north-south and is found 300 meters east of the Atlanta Pit and current resource

Nevada King Gold starts exploration drilling at Atlanta Gold Mine
At the Atlanta Mine Project in Nevada. Image via Nevada King Gold.

Nevada King Gold Corp. (TSXV: NKG) (OTCQX: NKGFF) started its reconnaissance drilling program at its Atlanta Gold Mine project in the Battle Mountain Trend, northeast of Las Vegas, Nevada.

The company said on Wednesday that it had recently used a reverse circulation drill rig to test the central portion of its East Ridge Target (ERT).

Drilling at the ERT will initially occur at six sites along newly constructed roads to test for depth and strike extensions of gold surface anomalies identified by the company through a 2021 surface mapping and sampling program.

High-angle faults and strongly altered intrusive dikes are present at the surface. Several gold rock chip and soil samples exceed 2 g/t Au. Results from the company’s Controlled-Source Audio-Frequency Magnetotellurics (CSAMT) geophysical surveys conducted in 2022 and 2023 corroborate these gold surface anomalies and outline near-vertical bodies of low resistivity.

The company has observed the same type of CSAMT anomaly 300 meters west throughout the Atlanta resource zone. Here is where drill data consistently identifies low-resistance, altered intrusions welling up into the highly resistive Paleozoic basement rocks.

Plan view of ERT showing locations of initial reconnaissance drill holes.
Image via Nevada King Gold Corp.)

Read more: Calibre Mining becomes newest addition on S&P/TSX Composite Index

Read more: U.S. Gold gets nod from Wyoming Environmetal regulators for reclamation bond

Deep sources for gold-bearing fluids open new targets

Early-stage, iron-rich rocks pushed up and spread into older rocks along major faults. This causes the carbonate rocks to break down and become more porous. This allowed gold-bearing fluids to flow through, depositing gold.

The low-resistivity area seems to extend from the same types of rocks found under the West Atlanta Graben Zone. This suggests that the gold found along the ERT is similar to that in the Atlanta resource zone. Nevada King has finished building roads and drilling sites on the ERT, and drilling has now started.

“The CSAMT interpretations suggest a high-angle connection with intrusive bodies at depth underlying thick blocks of highly resistive (presumably unaltered and unmineralized) carbonate basement rock,” said Cal Herron, exploration manager for Nevada King.

“This connection to deep sources for gold-bearing fluids potentially opens up a host of new targets scattered throughout the Atlanta District where very similar but much larger CSAMT anomalies occur within shallow carbonate basement terrains that have yet to see any exploratory drilling, including one immediately east of the East Ridge.”

The Atlanta Resource zone is located in Lincoln County, Nevada. It’s surrounded by several notable mining projects. One of these is Calibre Mining Corp‘s (TSX: CXB) (OTCQX: CXBMF) Gold Rock Project in White Pine County, near the border with Lincoln County, is known for its gold deposits and is relatively close to the Atlanta Resource zone.

Calibre Mining and U.S. Gold Corp are sponsors of Mugglehead news coverage

 

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