VANCOUVER, BC , Sept. 22, 2022 /CNW/ - Nevada King Gold Corp. (TSXV: NKG) (OTCQX: NKGFF) ("Nevada King " or the "Company") is pleased to announce an update on its 2022 Phase II resource expansion and definition drilling at its 5,166 hectare (19.94 square mile), 100% owned Atlanta Gold Mine Project, located in the prolific Battle Mountain Trend 264km northeast of Las Vegas, Nevada .
Nevada King has completed 68 reverse circulation ("RC") holes totaling 5,038m , seven RC pre-collar holes totaling 623m , and nine core holes totaling 646m (see Figure 1).
Six batches of drill samples have been delivered to American Assay Labs in Reno, Nevada . The Company reported initial assay results on September 13, 2022 , including high-grade intervals of 120.4m of 1.49 g/t Au and 57.9m of 1.38 g/t Au, located south and southeast of the Atlanta pit. Further assay results are expected shortly.
RC drilling is currently underway along the west wall of the historic pit where a fence of holes is testing the down-dip extension of the mineralized Atlanta Mine Fault Zone ("AMFZ") to better define the dip and geometry of the down-dropped fault blocks across the AMFZ. This fence of holes is being drilled parallel to and westward from last year's drilling, which returned high-grade intercepts including 41.2m averaging 3.94 g/t Au, 64m averaging 3.35 g/t Au, and 54.9m averaging 5.34 g/t Au, starting at or near surface (see January 20, 2022 , news release).
Drill pad construction at the southwest corner of the pit is nearing completion where several vertical holes are planned. This area, which was previously inaccessible and has never been drill tested, coincides with portions of the AMFZ that were historically mined underground starting in the 1880s and continuing until the early 1940s.
Exploration Manager Cal Herron , P.Geo., stated: "Nevada King's 2022 program initially concentrated on step-out drilling from holes completed in 2021 along the northern and southern extensions of the AMFZ to further expand the perimeter of the 2020 Gustavson resource zone. At the same time, new drill roads and pad construction were undertaken along the western and southwestern sides of the Atlanta pit to access the down-dip extension of the AMFZ with vertical holes. Vertical holes are more cost-effective than angle holes and are also more effective in recovering high-grade gold mineralization hosted in strongly broken ground. Note that almost all of the historical drilling on the down-dip extension of the AMFZ was done utilizing angle holes due to poor road access, with poor recovery in these high-grade areas. This is particularly important at the southwestern corner of the pit in the vicinity of historical underground mine production where higher gold grade is anticipated to be hosted in broken ground at shallow depth.
"The first of these drill holes designed to test this highly prospective zone of the AMFZ was collared on September 20, 2022 , and the other two drills will soon be added along the pit's western wall as pads and sumps are completed. This coming month will see a mixture of vertical RC and core holes chasing the down-dip and southern extensions of the high-grade mineralization hit at the bottom of the pit in 2021. If the Company's interpretation proves correct, these new holes have the potential to significantly add to gold endowment at Atlanta ."
The scientific and technical information in this news release has been reviewed and approved by Calvin R. Herron , P.Geo., who is a Qualified Person as defined by National Instrument 43-101 ("NI 43-101").
About Nevada King Gold Corp.
Nevada King is the third largest mineral claim holder in the State of Nevada , behind Nevada Gold Mines (Barrick/Newmont) and Kinross Gold . Starting in 2016 the Company has staked large project areas hosting significant historical exploration work along the Battle Mountain trend located close to current or former producing gold mines. These project areas were initially targeted based on their potential for hosting multi-million-ounce gold deposits and were subsequently staked following a detailed geological evaluation. District-scale projects in Nevada King's portfolio include (1) the 100% owned Atlanta Mine, located 100km southeast of Ely , (2) the Lewis and Horse Mountain-Mill Creek projects, both located between Nevada Gold Mines' large Phoenix and Pipeline mines, and (3) the Iron Point project, located 35km east of Winnemucca, Nevada .
The Company is well funded with cash of approximately $19.2 million as of September 2022.
The Atlanta Mine is a historical gold-silver producer with a NI 43-101 compliant pit-constrained resource of 460,000 oz Au in the measured and indicated category (11.0M tonnes at 1.3 g/t) plus an inferred resource of 142,000 oz Au (5.3M tonnes at 0.83 g/t). See the NI 43-101 Technical Report on Resources titled "Atlanta Property, Lincoln County, NV " with an effective date of October 6, 2020 , and a report date of December 22, 2020 , as prepared by Gustavson Associates and filed under the Company's profile on SEDAR (www.sedar.com).
NI 43-101 Mineral Resources at the Atlanta Mine
Please see the Company's website at www.nevadaking.ca.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements Regarding Forward Looking Information
This news release contains certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating the future operations and activities of Nevada King , are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or" should" occur or be achieved. Forward-looking statements in this news release relate to, among other things, exploration plans and the Company's ability to potentially expand mineral resources and the impact thereon. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by Nevada King , are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the ability to complete proposed exploration work given the global COVID-19 pandemic, the results of exploration, continued availability of capital, and changes in general economic, market and business conditions. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. Nevada King does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.
SOURCE Nevada King Gold Corp.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/September2022/22/c5908.html
Vizsla Silver Corp. (TSXV: VZLA) (NYSE: VZLA) (Frankfurt: 0G3) ("Vizsla" or the "Company") is pleased to report results from 13 new drill holes targeting the Cruz Negra Vein located in the western portion of the district and announces the acquisition of two new claims within the Napoleon area at its 100%-owned, flagship Panuco silver-gold project ("Panuco" or the "Project") located in Mexico. The results are exclusively from the Cruz Negra Vein located 250 metres west of the Napoleon resource ar
If your view of steel mills is smokestacks belching soot, U.S. Steel's chief sustainability officer, Rich Fruehauf, would like a word with you.
Garibaldi Resources (TSXV: GGI) (the "Company" or "Garibaldi") is pleased to announce that diamond drill-hole EL-22-97b has intersected nickel-bearing disseminated and semi-massive sulphide mineralization. The mineralization is hosted by taxitic and orbicular-textured gabbro and pyroxene peridotite 205 meters down-trend of the previous deepest mineralized intercept at E&L on Nickel Mountain. The drill hole targeted the down plunge extension of the eastern zone of the E&L Intrusion, coincident wi
Building a Better IP is our plan for accelerating improvement and creating long-term, sustainable value for all of our stakeholders. Our Vision 2030 goals are an integral part of this plan. They re...
Supply chain issues, inflation and global market conditions are complicating a long-planned push into a new area for the world's biggest gold producer.
Against the current challenging backdrop, it would be prudent to invest in some top-notch dividend-paying steel stocks. TX, GGB, APEMY and ANIOY are worth adding to your portfolio.
SSR Mining Inc. (NASDAQ: SSRM) (TSX: SSRM) (ASX: SSR) ("SSR Mining" or the "Company") is pleased to announce the receipt of the required regulatory approvals from Türkiye's Government authorities and will commence restart of all operations at the Ҫӧpler mine as of September 22nd, 2022.
That seems to be message from the Fed as it gave sobering projections and set the ground for its policy rate to rise at a faster pace and to a higher level than expected. BlackRock, the world's biggest asset manager, expects the Fed to raise rates few more times, with data determining the "veracity" of that and how much longer they will have to go. Rick Rieder, who heads BlackRock's global allocation investment team says that due to slower economic growth, the question now is when the economy will become "Fed Up," with rising rates and tighter liquidity and begin adjusting demand relative to these much tighter monetary conditions.
The Securities and Exchange Commission and Justice Department have filed parallel cases alleging that John Mendes got insider information from a friend and bought up shares in a company that was about to be acquired.
(Bloomberg) -- The cryptocurrency industry’s epic shakeout, having cost thousands of jobs and set off a round of consolidation, is reaching the corner office. Most Read from BloombergBank of England Says Paper Banknotes Only Good for One More WeekJapan to Restore Visa-Free Travel From Oct. 11 as Covid Pandemic Recedes Risk Assets Crushed With Few Signs Drama Is Over: Markets WrapUnless Rents Rise, Housing Is Set Up for an Epic CrashSouth Korea President Caught on Hot Mic Insulting US CongressCry
Baidu Inc. (BIDU) closed the most recent trading day at $118.82, moving -0.63% from the previous trading session.
From biotech to managed care, companies are tackling new challenges in science and business. Our healthcare roundtable experts pick 12 stocks that could win.
Oil futures declined Friday, with U.S. prices dropping below $80 a barrel to settle at their lowest since January. "Economic turmoil is putting oil on track for its first quarterly loss in two years as the market focuses on the potential coming recession inspired by aggressive Federal Reserve policy, and is not focused currently on the undersupplied supply squeeze that is facing the world this winter," Phil Flynn, senior market analyst at The Price Futures Group, in a Friday report. November WTI
(Reuters) -FedEx Corp's new chief executive must show he can play catch up on costs without further eroding service, Wall Street analysts said on Friday, after the global delivery company laid out plans to slash up to $2.7 billion in expenses for fiscal 2023. FedEx's plan announced on Thursday escalates pressure on CEO Raj Subramaniam to address internal missteps and adjust to a darkening global economy that hammered the company's fiscal first-quarter profits. Some analysts said they are no longer giving the CEO - who succeeded FedEx founder Fred Smith in June - the benefit of the doubt.
Tesla (TSLA) job postings reveal the electric vehicle maker is doubling down on humanoid robots.
On Thursday, the Federal Reserve Bank of New York said that a day after the U.S. central bank pushed up its short-term target rate by a large 0.75 percentage point to between 3% and 3.25%, money-market funds and others parked a record $2.359 trillion at the New York Fed’s reverse repo facility. The Fed’s reverse repo tool takes in cash, primarily from money-market funds. After the Fed’s rate rise Wednesday, the rate now stands at 3.05%, up from 2.30% in place before the Fed lifted rates.
Yesterday, the FDA's Oncologic Drugs Advisory Committee (ODAC) panel voted against Spectrum Pharmaceuticals Inc's (NASDAQ: SPPI) poziotinib's (pozi) risk/benefit ratio and concluded that pozi's benefits do not outweigh the risks for the treatment of HER2 exon 20 insertion mutations. Meanwhile, with a newly approved commercial product Rolvedon launching into the $2.3 billion G-CSF space, JMP Securities believes that Spectrum shares still represent a unique investment opportunity with a 34% potent
Interest rate hikes terrify most S&P 500 investors. And for good reason. But ETFs offer a low-risk way to actually make money.
Buying a stock is easy, but buying the right stock without a time-tested strategy is incredibly hard. So what are the best stocks to buy now or put on a watchlist?
As the Fed kneecaps the U.S economy, the economics of an LNG export facility are still quite strong.