Le Lézard
Classified in: Mining industry, Business, Covid-19 virus
Subject: ECO

NEVADA KING STRIKES BONANZA OXIDE GOLD WITH 11.64 G/T AU OVER 108.3M, INCLUDING 37.16 G/T AU OVER 29M AT ATLANTA


VANCOUVER, BC, Oct. 2, 2023 /PRNewswire/ - Nevada King Gold Corp. (TSXV: NKG) (OTCQX: NKGFF) ("Nevada King" or the "Company") is pleased to announce assay results from three, vertical reverse circulation ("RC") holes recently completed at its Atlanta Gold Mine Project located 264km northeast of Las Vegas, Nevada, in the prolific Battle Mountain Trend. These holes were drilled northwest of the Atlanta pit to fill-in drill hole gaps across the northern part of the West Atlanta Graben Zone ("WAGZ") identifed in Section 22-15N initially reported on April 27, 2023. The three holes reported today are plotted on plan and section in Figures 2 and 3.

Highlights:

Hole No.

From (m)

To (m)

Interval (m)

Au (g/t)

Ag (g/t)

AT23WS-44

214.9

323.2

108.2

11.64

17.4

Includes

274.4

303.4

29.0

37.16

34.4

Includes

283.5

286.6

3.0

162.6

15.6

 

Table 1. Highlight hole released today. This hole is interpreted to have intersected a sub vertical feeder zone cutting through a flat-lying horizon of mineralization that generally dips westward. For discussion of true thickness, see detailed interpretation section and accompanying discussion below.

 

Figure 1. Conceptual cross section across high-grade feeder zone hit in AT23WS-44 utilizing a generalized Carlin-type geological model. Gold is preferentially deposited within the 70m to 100m thick replacement horizon consisting of receptive carbonate beds, while the high-grade core forms around the structural intersection of this near-horizontal replacement horizon with the West Atlanta Fault #1 that served as the feeder structure that channeled mineralizing fluids into the receptive horizon. (CNW Group/Nevada King Gold Corp.)

Figure 1. Conceptual cross section across high-grade feeder zone hit in AT23WS-44 utilizing a well known, generalized Carlin-type geological model. Gold is preferentially deposited within the 70m to 100m thick replacement horizon consisting of receptive carbonate beds, while the high-grade core forms around the structural intersection of this near-horizontal replacement horizon with the West Atlanta Fault #1 that served as the feeder structure that channeled mineralizing fluids into the receptive horizon. Figure adapted from: Robert et al (2007), and Zhou (2009), "Multi-scale integrated application of spectral geology and remote sensing for mineral exploration," Conference Exploration 17, Toronto, 2017.

Hole No.

From (m)

To (m)

Interval (m)

Au (g/t)

AuCN (g/t)

Ag (g/t)

AT23WS-44

274.4

275.9

1.5

25.92

22.23

14.3

AT23WS-44

275.9

277.4

1.5

22.52

18.81

13.7

AT23WS-44

277.4

279.0

1.5

16.60

16.06

17.6

AT23WS-44

279.0

280.5

1.5

30.00

25.08

21.3

AT23WS-44

280.5

282.0

1.5

57.15

43.99

14.2

AT23WS-44

282.0

283.5

1.5

34.57

28.12

13.4

AT23WS-44

283.5

285.1

1.5

169.80

>100

13.2

AT23WS-44

285.1

286.6

1.5

155.40

>100

18

AT23WS-44

286.6

288.1

1.5

47.95

41.80

40.2

AT23WS-44

288.1

289.6

1.5

13.20

11.78

27.5

AT23WS-44

289.6

291.2

1.5

13.88

11.97

23.5

AT23WS-44

291.2

292.7

1.5

6.68

5.31

33.2

AT23WS-44

292.7

294.2

1.5

11.92

9.60

46.6

AT23WS-44

294.2

295.7

1.5

18.05

15.87

42.8

AT23WS-44

295.7

297.3

1.5

13.55

11.02

42.9

AT23WS-44

297.3

298.8

1.5

11.22

10.17

75.8

AT23WS-44

298.8

300.3

1.5

13.37

11.50

47.3

AT23WS-44

300.3

301.8

1.5

19.60

14.73

64.3

AT23WS-44

301.8

303.4

1.5

25.12

20.05

83.6

 

Table 2. Assay results for 29m thick high grade oxide interval averaging 37.16g/t Au in AT23WS-044 on a 1.52m basis. Gold grades being reported are based on averaging the 30gm ICP analyses with the corresponding gravimetric analyses.

Cal Herron, Exploration Manager of Nevada King, stated, "Today's high-grade interval in AT23WS-44 gives us another starting point for tracking higher-grades proximal to high-angle feeder structures cutting up through the flat lying horizons that correlate to stratigraphy hosting most of the gold at Atlanta ? namely the silica breccia and overlying silicified volcanic horizons. As seen in Figures 1 and 3, the rhyolitic intrusive breccia hosting the highest grade mineralization in the hole probably intruded along the WAF1 and will be easy to visually track in the up-coming offset holes of AT23WS-44 that will be drilled to further expand upon this "bonanza grade" mineralization. It is important to note that the high-grade "core" mineralization seen in AT23WS-44 (29m @ 37.16 g/t Au) is not related to a narrow vein that was drilled down, but rather occurs within the same flat-lying replacement horizon penetrated in surrounding holes at similar elevation ? i.e. 1741m?1770m a.s.l (above sea level). For example, nearby holes in the northern portion of the WAGZ intersected the following high-grade mineralization ? 

Elsewhere within the Atlanta resource zone we see very similar elevation control over high-grade mineralization.  Examples near the East Atlanta Fault within the AMFZ include ?

The same pattern is apparent across the southern portion of the WAGZ ?

The high grade intercepts cited above occur within discrete groups or clusters located across the entire resource zone, with holes in each cluster sharing the same elevation ranges. This argues strongly for the high-grades being hosted within near-horizontal replacement horizons versus narrow, high-angle faults/veins. If these intercepts occurred along high-angle fault surfaces, we would not see a uniform horizontal geometry, instead the intercept elevations within an individual cluster of holes proximal to each other would indicate a steeply dipping plane. Close-spaced drilling along suspected high-grade zones has now provided Nevada King with enough information to concentrate on drill-defining these relatively narrow (<20m wide) but very high-grade, linear intersection zones involving high-angle "feeder" faults and flat-lying replacement horizons." 

Figure 2. Location map for holes reported in this news release along drill Section22-15N(2) relative to the perimeter of the historical Atlanta Pit and footprint of the Gustavson 2020 NI 43-101 resource. Shallow drillholes on the mine dumps have been removed from the plot for clarity. (CNW Group/Nevada King Gold Corp.)

Figure 2. Location map for holes reported in this news release along drill Section22-15N(2) relative to the perimeter of the historical Atlanta Pit and footprint of the Gustavson 2020 NI 43-101 resource. Shallow drillholes on the mine dumps have been removed from the plot for clarity.

Figure 3.  Cross section 22-15N(2) looking north across the northern portion of the Atlanta Mine Fault Zone and West Atlanta Graben Zone. (CNW Group/Nevada King Gold Corp.)

Figure 3.  Cross section 22-15N(2) looking north across the northern portion of the Atlanta Mine Fault Zone and West Atlanta Graben Zone. 

Additional Details:
Detailed Interpretation:

The Company's interpretation of today's highlight interval is that gold mineralizing fluids have migrated laterally from the high-angle WAF1 (the feeder structure) into a larger receptive, flat-lying breccia horizon with gold grades generally decreasing gradationally with horizontal distance from the feeder structure (Figure 1). The Company does not have sufficient data to accurately estimate true width of the high grade feeder structure, but true thickness of the high grade zones within the overall flat-lying mineralized horizon is far more apparent. As an example, simply comparing the 29m-thick high grade intercept (37.16 g/t Au) in AT23WS-44 with the 27.4m high grade intercept (4.67 g/t Au) in AT23WS-20 illustrates the flat-lying nature of the high grade horizon connecting these two holes. The mineralized zone in AT23WS-44 starts at an elevation of 1770m a.s.l. (above sea level) while the same mineralized horizon in AT23WS-20, located 21m to the west of AT23WS-44, starts at an elevation of 1758m a.s.l. This flat-lying geometry to the replacement horizon is noted throughout the Atlanta deposit as discussed above.

Hole No.

From (m)

To (m)

Interval (m)

Au (g/t)

Ag (g/t)

AT23WS-44

214.9

216.5

1.5

1.47

<0.5

AT23WS-44

216.5

218.0

1.5

1.51

<0.5

AT23WS-44

218.0

219.5

1.5

2.72

<0.5

AT23WS-44

219.5

221.0

1.5

1.70

<0.5

AT23WS-44

221.0

222.6

1.5

0.85

<0.5

AT23WS-44

222.6

224.1

1.5

0.40

<0.5

AT23WS-44

224.1

225.6

1.5

0.26

<0.5

AT23WS-44

225.6

227.1

1.5

0.27

<0.5

AT23WS-44

227.1

228.7

1.5

0.72

0.8

AT23WS-44

228.7

230.2

1.5

0.76

0.9

AT23WS-44

230.2

231.7

1.5

0.33

2.1

AT23WS-44

231.7

233.2

1.5

0.24

2.9

AT23WS-44

233.2

234.8

1.5

0.39

2.5

AT23WS-44

234.8

236.3

1.5

0.22

2.5

AT23WS-44

236.3

237.8

1.5

0.24

5

AT23WS-44

237.8

239.3

1.5

0.51

8.1

AT23WS-44

239.3

240.9

1.5

1.26

8

AT23WS-44

240.9

242.4

1.5

1.83

9.2

AT23WS-44

242.4

243.9

1.5

3.41

9.1

AT23WS-44

243.9

245.4

1.5

5.85

15.5

AT23WS-44

245.4

247.0

1.5

3.84

9

AT23WS-44

247.0

248.5

1.5

3.57

7.1

AT23WS-44

248.5

250.0

1.5

1.82

4.9

AT23WS-44

250.0

251.5

1.5

2.15

6.9

AT23WS-44

251.5

253.0

1.5

6.68

11.6

AT23WS-44

253.0

254.6

1.5

9.88

18.3

AT23WS-44

254.6

256.1

1.5

5.72

12.7

AT23WS-44

256.1

257.6

1.5

3.23

12.2

AT23WS-44

257.6

259.1

1.5

0.35

7.5

AT23WS-44

259.1

260.7

1.5

0.09

6.3

AT23WS-44

260.7

262.2

1.5

0.13

6.1

AT23WS-44

262.2

263.7

1.5

0.15

5.8

AT23WS-44

263.7

265.2

1.5

0.31

14.6

AT23WS-44

265.2

266.8

1.5

0.54

12.2

AT23WS-44

266.8

268.3

1.5

0.81

25.2

AT23WS-44

268.3

269.8

1.5

0.98

20.6

AT23WS-44

269.8

271.3

1.5

1.35

25.7

AT23WS-44

271.3

272.9

1.5

1.54

11

AT23WS-44

272.9

274.4

1.5

8.96

12.1

AT23WS-44

274.4

275.9

1.5

25.92

14.3

AT23WS-44

275.9

277.4

1.5

22.52

13.7

AT23WS-44

277.4

279.0

1.5

16.60

17.6

AT23WS-44

279.0

280.5

1.5

30.00

21.3

AT23WS-44

280.5

282.0

1.5

57.15

14.2

AT23WS-44

282.0

283.5

1.5

34.57

13.4

AT23WS-44

283.5

285.1

1.5

169.80

13.2

AT23WS-44

285.1

286.6

1.5

155.40

18

AT23WS-44

286.6

288.1

1.5

47.95

40.2

AT23WS-44

288.1

289.6

1.5

13.20

27.5

AT23WS-44

289.6

291.2

1.5

13.88

23.5

AT23WS-44

291.2

292.7

1.5

6.68

33.2

AT23WS-44

292.7

294.2

1.5

11.92

46.6

AT23WS-44

294.2

295.7

1.5

18.05

42.8

AT23WS-44

295.7

297.3

1.5

13.55

42.9

AT23WS-44

297.3

298.8

1.5

11.22

75.8

AT23WS-44

298.8

300.3

1.5

13.37

47.3

AT23WS-44

300.3

301.8

1.5

19.60

64.3

AT23WS-44

301.8

303.4

1.5

25.12

83.6

AT23WS-44

303.4

304.9

1.5

8.11

93.3

AT23WS-44

304.9

306.4

1.5

7.41

66.1

AT23WS-44

306.4

307.9

1.5

2.38

10.0

AT23WS-44

307.9

309.5

1.5

1.79

8.8

AT23WS-44

309.5

311.0

1.5

1.67

12.6

AT23WS-44

311.0

312.5

1.5

0.88

8.7

AT23WS-44

312.5

314.0

1.5

1.29

5.4

AT23WS-44

314.0

315.5

1.5

1.22

6.3

AT23WS-44

315.5

317.1

1.5

6.38

12.8

AT23WS-44

317.1

318.6

1.5

6.81

20.0

AT23WS-44

318.6

320.1

1.5

2.01

11.2

AT23WS-44

320.1

321.6

1.5

2.09

15.5

AT23WS-44

321.6

323.2

1.5

1.39

11.4

 

Table 3. Assay results for 108m thick high-grade oxide interval averaging 11.65 g/t Au in AT23WS-44 on a 1.52m basis.

Hole No.

From (m)

To (m)

Interval (m)

Au (g/t)

Ag (g/t)

Notes

AT23WS-44

214.9

323.2

108.2

11.65

17.4


Includes

274.4

303.4

29.0

37.18

34.4


Includes

283.5

286.6

3.0

162.6

15.6


AT23WS-25A

318.6

343.0

24.4

1.19

11.7

Bottomed in Mineralization

AT23WS-41

335.4

358.2

22.9

0.29

15.1


 

Table 4. All holes reported today along Section22-15N. Mineralization occurs along flat-lying horizons generally dipping gently westward; true mineralized thickness in vertical holes is estimated to be between 85% and 95% of reported drill intercept length.

Hole No.

From (m)

To (m)

Interval (m)

Au (g/t)

Ag (g/t)

Notes

AT23WS-22

288.0

330.8

42.8

5.64

6.7

Bottomed in Mineralization

Includes

292.7

300.3

7.6

28.5

10.7


AT23WS-21

280.5

343.0

62.5

0.31

3.3


AT22WS-4

279.0

346.0

67.0

2.07

12.1


Includes

317.1

333.8

16.7

3.63

12.6


AT23WS-20

275.9

337.0

61.1

3.04

21.4

Bottomed in Mineralization

Includes

286.6

291.2

4.6

15.84

19.8


AT23WS-5C

207.3

320.0

112.7

1.08

14.8

Bottomed in Mineralization

AT23NS-104

198.2

244.0

45.8

0.35

5.0


AT23NS-103

192.1

202.7

10.6

0.37

3.4


AT23NS-102

129.5

141.8

12.3

0.41

23.4


And

166.2

190.5

24.3

0.40

5.2


AT23NS-101

71.6

111.3

39.7

0.17

19.1


 

Table 5. Previously reported holes used along updated Section 22-15N. AT22 series holes were drilled by Nevada King in 2022 and the AT21 series holes were drilled in 2021. True thickness of gold mineralization interpreted in today's release is 95% to 100% of the reported intercept length in vertical holes. *Denotes holes that bottomed in mineralization. ^Denotes angle hole.

Hole No.

From (m)

To (m)

Interval (m)

Au (g/t)

Ag (g/t)

Notes

DHRI-11-NRC4

317.1

353.7

36.6

1.71

6.8


KR98-21*

242.4

262.2

19.8

1.19

1.6

Bottomed in Mineralization

 

Table 6: Historical holes used in Section 22-15N. KR98 series hole was drilled by Kinross in 1998. DHRI series hole was drilled by Meadow Bay in 2011. Mineralization occurs along flat-lying horizons generally dipping gently westward; true mineralized thickness in vertical holes is estimated to be between 85% and 95% of reported drill intercept length.
*Denotes angle hole.

QA/QC Protocols

All Reverse Circulation (RC) samples from the Atlanta Project are taken at 1.5 m intervals, split at the drill site and placed in cloth and plastic bags utilizing a nominal 2kg sample weight. Certified Reference Material (CRM) standards, blanks, and blind duplicates are inserted into the sample stream on-site on a one-in-twenty sample basis, meaning all three control inserts are included in each 20-sample group. Samples are shipped by a local contractor in large sample shipping crates directly to American Assay Lab in Reno ("AAL"), Nevada, with full custody being maintained at all times. At AAL, samples were weighed then crushed to 75% passing 2mm and pulverized to 85% passing 75 microns in order to produce a 300g pulverized split. Prepared samples are initially run using a four acid + boric acid digestion process and conventional multi-element ICP-OES analysis. Gold assays are initially run using 30-gram samples by lead fire assay with an OES finish to a 0.003 ppm detection limit, with samples greater than 10 ppm finished gravimetrically. Every sample is also run through a cyanide leach for gold with an ICP-OES finish. For Au values above 10 g/t, AAL routinely re-assays samples using a 30gm gravimetric fire assay. For the 29m high grade interval in AT23WS-44, AAL inserted three lab duplicates that results in percent differences of 1.80%, 2.48%, and 2.59%. No visible gold was logged in this hole. Sample weights were consistent. 

Table 7 contains the complete assay report for the interval 195.1m to T.D. at 330.8m for AT23WS-44 showing sample weights as received at American Assay Lab plus lab blank, duplicate, and CRM standards along with Nevada King's inserted field blanks, duplicates, and CRM standards. The high grade intervals were assayed by 30gm fire with ICP finish and then check-assayed via 30 gm gravimetric fire assay. Gold cyanide solubility assays were performed on every sample. As seen in Table 6, the 30gm ICP analyses match closely with the gravimetric analyses, indicating minimal nugget effect and high reproducibility. The consistent Au cyanide analyses indicate strong oxidation and little evidence of significant sulfide encapsulation. Fairly consistent sample weights indicate good, overall RC recovery, particularly within the very high grade intervals, to the extent that down-hole contamination from upper high grade intervals is unlikely. When 10m to 20m lengths of low sample weights occur, or sustained lack of sample recovery occurs, then down-hole contamination is more likely to occur. This is not the case with AT23WS-44.                                                                                                                                        





Wt

Au

Au

Au





BRPP2KG

FAPB30-ICP

GRAVAu30

AuCN30





0.01

0.003

0.103

0.01

SAMPLES

Comments

From (m)

To (m)

Weight (kg)

ppm

ppm

ppm

1880368


195.1

201.2

5.30

-0.003


-0.01

1880368-X

AAL dup of 1880368




0.003


-0.01

1880369


201.2

207.3

7.90

0.011


0.01

1880370


207.3

213.4

6.50

-0.003


-0.01

1880371


213.4

214.9

1.30

0.047


0.05

1880372


214.9

216.5

4.40

1.470


1.46

1880373


216.5

218.0

6.70

1.510


1.12

1880374


218.0

219.5

2.00

2.720


2.44

1880375

NKG dup of 1880374



1.20

3.490


2.63

1880376


219.5

221.0

7.90

1.700


1.29

STD- OxC168

AAL STD (0.213 g/t Au)




0.223


0.22

1880377


221.0

222.6

0.90

0.848


0.65

1880377-X

AAL dup. of 1880377




0.832


0.64

1880378


222.6

224.1

5.80

0.399


0.37

1880379


224.1

225.6

3.20

0.260


0.24

1880380

NKG blank



0.70

0.005


-0.01

1880381


225.6

227.1

4.60

0.271


0.24

1880382


227.1

228.7

3.60

0.720


0.65

1880383


228.7

230.2

6.50

0.759


0.60

1880384


230.2

231.7

5.40

0.325


0.26

1880385

NKG STD (1.081 g/t Au)




1.110


0.96

1880386


231.7

233.2

6.60

0.243


0.20

1880387


233.2

234.8

1.60

0.390


0.32

1880388


234.8

236.3

3.70

0.220


0.17

BLANK

AAL blank




-0.003


-0.01

1880389


236.3

237.8

2.70

0.236


0.23

1880390

NKG dup of 1880389



4.00

0.319


0.23

1880390-X

AAL dup of 1880390




0.306


0.24

1880391


237.8

239.3

7.70

0.508


0.46

1880392


239.3

240.9

2.70

1.260


1.07

1880393


240.9

242.4

3.40

1.830


1.52

1880394


242.4

243.9

7.60

3.410


2.76

1880395


243.9

245.4

6.20

5.850


5.04

1880396


245.4

247.0

3.50

3.840


3.39

1880397


247.0

248.5

6.20

3.570


3.06

1880398


248.5

250.0

5.70

1.820


1.57

STD- CDN-CM-47

AAL STD (1.13 g/t Au)




1.140


1.06

1880399


250.0

251.5

7.60

2.150


1.73

1880399-X

AAL dup. of 1880399




2.210


1.67

1880400


251.5

253.0

2.70

6.680


6.44

1880401


253.0

254.6

7.10

9.880


8.29

1880402


254.6

256.1

5.80

5.720


5.62

1880403


256.1

257.6

4.30

3.230


2.97

1880404


257.6

259.1

1.60

0.348


0.30

1880405

NKG dup. of 1880404



3.00

0.213


0.20

1880406


259.1

260.7

4.60

0.088


0.07

1880406-X

AAL dup. of 1880406




0.090


0.07

BLANK

AAL blank




-0.003


-0.01

1880407


260.7

262.2

0.90

0.128


0.10

1880408


262.2

263.7

2.50

0.146


0.08

1880409


263.7

265.2

2.50

0.311


0.30

1880410

NKG blank



0.60

0.003


-0.01

1880411


265.2

266.8

5.60

0.542


0.42

1880412


266.8

268.3

4.90

0.808


0.67

1880413


268.3

269.8

2.10

0.975


0.75

1880414


269.8

271.3

3.70

1.350


1.30

1880415

NKG STD (0.056 g/t Au)




0.071


0.05

1880416


271.3

272.9

1.30

1.540


1.43

1880417


272.9

274.4

2.20

8.960


7.45

1880417-X

AAL dup of 1880417




8.800


7.17

1880418


274.4

275.9

3.20

25.500

26.333

22.23

1880419


275.9

277.4

2.70

22.500

22.533

18.81

1880420

NKG dup of 1880419



3.80

20.900

22.200

18.81

1880421


277.4

279.0

2.80

16.200

17.000

16.06

1880422


279.0

280.5

1.40

29.800

30.200

25.08

STD - SK120

AAL STD (4.075 g/t Au)




4.030


3.95

1880423


280.5

282.0

6.90

57.100

57.200

43.99

1880423-X

AAL dup of 1880423




55.700


42.47

1880424


282.0

283.5

6.30

34.600

34.533

28.12

1880425


283.5

285.1

7.30

>100

169.800

>100

1880426


285.1

286.6

5.60

>100

155.400

>100

1880427


286.6

288.1

6.80

47.600

48.067

41.80

1880428


288.1

289.6

4.30

12.600

13.400

11.78

1880429


289.6

291.2

1.20

13.500

14.000

11.97

1880430


291.2

292.7

8.20

6.680


5.31

1880431


292.7

294.2

7.00

11.700

12.133

9.60

1880431-X

AAL dup of 1880431




11.400


9.50

1880432


294.2

295.7

0.90

17.900

18.200

15.87

1880433


295.7

297.3

5.50

13.300

13.800

11.02

1880434


297.3

298.8

4.50

11.100

11.333

10.17

1880435

NKG dup of 1880434



3.40

11.900

12.267

10.07

STD - OxC168

AAL STD (0.213 g/t Au)




0.222


0.22

1880436


298.8

300.3

1.00

13.400

13.333

11.50

1880437


300.3

301.8

3.70

20.000

19.200

14.73

1880438


301.8

303.4

1.20

24.500

25.733

20.05

1880439


303.4

304.9

1.30

8.110


7.09

1880440

NKG blank



0.60

-0.003


-0.01

1880441


304.9

306.4

1.00

7.410


6.03

1880441-X

AAL dup of 1880441




7.180


6.07

1880442


306.4

307.9

1.70

2.380


1.96

1880443


307.9

309.5

1.50

1.790


1.54

1880444


309.5

311.0

6.00

1.670


1.38

1880445

NKG STD (0.056 g/t Au)




0.062


0.05

1880446


311.0

312.5

4.20

0.875


0.70

BLANK

AAL blank




-0.003


-0.01

1880447


312.5

314.0

1.60

1.290


1.02

1880447-X

AAL dup of 1880447




1.280


1.04

1880448


314.0

315.5

4.80

1.220


1.00

1880449


315.5

317.1

1.80

6.380


5.44

1880450

NKG dup of 1880449



2.10

6.460


5.16

1880451


317.1

318.6

2.20

6.810


5.61

1880452


318.6

320.1

4.00

2.010


1.75

1880453


320.1

321.6

5.40

2.090


1.79

1880454


321.6

323.2

5.50

1.390


1.10

1880455


323.2

324.7

3.90

0.195


0.16

1880456


324.7

326.2

3.40

0.286


0.20

1880456-X

AAL dup. of 1880456




0.277


0.20

STD - CDN-CM-47

AAL STD (1.13 g/t Au)




1.150


0.93

1880457


326.2

327.7

5.30

0.110


0.09

1880458


327.7

329.3

3.30

0.460


0.39

1880459


329.3

330.8

3.70

0.292


0.24

Table 7. Assay report table from American Assay Lab (AAL) for RC hole AT23WS-044 with AAL's CRM (STD), blank, and duplicate (dup.) sample inserts and Nevada King's (NKG) field inserts.

AAL-inserted CRM Standards:

CDM-CM-47        1.13 g/t Au +/- 0.11 g/t   Canadian Resource Lab. Ltd., Langley B.C.
OxC168                 0.213 g/t Au  +/- 0.002 g/t   Rock Labs, Auckland NZ
SK120                    4.075 g/t Au  +/- 0.03 g/t   Rock Labs, Auckland NZ  

NKG-inserted CRM Standards:

Batch # 75226     0.056 g/t Au  +/- 0.003 g/t   Klen International Pty. Ltd., Neerabup Western Australia
Batch # 73915     1.081 g/t Au  +/- 0.03 g/t    Klen International Pty. Ltd., Neerabup Western Australia

Qualified Person

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 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 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.sedarplus.ca).

Resource Category

Tonnes

(000s)

Au Grade

(ppm)

Contained Au
Oz

Ag Grade

(ppm)

Contained Ag Oz

Measured

4,130

1.51

200,000

14.0

1,860,000

Indicated

6,910

1.17

260,000

10.6

2,360,000

Measured + Indicated

11,000

1.30

460,000

11.9

4,220,000

Inferred

5,310

0.83

142,000

7.3

1,240,000

Table 8. 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, the Company's 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.


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