Nevada King Gold Updates On Phase III Drill Program Progress

Nevada King Gold Provides Phase III Drill Program Update

Nevada King Gold Corp. is excited to share the latest developments in its Phase III regional drill program at its expansive Atlanta Gold Mine Project. The project covers an impressive 12,000 hectares and is strategically located along the renowned Battle Mountain Trend.

Drilling Progress Overview

Since kicking off the Phase III drill program, Nevada King has made significant strides by completing 26 reverse circulation (RC) drill holes, amounting to 6,600 meters out of a planned 20,000 meters. Following a brief pause for the holiday season, drilling operations have resumed, with two rigs actively tapping into the rich geological potential of the Atlanta site.

Primary Objectives of the Drill Program

The overarching goal of this drilling initiative is to broaden mineralization southward from the Atlanta resource zone. The focus areas include the newly identified South Quartzite Ridge Target (SQRT) and several new satellite deposits located throughout the district. By zeroing in on promising geological areas where geophysical anomalies match with significant structural features, the team aims to unlock further mineral wealth.

Details about the SQRT Target

The SQRT stretches 2.5 kilometers south from the current resource zone and has a width of approximately 500 meters. This expansive target is thought to be hosting potential mineral deposits, possibly linked to feeder structures that may have channeled mineralizing fluids trapped under a protective quartzite layer. Through meticulous drilling, the company aims to uncover these zones and determine the extent of their presence.

Regulatory Advances and Proposed Modifications

Recently, the company submitted a modification request to the Bureau of Land Management, which if approved, would facilitate the establishment of 47 new drill sites along with 1.9 kilometers of fresh roadways in the Atlanta district. These additions will allow enhanced exploration across promising targets such as Outlaw, Mustang, Silver Park, and Rangefront.

Exciting New Discoveries

Among the exciting aspects of this update are 13 proposed drill pads situated three kilometers north of the resource zone in an area that has previously evaded examination. Initial surface sample results from small outcrops in this zone have returned gold values as high as 0.82 grams per tonne, indicating the area's untapped potential.

Expert Insights from Exploration Management

Cal Herron, the Exploration Manager at Nevada King, expressed optimism regarding the ongoing drill program. He noted that the regional reconnaissance holes drilled earlier focused on anomalies detected east of the primary resource zone. The current focus involves structural zones shaped by gravity and drone magnetic data to trace potential satellite deposits. The company is dedicated to exploring a diverse range of geological environments to identify robust hydrothermal systems capable of nurturing these deposits.

Stock Option Grants for Strategic Growth

In alignment with corporate governance principles, Nevada King has granted a total of 6,800,000 fully-vested stock options to its directors and officers. These options can be converted into common shares at a price of $0.35 and remain valid until January 6, 2030.

Quality Assurance and Control Measures

The quality of drilling operations is crucial. All samples from the Atlanta project undergo a rigorous QA/QC protocol. At the drill site, samples are processed and sent to American Assay Lab in Reno, maintaining full custody throughout the analytical process.

About Nevada King Gold Corp.

Nevada King Gold has positioned itself as a key player in the gold sector with the Atlanta Mine serving as a historical gold and silver producer. The current NI 43-101 compliant resource estimates highlight the potential of 460,000 ounces of gold in the measured and indicated category, underlining the company’s commitment to defining and expanding its mineral resources.

Frequently Asked Questions

What is the focus of Nevada King's Phase III drill program?

The focus is to expand mineralization from the Atlanta resource zone into new targeted areas, including the South Quartzite Ridge Target, and to find new satellite deposits.

How many meters of drilling are planned for the Phase III program?

A total of 20,000 meters of drilling is planned for the Phase III program, with 6,600 meters already completed.

What is the significance of the SQRT target?

The SQRT target is believed to be a promising area for mineral deposits and measures 2.5 kilometers in length and 500 meters in width.

How does Nevada King ensure the quality of its sampling?

The company implements a rigorous QA/QC protocol, including sample splitting and sending samples to a certified laboratory for analysis.

What stock options has the company granted recently?

Nevada King has granted 6,800,000 stock options to its directors and officers, with options priced at $0.35 each, valid until January 6, 2030.

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