Nevada King Gold Corp Reports Major Resource Increase
Significant Resource Milestone at Atlanta Gold Mine
Nevada King Gold Corp. (TSXV: NKG) (OTCQB: NKGFF) is excited to share an impressive update on the Mineral Resource Estimate (MRE) from the Atlanta Gold Mine Project. This extensive project, which covers an area of 12,000 hectares, has seen a remarkable increase in resources, now accounting for 1,019,600 ounces of gold with an average grade of 1.14 g/t. This is more than double the previous estimate established in 2020, underscoring the significant advances the company has made in resource exploration and development.
Resource Highlights
The newly revised MRE, prepared by RESPEC, indicates a substantial increase in the Measured and Indicated (M&I) resources which now stand at 27.7 million tonnes. Most notably, an impressive 91% of the gold is categorized within the M&I categories, ensuring higher confidence levels in the resource's containment.
- M&I Resources: 1,019,600 ounces of contained gold, showing a 122% increase compared to the previous estimate.
High-Grade Gold Resources
The Atlanta Project also reveals a high-grade core within the M&I resources. This core contains 524,000 ounces of gold, averaging a remarkable grade of 3.99 g/t Au at a cut-off grade of 2 g/t AuEq. This highlights the quality of the resources present and demonstrates that the current grade exceeds that of the previous estimates significantly.
Potential for Further Discoveries
The updated resource estimate does not account for mineralization found in the Phase III drilling endeavors, which includes noteworthy discoveries at locations such as Silver Park. Management envisions extensive potential for ongoing resource expansion due to indications of mineralization that remain open in various directions from the current resource zone.
Exploration and Future Plans
Nevada King's CEO, Collin Kettell, expressed his enthusiasm regarding this milestone, emphasizing the strategic significance of the updated MRE as a foundation for continued exploration. The company is keen on unlocking the full potential of the Atlanta district and is embarking on an extensive Phase III exploration drill program. This fully funded effort aims to expand upon the successful Phase I and II drilling campaigns that contributed to the latest MRE.
Commitment to Quality
The exploration team's dedication is reflected in their commitment to high standards of resource evaluation. As part of their ongoing efforts, Nevada King employs rigorous QA/QC protocols to ensure the integrity of the data and estimates being reported.
About Nevada King Gold Corp.
Nevada King Gold Corp. is dedicated to advancing its 100% owned Atlanta Gold Mine project, focused on utilizing conventional mining practices to develop the mineral potential of this historically rich area. The recent discoveries not only illustrate the viability of the project but also highlight Nevada King's strategic approach to resource development and exploration.
Frequently Asked Questions
What are the updated gold resources at the Atlanta Gold Mine?
The recent update indicates that the gold resources at the Atlanta Gold Mine have exceeded 1,019,600 ounces averaging 1.14 g/t Au.
Who prepared the recent mineral resource estimate?
The recent mineral resource estimate was prepared by RESPEC, a reputable engineering firm known for its work with Nevada-based deposits.
What is the significance of the high-grade core?
The high-grade core consists of 524,000 ounces of gold at an average grade of 3.99 g/t, emphasizing the quality of the mineralization at the site.
What are the future plans for exploration?
The company is launching a Phase III exploration drill program that intends to capitalize on the recent successes and expand on the known mineral resources.
How does Nevada King ensure the quality of their data?
Nevada King implements stringent QA/QC protocols throughout their exploration process to maintain data integrity and reliability in their mineral resource estimates.
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