Nevada King Gold Corp Significantly Increases Gold Resource at Atlanta Mine to Over 1 Million Ounces
Nevada King Gold Corp. has recently released an impressive update regarding its Atlanta Gold Mine Project, indicating a more than doubling of the measured and indicated mineral resources. The latest estimate reveals a total of 1,019,600 gold ounces, with an average grade of 1.14 grams per tonne (g/t), a substantial 122% increase from previous estimates in 2020. This development marks a significant milestone for the company as it solidifies its position within the prolific Battle Mountain Trend, located approximately 264 kilometers northeast of Las Vegas, Nevada.
The updated mineral resource estimate (MRE) was compiled by RESPEC, an esteemed engineering firm known for its extensive experience with Nevada mining deposits. It encompasses an area of 12,000 hectares (around 120 km²) that Nevada King fully owns. The new estimate shows that 91% of the total gold ounces are categorized within the higher confidence measured and indicated categories, with only 9% falling under inferred resources. This indicative reliability of the resources showcases the success of the company’s Phase I and II resource definition drilling campaigns.
Among the highlights of the MRE is a high-grade core comprising 524,000 ounces of gold averaging an outstanding grade of 3.99 g/t. The increase is attributed to well-defined drilling efforts leading to discovery and delineation of higher-grade material, with several drilled holes yielding thicker and more concentrated results than anticipated. This notable advancement signals a promising trajectory for resource growth, particularly includes ongoing exploration plans.
Management at Nevada King believes there is still considerable potential for resource expansion based on the recent Phase III drilling campaign, which aims to explore additional areas adjacent to the previously identified resource zone. Field operations at Silver Park and other nearby locations show favorable mineralization patterns that could lead to the discovery of new high-grade sections.
Collin Kettell, CEO of Nevada King, expressed enthusiasm over the numbers presented in this updated MRE and stated that exceeding the 1 million ounce threshold in the measured and indicated category alongside maintaining a strong grade of mineralization indicates remarkable progress and validates their ongoing drilling and geological model.
Cal Herron, Exploration Manager of the company, emphasized the uniqueness of the Atlanta system, underscoring the successful phase two drill program that significantly contributed to the MRE upgrade. He also highlighted how this robust update encourages continued support for extensive exploration efforts aimed at creating a substantial and economically viable mining asset.
With plans already underway for an aggressive Phase III exploration program, which has been expanded to 30,000 meters, Nevada King is committed to advancing its project by seeking out new zones of high-grade deposits while continuing to evaluate existing resources through further metallurgical tests and environmental assessments. As exploration continues in the newly identified resource zones, Nevada King is optimistic about authenticating the multi-million-ounce potential of the Atlanta district.
Nevada King's ambition to translate its estimation into actual reserves will be a priority moving forward as they aim to validate the economic viability of their discovered resources while properly adhering to industry standards. The full potential of the Atlanta district signifies a major milestone for Nevada King Gold Corp., allowing the company to reaffirm its position as a formidable player in the gold mining sector.
In conclusion, with a clear commitment to exploration and an expanding resource estimate, Nevada King seems poised for a bright future marked by significant opportunities in the mining industry.
Significant Resource Update
The updated mineral resource estimate (MRE) was compiled by RESPEC, an esteemed engineering firm known for its extensive experience with Nevada mining deposits. It encompasses an area of 12,000 hectares (around 120 km²) that Nevada King fully owns. The new estimate shows that 91% of the total gold ounces are categorized within the higher confidence measured and indicated categories, with only 9% falling under inferred resources. This indicative reliability of the resources showcases the success of the company’s Phase I and II resource definition drilling campaigns.
High-Grade Core Resources
Among the highlights of the MRE is a high-grade core comprising 524,000 ounces of gold averaging an outstanding grade of 3.99 g/t. The increase is attributed to well-defined drilling efforts leading to discovery and delineation of higher-grade material, with several drilled holes yielding thicker and more concentrated results than anticipated. This notable advancement signals a promising trajectory for resource growth, particularly includes ongoing exploration plans.
Potential for Further Expansion
Management at Nevada King believes there is still considerable potential for resource expansion based on the recent Phase III drilling campaign, which aims to explore additional areas adjacent to the previously identified resource zone. Field operations at Silver Park and other nearby locations show favorable mineralization patterns that could lead to the discovery of new high-grade sections.
Collin Kettell, CEO of Nevada King, expressed enthusiasm over the numbers presented in this updated MRE and stated that exceeding the 1 million ounce threshold in the measured and indicated category alongside maintaining a strong grade of mineralization indicates remarkable progress and validates their ongoing drilling and geological model.
Cal Herron, Exploration Manager of the company, emphasized the uniqueness of the Atlanta system, underscoring the successful phase two drill program that significantly contributed to the MRE upgrade. He also highlighted how this robust update encourages continued support for extensive exploration efforts aimed at creating a substantial and economically viable mining asset.
Exploration and Future Prospects
With plans already underway for an aggressive Phase III exploration program, which has been expanded to 30,000 meters, Nevada King is committed to advancing its project by seeking out new zones of high-grade deposits while continuing to evaluate existing resources through further metallurgical tests and environmental assessments. As exploration continues in the newly identified resource zones, Nevada King is optimistic about authenticating the multi-million-ounce potential of the Atlanta district.
Nevada King's ambition to translate its estimation into actual reserves will be a priority moving forward as they aim to validate the economic viability of their discovered resources while properly adhering to industry standards. The full potential of the Atlanta district signifies a major milestone for Nevada King Gold Corp., allowing the company to reaffirm its position as a formidable player in the gold mining sector.
In conclusion, with a clear commitment to exploration and an expanding resource estimate, Nevada King seems poised for a bright future marked by significant opportunities in the mining industry.
Topics Business Technology）
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