Nevada King doubles drill program to 60,000 m at Atlanta

News provided by Nevada King Gold Corp. May 04, 2023, 07:30 ET Share this article Share to X Share this article Share to X VANCOUVER, BC , May 4, 2023 /PRNewswire/ - Nevada King Gold Corp. (TSXV: NKG) (OTCQX: NKGFF ) (" Nevada King " or the " Company ") is pleased to announce an increase to 60,000m for its 2023 Phase II resource expansion and definition drilling program at its 5,166 hectare (51.6km 2 ), 100%-owned Atlanta Gold Mine Project, located in the prolific Battle Mountain Trend 264km northeast of Las Vegas, Nevada . Highlights: Continue Reading Figure 1. Atlanta Gold Mine Project target area map. (CNW Group/Nevada King Gold Corp.) Table 1: Highlight intervals from the Phase II drill program at Atlanta. (CNW Group/Nevada King Gold Corp.) The increase to 60,000m doubles the size of Nevada King's Phase II expansion and definition drill program at Atlanta .

On closing of the recently announced $15-million financing the Company will have approximately $20-million of working capital which is sufficient to fully fund this expanded Phase II Atlanta program. Nevada King plans to procure additional rigs to accelerate its drilling program as operational conditions improve through spring and expects to ramp up to a minimum of four rigs by summer. Since the inception of the the Phase II Atlanta drill program in June 2022 Nevada King has completed 185 reverse-circulation (" RC ") holes totaling 29,122m and 14 core holes totaling 1,215m , for a grand total of 30,337m drilled.

To date Nevada King has reported assays from 124 holes covering 17,647m with results from 75 drill holes totalling 12,690m currently pending. The decision to double the size of the drill program resulted from intersecting significant new and thick zones of mineralization and the highest gold and silver grades to date at Atlanta including 28.5 g/t Au over 7.6m and 1,084 g/t Ag over 10.7m . Cal Herron , E