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Nevada King Gold Corp.
Nevada King Gold Corp.
Registriert in: Kanada WKN: A3CMHG Rohstoffe:
Art: Originalaktie ISIN: CA6413531071 Gold
Vanadium
Heimatbörse: TSX Venture Alternativ: NKGFF
Währung: CAD    
Symbol: NKG.V Forum:

Nevada King Reports Positive Metallurgical Test Results, Confirms Suitability Of Conventional Oxide Processing Methods At Atlanta

26.03.2024 | 12:30 Uhr | CNW

VANCOUVER, March 26, 2024 - Nevada King Gold Corp. (TSXV: NKG) (OTCQX: NKGFF) ("Nevada King" or the "Company") is pleased to report results from an extensive Phase I metallurgical testing program at the Atlanta Gold Mine Project, located in the prolific Battle Mountain Trend, 264km northeast of Las Vegas, Nevada. The objective of the Phase I program was to test the various mineralized host rocks at Atlanta for gold and silver extraction, using conventional flowsheet unit operations to guide in selecting a process flowsheet suitable for the commercial extraction of gold and silver from the project. Results of the Phase I test work support strong recoveries utilizing conventional Nevada oxide processing methods for the representative mineralization types present at Atlanta.

Highlights:
  • Phase I testing used three surface bulk samples and 19 composites from drill core comprising the full range of rock types and gold and silver grades encountered across Atlanta. Mineralization at Atlanta can be broadly characterized by two major host domains: 1) Silicified breccias found within and below the main Atlanta unconformity, and 2) Volcanics found above the main Atlanta unconformity (refer to cross sections A-A and B-B in Figures 3-4 below).

  • Results of Phase I support conventional Nevada oxide processing methods for Atlanta whereby:

    • Silicified breccias are amenable to conventional milling for high-grade material and High-Pressure Grinding Roll ("HPGR") crushing and heap leaching for the lower-grade material.

    • Volcanics are amenable to conventional milling for high-grade material and Conventional Crush or Run-of-Mine ("ROM") heap leaching for the lower-grade material.

  • Applicable to process plant scenarios, gold extraction from fine milling at a 200-mesh grind (P80=75µm) show a weighted average extraction of 91.7% for gold hosted in volcanics and 85.9% for the high-grade silica breccias.

  • Silver extraction from fine milling at a 200-mesh grind (P80=75µm) show a weighted average 65.3% in the volcanics and 41.3% in the silica breccias. At coarser crush size silver extractions are similar between the two metallurgical domains.

  • Applicable to heap leach scenarios, gold extraction from conventional crushing (P80=12.5 mm) shows a weighted average extraction of 87.1% for gold hosted in volcanics. Gold extraction from HPGR crushed composites (using medium press force) shows a weighted average 71.4% extraction from low-grade silica breccias.

  • A Phase 2 metallurgical PQ core drilling program has now been completed to fill some gaps in the target resource envelope and further laboratory testing utilizing material from this drilling is scheduled to start later in 2024. The location of these holes can be found in the drill hole plan map below in Figure 2.

Bulk Sample and Phase 1 metallurgical test work at Atlanta has been supervised by Gary Simmons (MMSA QP Number: 01013QP), formerly the Director of Metallurgy and Technology for Newmont Mining Corp. Mr. Simmons has supervised and managed numerous Carlin-style metallurgical testing programs in the Great Basin with characteristics similar to those found at Atlanta.

Mr. Simmons commented, "Historic production at Atlanta focused on near-surface high-grade silica breccia ores that were processed and recovered using conventional oxide milling practices. Historical records (1979-85) indicate recoveries from the silica breccias necessitated a fine-grind milling and Merrill-Crowe recovery process that averaged 81% for gold and 42% for silver at ball mill grind P80 = 120µm (microns). This historical milling operation was challenged by the hard and abrasive nature of the silica breccias, resulting in elevated-maintenance and operating costs in primary, secondary, and tertiary crushing circuits.

"Today's results confirm that conventional oxide milling, and HPGR crush heap-leach or ROM heap-leach, depending on mineralization type, are well suited for processing gold and silver mineralization at Atlanta. Referring to a conceptual Atlanta generalized flowsheet in Figure 1 below, a straightforward process breaks out the host mineralization into their respective silica breccia and volcanic units, running high-grade mineralization through a mill and processing lower grade material via a combination HPGR crush and ROM heap leaching. The adoption of HPGR crushing technology (used at other mines in Nevada and around the world) will eliminate SAG milling of silica breccias and high-grade volcanics that in turn should result in reduced overall operating cost against a conventional SABC (Semi-Autogenous-Ball Mill-Crusher) circuit design. It is anticipated that this process will be more cost-effective than historical methods, resulting in lower process cutoff grades and potential for economic extraction of gold and silver from a larger volume of material."

Collin Kettell, Founder & CEO of Nevada King, stated, "Positive results from the Phase 1 metallurgical test work released today indicate a clear path forward for processing Atlanta's gold and silver mineralization via a combination of crushed and run-of-mine heap leaching together with conventional milling of high-grade mineralization. In a major departure from historical processing and test-work at Atlanta, the potential for using HPGR crushing, as indicated by Phase 1 enhanced test recoveries, could result in very significant benefits and opportunities for flow sheet development in a future potential mining operation. Test results also indicate significantly higher Au/Ag recoveries in the volcanic section, which is fast becoming a major component of the overall mineralized footprint at Atlanta. Looking forward, ongoing resource modeling and metallurgical studies will focus on optimizing the potential economics of mining and processing scenarios utilizing the alternative process options for which this Phase 1 testing program has indicated positive extraction results."

Test Results Summary:

Atlanta mineralized resources have been characterized into two major resource categories for gold and silver processing: 1. Silicified breccias (mineralized material in and below the main Atlanta unconformity) and Volcanics (mineralized material above the main Atlanta unconformity).

A breakout of the materials tested above and below the Atlanta unconformity and the laboratory metallurgy gold extraction test results are summarized in Table 1. A full range of rock types at Atlanta have been tested and test results clearly show the significant metallurgical difference between the silicified breccias and the volcanics. A similar table summarizing silver extractions for Atlanta can be found in Table 2.

Silicified breccias, below the unconformity, are hard and abrasive rocks and have a high degree of sensitivity to process feed particle size.

  • Victory Metals, Inc. (Nevada King Gold Corp.) NI 43-101 Technical Report on the Atlanta Project dated December 22, 2020, reported historic Atlanta mill recoveries, for the years 1979-85 at 81% for Au and 42% for Ag, at operating ball mill grind P80 = 120µm (microns).

  • Silicified breccias are amenable to High Pressure Grinding Roll (HPGR) comminution, where high-grade would report to a mill and lower-grade to heap leaching. The determination between higher-grade and lower-grade material will be dependent upon future economic analysis.

  • Of significant note is that as the silica breccia gold grade decreases (<1.7 ppm Au), gold extraction increases at coarser P80 particle size, as shown in Table 1. Thus, reinforcing the benefit of milling higher grade and HPGR crush-heap leaching of the lower grade resources.

  • Volcanics, above the unconformity, are relatively insensitive to process feed particle size and can be characterized as equal or similar to central Nevada commercial heap leach operations.

  • Volcanics are amenable to conventional milling, conventional crush heap leaching and/or ROM heap leaching.

Gold extraction from fine milling at a 200 mesh grind (P80=75µm) show a weighted average:

  • 91.7% extraction in the volcanics

  • 87.5 % extraction in the low-grade silica breccias

  • 85.9% extraction in the high-grade silica breccias

Gold extraction from conventional crushing (P80=12.5 mm) show a weighted average:

  • 87.1% extraction from volcanics

  • 62.1% extraction from low-grade silica breccias

  • 37.0% extraction from high grade silica breccias

Gold extraction from HPGR crushed composites show a weighted average:

  • 81.9% extraction from volcanics (only four of the nine volcanic composites were tested using HPGR as the remaining five composites contained elevated levels fines and are not suitable for HPGR processing)

  • 71.4% extraction from low-grade silica breccias (<1.7 ppm Au)

  • 50.4% extraction from high-grade silica breccias





Gold Met Balances



KCA
Sample
No.

Comp ID

Unconf*1
Abv/Below

Atlanta Geology

37µm BR

75µm BR

1,700µm BR

12.5mm Column

25.0mm Column

HPGR Column



Formation

Subunit

Au Ext
%

Calc Hd
Au (ppm)

Au Ext
%

Calc Hd
Au (ppm)

Au Ext
%

Calc Hd
Au (ppm)

Au Et
%

Calc Hd
Au (ppm)

Au Ext
%

Calc Hd
Au (ppm)

Au Ext
%

Calc Hd
Au (ppm)
























96607 A

ATV-3

Above

VolInt

Qtz latite porph, Int.

83.4

1.820

86.5

1.823

64.6

1.941

70.3

1.874



75.5

1.979



96609 A

ATV-5

Above

Tww

Volc. Ss

93.3

0.312

88.9

0.126

67.4

0.141



72.1

0.140





96616 A

ATV-12

Above

Tww

Dacite tuff

92.8

0.500

96.2

0.521

78.4

0.509

84.7

0.476



87.8

0.500



96617 A

ATV-13

Above

Tww

Dacite tuff

80.4

1.539

84.8

1.498

77.6

1.462



81.5

1.865





96619 A

ATV-15

Above

VolInt

Tuff dike bxa

90.0

6.363

92.0

6.793

82.0

6.927



82.4

7.165





96620 A

ATV-16

Above

VolInt

Qtz latite porph, Int.

90.7

0.529

90.7

0.593

86.6

0.610

88.8

0.633







96621 A

ATV-17

Above

SBX-2

hydro-breccia

83.9

1.214

88.6

1.324

73.3

1.209

76.1

1.403



81.7

1.440



96622 A

ATV-18

Above

VolInt

Qtz latite porph, Int.

86.7

1.531

88.0

1.639

81.8

1.566

86.3

1.666



88.0

1.615



96623 A

ATV-19

Above

BXZ

Dolomite

97.1

7.951

95.4

7.174

91.8

7.842

93.0

8.250







Wt Average




90.9

2.418

91.7

2.388

83.1

2.467

87.1

2.384

82.0

3.057

81.9

1.384






















96612 A

ATV-8

Below

Oes

Dolomite

78.5

0.237

82.4

0.289

50.8

0.299

44.0

0.218







96610 A

ATV-6

Below

VolInt

tuff dike bxa

94.9

0.375

94.3

0.348

64.0

0.336

44.6

0.249



60.6

0.277



96614 A

ATV-10

Below

SBX

Wk Si Dolomite

77.5

0.244

83.2

0.333

68.9

0.360

57.1

0.331



66.4

0.277



96601 B

ABS#1

Below

Ol

Silicified Dolomite

80.3

0.340

76.6

0.337

55.8

0.344

52.1

0.349



62.9

0.375



96615 A

ATV-11

Below

SBX

SBX

87.0

0.575

87.7

0.570

61.9

0.559

48.4

0.531



62.4

0.558



96605 A

ATV-1

Below

VolInt

Qtz latite porph, Int.

85.8

1.166

86.4

1.157

53.8

1.131

46.2

1.147



60.7

1.121



96603 B

ABS#3

Below

SBX

SBX

91.4

1.549

88.5

1.465

80.6

1.692

82.6

1.422



84.1

1.624



96602 B

ABS#2

Below

SBX

SBX

92.1

1.539

90.2

1.442

74.5

1.599

65.1

1.550



74.1

1.594



Wt Average (<1.7 ppm Au)




88.6

0.753

87.5

0.743

68.3

0.790

61.2

0.725



71.4

0.832






















96613 A

ATV-9

Below

SBX

SBX

91.0

2.344

90.0

2.412

53.3

2.617

39.9

2.534



53.1

2.643



96618 A

ATV-14


VolInt

Silicified Ryolite Int.

85.0

2.462

80.6

2.248

45.9

1.967

46.8

1.992



54.9

1.958



96611 A

ATV-7

Below

SBX

SBX

93.5

2.487

93.5

2.253

52.8

2.321

35.2

2.306



53.8

2.278



96608 A

ATV-4

Below

SBX

SBX

90.6

4.742

80.5

5.117

47.8

5.009

32.8

5.400



40.9

6.452



96606 A

ATV-2

Below

BXZ

volc tuff bxa

94.1

6.166

88.1

5.961

66.8

6.150





56.3

6.304



Wt Average (>1.7 ppm Au)




91.5

3.640

85.9

3.598

55.5

3.613

37.0

3.058



50.4

3.927






















*1 -

Unconformity - Below: Gold Extraction % is highly senstivity to feed particle size, Unconformity - Above: Gold Extraction % has low sensitivity to feed particle size.




Table 1. Gold Metallurgical Results, Bottle Roll & Column Leach Tests








Silver Met Balances*2



KCA
Sample No.

Comp ID

Unconf*2 Abv/Below

Atlanta Geology

37µm BR

75µm BR

1,700µm BR

12.5mm Columns

25mm Columns

HPGR Columns



Formation

Subunit

Ag Ext
%

Calc Hd
Ag (ppm)

Ag Ext
%

Calc Hd
Ag (ppm)

Ag Ext
%

Calc Hd
Ag (ppm)

Ag Ext
%

Calc Hd
Ag (ppm)

Ag Ext
%

Calc Hd
Ag (ppm)

Ag Ext
%

Calc Hd
Ag (ppm)
























96607 A

ATV-3

Above

VolInt

Qtz latite porph, Int.

43.2

2.5

24.3

4.6

13.1

4.9

12.4

4.0



13.7

5.2



96609 A

ATV-5

Above

Tww

Volc. Ss

55.7

2.0

22.3

3.8

8.2

3.8



9.4

3.07





96616 A

ATV-12

Above

Tww

Dacite tuff

36.0

0.4

8.0

1.5

8.5

0.9

11.6

0.9



8.9

0.8



96617 A

ATV-13

Above

Tww

Dacite tuff

77.9

1.1

37.2

2.3

47.1

1.5



60.6

0.99





96619 A

ATV-15

Above

VolInt

Tuff dike bxa

83.2

69.1

82.3

63.1

38.4

66.6



30.8

65.04





96620 A

ATV-16

Above

VolInt

Qtz latite porph, Int.

20.4

3.4

14.9

3.9

7.4

3.1

6.6

3.7







96621 A

ATV-17

Above

SBX-2

hydro-breccia

61.1

36.2

64.6

38.6

33.4

38.2

29.1

46.6



37.6

35.8



96622 A

ATV-18

Above

VolInt

Qtz latite porph, Int.

44.4

1.4

34.0

2.1

44.4

1.2

27.2

1.8



23.8

1.9



96623 A

ATV-19

Above

BXZ

Dolomite

52.6

32.0

56.9

33.9

35.6

31.4

45.4

45.0







Wt Average




68.1

16.5

65.3

17.1

34.3

16.9

34.7

17.0

30.3

23.033

33.6

10.9






















96612 A

ATV-8

Below

Oes

Dolomite

40.0

1.0

20.2

1.8

5.7

2.3

8.8

1.0







96618 A

ATV-14


VolInt

Silicified Ryolite Int.

83.5

1.7

49.7

2.5

43.9

1.7

35.9

1.7



38.8

2.4



96605 A

ATV-1

Below

VolInt

Qtz latite porph, Int.

64.1

2.5

34.4

4.0

18.4

4.1

16.1

3.6



24.5

3.3



96610 A

ATV-6

Below

VolInt

tuff dike bxa

70.1

3.0

39.8

4.3

29.0

5.0

25.5

4.0



27.6

4.5



96614 A

ATV-10

Below

SBX

Wk Si Dolomite

55.4

2.5

22.4

5.1

10.3

5.5

4.7

5.7



7.7

5.9



96602 B

ABS#2

Below

SBX

SBX

56.8

15.9

54.4

15.2

52.8

13.3

29.7

12.7



34.2

14.0



96606 A

ATV-2

Below

BXZ

volc tuff bxa

55.1

10.8

24.9

18.5

16.5

15.8

9.4

16.8







96608 A

ATV-4

Below

SBX

SBX

53.7

12.8

21.6

23.0

8.7

19.0

3.2

21.3



7.1

22.7



96615 A

ATV-11

Below

SBX

SBX

78.8

25.7

62.0

34.7

46.3

32.9

29.0

30.4



42.8

30.4



96611 A

ATV-7

Below

SBX

SBX

57.8

21.5

35.6

33.2

24.9

27.6

28.1

37.5



31.7

37.9



96613 A

ATV-9

Below

SBX

SBX

73.9

35.6

56.5

47.7

64.7

42.3

53.2

47.7



61.6

50.7



96601 B

ABS#1

Below

Ol

Silicified Dolomite

23.8

65.2

23.5

62.6

9.6

51.5

3.5

63.9



8.5

62.7



96603 B

ABS#3

Below

SBX

SBX

43.2

134.9

46.0

119.7

31.5

132.2

22.1

122.6



28.5

132.0



Wt Average




48.5

25.6

41.3

28.7

31.4

27.2

22.4

28.4



29.8

33.3






















*2 -

Silver grades are lower and extractions are higher in resources above the unconformity.











Table 2. Silver Metallurgical Results, Bottle Roll & Column Leach Tests






QA/QC Protocols

All PQ-diameter core for the Phase 1 testing program was ¼ cut with a diamond saw, with the ¼ sample being sent to American Assay Lab in Reno, Nevada, while the ¾ samples were sent to Kappes and Cassiday Associates, also in Reno. Samples were cut under the Company's supervision in its Winnemucca, Nevada, warehouse and all samples were placed in heavy canvas bags. CRF standards and coarse blanks were inserted into the sample stream on a one-in-twenty sample basis, meaning both inserts are included in each 20-sample group. Samples were shipped by a local contractor in large sample shipping crates directly to American Assay Lab in Reno, Nevada, with full custody being maintained at all times. At American Assay Lab, samples were weighted 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 mutli-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. The QA/QC procedure involves regular submission of Certified Analytical Standards and property-specific duplicates.

Qualified Person

The geological information in this news release has been reviewed and approved by Calvin R. Herron, P.Geo., who is a Qualified Person as defined by National Instrument 43-101 ("NI 43-101"). Mr. Herron is not independent for purposes of NI 43-101 as he is Exploration Manager of Nevada King.

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.com).

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 3. 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, statements regarding extraction results from the Phase I program and the effect thereof, laboratory testing of material from the Company's Phase 2 metallurgical PQ core drilling program, and the effect of extraction results thereof. 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, 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. There is no certainty, and the Company cannot provide assurance, that the results of the Phase I program will be realized in part or at all. The findings will require further assessment and analysis, including additional met core variability testing, comminution and environmental characterization and design engineering studies. 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.

View original content to download multimedia:https://www.prnewswire.com/news-releases/nevada-king-reports-positive-metallurgical-test-results-confirms-suitability-of-conventional-oxide-processing-methods-at-atlanta-302099184.html

SOURCE Nevada King Gold Corp.



Contact
contact Collin Kettell at collin@nevadaking.ca or (845) 535-1486.
 
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