Junior gold stock more than doubles Nevada resource
Measured and indicated resources now stand at 27.7 million tons averaging 1.14 grams per ton of gold for 1,019,600 ounces, representing a 122-per-cent increase from the 2020 estimate
Nevada King Gold is focused on advancing its 100-per-cent owned, past-producing, 120-square-kilometre Atlanta gold mine project in southeastern Nevada
The junior gold stock has given back 54.55 per cent year-over-year, drastically lagging gold's more than 40 per cent gain
Nevada King Gold (TSXV:NKG) has more than doubled measured and indicated resources at its Atlanta gold mine project, located 264 kilometres northeast of Las Vegas within the mineral-rich Battle Mountain trend.
Measured and indicated resources now stand at 27.7 million tons averaging 1.14 grams per ton (g/t) gold for 1,019,600 ounces, representing a 122-per-cent increase from the 2020 estimate.
At a base-case of US$2,200 per ounce of gold, Atlanta's ounce count benefits from an over 35 per cent discount to the price of US$3,405 on May 4 at the time of writing.
The million-ounce milestone follows successful phase I and II resource definition drilling programs, but does not include new mineralization encountered in the ongoing phase-III program, as highlighted by a recent gold and silver discovery at Silver Park. As drilling continues, the company will focus on de-risking Atlanta with additional metallurgical, geotechnical and environmental work, as well as permit planning.
According to Wednesday's news release, 'management sees clear potential for continued resource expansion with mineralization open to the north, south and west of the resource zone, as well as the potential for finding regional satellite deposits.' Leadership insights
'This updated MRE was prepared by RESPEC, a highly regarded engineering firm that represents the gold standard for Nevada projects. The results mark a major milestone at Atlanta, confirming a high-grade and high-confidence oxide gold system in one of the most sought-after jurisdictions in the world,' Collin Kettell, Nevada King Gold's chief executive officer, said in a statement. 'We are pleased to exceed the 1-million-ounce gold threshold in the M&I category while maintaining the grade of oxide mineralization well above 1 g/t. Today's results highlight the success of our phase I and II drill programs and validate our technical team's geological model and drilling since 2021. With this MRE under our belt, we will continue our quest to unlock the full potential of the Atlanta district. Our fully funded, aggressive phase-III exploration drill program is aimed at demonstrating Atlanta's multi-million-ounce potential.' About Nevada King Gold
Nevada King Gold is focused on advancing its 100-per-cent owned, past-producing, 120-square-kilometre Atlanta gold mine project in southeastern Nevada.
Nevada King Gold stock (TSXV:NKG) is down by 26.83 per cent on the news trading at C$0.15 as of 11:05 am ET. The stock has given back 54.55 per cent year-over-year, drastically lagging gold's more than 40 per cent gain.
Join the discussion: Find out what everybody's saying about this junior gold stock on the Nevada King Gold Corp. Bullboard and check out Stockhouse's stock forums and message boards.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CTV News
4 hours ago
- CTV News
CTV National News: Mexico and EU targeted by Trump's tariffs
Watch U.S. President Donald Trump is targeting two more of its major trading partners with 30 per cent tariffs. Colton Praill reports.
CTV News
11 hours ago
- CTV News
Ex-Foreign Affairs minister calls Trump's tariffs ‘uncharted waters' for trade deal talks
Watch Peter MacKay on shifting Canada-U.S. trade talks, what's needed for a deal by Aug. 1, and how tensions affect ties with the U.S. and Mexico.
CTV News
12 hours ago
- CTV News
‘We do have to take it seriously': How Maritime manufacturers, exporters could be impacted by new tariff threats
Ron Marcolin with Canadian Manufacturers and Exports discusses the latest developments in the trade war. Ron Marcolin with Canadian Manufacturers and Exports discusses the latest developments in the trade war. U.S. President Donald Trump sent a letter Thursday informing Prime Minister Mark Carney of a 35 per cent tariff that will be imposed on exports from Canada to the U.S. The new levies, which are in addition to several tariffs imposed since March, would come into effect on Aug. 1. Trump also said the tariff would rise if Canada retaliated with new tariffs of its own. 'I think it's fair to say we do have to take it seriously,' Ron Marcolin, vice president of Canadian Manufacturers and Exports (CME) for New Brunswick and P.E.I., told CTV Atlantic's Todd Battis. Marcolin says since early March, Canada has received a series of threats from Trump about imposing tariffs and the tariffs that have been put in place are already affecting businesses in the Maritimes. 'Unfortunately, it is a bit of a game, it's a very serious and high stakes game,' said Marcolin. 'But we know that he can change his mind and is prone to changing his mind, that's part of his strategy.' On top of the newly announced 35 per cent tariff, Canada now faces a 25 per cent tariff on most Canadian goods, 10 per cent tariffs on energy sources, 25 per cent tariffs on steel and aluminum and 25 per cent tariffs on autos and auto parts. Along with the announcement on Thursday, Trump announced a 50 per cent tariff on copper. 'The unique thing about copper is Americans need Canadian copper,' Marcolin said. 'They need Canadian copper concentrate so ultimately they can refine it and smelt it.' Marcolin said this tariff will impact the copper customers in the U.S. As for manufacturers in the Maritimes, Marcolin said they will begin to look for suppliers elsewhere to diversify their markets. '[Companies] look at say, shipping lanes out of Halifax and out of the Port of Saint John, looking to Europe in particular,' Marcolin said. Government agencies are also available to help exporters in the Maritimes who don't have the knowledge of exporting to Europe, Marcolin said.
