Nevada King Gold (TSXV: NKG) is putting recently raised funds to work exploring its Atlanta Gold Mine in Nevada. The firm this morning announced a drill program has got underway for the property, following the closing of a $4.5 million financing just last week and a $11.3 million financing in April.
The latest program will see a total of 13,100 metres of core and reverse circulation drilling occur on the property, via a total of three drill rigs. The first rig was on site last week, with two more expected to commence operations early next month.
The phase two program is focused on expanding the foot print of the known gold mineralization, while at the same time expanding its understanding of mineralization on regions of the property with low drill density, with a focus on the western side of the known resource.
“Currently, gold mineralization remains open in all directions with a clear high-grade core that demands further definition and tracing. At the end of this current Phase II drill program, we will have drilled approximately 20,000m during the 2021/2022 exploration seasons and will have significantly increased our geological modelling and understanding of the distribution and styles of gold mineralization at the Atlanta Mine area.,” commented Cal Herron, Exploration Manager for Nevada King.
Nevada King Gold last traded at $0.40 on the TSX Ventuire.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.