1. Phase 2 metallurgical tests confirm and enhance Phase 1 results. 2. Gold recoveries averaged over 90% for non-silicified volcanics. 3. Simplified process flow could reduce operating and capital costs. 4. Testing supports conventional milling for high-grade material. 5. Phase 2 adds valuable data about varied geological resources.
Positive metallurgical test results demonstrate strong recovery metrics likely to enhance investor confidence. Historically, similar announcements have resulted in price increases for mining stocks.
The announcement signifies a step towards operational efficiency and potential revenue increase, making it important for current and prospective investors.
Improvements in extraction techniques and cost efficiency will likely drive future profitability and stock performance over time, as seen in other successful mining projects.
/PRNewswire/ - Nevada King Gold Corp. (TSXV: NKG) (OTCQB: NKGFF) ("Nevada King" or the "Company") is pleased to report results from its Phase 2 metallurgical testing program at its 12,000 hectare (120km2), 100% owned Atlanta Gold Mine Project, located in the prolific Battle Mountain Trend 264km northeast of Las Vegas, Nevada. Phase 2 results confirm and expand on the Phase 1 results (released March 26, 2024), while delivering a more simplified flowsheet with potential for lower operating and initial capital costs, and continuing to demonstrate that gold and silver mineralization at Atlanta is well suited to conventional oxide processing methods widely used in Nevada.
Phase 2 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 also supervised the Phase 1 metallurgical test work at Atlanta and has managed numerous metallurgical testing programs in the Great Basin with characteristics similar to those found at Atlanta.
"The Phase 2 results refine the findings from Phase 1, that conventional oxide milling of the silicified volcanics, SBX and dolomite material types will be suitable to process the Atlanta mineralization. The non-silicified volcanics are amenable to conventional ROM heap leaching."
"The inclusion of HPGR will provide a relatively lower overall operating cost for SBX compared to alternatives such as a SAG/Ball mill processing. The Phase 2 testing provided additional clarity on the metallurgical characteristics of a wider variety of rock type subunits included in the resource area and is another step in de-risking the Atlanta Gold Mine project."
The Atlanta resource is generally categorized into two distinct categories for the purposes of metallurgical testing of gold and silver extraction. There is the SBX (mineralized material in and below the main Atlanta unconformity) and the volcanics (mineralized material above the main Atlanta unconformity). Of the 26 composites tested in Phase 2, 17 were within or below the unconformity representing SBX material and nine were within the volcanics. A higher ratio of samples of SBX material was used in Phase 2, compared to nearly equal samples from SBX and volcanics in Phase 1, to improve the understanding of the SBX material and the metallurgical characteristics of the subunits.
| MATERIAL | GOLD EXTRACTION – MILLING (P80=75µM) | GOLD EXTRACTION – HEAP LEACH (P80=12.5–25MM) | SILVER EXTRACTION – MILLING (P80=75µM) |
|---|---|---|---|
| VOLCANICS (NON-SILICIFIED) | 90.1% (2.71 g/t Au) | 83.1% (2.56 g/t Au) | 58.1% (25.0 g/t Ag) |
| SILICIFIED VOLCANICS | 86.1% (2.80g/t Au) | 55.9% (2.83g/t Au) – Not suitable for heap leach | 28.2% (7.4 g/t Ag) |
| SILICA BRECCIA (SBX) | 87.7% (3.23 g/t Au) | Not Applicable | 43.9% (26.0 g/t Ag) |
| DOLOMITE | 80.6% (0.32 g/t Au) | 52.0% (0.30 g/t Au) | 23.3% (23.2 g/t Ag) |
Overall, Phase 2 closely mirrors Phase 1 in grade, extraction behavior, and composition and validates the Phase 1 results, with high cyanide solubility across both phases. Fine grinding remains very effective across all lithologies.
For further details, please see the Company's website at www.nevadaking.ca.
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 in this release, other than statements of historical fact, included herein, without limitation, statements relating to the future operations and activities of Nevada King...