Nevada King Appoints Mr. Lewis Teal as Independent Technical Advisor to its Iron Point Project, Nevada
VANCOUVER, BC, May 19, 2021 /CNW/ - Nevada King Gold Corp. (TSXV: NKG) ("Nevada King" or the "Company") is pleased to announce that Mr. Lewis Teal, M.Sc., B.Sc., has been appointed as an independent technical advisor to its 100% owned Iron Point Project, Nevada. Additionally, the Company is pleased to announce the appointment of Mr. Geoff Sterling as Project Manager at Iron Point.
Highlights
- Mr. Teal worked with Newmont for 27 years in several key roles, including as District Exploration Team Technical Lead for Newmont's Carlin Trend Operations (1993-1999), Chief Geologist Yanacocha Operations, Peru (2000-2001), and Exploration Manager and Group Executive – Exploration and Early-Stage Development for Newmont South America (2006-2015).
- Mr. Teal was a senior member of Newmont's Carlin Exploration Team (1991-1999) thus bringing extensive exploration and discovery experience in Carlin-type gold deposits to the Iron Point project.
- During his career he has been involved in multiple discoveries of gold and copper deposits including in the Black Hills, South Dakota and Carlin Trend, Nevada, USA, Peru, Suriname and French Guiana.
- Over the past eighteen months, Mr. Teal has overseen technical exploration efforts at Iron Point. This program has included a comprehensive 3D model to incorporate all subsurface drill hole information with the goal of delineating patterns and zoning associated with Lower Plate carbonate hosted Carlin-type gold deposits.
Collin Kettell, Founder & Chief Executive Officer of Nevada King, stated, "On behalf of the Company I welcome Lew's continued technical involvement on the Iron Point project. His enthusiasm and observations surrounding the vast gold signature in Upper Plate rocks and potential for high-grade gold in the Lower Plate further enforces our confidence as we prepare to drill Iron Point in 2021."
Comments and Observations Provided by Mr. Lewis Teal:
"Regionally Nevada King's Iron Point project is located at the projected intersections of the northwesterly trending Battle Mt. – Cortez Trend and the northeasterly trending Getchell Trend. Combined endowments of these two regional gold belts, including historical production, reported reserves, measured resources and exploration inventories, exceeds 150 million ounces.
Starting in the early 1970s and continuing into the early 2000s, previous drilling programs at Iron Point by multiple companies have intersected extensive zones of shallow, anomalous to ore-grade gold mineralization in Upper Plate rocks, which tends to be less conducive to hosting higher grade, greater than 3.0 gram per ton, gold deposits.
Dating back to the early 1980s, previous historical drilling intercepts from 152 drill holes within the greater Iron Point project area, that host gold intercepts greater than 0.1 grams per ton in Upper Plate rocks are so prolific that they cover a cohesive footprint with dimensions extending NNW 10.3 x 1.9 Km, covering a known area of approximately 19.8 square kilometers (see Figure 1).
Consequently, these results are a direct indicator of the strong potential for deeper Carlin-type mineral systems hosted in the Lower Plate carbonate rocks, that are more conducive to formation of higher grade gold deposits. These deposits tend to occur geologically beneath lower grade gold mineralization hosted in the near-surface, or at surface, in Upper Plate sedimentary rock assemblage.
In 2019, Ethos Gold began an initial exploration program to specifically drill test for Lower Plate hosted gold deposits. Scout drill hole VM-008C at Iron Point validated the exploration concept by intersecting gold mineralization hosted in Lower Plate rocks, with the significant intervals of lower grade gold mineralization up to 0.22 g/t Au. Importantly, the bottom six meters of the hole averaged 0.17 grams per ton, indicating higher grade gold mineralization may extend at depth. Additionally, VM-008C intersected 17 meters averaging 101 grams per ton silver higher in the drill hole, near the Upper Plate – Lower Plate contact zone.
Beginning in Q4 2020, follow-up exploration drill targeting efforts at Iron Point has involved an encompassing systematic review, integration and modeling of all historical geology, multi-element surface geochemistry, geophysical data sets and subsurface historical drilling data. This effort was augmented by additional new geophysical surveys collected in Q3-Q4, 2020 for gravity, ground magnetics and CSAMT (resistivity). Data integration began with the ground surface data sets and has now progressed into 3D modeling to incorporate all subsurface drill hole information, including down-hole multi-element geochemistry modeling, in order to delineate subsurface signature patterns and zoning associated with Lower Plate carbonate hosted Carlin-type gold deposits."
Biographies
Mr. Lewis Teal received his M.S. degree in Economic Geology from the University of Texas – El Paso in 1979. He has 40 years of professional background in the mining industry that has included experience in Greenfields exploration, near-mine exploration and development in the U.S., South America, the Caribbean Region, and assignments in Mexico, Turkey, Indonesia and Southern China. Lew served as District Exploration Team Technical Lead at Newmont Mining's Carlin Trend Operations, Nevada (1993-1999); Chief Geologist (2000-2001) and Exploration Manager for Newmont Mining's, Yanacocha operation (2002-2006) and subsequently served as Newmont's Manager / Group Executive of Exploration and Early-Stage Development for South America and the Caribbean Region (2006-2015). During his career he has been involved in multiple discoveries of gold and copper deposits including in the Black Hills, South Dakota and Carlin Trend, Nevada, USA, Peru, Suriname and French Guiana. Since retiring from Newmont Mining in April 2015 after 27 years, Lew has been engaged as a private consultant, based out of Albuquerque, N.M. where he continues to consult for multiple companies and has been, or is currently engaged, in exploration evaluations and early, to advanced-stage development projects in Peru, Chile, Nevada, Arizona, Alaska, Northern Europe and the Middle East. Lew is a licensed Certified Professional Geologist with the American Institute of Professional Geologists (C.P.G. #6932). As such, he is considered a Qualified Person under Canadian National Instrument 43-101 regulations.
Mr. Geoff Sterling is an economic geologist with over 12 years of exploration experience, mainly related to gold in the western U.S. Mr. Sterling has worked on a number of exploration projects across north-central Nevada during his career, including management of a deep drilling program at the Arch discovery, south of the town of Carlin. Prior to joining Nevada King he exploration activities at the Iron Point Project for Ethos Gold. Mr. Sterling was also involved in the 2019 discovery at Irving Resources' Omu epithermal gold project in northern Japan. Mr. Sterling earned a B.Sc. in Geological Engineering from the Colorado School of Mines. He is a member of the Society of Economic Geologists and the Geological Society of Nevada.
Marketing Agreement
Nevada King also announces that it has retained a third-party investor relations provider, Gold Standard Media, LLC ("GSM"), a limited liability company existing under the laws of the State of Texas with an office at 1102 S. Austin Ave, #110-283, Georgetown, Texas, USA, to conduct marketing services for the Company. GSM is headed by Kenneth Ameduri, who manages a marketing team, and has been successfully marketing for a broad range of companies listed on exchanges from the TSX Venture Exchange to the New York Stock Exchange since 2010. GSM uses affiliated entities such as Future Money Trends and Portfolio Wealth Global LLC for the purpose of these marketing activities. To the knowledge of the Company Wallace Hill Partners Ltd., an affiliate of GSM, owns 1,361,795 Nevada King common shares. The term of the agreement with GSM (the "Agreement") is for sixty days ending July 18, 2021. GSM will be paid US$50,000 up front for these services. Pursuant to the Agreement, GSM will raise public awareness of the Company and will promote the Company's business.
Nevada King is aware that since early May, GSM and its affiliates have unilaterally published promotional materials regarding the Company without having an agreement with Nevada King to do so and without receiving compensation from Nevada King. It has been brought to the Company's attention that GSM sometimes contracts with the National Inflation Association ("NIA") in marketing campagns. Nevada King would like to clarify that, despite the content of disclosure release by NIA, Nevada King has not entered into an agreement nor paid any compensation to NIA for promotional or marketing material published by NIA. Nevada King does not approve or endorse the release of any publications about itself that are overly promotional in nature. Nevada King is aware that some of the promotional information published by GSM through its affiliated entities and NIA prior to the date of this news release is overly promotional and Nevada King does not approve or endorse the articles in question.
About Nevada King Gold Corp.
Nevada King is the fourth largest mineral claim holder in the State of Nevada, and the fastest growing mineral claim holder in the United States. Nevada King owns a 100% interest in the Atlanta Mine, located 100km southeast of Ely, Nevada, and the Iron Point Vanadium Project, located 35km east of Winnemucca, Nevada. The Atlanta Mine is a historical gold-silver producer. The Iron Point Vanadium Project is located within a few miles of Interstate 80, has high voltage electric power lines running through the project area and a railroad line passing across the northern property boundary. Nevada King is well financed to advance the Iron Point Vanadium Project through resource estimation and initial feasibility study work. Nevada King has a proven capital markets and mining team led by Executive Chairman Paul Matysek.
Please see the Company's website at www.nevadaking.ca.
Cautionary Statements Regarding Forward Looking Information
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.
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, the Company's exploration plans and the Company's ability to potentially expand mineral resources and the impact thereon. 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 given the global COVID-19 pandemic, 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. 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.
SOURCE Nevada King Gold Corp.
Collin Kettell at [email protected].
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