Strong Drill Results Push This Micro Cap Miner's Shares Higher

2026-02-03 11:11:32 ET

Despite a recent pullback in gold prices and a broader cooldown in precious metals trading, gold is surging in today’s session as investors view the correction as a buying opportunity, betting that the recent dip is only temporary in the context of the metal’s longer-term uptrend. Gold miners have experienced similar volatility in recent days, including one junior miner that just released strong drill results, driving its shares sharply higher in today’s trading.

This morning, Nevada King Gold Corp. (TSX-Venture: NKG) (OTCQB: NKGFF) reported new drill results from the Silver Park East target at its Atlanta Gold Mine Project in eastern Nevada, confirming the expansion of near-surface gold-silver mineralization. The latest assays include results from holes drilled west of the main Silver Park East zone and step-out holes located roughly 350 metres to the south. These holes intersected oxide gold-silver mineralization starting at or near surface, with standout intercepts including 0.93 g/t gold-equivalent over 14.6 metres and 0.69 g/t gold-equivalent over 14.6 metres. The mineralization is hosted along the same unconformity that controls gold and silver deposition elsewhere at Atlanta, and results suggest this structure shallows toward the south, allowing mineralization to reach surface.

Additional drilling west of Silver Park East has pushed the known mineralized zone another 50 metres in that direction and now defines a footprint measuring approximately 300 metres by 500 metres. These results also indicate a potential connection between the main Silver Park East zone and the newly identified mineralization to the south, which could materially increase the target’s overall scale. Phase 4 drilling is ongoing, with reverse circulation drilling focused on tightening drill spacing to confirm continuity, while a shallow RAB drill program is testing near-surface geochemical anomalies across the broader Silver Park area. Several of the shallow holes ended in mineralization, further highlighting the upside potential of the target.

Justin Daley, VP Exploration of Nevada King, commented, "These shallow RAB results confirm that Silver Park East is larger than we initially recognized. Expanding the footprint to 300 metres by 500 metres and identifying surface mineralization 350 metres to the south highlights the scale of the system. Importantly, the mineralization occurs in the same silicified breccia, at the same unconformity, and along the same structural corridor as the Atlanta Resource Zone, reinforcing our view that these are parts of a large-scale system. Our next step is to close the remaining gaps with RC drilling as we work toward defining a continuous oxide gold envelope."

Shares of NKG are currently trading up 12.82% at $0.22, while U.S. listed shares (NKGFF) move up 9.41% at $0.1605 in late-morning trading.

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