VANCOUVER, BC, May 10, 2021 /CNW/ – Nevada King Gold Corp.
There has been almost no focus to date on the potential of the lower plate and for the first time all historic exploration data has been compiled and combined with recently collected drill and geophysical data to facilitate vectoring to a potential lower plate Carlin-type discovery.
Based on its location, a large mineralized footprint of gold in upper plate rock, confirmation of the presence of lower plate stratigraphy, we feel that the deep gold target at Iron Point merits significant attention with the goal of unlocking value for our shareholders.
Nevada King entered into an Earn-In Agreement on May 16, 2019 in which Ethos was granted the exclusive and irrevocable right to acquire a 50% undivided interest in and to the precious metals mining rights at the Iron Point project in Humboldt County, Nevada.
As consideration for the renunciation of its rights under the Earn-In Agreement, Nevada King has agreed to issue to Ethos, 6,500,000 common shares of Nevada King.
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.
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.