Nevada King's Breakthrough Drill Results and Regional Expansion at Atlanta Gold Mine

Nevada King Gold Corp. (TSXV: NKG) has emerged as a standout in the gold exploration sector, driven by a strategic trifecta of geological innovation, regulatory momentum, and operational execution. The company's 2025 drilling program at the Atlanta Gold Mine—a 100% owned asset in the prolific Battle Mountain Trend—has delivered results that not only validate its exploration thesis but also position it as a prime candidate for district-scale Carlin-type gold discovery. For investors, this represents a rare convergence of technical rigor, regulatory alignment, and market timing in a sector primed for growth.

Geological Breakthrough: Carlin-Type Potential Unveiled

The Atlanta Gold Mine's recent drill results underscore a compelling shift in exploration focus. Carlin-type gold systems, characterized by low-sulfide, fine-grained deposits hosted in carbonate rocks, are among the most economically significant in the U.S. Nevada King's Phase III program has identified three key areas—Silver Park, Atlanta South, and Atlanta North—where geological indicators align closely with this model.

At Silver Park East, drill hole AT25SP-32 returned 0.83 g/t AuEq over 67.1 meters, including 24.2 g/t silver, in silicified dolomitic basement rock. This mineralization mirrors the Atlanta Resource Zone (ARZ), a known high-grade gold-silver deposit, and suggests the potential for a second ARZ-style deposit in the area. Meanwhile, Atlanta South has yielded the first significant gold-silver mineralization in the Pogonip Limestone, a host rock historically linked to Carlin-type giants like Archimedes and Long Canyon. Drill hole AT24QR-16, for instance, intersected 0.16 g/t Au and 2.9 g/t Ag over 48.7 meters, with arsenic levels (2,862 ppm) typical of Carlin-style hydrothermal systems.

The Atlanta North target, located 4 km from the ARZ, has further expanded the district's footprint. Drill hole AT25FN-6 returned 0.28 g/t Au over 36.6 meters in altered dolomite, marking the first shallow, heap-leachable mineralization in this untested area. Collectively, these results point to a district-scale hydrothermal system with the potential to host multiple Carlin-type deposits—a rarity in modern exploration.

Regulatory and Operational Momentum: A Tailwind for Growth

Nevada King's ability to secure regulatory approvals in August 2025 has been a critical enabler of its aggressive expansion. The BLM and State of Nevada granted permission to drill at 93 new sites, expanding the Phase III program to 46 holes and 30,000 meters. This follows two prior modifications in 2024 and 2025, reflecting the company's alignment with environmental and land-use frameworks.

Operationally, the company has demonstrated efficiency, completing 23,000 meters of drilling in just months. CEO John Sclodnick emphasized that the new drill sites leverage geophysical surveys, rock chip sampling, and structural geology insights to target high-potential zones. With 99 holes already drilled, the program is on track to deliver data that could redefine the Atlanta district's resource base.

Strategic Exploration: District-Scale Potential in a 100% Owned Asset

Nevada King's exploration strategy is anchored in a “graben model,” which has historically guided discoveries in the ARZ. By applying this model to new targets like Western Knolls and Jumbo, the company is systematically expanding its footprint. The Pogonip Formation, in particular, has emerged as a focal point, with folding and horst block structures creating favorable traps for strata-bound mineralization.

The company's resource base is already robust, with a pit-constrained oxide resource of 1.02 million ounces of gold (measured and indicated) and 99,000 ounces inferred. However, the recent drilling suggests significant upside. For example, the Atlanta South Quartzite Ridge horst block is being prioritized for deeper drilling, where stronger mineralization is expected. If these targets meet expectations, they could transition from exploration to pre-feasibility studies within 18–24 months.

Investment Implications: A High-Conviction Play in a Gold-Bull Market

Nevada King's stock has historically traded with volatility typical of junior explorers, but its 2025 results and regulatory progress position it for a re-rating. With gold prices trading near $2,500/oz (a 30% increase from 2024 highs) and silver at multi-year peaks, the economics of heap leach projects like Atlanta have become increasingly attractive. The company's focus on shallow, oxide deposits with heap leach viability adds a near-term production catalyst, while its Carlin-type potential offers long-term growth.

For investors, the key risks include exploration dilution and gold price volatility. However, Nevada King's 100% ownership of the Atlanta district, combined with its rigorous QA/QC protocols (including multi-element ICP-OES analysis and lead fire assay), mitigates geological uncertainty. The company's technical team, led by P.Geo. Calvin Herron, has a proven track record of converting exploration success into resource growth.

Conclusion: A District-Scale Opportunity in a Strategic Jurisdiction

Nevada King's Atlanta Gold Mine is no longer just a high-grade satellite deposit—it's a potential Carlin-type district in the making. With a 13,000-hectare land package, regulatory tailwinds, and a drill program that has already intersected multiple Carlin-style indicators, the company is well-positioned to deliver multi-bagger returns. For investors seeking exposure to a gold sector renaissance, Nevada King offers a compelling blend of technical execution, strategic vision, and jurisdictional safety in Nevada's Battle Mountain Trend.

Investment Recommendation: Buy Nevada King (NKG) for a medium-term hold, with a target price of $1.50/share (a 150% upside from current levels) based on a 10x P/AU multiple for a 1.5M-ounce resource. Monitor Phase III results and Q4 2025 resource updates for confirmation of district-scale potential.