10:36 AM EDT, 07/16/2024 (MT Newswires) -- Nevada King Gold ( NKGFF ) was edging higher early Tuesday after reporting the latest drill results from the Atlanta gold project in Nevada, including the discovery of an at-surface oxide gold zone called the East Ridge Zone (ERZ).

The ERZ represents the first satellite gold discovery made at Atlanta and demonstrates the project's district-scale potential, the company said.

Results include 1.32 grams per tonne (g/t) gold over 22.9 meters.

"Today's discovery of the ERZ marks a major milestone for our exploration efforts at Atlanta," said Cal Herron, Nevada King's exploration manager. "Aside from representing the first satellite gold zone discovered in the district, it was primarily identified based on a geophysical anomaly."

The company said it is "well positioned to make more new discoveries" after identifying numerous targets from the current resource zone.