Kenai Resources Ltd. (TSX VENTURE:KAI) ("Kenai") is pleased to
provide a update on drilling at the Sao Chico gold project in north
central Brazil. High grade gold assay results have been received
from the independent lab for four core holes. Two strongly
mineralized gold zones have been encountered from the results of 16
core holes that have now been completed over a strike length of 500
meters, for a total of approximately 2,200 meters so far drilled in
the first phase 3,000 meter program. Sulphides have been
encountered to a downhole depth so far of 186 meters or 158
vertical meters. Mineralization is open at depth and along
strike.
As detailed below, the initial exploration target is for a
potential high grade deposit in the range of 1.1 million to 2.2
million tonnes.
Official assays for NI 43-101 reporting purposes have been
received from ACME Analytical Laboratories (Chile) S.A. for the
first six holes, with additional unofficial preliminary assays
received for the seventh hole from the nearby Serabi Mining plc
Palito mine assay laboratory. No results have yet been received for
subsequent holes, but high interest sulphide bearing core samples
from holes 8 to 16 have been submitted to both ACME and Palito,
with assays pending.
The assay data now received include the results shown in the
table below, showing reasonable correlation between the ACME and
Palito assays. The estimated true widths shown have been estimated
having regard to the surveyed dip of the vein where intercepted,
ranging from about 80 degrees to the south at higher levels, to
near vertical at greater depths. All holes are drilled at 55
degrees declination from the horizontal, with an azimuth of
approximately 10 degrees.
----------------------------------------------------------------------------
Estimated
True ACME Palito
From To Intercept Width Assay Assay
Hole No. Meters Meters meters meters g/t gold g/t gold
----------------------------------------------------------------------------
11-SC-002 38.25 40.11 1.86 1.12 17.7 19.40
49.10 50.30 1.20 77.30 60.9
50.30 51.15 0.85 0.59
51.15 52.28 1.13 0.34
52.28 52.83 0.55 0.90
52.83 53.50 0.67 1.07
11-SC-004 49.10 53.50 4.40 2.64 35.93
11-SC-005 142.13 143.71 1.58 0.95 115.9 97.6
132.78 133.90 1.12 115.3 123.2
133.90 134.93 1.03 27.20 27.0
11-SC-006 132.78 134.93 2.15 1.29 73.09 77.1
11-SC-007 158.50 160.50 2.00 1.20 pending 62.8
----------------------------------------------------------------------------
The assay data above have been interpreted on an initial
longitudinal section, as shown below.
To view the associated image click on:
http://media3.marketwire.com/docs/kenai1.jpg
The drilling plan for the first phase 3000 meter program is
shown below. Holes 10 and 12, for which early results are soon
expected, and holes 13 and 15, are testing the Highway Zone area,
about 500 meters along strike, east south-east of the Waldimiro
Drive.
To view the associated image click on:
http://media3.marketwire.com/docs/kenai2.jpg
In the drilling plan above, the SCDP numbering sequence is the
plan as originally laid out. The actual chronological sequence is
shown with the 11-SC numbering.
The overall 3000 meter diamond drilling program is scheduled to
be completed during December, with an updated NI 43-101 report soon
thereafter, assessing initial mineral resources and also
metallurgical testwork which is under way at the SGS Lakefield
laboratory in Ontario, Canada.
Sao Chico Initial Exploration Target: Potential Size(1)
The interpretation of the mineralization is based on the Sao
Chico block model shown below, and on information from the nearby
Serabi Mining plc Palito high grade, narrow vein underground gold
mine(2), which is hosted in the same Paruari suite of intrusive
granites as Sao Chico.
(1) The derived estimates are prepared in keeping with NI
43-101, Part 2, Section 2.3 and clause 18 of the Australian JORC
Code.
(2) Mineral Resource and Mineral Reserve Estimate for the Palito
Mine, Para State, Brazil, as at 31 March, 2008, Mello, R and
Guzman, C, NCL Brasil Ltda, September 2008.
Mineralization is interpreted to occur as a sub-parallel series
of sub-vertical lenticular bodies of quartz and disseminated to
massive sulphides, hosted within wider altered granite zones. The
potential area for mineralized zones is outlined by the location of
over 200 small shallow garimpeiro shafts indicated in the figure
above, all of which produced gold historically. This shows an
east-west strike length 1,000 meters by 600 meters north-south,
within a broader AP12386 exploration licence area of 1,416 Ha.
To view the associated image click on:
http://media3.marketwire.com/docs/kenai3.jpg
The mineralization and structural setting appears to be similar
to the Palito gold mine, as shown below, where 25 sheet-like
structures have been identified, approximately 1200 meters along
strike, 800 meters laterally and 250 meters deep, each typically
1.2 to 2 meters in width.
To view the associated image click on:
http://media3.marketwire.com/docs/kenai4.jpg
For the conversion of volumes to tonnages, specific gravity
estimates have now been completed in duplicate for 18 high grade
intercept core samples, with a range of 2.61 to 4.13, for an
average of 2.93 or, expressed in bulk density terms, 2.93 tonnes
per cubic meter.
To estimate the exploration target potential at Sao Chico, the
following parameters have been applied:
Case low estimate high estimate
- Strike length of vein structures 500m 750m
- Cumulative sulphide/quartz vein width 5m 5m
- Vertical depth of vein structure 150m 200m
- Derived volume cubic meters 375,000 750,000
- Bulk density tonnes per cubic meter 2.93 2.93
- Derived tonnage 1,100,000 2,200,000
- Grade assumption g/t gold 12 15
- Derived contained gold ounces 424,000 1,060,000
The Sao Chico target potential tonnages and grades above are
conceptual in nature. There has been insufficient exploration for a
defined mineral resource and it is uncertain if further exploration
will result in the delineation of such a mineral resource.
About Sao Chico
The project is more completely described in Kenai's NI 43-101
Technical Report on the project, details of which were contained in
Kenai's news release of January 20, 2011. It has since been filed
on SEDAR and on Kenai's website at www.kenairesources.com.
Sao Chico is located within the Tapajos region in Brazil, the
site of one of the biggest gold rushes in recent history. In the
late 1970's and 1980s, approximately 500,000 garimpeiros rushed to
the region to exploit extensive areas of newly discovered alluvial
gold, producing approximately 20-30 million ounces of gold before
the easily won alluvial gold deposits were largely depleted. Little
modern exploration has been conducted over the region to date.
As previously advised, ASX-listed Gold Anomaly Ltd via its
wholly owned Brazilian subsidiary GOAB, until Kenai exercises its
options to acquire 50% and then 75% equity in GOAB, holds the Sao
Chico mineral rights to the Sao Chico project in consideration for
loan funds provided by Kenai for activities to date at Sao Chico.
The options expire on September 3rd, 2012.
About Kenai Resources
Kenai is a Canadian company focused on precious mineral project
exploration and development, towards early significant gold
production. In addition to the Sao Chico gold project in Brazil,
Kenai is also involved in exploration of the wholly-owned Quartz
Mountain and Hope Butte epithermal gold projects in South-Eastern
Oregon, both located in Malheur County, close to the Oregon border
with Idaho. Kenai's current indicated and historical gold resources
from the two Oregon projects are summarized as follows:
Ounces
Project Tonnes Grade AuEq Status/Classification
Quartz Mountain 15,050,200 0.80 g/t Au 352,667 Indicated Resources NI 43-101
compliant
Hope Butte 5,000,000 0.91 g/t Au 146,300 Historical, not NI 43-101
compliant
Footnotes:
1. For Quartz Mountain, resources above a 0.34 g/t cutoff with silver
converted to gold equivalent using a ratio of 49.5:1 silver to gold.
Metallurgical recoveries were not considered. Indicated resources are
as reported in an independent November 2006 NI 43-101 report, posted on
SEDAR at that time.
2. The Hope Butte resources are considered historic in nature, do not
comply with current NI 43-101 standards, have not been verified by the
Company and therefore should not be relied upon. It is uncertain if
further exploration will result in the discovery of an economic mineral
resource.
On behalf of the Board of Directors of Kenai Resources Ltd.
Greg Starr, President and CEO
Forward-Looking Statements: Statements in this release that are
forward-looking statements are subject to various risks and
uncertainties concerning the specific factors disclosed and
elsewhere in the company's periodic filings with Canadian
securities regulators. The economic viabilities of the resources
estimates discussed in the release have not been established and
may not be. Such information contained herein represents
management's best judgment as of the date hereof based on
information currently available. The company does not assume the
obligation to update any forward-looking statement.
The technical content of this news release has been reviewed by
Kenai's Vice President Technical Services, Neil Cole, who has
sufficient experience which is relevant to the style of
mineralization under consideration and to the activity which is
being undertaken and planned to qualify as a Qualified Person under
NI 43-101.
Shares Outstanding: 62,406,734
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.
Contacts: Kenai Resources Ltd. Greg Starr President and CEO
604-669-5753 604-688-9895
(FAX)info@kenairesources.comwww.kenairesources.com
Grafico Azioni Kenai Resources Ltd. (TSXV:KAI)
Storico
Da Mag 2024 a Giu 2024
Grafico Azioni Kenai Resources Ltd. (TSXV:KAI)
Storico
Da Giu 2023 a Giu 2024
