Kaminak's Coffee Infill Drilling Program at Latte Deposit Demonstrates Continuity and Intersects High-Grade Zones
07 Novembre 2013 - 1:00PM
Marketwired Canada
Kaminak Gold Corporation (TSX VENTURE:KAM) today announced the results of an
infill delineation drilling program at Latte targeting the central zone of the
deposit and representing approximately 500m of its' more than 2km of mineralized
strike-length, which remains open along strike and to depth. As previously
disclosed, the Latte deposit is one of several gold deposits located within the
company's Coffee Gold Project and contributes approximately 1.1 Moz of the
previously reported 3.2 Moz NI 43-101 Inferred Mineral Resource Estimate,
consisting of 64 million tonnes grading at 1.56 grams per tonne gold ("g/t Au")
at a base case cut-off of 0.5g/t Au for Oxide and Transitional material and a
1g/t Au cut-off for Sulphide material.
Highlight Intercepts include:
-- 9.54g/t Au over 6.1m from 60.96m down hole depth in CFR0554
-- 13.21g/t over 4.58m from 77.72m down hole depth in CFR0558
-- 2.44 g/t Au over 54.86m from 67.06m down hole depth in CFR0565
-- 1.92 g/t Au over 85.35m, from 50.29m down hole depth in CFR0567
-- 1.65g/t over 82m from 120m down hole depth in CFD0342
-- 19.11g/t Au over 3.04m from 82.3m down hole depth in CFR0576
Eira Thomas, CEO commented: "Kaminak completed a short infill drilling program
at Coffee in 2013 targeting those areas of the resource that could represent
high value, potential starter pit mining opportunities for the project. The
first results of that program announced today from Latte were encouraging,
demonstrating good continuity of mineralization at tighter drill spacing and
further defining high grade zones within the central core of the deposit. These
results will contribute to an updated 43-101 resource estimate towards year-end
followed by the initiation of a Preliminary Economic Assessment in early 2014."
The 2013 Coffee drill program is now complete with over 55,000m drilled this
year. Additional news flow in the coming weeks will include final drill results
from the 2013 season at Supremo, metallurgical test work results, and updated
Coffee resource estimation.
About the Latte Drilling Programs
Latte infill drilling was completed primarily to confirm the continuity of
mineralization and grade characterization within a central 500m section of the
Latte gold deposit. The ultimate aim of the infill drill program is to upgrade
the resource classification of that section of the deposit from Inferred to the
higher confidence level required in the Indicated category. The location and
spacing of drilling was determined in consultation with independent Qualified
Person Robert Sim, P.Geo. of SIM Geological Inc., who completed the Coffee Gold
Project maiden Inferred Mineral Resource Estimate (announced December 13, 2012).
The Company plans to update the mineral resource estimate once all of the drill
results from the 2013 program have been received.
Mineralization intersected by the infill drilling campaign strongly supports the
existing geological model of broad steeply south-dipping mineralized shear
zones, which exhibit gentle anastomosing and pinch and swell characteristics. A
trench excavated within the central Latte area on section 583,250mE assayed
1.31g/t over 56m, which is consistent with underlying drill assay results and
provides confirmation that mineralization comes to surface. The trenching was
undertaken to collect larger size fraction material (compared to drill core) to
test cyanide leach gold recovery at coarser crush sizes. Material was sampled
directly from bedrock located beneath a shallow over-burden profile comprising
0.25-0.5m soil and 1.0-1.5m bedrock colluvium.
The Latte Infill program utilized RC percussion drilling for the first time. As
per Kaminak's standard procedure, two pre-existing diamond core holes were
'twinned' by RC to confirm reproduction of the results using both drilling
methods. CFR0552 twinned CFD0008, returning comparable intercepts of 33.9
gram-metres and 39.0 gram-metres respectively (where gram-metres equals
intercept width x grade). CFR0553 twinned CFD0006, returning 57.3 gram-metres
and 46.7 gram-metres respectively. These results between core and RC compare
well given the tolerances of the exercise, including deviation between the
paired drill holes and that it was necessary to collar the RC holes 3-5m from
the core holes collar in order to maintain air pressure.
Latte Drill Results
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Weighted
Core Average
Length Grade
Drill Hole From (m) To (m) (m)(i) (g/t Au)
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CFR0552 18.29 33.53 15.24 0.81
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And 42.67 59.44 16.77 1.29
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CFR0553 30.48 50.29 19.81 1.50
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And 56.39 76.2 19.81 1.46
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And 102.11 109.73 7.62 1.41
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CFR0554 12.19 35.05 22.86 1.93
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And 39.62 45.72 6.1 5.69
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And 60.96 67.06 6.1 9.54
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And 100.58 105.16 4.58 9.53
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CFR0555 16.76 21.34 4.58 2.32
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And 45.72 64.01 18.29 0.90
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CFR0556 80.77 103.63 22.86 3.80
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CFR0557 92.96 163.07 70.11 1.64
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CFR0558 19.81 35.05 15.24 1.39
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And 59.44 71.63 12.19 2.46
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And 77.72 82.3 4.58 13.21
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And 105.16 117.35 12.19 3.26
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CFR0559 108.20 124.97 16.77 1.51
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And 131.06 135.64 4.58 2.38
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CFR0560 118.87 126.49 7.62 3.88
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CFR0561 91.44 105.16 13.72 2.54
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CFR0562 83.82 85.34 1.52 9.53
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And 92.96 112.78 19.82 2.44
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CFR0563 38.10 86.87 48.77 2.85
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And 103.63 115.82 12.19 3.21
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CFR0564 74.68 111.25 36.57 1.19
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And 137.16 149.35 12.19 1.82
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CFR0565 67.06 121.92 54.86 2.44
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And 132.59 140.21 7.62 1.41
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CFR0566 25.91 33.53 7.62 1.41
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And 44.20 83.82 39.62 2.38
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CFR0567 50.29 135.64 85.35 1.92
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CFR0568 47.24 121.92 74.68 1.09
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CFR0569 88.39 120.4 32.01 1.84
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CFR0570 18.29 57.91 39.62 1.67
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And 82.30 89.92 7.62 2.08
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CFR0571 42.67 73.15 30.48 2.04
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And 96.01 103.63 7.62 3.56
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CFR0572 33.53 73.15 39.62 1.31
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And 118.87 123.44 4.57 3.36
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CFR0573 54.86 70.10 15.24 1.04
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CFR0574 18.29 39.62 21.33 1.80
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And 44.20 82.3 38.1 0.99
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And 88.39 106.68 18.29 1.41
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CFR0575 36.58 70.10 33.52 1.50
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CFR0576 6.10 70.10 64 1.71
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And 82.30 85.34 3.04 19.11
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CFR0577 109.73 114.3 4.57 3.92
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CFR0578 27.43 39.62 12.19 1.87
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CFR0579 48.77 62.48 13.71 1.83
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CFR0580 132.59 137.16 4.57 2.29
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CFR0581 45.72 68.58 22.86 1.58
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CFR0582 25.91 44.2 18.29 1.41
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And 62.48 85.34 22.86 1.70
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CFR0583 18.29 30.48 12.19 1.53
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CFD0340 89 124 35 3.52
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And 170 184 14 1.78
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CFD0341 152 178 26 1.29
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And 191 199 8 1.31
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And 219 229 10 1.38
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CFD0342 101 105 4 4.42
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And 120 202 82 1.65
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CFD0343 111 119 8 1.25
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And 126 142 16 2.33
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And 146 167 21 1.31
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CFD0344 124 128 4 3.04
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And 158 164 6 1.89
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And 182 192 10 2.87
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And 214 223 9 2.09
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CFD0345 162 164 2 4.99
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And 180 185 5 2.24
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And 193 197 4 2.58
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CFD0346 108 120 12 2.00
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CFD0347 148 149 1 3.33
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CFD0348 99 120 21 0.98
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And 124 163 39 0.97
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And 179 191 12 1.20
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CFD0349 198 200 2 3.41
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CFD0350 159 168 9 1.79
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And 175 178 3 4.39
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CFD0351 79 104 25 1.87
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(i)In general, the true width is estimated at approximately 2/3 of the core length.
All maps, sections and assay sheets are currently available on the Kaminak
website, www.kaminak.com.
The Company also announces that Broadside Media Inc. is providing investor
relations services for the Company, subject to acceptance for filing by the TSX
Venture Exchange.
The principal of Broadside Media, Inc., Kyle Barker, is an experienced finance
and communications executive with an extensive corporate development and
marketing background. Mr. Barker will assist the Company with the development
and implementation of a public and investor relations and communications
program, and provide on-going assistance to the Company regarding the
development and enhancement of the Company's public and market image.
Through Broadside, Mr. Barker will provide the services of Manager, Investor
Relations on a monthly basis at an hourly rate of $43.75 and may be granted
stock options under the Company's Stock Option Plan. Mr. Barker and Broadside
are each arm's length parties to the Company and have advised the Company that
they do not have any direct or indirect interest in the Company.
QA / QC
Kaminak's disclosure of a technical or scientific nature in this press release
has been reviewed and approved by Rory Kutluoglu, P.Geo., Exploration Manager of
Kaminak Gold Corporation, who serves as a Qualified Person under the definition
of National Instrument 43-101. Quality assurance and quality control procedures
include the systematic insertion of blanks and standards into the drill sample
string. Samples are placed in sealed bags and shipped directly to the ALS
Minerals preparatory laboratory in Whitehorse prior to gold fire assay.
On behalf of the Board of Directors of Kaminak
Eira Thomas, President and CEO
Kaminak Gold Corporation
For further information about Kaminak Gold Corporation or this news release,
please visit our website at www.kaminak.com.
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.
Caution Concerning Forward-Looking Statements
Certain disclosures in this release, including management's assessment of the
future potential of the Coffee Project and future exploration programs,
constitute forward-looking statements that are subject to numerous risks,
uncertainties and other factors relating to Kaminak's operations as a mineral
exploration company that may cause future results to differ materially from
those expressed or implied in such forward-looking statements, including risks
as to the completion of the plans and projects. Readers are cautioned not to
place undue reliance on forward-looking statements. Except as required by law,
Kaminak expressly disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information, future
events, or otherwise.
Cautionary Note concerning estimates of Inferred Resources:
This news release uses the term "inferred resources". Inferred resources have a
great amount of uncertainty as to their existence, and great uncertainty as to
their economic and legal feasibility. It cannot be assumed that all or any part
of an Inferred Mineral Resource will ever be upgraded to a higher category.
Under Canadian rules, estimates of Inferred Resources may not form the basis of
feasibility or other economic studies. Kaminak advises U.S. investors that while
this term is recognized and required by Canadian regulations, the U.S.
Securities and Exchange Commission do not recognize it. U.S. investors are
cautioned not to assume that part or all of an inferred resource exists, or is
economically or legally minable.
FOR FURTHER INFORMATION PLEASE CONTACT:
Kaminak Gold Corporation
Tony Reda
Vice President of Corporate Development
604.646.4534 or Toll Free 1.888.331.2269
info@kaminak.com
www.kaminak.com
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