Kaminak's Coffee Infill Drilling Program at Supremo Deposit Demonstrates Continuity
12 Novembre 2013 - 1:00PM
Marketwired Canada
Kaminak Gold Corporation (TSX VENTURE:KAM) today announced the results of an
infill delineation drilling program at Supremo primarily targeting the central
zone of the Supremo T3 deposit and representing approximately 500m of its more
than 2.3km of mineralized strike length, which remains open along strike to the
north and at depth. Also being reported in this news release are bedrock trench
results from the 500m infill section demonstrating high-grade oxide gold
mineralization at surface. As previously disclosed, the Supremo deposit is one
of several gold deposits located within the company's Coffee Gold Project and
contributes approximately 1.8 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.
Drill Highlight Intercepts include:
-- 11.03g/t Au over 7m from 43m down hole depth in CFD0337 (T3)
-- 19.00g/t Au over 3m from 27m down hole depth in CFD0338 (T3)
-- 3.51g/t Au over 10m from 88m down hole depth in CFD0339 (T3)
-- 3.14g/t Au over 10.67m from 147.83m down hole depth in CFR0590 (T3)
-- 5.38g/t Au over 7.62m from 7.62m down hole depth in CFR0595 (T3)
-- 7.48g/t Au over 6m from 29m down hole depth in CFD0307 (T4)
Trench Results include:
-- 10.93g/t Au over 12m
-- 20.05g/t Au over 11m
-- 4.08g/t Au over 10m
Eira Thomas, CEO commented: "The Supremo T3 deposit has consistently returned
some of the highest grade intercepts at Coffee and contributes to the majority
of the Oxide ounces in the current 43-101 Resource. This year's limited infill
program has helped to better delineate the central zone of the deposit, which
could represent a high value potential starter pit for the project. The
mineralization encountered is consistent with previous results from Supremo and
will contribute to an updated 43-101 resource estimate towards year-end followed
by the initiation of a preliminary economic analysis in early 2014."
About the Supremo Drilling Program
Supremo infill drilling was completed primarily to improve continuity of
mineralization and grade characterization within a central 500m section of the
Supremo T3 gold deposit, and in addition, a small section of Supremo T4 where
the current resource block model does not extend to surface. The ultimate aim of
the T3 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 all 2013 programs
have been received.
Results are also presented for trenching on T3 plus additional exploration and
infill drilling campaigns. Outstanding results from previous drilling campaigns
on T1 and 2 are also reported.
Details of the T3 drilling and trenching program:
1. Mineralization intersected by the T3 infill drilling campaign strongly
supports the existing geological model of steeply east-dipping
mineralized faults and shear zones, which exhibit gentle anastomosing
and pinch and swell characteristics.
2. Three trenches excavated within the central Supremo T3 area returned
high grade mineralization as follows:
Section 6,974,400N 10.93g/t Au over 12m
Section 6,974,375N 20.05g/t Au over 11m
Section 6,974,250N 4.08g/t Au over 10m
The trench assay results are consistent with true width of the T3
structure indicated by underlying drill assay results, and provide
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.
3. The 2013 Supremo T3 drilling program included one deep core hole to test
the depth extension of the T3 structure, intersecting the fully to
partially oxidized T3 structure at 350m depth below surface in precisely
the position predicted by the Company's 3D geological model. Gold tenor
within the T3 structure was low at 0.192g/t Au over 4m from 398m core
depth; however, the drill hole deviated by approximately 50m northward
and did not intersect the center of the targeted plunging mineralized
shoot. Higher in the hole a high grade intercept of 7.47g/t Au over 2m
from 116m represents the northward strike continuation of the T3.5
structure which lies midway between T3 & 4.
4. The strike extension of the Supremo T3 zone southward beyond the east-
west striking Latte - Double Double trend was tested via two core holes,
CFD0324 & 325. Drilling intersected a narrow deformation and alteration
zone; however, it is unlikely to represent a continuation of the Supremo
zone. Rather, the Company's geological team interprets that the Supremo
structures represent steeply angled splays off the Latte structure.
Supremo Drill Results
----------------------------------------------------------------------------
Weighted
Core Length Average Grade
Drill Hole Structure/Target From (m) To (m) (m)(i) (g/t Au)
----------------------------------------------------------------------------
CFD0323 Supremo T3.5 116 118 2 7.47
----------------------------------------------------------------------------
CFD0324 Supremo T3 South No Significant Values (NSV)
----------------------------------------------------------------------------
CFD0325 Supremo T3 South NSV
----------------------------------------------------------------------------
CFD0326 Supremo T3 Infill 147 152 5 2.16
----------------------------------------------------------------------------
And Supremo T3 Infill 169 175 6 1.10
----------------------------------------------------------------------------
And Supremo T3 Infill 180 182 2 3.38
----------------------------------------------------------------------------
CFD0327 Supremo T3 Infill NSV
----------------------------------------------------------------------------
CFD0336 Supremo T3 Infill 59 61 2 6.31
----------------------------------------------------------------------------
CFD0337 Supremo T3 Infill 43 50 7 11.03
----------------------------------------------------------------------------
CFD0338 Supremo T3 Infill 27 30 3 19.00
----------------------------------------------------------------------------
And Supremo T3 Infill 119 123 4 2.55
----------------------------------------------------------------------------
And Supremo T3 Infill 186 192 6 1.59
----------------------------------------------------------------------------
CFD0339 Supremo T3 Infill 7 10 3 6.15
----------------------------------------------------------------------------
And Supremo T3 Infill 88 98 10 3.51
----------------------------------------------------------------------------
CFR0584 Supremo T3 Infill NSV
----------------------------------------------------------------------------
CFR0585 Supremo T3 Infill NSV
----------------------------------------------------------------------------
CFR0586 Supremo T3 Infill 12.19 22.86 10.67 0.74
----------------------------------------------------------------------------
And Supremo T3 Infill 158.5 172.21 13.71 1.74
----------------------------------------------------------------------------
CFR0587 Supremo T3 Infill 28.96 30.48 1.52 5.65
----------------------------------------------------------------------------
CFR0588 Supremo T3 Infill 89.92 94.49 4.57 2.81
----------------------------------------------------------------------------
CFR0589 Supremo T3 Infill 118.87 126.49 7.62 0.78
----------------------------------------------------------------------------
And Supremo T3 Infill 147.83 152.4 4.57 0.97
----------------------------------------------------------------------------
CFR0590 Supremo T3 Infill 94.49 96.01 1.52 4.60
----------------------------------------------------------------------------
And Supremo T3 Infill 147.83 158.5 10.67 3.14
----------------------------------------------------------------------------
CFR0591 Supremo T3 Infill 41.15 45.72 4.57 0.83
----------------------------------------------------------------------------
CFR0592 Supremo T3 Infill 92.96 108.2 15.24 1.05
----------------------------------------------------------------------------
CFR0593 Supremo T3 Infill 65.53 67.06 1.53 3.18
----------------------------------------------------------------------------
And Supremo T3 Infill 102.11 108.2 6.09 2.52
----------------------------------------------------------------------------
And Supremo T3 Infill 124.97 140.21 15.24 1.11
----------------------------------------------------------------------------
CFR0594 Supremo T3 Infill 126.49 164.59 38.10 1.10
----------------------------------------------------------------------------
CFR0595 Supremo T3 Infill 7.62 15.24 7.62 5.38
----------------------------------------------------------------------------
CFR0526 Supremo T1-2 NSV
----------------------------------------------------------------------------
CFR0527 Supremo T1-2 NSV
----------------------------------------------------------------------------
CFR0528 Supremo T1-2 132.59 134.11 1.52 1.08
----------------------------------------------------------------------------
CFR0529 Supremo T1-2 NSV
----------------------------------------------------------------------------
CFD0307 Supremo T4 11 14 3 1.84
----------------------------------------------------------------------------
And Supremo T4 29 35 6 7.48
----------------------------------------------------------------------------
And Supremo T4 42 43 1 9.95
----------------------------------------------------------------------------
CFD0308 Supremo T4 18 22 4 1.53
----------------------------------------------------------------------------
CFD0309 Supremo T4 80 82 2 1.70
----------------------------------------------------------------------------
(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.
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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