Kaminak Expands Supremo and Double Double Gold Zones: New Results include: 36.3 g/t Au over 3.5m; 19.1 g/t Au over 6m; 16.5 g/t Au over 4.5m; 13.1 g/t Au over 6.1m and 2.6 g/t Au over 32m
Vancouver, B.C. – Kaminak Gold Corporation (KAM: TSX-V) today announced results for 39 reverse circulation (RC) drill holes and 24 diamond core drill holes from the Coffee Gold Project, Yukon Territory. Assays are presented from three gold trends comprising the T3 and T5 zones at Supremo and the nearby Double Double zone.
Key Point Summary
- Double Double Zone: First four holes drilled in 2012 successfully extended the known gold trend an additional 100m; total strike length is now at least 300m. Results include: 36.3 g/t Au (grams per tonne gold) over 3.5m (from 51.5m core length); 16.5 g/t Au over 4.5m (from 71m) and 5.8 g/t Au over 8m (from 79m). All zones remain open along trend and to depth. Thirteen additional holes are pending / planned along this 600m long gold-in-soil anomaly.
- T4-5 Zone (Supremo): Drilling in early 2012 identified a new near-surface gold trend initially defined over 50m in length. Additional drilling has now expanded the trend at least 600m in length. Results include: 13.1 g/t Au over 6.1m (from 119m); 4.3 g/t Au over 13.7m (from surface); 5.6 g/t Au over 9.1m (from 172m); 3.9 g/t Au over 13.7m (from 154m) and 3.0 g/t Au over 12.2m (from 169m).
- T3 Zone (Supremo): Drilling successfully extended trace of gold zone an additional 300m; total strike length of T3 zone is now at least 1000m. Results include: 19.1 g/t Au over 6m (from 164m); 2.6 g/t Au over 32m (from 102m depth); 10 g/t Au over 4m (from 145m depth); 16.5 g/t Au over 2m (from 67m depth) and 6.7 g/t Au over 5m (from 70m depth).
- Four drills are operating on the Coffee property and a fifth will be added by early July. Over 20,000m has been drilled to date, and Kaminak is scheduled to complete its 2012 objective of 50,000m on budget. Three drills are active at Supremo (2 diamond and 1 RC) and a fourth drill (diamond) is at Double Double. Drilling of the Sugar trend is expected to start in the third week of June.
Gold mineralization is hosted within brittle fractures and brecciated gneisses and felsic-intermediate intrusive rocks, accompanied by silica flooding and pyrite (oxidized to limonite/hematite) alteration. Higher‐grade gold is associated with intense quartz-sericite alteration and high pyrite/limonite content. The mineralized structures are totally to partially oxidized to approximately 150m below surface. Geological similarities between all gold zones at Coffee suggest these zones are related to the same mineralizing event, and as a result, are potentially connected along trend and at depth. All gold zones drilled to date in 2012 start at surface and remain open down dip and along strike. All maps, sections and assay sheets are currently available on the Kaminak website,www.kaminak.com .
Diamond core drilling commenced in early May at Double Double with 50m step-outs along strike of the drilling completed over the 2010/11 field seasons. To date, an additional 100m of strike has been added to the trend with the 2012 results of 36.29g/t Au over 3.5m (from 51.5m) and 16.53g/t Au over 4.5m (from 71m) being consistent with the previously intersected relatively high grade zones. Mineralization occurs in discrete east-northeast trending, steeply-dipping to vertical lodes characterized by intense silicification, polyphase breccia and strong clay and sulphides. Continued drilling (assays pending) along strike is testing the depth potential of the 600m long >100ppb Au gold-in-soil anomaly.
Reverse circulation (RC) drilling commenced in mid–March, with the first batch of assay results from T4-5 released on April 23, 2012 (see news releases March 19th and April 23rd, 2012). The drill program is designed to test the shallow and oxidized gold potential of the T4 and T5 structural trend. Total drilled strike length of the T4-5 trend, which is interpreted to connect with drill intercepts from 2011 RC drilling further to the north, is currently approximately 1000m. Results include: 13.1 g/t Au over 6.1m (from 119m); 4.3 g/t Au over 13.7m (from surface); 5.6 g/t Au over 9.1m (from 172m); 3.9 g/t Au over 13.7m (from 154m) and 3.0 g/t Au over 12.2m (from 169m). Ongoing drilling continues (assays pending) to test the T4 and T5 trends, which diverge and are interpreted to be striking towards the Connector/Latte and Double Double zones respectively.
Two diamond core drills commenced drilling on T3 in early April stepping out along strike towards the Connector Zone located approximately 1km to the south. Drilling has continued to intersect a north-south striking, steeply east dipping structural corridor containing one or more mineralized lodes. Results include: 19.1 g/t Au over 6m (from 164m); 2.6 g/t Au over 32m (from 102m depth); 10 g/t Au over 4m (from 145m depth); 16.5 g/t Au over 2m (from 67m depth) and 6.7 g/t Au over 5m (from 70m depth). In total, the assay results received to date indicate an additional 300m strike has been added to the 700m already delineated in 2010-2011, for a total strike length of 1000m to date. Drilling is continuing on the southward extension of the T3 trend towards Connector (assays pending).
The 2012 Coffee Gold Project drilling program is designed to connect known gold zones along trend and discover additional near-surface gold mineralization, building towards the maiden National Instrument 43-101 mineral resource estimate expected early 2013. In addition, the 2012 program will include the first ever drilling of the Sugar gold-in-soil anomaly, located 20km east of Coffee.
The ongoing drilling programs at Coffee continue to further define the strike extent of the Supremo and Double Double gold trends. Four drills are currently operating at Coffee, with one drill scheduled to commence drilling of the Sugar zone in the third week of June. A second RC drill will be added by early July, bringing the total to five drills operating across the Coffee property.
To read the entire news release follow the link below:
June 4, 2012 (Source: Kaminak Gold Corp.)
Disclosure: Kaminak Gold Corp. is a Vulture Bargain Candidate of Interest (VBCI). Members of the GGR team hold long positions in KAM.V.