Kestrel Gold Inc. Announces Summer-Fall Drilling Results at King Solomon's Dome Property, Yukon and Termination of Rackla Met...
29 11월 2013 - 3:21AM
Marketwired Canada
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Mr. Kevin Nephin, the President of Kestrel Gold Inc. ("Kestrel" or the
"Corporation") (TSX VENTURE:KGC) announces the results of the summer-fall
diamond drilling program carried out on the King Solomon's Dome ("KSD") property
in conjunction with Rackla Metals Inc. ("Rackla"). The road accessible property,
jointly explored by the Corporation and Rackla, is located in the heart of the
Klondike goldfields, roughly 30 km southeast of Dawson City in the Yukon
Territory.
Three diamond drill holes were completed (1,191m), spaced approximately 250 to
300 metres apart, to test known quartz veins, surface rock and soil geochemical
anomalies and resistivity and induced polarization (IP) geophysical anomalies.
The holes were drilled on a westerly to south westerly azimuth and inclined
between 50 and 55 degrees at the collars. A map of the drill locations will be
shown on Kestrel's website at www.kestrelgold.com.
All three holes intersected low grade gold mineralization with some high grade
gold (up to 4.89 g/t Au) in hole DDH13-02, particulars of which are set forth
below.
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INTERVAL (m)
INTERVAL
HOLE From To LENGTH (m) Au g/t
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DDH13-01 217.0 218.0 1.0 0.35
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DDH13-01 223.0 224.0 1.0 0.27
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DDH13-02 34.0 43.0 9.0 0.27
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including 2.0 0.66
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DDH13-02 53.90 57.91 4.01 0.27
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including 0.13 4.89
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DDH13-02 63.0 65.53 2.53 0.50
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including 0.53 1.80
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DDH13-02 116.0 118.0 2.0 0.43
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DDH13-02 121.0 126.09 5.09 0.35
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including 0.29 1.08
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DDH13-02 244.0 246.00 2.0 0.37
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DDH13-03 189.0 195.5 6.5 0.65
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including 1.5 2.48
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The several intervals of gold mineralization in DDH13-02 between 34 metres and
127 metres down hole, are believed to be related to the easterly dipping Sheba
Vein system and it's hanging wall mineralization as was sampled in 2011 by
Kestrel at surface (see Kestrel Gold Inc. news release: December 16, 2011). The
gold mineralization, although generally low grade, shows continuity with surface
trench sampling and remains open to depth.
The two zones of gold mineralization encountered in DDH13-01 and DDH13-03 are
believed correlate with the geophysical chargeability anomaly at depths of 217 -
224 metres and 189 - 195.5 metres respectively and increased sulphide content.
At least two phases of silicification are recognized, with the later quartz
veining generally having increased gold content. Where gold mineralization
occurs, quartz veins and silicified wall rock in some cases, exhibit very
localized brecciation with sulphides, mainly pyrite, occurring as matrix
in-fills, fracture filling as well as being disseminated. Occasional blebs of
galena and sphalerite are present. The sulphide zones often have corresponding
elevated arsenic and/or elevated lead and zinc values with sporadic silver
values up to 45.6 g/t Ag, consistent with surface pathfinder geochemical
signatures. Sericitic and limonitic alteration is proximal to the anomalous and
mineralized quartz veins in places. Haloes of wall rock with increased magnetite
occur several metres from the gold mineralization in DDH13-03.
The Klondike chloritic schist host lithology is fairly homogeneous across the
three holes but the level of structural complexity varies - suggesting that the
frequency, distribution, orientation and nature of cross cutting structures
needs to be incorporated into the geological model to help delineate possible
zones of higher grade gold and silver mineralization.
No visible gold was encountered as has been historically reported at surface and
no samples returned greater than 5 g/t Au in the three holes. Kestrel is
planning to conduct further analyses to investigate if a "nugget effect" is
present in some of the drill core. The limited scope of the 2013 fall drilling
campaign has partially explained the large geophysical anomaly but large areas
of the soil and rock surface geochemical anomaly remain untested. Kestrel is of
the opinion that this initial and modest diamond drill program does not preclude
the possibility that high grade zones of gold and silver mineralization are
present elsewhere on the KSD Property.
Untested zones include:
-- Other geophysical anomalies - in particular on the western side of the
KSD Property nearer to the "Dome" peak - that have different resistivity
signatures to the drilled anomaly.
-- The high grade gold area sampled in the vicinity of the Mitchell vein
some 750 metres NNW of DDH13-02 with a corresponding geochemical soil
anomaly (Kestrel news releases: December 16 and 14, 2011).
-- The property wide extent of the large gold geochemical soil anomaly with
samples of up to 4 g/t Au some 1.5km along strike south from DDH13-03.
Planned further drilling and trenching in 2014 is anticipated to coincide with a
first phase diamond drilling program on the Corporation's Gold Run property 20
km along strike of the KSD Property, where Kestrel's 2011 soil sampling program
has confirmed the presence of previously defined anomalous gold in soil in the
area of the "Doron Zone" trenches (see Kestrel news release: November 18, 2011).
All anticipated 2014 exploration work on the KSD Property and Gold Run property
is contingent upon Kestrel obtaining further financing.
Kestrel has been advised by Rackla that sampling was conducted under the
supervision of the on-site project geologist of Rackla. Samples were tracked by
the project geologist from the project site to the sample preparation facility
and were transported by Rackla personnel or commercial trucking companies.
Samples are generally 0.5 to 1.5 m in length. Rock pulp standards, blank gravel
aggregate, and lab duplicates were inserted into the sample stream each at a
rate of one per 30 samples, for a total of 9-per-cent check samples. All data
received from the laboratory was verified for quality control using both the
laboratory and the inline check samples.
All samples were sent to Acme Analytical Laboratories Ltd.'s preparation
facility in Whitehorse, Yukon Territory, for crushing and pulping. Pulp splits
were forwarded from Whitehorse by Acme to its laboratory in Vancouver, B.C., for
analysis. Gold in rock samples was determined by a 30-gram fire assay fusion
followed by ICP-ES analysis (method 3B01). An additional 32 elements were
analyzed by a 0.5-gram sample split leached in hot aqua regia followed by ICP-ES
analysis (method 1D).
The reader is referred to Kestrel's website at www.kestrelgold.com for
background information on the KSD property.
In addition to the foregoing, Rackla has terminated the previous announced
Option Agreement, dated August 30, 2013 and has relinquished all interest
whatsoever back to Kestrel in the KSD Property.
Technical aspects of this news release have been reviewed and approved by W. A.
Taylor, P. Geo, hereby designated as a qualified person under National
Instrument 43-101.
About Kestrel Gold Inc.
Kestrel Gold Inc. is a gold exploration corporation headquartered in Canada.
Kestrel Gold (TSX VENTURE:KGC) is listed on the TSX Venture Exchange Inc.
Kestrel, in conjunction with Rackla is the first to diamond drill at the KSD
property which is the high point of a prominent topographical feature from which
some of the richest producing placer gold creeks of the great Klondike gold rush
(to the present day), find their headwaters. Kestrel's principal properties
include King Solomon's Dome, Gold Run Creek and Dominion Mountain, located in
the Dawson Mining District, Yukon Territory, Canada.
Cautionary Statements
This news release contains "forward-looking information" within the meaning of
applicable securities laws relating to certain explorations activities,
including the contemplated future exploration and potential mineralization of
the King Solomon Dome group of properties. Readers are cautioned to not place
undue reliance on forward-looking statements. Forward-looking statements are
based on certain key assumptions made by the Corporation, including assumptions
based on the Corporation's current exploration results, and assumptions related
to obtaining sufficient financing and other resources to carry out any future
exploration. Actual results and developments may differ materially from those
contemplated by these statements depending on, among other things, the inherent
risks involved in the exploration and development of mineral properties, the
uncertainties involved in interpreting exploration results and other geological
data and the ability of the Corporation to obtain the funds and resources
required to carry out further exploration. The forward-looking statements in
this press release are made as of the date of this release and the Corporation
undertakes no obligation to update publicly or revise any forward looking
statements whether as a result of new information or otherwise, except as
required by applicable securities laws. The Corporation undertakes no obligation
to comment on analyses, expectations or statements made by third parties in
respect of the Corporation or its financial or operating results or (as
applicable) their securities.
The TSX Venture Exchange has not reviewed and does not accept responsibility for
the adequacy or accuracy of this news release.
Not for distribution to U.S. Newswire Services or for dissemination in the
United States. Any failure to comply with this restriction may constitute a
violation of U.S. Securities laws.
FOR FURTHER INFORMATION PLEASE CONTACT:
Kestrel Gold Inc.
Kevin Nephin
President & CEO
(604) 824-6056
kvnephin@gmail.com
www.kestrelgold.com
Kestrel Gold (TSXV:KGC)
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