Kingsman Resources Inc.: Molybdenum Luxor Property Update, Site Visit and Option Grant
11 8월 2010 - 12:45AM
Marketwired
Kingsman Resources Inc. (TSX VENTURE: KSM) ceased trail
construction on July 26, 2010 due to high risk of forest fires and
expects to start drilling operations in September when the risk is
reduced. Drill access construction at the Luxor project has
uncovered molybdenum bearing altered granitic rocks over
approximately 200 metres in newly exposed rock cuts. Molybdenite
occurs as fine disseminated grains within the intrusive rocks and
importantly within quartz veins with pyrite. Coarse aggregates of
molybdenite are seen both as selvages to and within quartz veins.
Selected samples of quartz vein material returned up to 2.59% Mo.
These molybdenum exposures occur within a cohesive soil geochemical
anomaly measuring approximately 1 kilometre long by 100 to 450
metres wide.
On July 30th, 2010 Ted Drummond, COO and Robert McLaughlin,
President and CEO of Kingsman Resources Inc. (TSX VENTURE: KSM)
("Kingsman") welcomed Mayor Mike Fennell of Barriere B.C., Bob
Hayward of the Star Journal news paper, Ellsworth Dickson, Editor
of Resource World Magazine, CBC Editor Jackie Sharkey and Bruce
Madu, Senior Regional Geologist from Mines, Kamloops Region, for a
review of progress at the Luxor Moly Property located north of the
town of Barriere B.C. and approximately 80 kilometres north of
Kamloops, in south-central B.C.
Geological support for the day was by Bernie Augsten P. Geo, Dr.
Robert Thompson P. Eng, and Dr. Renee Hetherington,
Environment.
Prior visits were made by Boris Karpoff, P. Eng, former mine
geologist and general mine superintendent for the Sullivan Group,
and Ed Kimura former Placer Dome Exploration Manager and Senior
Geologist at the Endako Moly Mine for 16 years.
Kingsman Resources Inc. has granted a total of 1,330,000
incentive stock options. Subject to the approval of the TSX Venture
Exchange, each stock option is exercisable into one common share of
the company at a price of ten cents per share for a period of five
years. Of the options being granted, a total of 720,000 are being
granted to directors and officers of the company.
Bernhardt Augsten, P.Geo., a qualified person, has reviewed the
technical information in this news release.
About Kingsman Resources Inc.
Kingsman Resources Inc. is an exploration and development
company with a focus on gold, silver, molybdenum, tellurium and
copper. Kingsman Resources trades on the TSX Venture Exchange under
the symbol "KSM".
On Behalf of the Board of Directors
KINGSMAN RESOURCES INC.
Robert McLaughlin, Director
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the contents of this
news release.
Contacts: Kingsman Resources Inc. Ted Drummond (604) 926-4062
www.kingsmanresources.com
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