Kaminak Announces Phase One Drill Plan for
the 2011 Coffee Exploration Program
Kaminak Gold Corporation (KAM: TSX-V)
today announced the drill plan for the aggressive 2011 initial exploration
program on the Company�s 100% owned Coffee Gold Project, located in the White
Gold District, Yukon Territory. As previously announced on 12th January
2011, the Kaminak Board of Directors approved a �Phase One� exploration program
budget of $15 million to drill up to 40,000 metres and collect 10,000 new soil
samples in previous unexplored regions of the property.
Key objectives for Kaminak�s 2011 program:
and define geometry on the 8 gold zones discovered in 2010
towards National Instrument 43-101 compliant inferred resources on
to discover new gold zones across the Coffee property by drill testing
high-quality soil anomalies
�Our goal is to ultimately define near-surface gold resources across the
vast property,� stated Rob Carpenter, Kaminak�s
President & CEO. �Our strategy of drilling beneath in-situ
gold-in-soil trends led to 8 drill discoveries in 2010, and to date, only 10%
of the property has been systematically explored.�
The Company has developed the following strategy and timeline to
complete the Phase One Exploration Program consisting of up to 40,000 metres of
drilling (four drills), collection of 10,000 soil samples and ground
geophysical orientation surveys over priority areas. A detailed plan
illustrating proposed drill hole locations is
available on the Kaminak website at www.kaminak.com. The company expects the drilling season to begin in April and
run continuously through to at least October.
2011: Aggressive expansion drilling programs
commence at Latte, Supremo, Double Double and Connector gold zones.
2011: Soil Sampling commences at
Coffee and regional targets including the new Sugar trend.
2011: Kona, Americano and
Espresso aggressive expansion drilling programs. Commencement of Phase Two infill drilling as needed.
2011: Drill test new targets including
Sugar, Macchiato, Americano West and Cappuccino.
Ground geophysical surveys will commence in early April starting with
orientation surveys over known gold zones with the aim to detect the
geophysical signature of gold mineralization. Initial methods will
comprise Horizontal Loop Electromagnetic (�HLEM�), OhmMapper and Induced
Polarization (�IP�) surveys with the aim to detect gold mineralization along
trend and at depth.
Drilling is planned to commence on Supremo-Latte-Double Double-Connector
gold trends in mid-April and will comprise up to 30,000 metres of diamond core
and reverse circulation (RC) percussion drilling. These zones all come to
surface and occur within close proximity of each other and represent the
highest priority targets known to date. Drilling will focus on expanding
the known mineralized structures along trend and at depth. It is
anticipated that this phase of the drill program will be completed by late
June, thereby, allowing a mid-season review of the results to date and a
decision on �Phase Two� infill drilling. The remainder of the Phase One drilling
will be allocated to the Kona-Americano-Espresso zones as well as exploration
drilling of new and untested gold-in-soil-trends.
Since only 10% of the Coffee property has been systematically soil
sampled, the company believes new priority drill targets will be generated
through additional soil sampling. Beginning in June a total of 10,000
soil samples will be collected by Ground Truth Exploration Inc. across the
Coffee property and initial results will be expected by July 2011. The
soil sampling programs will seek extensions to the existing high tenor
gold-in-soil anomalies at Coffee, and also comprise of systematic grid sampling
over the newly defined �Sugar� gold-in-soil anomaly and comprehensive first
pass ridge-line soil sampling across the Coffee Property. Drilling of any of
new anomalies could be completed as early as August.
Kaminak�s disclosure of a technical or scientific nature in this press
release has been reviewed and approved by Dr. Rob Carpenter, Ph.D., P.Geo.,
Kaminak�s President and CEO, who serves as a Qualified Person under the
definition of National Instrument 43-101. The Coffee property represents an
early stage exploration property and does not contain any mineral resources as
defined by National Instrument 43-101.
On behalf of the Board of Directors of Kaminak
Rob Carpenter, Ph.D., P.Geo.
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 or contact Tony Reda, Vice-President of Corporate Development,
at toll free 1.888.331.2269, directly at 604.646.4534 or by email at firstname.lastname@example.org. Kaminak is a member of the Discovery Group of companies. For more
information on the group please visit www.discoveryexp.com.
Neither the TSX Venture Exchange nor
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TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
Certain disclosures in this release, including
management's assessment of plans and projects and intentions with respect to
listings of securities, use of proceeds 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. 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.