August 5, 2010
Vancouver, B.C. - Kaminak Gold Corporation (KAM:TSXV) today announced assay results of 11 new step-out drill holes from the Supremo gold zone as well as results from the first 2 drill holes on the Double Double target, both located on the Company's 100% owned Coffee Property, Yukon Territory. To date, 14 holes have been drilled at Supremo along a single, north-south trending fault known as the "T-3" structure. This news release includes assay results from 10 drill holes along a 550m segment of T-3, where four previously released holes on this fault structure yielded a high of 17.63 g/t Au over 15m. Additionally, new surface exploration in the Supremo area has successfully identified 5 previously unknown altered fault structures across a 600m corridor. These new structures trend parallel to the well mineralized T-3 structure and represent priority targets. Drilling of these new structures is currently ongoing.
Key Results
CFD-16 � 21.3 grams per tonne gold (g/t Au) over 8m (starting at 53m core length) CFD-18 � 6.93 g/t Au over 7m (starting at 71m) plus 2.5 g/t Au over 7m (starting at 127m) CFD-21 - 1.38 g/t Au over 22m (starting at 60m) CFD-23 � 1.21 g/t Au over 51m (starting at 83m )
�Aggressive step-out drilling along the T-3 structure has returned wide, gold-bearing intervals in holes CFD-21 and CFD-23 located 400m north of previous drilling, � stated Rob Carpenter, President and CEO of Kaminak. �Establishing a strike length of at least 550m at T-3 so early in the drill season attests to the potential of the Supremo targets. �
Supremo Mineralization
The Supremo area was originally defined as a 1km long by 1km wide, strong gold-in-soil anomaly with co-incident arsenic and antimony pathfinder elements. Exploration work by Kaminak in 2010 has found that gold is in fact hosted within strongly altered, north-south trending and near vertical fault structures. These faults vary in width from a few meters up to 50 meters and consist of highly fractured and limonitic zones with varying amounts of silicification, brecciation and gold.
To date, drilling at Supremo has largely focussed on testing a 550m long segment of the T3 fault; however, new surface work by Kaminak has successfully identified at least 5 additional fault structures (T-2, T-4, T-5, T-6 and T-8) occurring across a 600m corridor. These fault structures were identified using geological mapping, trenching and detailed ground magnetic surveys. Drilling of these newly recognized structures is currently underway and results are pending.
Ten new holes were drilled to follow-up on the previous results returned for the Supremo T-3 structure, which previously yielded drill intercepts of up to 17.63 g/t Au over 15m and 3.26 g/t Au over 17.35m . Sections and plan view maps showing the location of the drill holes are available on the Company�s website at www.kaminak.com ..
CFD-15 comprised a scissor hole drilled from east to west targeting a previous intercept on the T-3 structure in CFD-2 of 5m at 4.9g/t Au from 72m . The intercept of 0.58g/t Au over 2m from 68m depth occurs in polyphase hydrothermal breccia identical in appearance to the previous high grade intercepts.
CFD-16 and 17 and CFD-18 and 19 comprise step-outs to the south of the discovery drill hole (CFD-1: 17.63 g/t Au over 15m) of 50m and 100m respectively. CFD-16 intersected 12.41g/t Au over 14m from 53m down hole (including 21.32g/t Au over 8m from 53m depth ). CFD-18 intersected 6.93g/t Au over 7m from 71m depth and a second lower mineralised structure of 2.51g/t Au over 7m from 127m depth . These intercepts, which consist of intense shearing/fracturing and hydrothermal polyphase breccias, silica replacement, and strong limonite weathering after sulphide mineralisation, confirm the continuity of the T-3 structure along strike. Furthermore, the T-3 structure remains open to the south. CFD-17 and 19, drilled as -70� under-cuts beneath CFD-16 and 18 respectively, both intersected the T-3 structure down-dip, with similar deformation and alteration logged; however, these intercepts contain low grade gold values.
CFD-20 tested the T-3 structure at depth on the same section as the discovery hole, successfully intersecting a zone of polyphase breccia, silica replacement and sulphide mineralisation at 240-250m down hole. Both gold and arsenic values were of low grade through this intercept.
The company�s technical team is currently investigating possible reasons for the gold grade distribution on the T-3 fault structure, including structural complexity (potential for plunging lodes), relationship to host rock rheology, and possible epithermal zonation, with the aim to better understand the geometry of the Supremo targets and improve predictability of gold mineralised zones and therefore the success rate in drill testing going forward. Nonetheless, it should be pointed out that Kaminak views these widely spaced drill results from Supremo as excellent and future in-fill drilling will be needed to refine detailed geometry of the ore zones.
CFD 21-22 and CFD 23-24 were drilled on 350m and 450m step outs (respectively) north of the T-3 discovery drill hole (CFD-1: 17.63 g/t Au over 15m). CFD-21 intersected 1.38g/t Au over 22m from 60m and CFD-23 intersected 1.21g/t Au over 51m from 83m. These results push the total strike length of the Supremo T-3 structure out to at least 550m north-south. Mineralisation is associated with a wide dacite dyke and in particular with sheared/fractured rock and polyphase breccia and strong limonite weathering after sulphide on the margins of the dyke. Mineralisation remains open along strike to the north.
Drill Hole CFD- 5 was drilled east to west to test a possible new mineralised structure - the �T-2� structure, which was identified from a 2009 trench assay result of 1.76g/t Au over 25m approximately 100m west of the T-3 structure. CFD-5 was abandoned due to mechanical problems and at 104.6m depth, having encountered clay alteration and sulphide mineralisation over the last 5.6m of the drill hole which subsequently returned an intercept of 0.54g/t Au over 5.6m from 99m, and which the Company�s technical team believed could represent the alteration halo to a high-grade mineralised structure. Recent drilling beneath CFD-5, comprising drill holes CFD-29 and 30, were completed on a west to east orientation to test this target. CFD-29 intersected a zone from 94-107 metres down hole comprising a dacite dyke with associated sheared/fractured margins and polyphase hydrothermal breccia. Assays are pending.
Double Double Drill Results
The Double Double target is located approximately 1.5km southeast of the Supremo area and consists of an east-west structural trend associated with a 900m long gold-in-soil anomaly. Two initial drill holes (CFD-13 and CFD-14) targeted the western portion of this soil anomaly. These holes were drilled from south to north at the same drill set-up. CFD-13 was drilled at a -50 degree angle and CFD-14 was drilled at a -70 degree angle. Both drill holes intersected multiple zones of shearing and alteration, with a best result from CFD-13 of 1.44g/t Au over 5m from 112m depth .
The deformation and alteration observed in CFD-13 encouraged the Company�s technical team to test a second target: two follow-up holes were drilled 200m east of CFD-13 and 14. These new holes (CFD-27 and CFD-28) tested beneath a 2009 trench assay result of 2.53g/t over 5 metres, intersecting a significant deformation/alteration zone from 140-174m depth, comprising intense shearing/fracturing and hydrothermal breccias, silica replacement, and strong limonite weathering after sulphide mineralisation. Oriented core indicates that the breccias fabric is dipping steeply north (180� to the expected dip orientation), and therefore follow-up drilling (if assays warrant) will be oriented north to south. Assays for CFD 27 and 28 are pending.
Hole ID |
PROSPECT |
From (m) |
To (m) |
LENGTH* (m) |
WEIGHTED GRADE (grams/tonne Au) |
|
|
|
|
|
|
CFD 5 |
Supremo |
99 |
104.6 |
5.55 |
0.54 |
|
|
|
|
|
|
CFD 13 |
Double Double |
112 |
117 |
5 |
1.43 |
|
|
|
|
|
|
CFD 14 |
Double Double |
- |
- |
- |
- |
|
|
|
|
|
|
CFD 15 |
Supremo |
68 |
70 |
2 |
0.58 |
|
|
|
|
|
|
CFD 16 |
Supremo |
53 |
67 |
14 |
12.43 |
|
|
|
|
|
|
CFD 17 |
Supremo |
86 |
88 |
2 |
0.14 |
|
|
|
|
|
|
CFD 18 |
Supremo |
71 127 |
78 134 |
7 7 |
6.93 2.51 |
|
|
|
|
|
|
CFD 19 |
Supremo |
- |
- |
- |
- |
|
|
|
|
|
|
CFD 20 |
Supremo |
- |
- |
- |
- |
|
|
|
|
|
|
CFD 21 |
Supremo |
60 |
82 |
22 |
1.38 |
|
|
|
|
|
|
CFD 22 |
Supremo |
143 |
146 |
3 |
1.32 |
|
|
|
|
|
|
CFD 23 |
Supremo |
82 |
133 |
51 |
1.27 |
|
|
|
|
|
|
CFD 24 |
Supremo |
147 |
162 |
16 |
0.55 |
*True widths range from 70-100% of core length
QA/QC
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. Quality assurance and quality control procedures include the systematic insertion of blanks and standards into the drill core sample string. Samples are placed in sealed bags and shipped directly by charter plane to the ALS CHEMEX preparatory laboratory in Whitehorse prior to gold fire assay and ICP-MS analysis. The Coffee property is 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�
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 info@kaminak.com .. Kaminak is a member of the Discovery Group of companies. For more information on the group please visit www.discoveryexp.com ..
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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. |