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Re: Kiska News - Monday, November 02, 2009
Kiska drills 106.9 metres of 1.22 g/t gold at Island Mountain
area, Whistler, Alaska
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KSKPR09-06
Vancouver, BC -- November 2, 2009: Kiska Metals Corporation, TSX-V:KSK,
("Kiska") is pleased to announce the discovery of a new mineralized
zone at the Island Mountain target, located approximately 23 kilometres
south of the Whistler deposit resource area. The first of five holes
completed in the 2009 drilling program returned 0.68 g/t gold over
382.9 metres. The hole returned an upper interval, 150.0 metres in
drilled length that averaged 0.72 g/t gold and a lower 106.9 metre
intersection from 280.0 metres to the end of the hole that averaged
1.22 g/t gold. Copper results are pending and will be announced when
received. Island Mountain represents a porphyry target distinct from
the Whistler deposit which hosts a NI43-101 compliant indicated
resource of 1.31 million ounces gold-equivalent and an inferred
resource of 4.44 million ounces gold-equivalent (see Appendix 1 for
details).
"This discovery at Island Mountain on our first hole of the program is
extremely encouraging," stated Jason Weber, President and CEO of Kiska.
"Gold grades appear to be getting stronger at depth, with the hole
ending in some the strongest gold mineralization encountered. This
suggests that there is excellent potential to expand upon these results
both at depth and laterally. The 2009-2010 program at the Whistler
project is designed to test targets distal to the existing Whistler
resource to assess the overall potential of the greater Whistler
project area."
Island Mountain consists of Whistler-equivalent intrusive rocks,
anomalous copper and gold rock and soil geochemistry and associated
gossans covering a 2.5 by 4.0 kilometre area. The discovery hole
targeted a 150 metre diameter exposure of hydrothermal breccia at the
southern end of Island Mountain where surface rock samples have
returned values up to 1.19 g/t gold, 5.2 g/t silver and 0.2% copper.
Similar gold and copper bearing breccias are noted 600 metres northeast
and 500 metres southeast of the discovery hole, and reconnaissance soil
sampling extending 1.6 kilometres to the northeast from this hole are
strongly anomalous in copper and gold. Hole IM09-001 intersected two
gold bearing zones. The upper zone (150.0 metres averaging 0.72 g/t
gold), corresponding to the breccia targeted on surface, consists of an
actinolite-magnetite hydrothermal breccia with
pyrrhotite>pyrite>chalcopyrite. The lower gold-bearing zone (106.9
metres averaging 1.22 g/t gold), from 280.0 to the 386.9 metres (end of
hole) consists of pyrrhotite veins and vein halos of net textured
pyrrhotite surrounding veins. A second Island Mountain hole (IM09-002)
was completed 1.7 kilometres to the north of the first hole, returning
0.13 g/t gold over 202.3. Although anomalous in gold over its entire
length, the hole was lost due to technical reasons prior to reaching
target depth.
Island Mountain
Diamond Drilling
IM09-001: Azimuth 085, Dip -50, Total Depth 386.9 m
>From (m) To (m) Length (m) Gold (g/t)
4.0 386.9* 382.9 0.68
Including 44.0 194.0 150.0 0.72
and 280.0 386.9* 106.9 1.22
IM09-002: Azimuth 135, Dip -60, Total Depth 214.3 m
11.9 214.3 202.4* 0.13
* End of Hole
A total of five holes were completed in the current program. The three
remaining holes, for which any assay results have yet to be received,
targeted the Lightning, Digger and Raintree West targets, all of which
are in the Whistler Corridor (see Kiska website for a plan map
outlining the location of these holes). A 2008 hole at Raintree West,
located 1.5 kilometres east of the Whistler Deposit, returned 160
metres averaging 0.59g/t gold, 6.02g/t silver, 0.10% copper. Results
from the remaining three holes will be released when results are
received.
A further 15 holes are planned to test regional targets in the Whistler
corridor as part of a spring 2010 program. These holes will be targeted
on the basis of an Induced Polarization ("IP") geophysical survey (in
progress) as well as geological mapping, geochemistry and previously
collected airborne magnetic data. Follow up holes at Island Mountain
will be completed as soon as weather permits in the spring of 2010.
Induced Polarization Survey Update
Kiska is currently completing a large 3D and 2D IP survey of up to 340
line kilometers. The 2D portion of the survey was finished in September
whereas the 3D survey is approximately 70% complete with the finish
date estimated to be in the first week of December. IP geophysics is an
electrical geophysical technique well suited in detecting sub-surface
sulphide minerals such as copper-bearing chalcopyrite -- a mineral
closely associated with gold on the property.
About Kiska Metals Corp
Kiska Metals Corporation is a mineral exploration company with renowned
technical expertise and sizable exploration portfolio containing the
multi-million ounce Whistler gold deposit, numerous exciting early
stage exploration opportunities around the world and partnerships with
some of the world's largest and most successful gold and base metal
producers. Kiska resulted from the merger of Rimfire Minerals
Corporation and Geoinformatics Exploration in August 2009.
Qualified Person Statement
The content of this release has been reviewed and approved by Mark
Baknes P. Geo., Vice President of Exploration of Kiska Metals
Corporation. Mr. Baknes is a Qualified Person as defined under the
terms of National Instrument 43-101. All drill core samples are
analysed at Alaska Assay Laboratories in Fairbanks, Alaska.
On behalf of Kiska Metals Corporation
"Jason Weber"
Jason Weber, P.Geo., President & CEO
CAUTIONARY STATEMENT: No stock exchange, securities commission or other
regulatory authority has approved or disapproved the information
contained herein. This News Release includes certain "forward-looking
statements". Other than statements of historical fact, all statements
included in this release, including, without limitation, statements
regarding future plans and objectives of Kiska Metals Corporation, are
forward-looking statements that involve various risks and
uncertainties. There can be no assurance that such statements will
prove to be accurate, and actual results and future events could differ
materially from those anticipated in such statements. Important factors
that could cause actual results to differ materially from Kiska's
expectations are the risks detailed herein and from time to time in the
filings made by Kiska Metals Corporation with securities regulators.
Those filings can be found on the Internet at http://www.sedar.comand
http://www.sec.gov/edgar.
APPENDIX 1.
Mineral Resource Statement for the Whistler Gold Deposit, Alaska
Prepared by SRK Consulting (Canada) Inc February 2008.
Tonnes and Grades Total Contained Metal
Resource Category Tonnage (Mt) Gold (g/t) Silver (g/t) Copper (%) Gold
Eq3 g/t Gold (Moz) Silver (Moz) Copper (Mlb) Gold Eq3 (Moz)
Indicated (open-pit1) 30 0.87 2.46 0.24 1.35 0.84 2.37 159 1.31
Total Indicated 30 0.87 2.46 0.24 1.35 0.84 2.37 159 1.31
Inferred (open-pit1) 123 0.59 2.07 0.19 0.98 2.33 8.19 515 3.86
Inferred (underground2) 11 1.16 3.55 0.24 1.66 0.41 1.26 58 0.59
Total Inferred4 134 0.64 2.18 0.20 1.05 2.74 9.44 573 4.44
1. Reported within a conceptual pit shell and based at a cut-off grade
of 0.3 g/t gold equivalent adjusted for metallurgical recovery.
2. Reported based on an underground bulk mining method using a cut-off
grade of 1.1 g/t gold equivalent adjusted for metallurgical recovery;
3. Total grade and Total Contained Metal gold equivalent grade and
ounces estimated based on equal full recoveries, $550 per ounce gold,
$8 per ounce silver and $1.50 per pound of copper;
4. Totals may vary due to rounding.
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Copyright (c) 2009 KISKA METALS CORPORATION (RFM) All rights reserved.
For more information visit our website at http://www.kiskametals.com/
or send mailto:info@kiskametals.com
Message sent on Mon Nov 2, 2009 at 8:06:02 AM Pacific Time
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