August 11, 2010
Vancouver, B.C. - Kaminak Gold Corporation (KAM: TSX-V) today announced the third significant drill discovery on the Company�s 100% owned Coffee Project, located in the White Gold District, Yukon Territory. Drill hole CFD-27 from the �Double Double� zone returned a high-grade intercept of 6.3 grams per tonne gold (g/t Au) over 35m core length. The Double Double zone is located 1km east of the Latte zone and 1km south of the Supremo zone and was discovered through drilling underneath a high-quality gold-in-soil anomaly.
Drill Highlights
- New gold discovery drilled at "Double Double Zone" - 1 km to the south of the Supremo Zone gold discovery and 1km east of the Latte Zone gold discovery
- CFD-027 intersected an upper zone of 2.04 grams per tonne gold (g/t Au) over 9m (from 34m core depth) and a lower zone of 6.3 g/t Au over 35m (from 139m core depth)
- Double Double Zone is associated with a regionally significant, east-northeast trending and steeply north dipping structural splay of the Latte shear zone and remains open along strike and at depth
- Gold-bearing rocks at Double Double closely resemble rocks from the nearby Supremo and Latte Zones, i.e. extensive silicification, clay alteration, oxidized pyrite and brecciation accompanied by As-Ag-Sb-Ba enrichment
- A total of 4 drill holes have been completed at the Double Double Zone over a 200m length. Samples for hole CFD-28 are currently being processed at the assay laboratory
�Double Double was discovered by drilling high quality gold-in-soil anomalies coincident with favourable structure, stated Rob Carpenter, Kaminak�s President & CEO. �This proven exploration strategy has resulted in three gold discoveries on the property so far in 2010. We will continue to drill test other soil anomalies across the property.�
Drill Results
The Double Double Zone is associated with a regionally significant, east-northeast trending and steeply north dipping structure co-incident with a 300m long by 100m wide gold-in-soil anomaly. The structure is comprised of shear zone and breccia fabrics overprinting variably-textured schist giving the overall appearance of a high-strain fault zone. Gold occurs in this fault zone and alteration typically consists of silicification, clay alteration local sericite and oxidized sulphides.
Drill hole CFD-27 and CFD-28 were drilled to the north at -50 and -70 angles respectively and are located 200m east of previously drilled holes CFD-13 and CFD-14. Drill hole CFD-13 intersected 1.43 g/t Au over 5m within highly sheared and altered rocks (see Kaminak news release dated August 5th, 2010). This result prompted Kaminak�s technical team to re-evaluate the overall setting of gold at the Double Double prospect resulting in the subsequent drilling of CFD-27. Two significant gold zones were encountered in CFD-27 comprising an upper zone of 2.04 g/t Au over 9m (from 34m core depth) and a lower high-grade intercept of 6.3 g/t Au over 35m (from 139m), including 18m grading 10.42 g/t Au (from 156m). Assays from CFD-28 are pending.
Data from oriented core measurements combined with detailed geological core logging from CFD-27 and CFD-28 suggest the high-grade lower intercept from CFD-27 is hosted in a north dipping orientation and as a result the undercut hole CFD-28 may not have intersected the mineralization. Follow-up drilling directed north to south will be required to properly determine the correct orientations; however, Kaminak considers these new results as highly encouraging.
A detailed plan map, cross-section, assay sheet and photo montage of select core samples are available on the Kaminak website at www.kaminak.com.
Drill Hole # |
From (m) |
To (m) |
Length (m) |
Weighted Grade (g/t) |
CFD-27 |
34 |
43 |
9 |
2.04 |
and |
139 |
174 |
35 |
6.30 |
including |
156 |
174 |
18 |
10.42 |
*true width is estimated at 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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts 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. |