June 7, 2010
Vancouver, B.C. - Kaminak Gold Corporation (KAM: TSX-V) is pleased to announce drill results from the first two holes completed at the Latte Zone, located on its 100% owned Coffee Project, Yukon Territory. The Latte Zone is situated approximately 1 kilometer south of the recently discovered Supremo Zone, where drilling earlier this season by Kaminak intersected 17.07 g/t Au over 15.5m. Latte and Supremo are hosted in separate structural corridors and are both open along trend and to depth.
- A total of 7 drill holes were completed at the Latte Zone over a 400m length. Assays from the first 2 holes are detailed in this release
- CFD-006 intersected 1.08 grams per tonne gold (g/t Au) over 83.93m (from 28.07m core depth)
- CFD-007 intersected 1.12 g/t Au over 55m (from 33m core length) in addition to a second zone of 1.24 g/t Au over 8m (from 101m core length)
- The Latte Zone is associated with a regionally significant, east-west trending, steeply-dipping structural corridor co-incident with a 1 kilometer long gold-in-soil anomaly. Regional geophysical surveys trace the Latte structural zone for over 8 kilometers
- Gold-bearing rocks at Latte closely resemble rocks from the Supremo Zone, i.e. extensive silica-sericite-clay alteration and brecciation accompanied by As-Ag-Sb-Ba enrichment
- Samples for the remaining 5 holes are currently being processed at the assay laboratory
�Latte represents our second major gold discovery on the Coffee property this spring and confirms that our exploration strategy of drilling underneath high quality gold-in-soil anomalies is working,� stated Rob Carpenter, President & CEO of Kaminak. �Moreover, the Coffee property is host to at least 8 such soil trends, and we will continue to methodically drill test each of these targets as well as expand the Supremo and Latte Zones along trend and at depth.�
The Latte Zone is associated with a regionally-significant, east-west trending and south-dipping structural corridor co-incident with a 1 kilometer long by 100m wide gold-in-soil anomaly. The structural corridor is comprised of variably-textured paragneiss and amphibolite that generally appears mylonitic or strongly foliated, giving the overall appearance of a high-strain fault zone. Gold mineralization is preferentially concentrated in the structural corridor and consists of silicification and oxidized sulphides hosted in brittle fractures and breccia zones that appear to overprint older fabrics.
Drill holes CFD-006 and CFD-007 were drilled to the north from the same set-up and were designed to test the depth extent of the 1 kilometer long gold-in-soil trend. Trenching of the soil anomaly near CFD-006 and CFD-007 by Kaminak in 2009 yielded 1.01 g/t Au over 10m. CFD-006 was drilled at a -50 degree angle and CFD-007 was drilled at a -70 degree angle. A detailed plan map, cross-section, assay sheet and photo montage of select core samples from these holes are available on the Kaminak website at www.kaminak.com.
Both holes intersected wide intervals of consistent gold content from shallow depths. Drill hole CFD-006 intersected 83.93m grading 1.08 g/t Au (starting from 28.07m core depth) and CFD-007 intersected 1.12 g/t Au over 55m (starting from 33m core depth) in addition to a second down hole interval of 1.24 g/t Au over 8m (starting from 101m core depth). These intercepts outline a broad, steep south-dipping mineralized zone which is open along trend and to depth.
|Drill Hole #
||Weighted Grade (g/t) |
*true width is estimated at 70-100% of core length
Comparison Between Latte and Supremo Zones
The Supremo and Latte gold zones are both hosted in As-Ag-Sb-Ba �enriched, altered paragneiss and amphibolite in addition to non-foliated �dacitic-looking� rocks accompanied by pervasive silicification and breccia textures. This suggests that the two discrete zones were formed during the same hydrothermal event although the gold mineralization at Supremo is north-south trending whereas the Latte gold zone is east-west trending. More drilling is needed to define the relationship between these two zones and the projected intersection of these two structures could be an important focus for gold. Several high-quality gold-in-soil anomalies occur at this projected intersection and Kaminak considers the area to be a high priority exploration target.
Trenching crews are currently being mobilized to the Coffee property and priority sampling will begin at the Supremo Zone and the area where the projected intersection of the Latte and Supremo Zones occurs. Soil sampling across the property is also underway and is designed to generate additional trenching targets in new unsampled areas. Approximately 90% of the 43 kilometer long property remains unexplored.
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, 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.
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.