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Kaminak
Reports New Gold Occurrences from Yukon�s
White District: Trenching on the Coffee Property yields 2.30 g/t Au over
21.0m
August 13, 2009
Vancouver, B.C. � Kaminak Gold
Corporation (KAM: TSX-V) is pleased to
announce assay results from the first batch of 2009 rock samples on the
Company�s 100% owned Coffee property, located in the newly recognized White
Gold District of Yukon. This news release announces results from the first 50
rock samples collected from newly completed trenches and represents only 5%
of the total area to be trenched and sampled this season.
Key
Point Summary:
- Continuous
chip sampling of sub-cropping trench material yields 2.30 g/t Au over
21.0m.
- Mineralization
hosted in pyrite-bearing and quartz-sericite altered felsic augen gneiss
- Overall
style and setting of gold mineralization resembles nearby discoveries
made by Underworld Resources Ltd.
- New
claims staked in order to cover favourable geology
�These assays
are from a small portion of the larger, untested gold-in soil anomaly present
on the Coffee property; we will continue to systematically trench the entire
soil anomaly this summer,� stated Rob Carpenter, President and
CEO of Kaminak. �These results indicate
the Coffee property has excellent potential to host bulk tonnage or
�Underworld-style� gold deposits.�
Description of Mineralization
Anomalous gold values are associated with heavily
bleached and weathered rock comprised primarily of sericite and quartz. This
host rock is heavily altered; however, a progression from fresh felsic augen
gneiss can be observed within the trenches. There also seems to be a
correlation between high gold values and several pathfinder elements,
including arsenic (As), antimony (Sb), molybdenum (Mo), mercury (Hg) and
barium (Ba).
Fifty samples were collected from newly dug shallow
trenches (total length of 235m) located on top of previously defined
gold-in-soil anomalies. Sample material consisted of rubble sub-crop which is
interpreted to be in-place. Forty-seven of these samples were taken across 5m
or 6m intervals and are considered continuous chip samples. Three grab
samples were also taken from the trenches but these values were not included
when making grade-interval calculations.
Overall, gold values for 50 total samples ranged
from below detection level to a high of 5.84 g/t Au. Nine samples returned
values >1.0 g/t Au. Continuous sampling over a 21m trench interval yielded
a composite average grade of 2.30 g/t Au. Individual assays from this 21m
interval ranged from 1.44 g/t Au to 2.60 g/t Au. A grab sample taken from
this trench returned 5.84 g/t Au. Furthermore, a separate zone in the same
trench located 15m away yielded 1.34 g/t Au over 10m.
Information regarding the orientation, true width or
depth extent of this new gold zone is not currently known. Follow-up
and detailed geological mapping and sampling will be completed this season
and this work will aid in our geological modeling of the gold zone.
Field Update
Kaminak has also staked an additional 3,400 acres along the
southern and eastern boundaries of the Coffee property. This ground was
staked in order to cover geology favourable for the discovery of gold.
Sampling and mapping of trenches on the Coffee property
is ongoing and is expected to be completed within the next two weeks. Assays
from these trenches will likely be available in 4 weeks. Follow-up sampling
and detailed trenching from anomalous areas is also expected to be completed
this summer. Approximately 3,000 soil samples have been collected from
previously unexplored portions of the Coffee property. Results from this
survey are expected in the next 2 weeks.
Geological mapping and soil sampling on Kaminak�s
Kirkman property will be completed in the next two weeks and rock samples
taken from new exposures on the property are currently at the lab awaiting
analysis.
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. Rock
samples were shipped to Acme Laboratories of Vancouver, B.C. for analyses. Samples
were crushed and pulverized using a mild steel ring and puck mill. 30 gram aliquots were
then weighed into fire assay crucibles and the samples are placed in a cupel
and fired at 950 degrees Celsius. After cooling, 10 ml of HCl is
added in order to dissolve gold particles. Solutions are analysed for Au on a
Varian 735 ICP-ES. Certified reference materials are inserted into the batch
and results were verified by a British Columbia Certified assayer. The Coffee
property represents an early stage exploration property and does not contain
any mineral resources as defined by National Instrument 43-101.
About Kaminak
Kaminak Gold Corporation is an opportunity focused,
prospect generator whose technical strength and entrepreneurial drive is
complemented by a proven, successful business model designed to create
shareholder value. The company has an extensive portfolio of discovery-stage
projects that offer world-class exploration potential and present exposure to
strategic commodities with an emphasis on gold.
Kaminak�s financial discipline has enabled the
company to acquire a healthy treasury, remain debt-free and maintain a very
low corporate burn-rate. Well positioned to take advantage of the
current market, Kaminak is actively engaged in seeking out market-friendly
opportunities that are value-driven with high-potential for discovery.
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, Investor Relations, at toll free
1.888.331.2269, directly at 604.646.4534 or by email at info@kaminak.com.
The TSX Venture Exchange has not reviewed and does
not accept responsibility for the adequacy or accuracy of this release.
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