Kent Exploration Inc.

Published : October 30th, 2012

Reports On Archean Star Acquisition

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment
Keywords :   Barite |
logo 
 
 

News release                                                                                                                                              KEX2012-08

 

October 30, 2012                                                                                                        News Release

Kent Exploration Reports on Archean Star Proposed Option to Earn 80% Lease Interest on Historic Monitor Copper, Gold Mine, Silver Valley, Idaho.

 

Kent Exploration Inc, ("Kent" or the "Company") reports that Archean Star Resources Inc. ("Archean") a Company in which Kent has a 10 million common shareholding of, has announced it has entered into a Letter Agreement to earn an 80% interest in a Mining Lease on the historic Monitor Copper, Gold Mine in Shoshone County, Idaho ("Monitor" or "Monitor Mine").  The historic Monitor Mine is located approximately 30 km (17 mi) ESE from the town of Wallace, Idaho, in the historic and highly prolific Coeur D'Alene Mining District, where, since 1884, 1.2 billion troy ounces of silver, 8.3 million tons of lead, 3.3 million tons of zinc, 207 thousand tons of copper and 529,000 troy ounces of gold (worth US$37 billion at today's prices) have been produced from steeply dipping narrow veins, some of which extend from surface outcroppings to a mile or more deep

 

History of Monitor Mine

 

Archean reports that Historic production records from past underground exploration and development work at the Monitor Mine reported that 1,562 tons were shipped to the Tacoma smelter in the early 1900's with average reported smelter returns of 14.92% copper, (298.3lb/ton), 23.6 g/t silver (0.76 opt Ag) and a reported average of 8.64 g/t Au (0.278 opt/Au) with a reported high gold value of 68.43 g/t Au (2.2 opt/Au). Mineralization at Monitor is reported to occur primarily as deep, continuous, high-grade vein systems, with shoots of Bornite and high-grade Chalcopyrite with values of from 7.46% up to 30% Cu and variable widths between 3 m (10 ft.) and 6 m (20 ft.) along with gold values to up to 68.43 g/t Au and anomalous silver values.

 

Archean states that historic development work on the Monitor Mine reportedly included a 700 ft. shaft and approximately 300 m (1,000 ft.) of development crosscuts and drifting over five levels.

 

Adjacent to the Monitor Mine and approximately 300 m (1,000 ft.) NW of the Monitor shaft and at 80 m (240 ft) lower elevation, lies the Richmond Mine adit.  The Richmond vein, that strikes N68E, is projected to intersect the Monitor vein approximately 480 m (1,600 ft.) WNW from the Monitor shaft. Historic assays from the Richmond vein, that reportedly has a similar widths (10 ft.) and grades as the Monitor vein, are reported as approximately 12% Cu, 34.1 g/t Ag (1.1 opt Ag) and between 3.7 g/t - 10 g/t Au (0..12 opt to 0.3 opt Au).

 

During the great Idaho fire of 1910 all above ground infrastructure was destroyed and both the Monitor and Richmond mines ceased production, never to reopen. Work recommenced on the Monitor in the late 1920s when an approximate 1.5 km drive was constructed that reportedly intersected the a 3 meter (10 foot) wide Monitor vein approximately 300 meters (1,000 ft.) below, and 600 meters (2,000 ft.) west of the Monitor shaft. Work reportedly ceased during the Great Depression after which the mine workings were never re-opened. Historic mine production was reportedly limited to developmental ore from the drifts and some stoping above the 200 level.

 

District wide trends within adjacent properties in the Coeur D'Alene Mining District, such as the Galena Mine and the Lucky Friday Mine, indicate mineralized veins with widths between 3 meters to 10 meters extend to as deep as 6,100 ft.

Archean has advised that all grades reported are historic in nature, are not NI 43-101 compliant and a qualified person has not done sufficient work to classify historical estimates as a current mineral resource.  Archean is not treating any historical estimates as a current mineral resource and any historical estimates should not be relied upon.

Archean announces that in order for it to earn an 80% interest as per the terms of the Agreement, and subject to the approval of the TSX Venture Exchange ("TSX-V"), Archean must incur property expenditures of US$2.1 million over three (3) years and issue three (3) million common shares of Archean; one (1) million common shares upon signing, one (1) million common shares on the first anniversary of the Agreement and one (1) million common shares on the second anniversary of the Agreement.

 

Archean reports it has engaged Dr. G. E. Ray, Ph.D. P.Geol to undertake a NI 43-101-Compliant Report on the Monitor Property.  Dr. Clay Conway, Ph.D. P. Geol., a qualified person and a director of Archean will be heading up the concurrent exploration program on the Monitor Property.

***********************************************************************

 

Kent Exploration Inc. is a junior exploration company with a 100% interest in all its major projects, and is planning on building shareholder value through establishing cash flow from its Flagstaff Mountain, WA, barite mine, and then from its now wholly owned bentonite property in Nevada. Any positive cash flow is intended to reduce dilution and fund exploration on its three major gold prospects (Alexander River, Paparoa and Lyell), in the highly prolific West Coast South Island gold fields of New Zealand. Additional shareholder value has been established through its approximately 18% interest in Archean Star Resources Inc, ("Archean") which is listed on the TSX Venture Exchange under the symbol ASP. 

The Company has an experienced management and technical team with extensive exploration expertise and offers investors the potential for a major gold discovery on its New Zealand gold projects.

This News Release has been prepared on behalf of the Kent Exploration Inc. Board of Directors, which accepts full responsibility for its contents.  The contents of this news release has been reviewed and approved by Dr. Clay Conway, P. Geol., a Qualified Person as recognized by National Instrument NI-43-101 and a director of the Company.

ON BEHALF OF THE BOARD

"Graeme O'Neill"

Graeme O'Neill, President

 

Neither the TSX Venture Exchange, nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), has reviewed, nor do they accept responsibility for, the adequacy or accuracy of this news release.

Save 25%
If you are using a special coupon or promo code, include it here. Or, indicate if the coupon must be printed and presented in person. Is the coupon transferable? If so, encourage recipients to share the offer with friends and family to maximize the viral effect of the coupon..
 
Offer Expires: Enter Expiration Date here
This email was sent to .com by alan@archeanstar.com |  
Update Profile/Email Address | Instant removal with � | Privacy Policy.
Kent Exploration Inc | 410-744 West Hastings St. | Vancouver | British Columbia | V6C 1A5 | Canada
Data and Statistics for these countries : Canada | New Zealand | All
Gold and Silver Prices for these countries : Canada | New Zealand | All

Kent Exploration Inc.

EXPLORATION STAGE
CODE : KEX.V
ISIN : CA07278W1095
CUSIP : 490558103
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

Kent Expl. is a gold exploration company based in Canada.

Kent Expl. holds various exploration projects in Canada.

Its main exploration properties are ROSEBUD in USA, SILVER HILL, FLAGSTAFF, IVANHOE CREEK and CASAT LAKE in Canada, GNAWEEDA in Australia and LYELL in New Zealand.

Kent Expl. is listed in Canada. Its market capitalisation is CA$ 1.0 millions as of today (US$ 955 625, € 695 408).

Its stock quote reached its lowest recent point on December 24, 2008 at CA$ 0.03, and its highest recent level on January 15, 2010 at CA$ 2.50.

Kent Expl. has 10 121 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Financings of Kent Exploration Inc.
7/5/2011Closes 1st Tranche of Private Placement for $316,250
4/7/2011Closes 1st Tranche of Private Placement for $421,000
1/16/2008 ANNOUNCES $500,000 PRIVATE PLACEMENT
5/11/2007Private Placement
Project news of Kent Exploration Inc.
12/10/2013EXECUTES OPTION AGREEMENT ON BAYHORSE SILVER MINE
12/10/2013EXECUTES PROPERTY DISPOSAL AGREEMENTCc:
11/7/2013ENTERS INTO LETTER AGREEMENT ON BAYHORSE SILVER MINE
5/28/2013(Flagstaff)notes graphitic occurrences at flagstaff WA project
11/13/2012(Lyell)Applies for NZ Lyell Gold Project Exploration Permit
10/30/2012Reports On Archean Star Acquisition
9/27/2012from Kent Exploration Inc.
9/14/2011Archean Star Resources News Release
7/16/2011Jay Taylor puts a buy recommendation on Kent Exploration
6/14/2011(Lyell)s Lyell Gold Project in New Zealand
6/2/2011(Flagstaff)s Flagstaff Mountain Barite Project
2/9/2009(Reefton Project)Options CanAlaska Reefton Gold Property
7/17/2008(Flagstaff)Mining Permit Application On Flagstaff, Wa, Property
2/6/2008(Flagstaff)Flagstaff, WA Property - Drill Results
1/23/2008(Flagstaff)FLAGSTAFF PROPERTY, WA - PRELIMINARY QEMSCAN ANALYSIS RECEIV...
1/14/2008(Ivanhoe Creek)STAKES ADDITIONAL IVANHOE CREEK PROPERTY
Corporate news of Kent Exploration Inc.
11/22/2013ANNOUNCES NON-BROKERED PRIVATE PLACEMENT, AND COMPLETION OF ...
11/12/2013ANNOUNCES PLAN OF ARRANGEMENT IN CONJUNCTION WITH AGM.
5/13/2013Files Alexander Gold Mine NI-43-101 Report
2/19/2013Clarifies Alexander River Disclosure
1/18/2013News Release
1/7/2013News Release
10/11/2012Announces Record Date for Consolidation
4/18/2012News Release
4/12/2012News Release
3/16/2012Announcement
1/16/2012Video and Cambridge House Invite
1/12/2012Shareholder Update
8/5/2011News Release
4/18/2011News Release
4/13/2011Increases Private Placement to 7.71 Million Units and Closes...
3/24/2011Reports Archean Star Resources (TSX VENTURE:ASP) To Commence...
3/10/2011Commences Alexander River Diamond Drill Program
3/1/2011Archean Star Resources Inc Received Conditional Listing Acce...
11/6/2008Receives First 24 Coal Prospecting Permits
7/29/2008Applies For Additional 37,120 HA Of Coal Disposition Permits
7/15/2008Applies For Additional 43,776 HA Of Coal Disposition Permits
5/14/2008Saskatchewan Coal Permit Applications Made
10/29/2007 Flagstaff Drill Program Commences
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TSX-V (KEX.V)
0.100+0.00%
TSX-V
CA$ 0.100
12/13 15:31 -
0%
Prev close Open
0.100 0.100
Low High
0.100 0.100
Year l/h YTD var.
 -  -
52 week l/h 52 week var.
- -  0.100 -%
Volume 1 month var.
11,500 -%
24hGold TrendPower© : 27
Produces
Develops
Explores for Gold - Lead - Silver
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
Last updated on : 11/24/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 7.75+0.52%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.20+0.00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 10.92-1.71%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.55+0.00%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.06-8.33%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 2.38-3.64%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 15.32+0.46%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.24-2.08%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.19+0.00%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 1.77-1.12%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 52.10-0.89%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.04+0.00%Trend Power :