Archive for December, 2010

KAMINAK DEFINES ADDITIONAL GOLD-IN-SOIL TRENDS ON THE COFFEE PROPERTY

Significant new gold-in-soil trends have been identified by soil sampling conducted during the 2010 field season, all occurring on Kaminak Gold Corp.’s 100-per-cent-owned Coffee property, located in the White gold district, Yukon territory. All zones remain open along trend and are untested by drilling.

Key point summary:

 

  • The Americano gold-in-soil trend extended an additional 2.5 kilometres along strike, including a new gold trend named Americano West, which represents a new drill target and remains open along trend to the west and south.
  • A significant new gold-in-soil geochemical trend identified 20 km southeast of the Supremo zone, named the Sugar trend, comprising a consistent eight km by four km zone of elevated gold in soil.
  • A new gold-in-soil geochemical anomaly located on the Apollo property, 25 km northwest of Coffee.

 

“Systematic soil sampling of the Coffee property continues to uncover numerous high-priority drill targets over a distance of at least 30 km,” stated Dr. Rob Carpenter, Kaminak’s president and chief executive officer. “Drill testing of soil targets in 2010 resulted in several high-grade gold discoveries and as a result will remain an effective exploration tool.”

Americano soil sampling

During the 2010 summer field season Kaminak collected almost 10,000 soil samples across the Coffee property, including an extension of the existing grid pattern sampling. The company previously announced a major extension of the previously identified gold trends at Coffee, Kaminak identifies three new kilometre-scale gold soil trends on the Coffee property: priority targets to be drilled in current field season), including discovery of the major new Americano trend.

A further extension of the Coffee soil grid in the latter part of the field season has resulted in an additional one km extension to the Americano North gold soil trend and the identification of the new Americano West gold-in-soil trend located one km west of Americano, and covering an area of approximately 1.5 km by one km with values up to 484 parts per billion (ppb) Au. Kaminak considers these results to be highly significant as drilling of soil targets to date has resulted in several bedrock gold discoveries. The company therefore plans to drill test the Americano West area in 2011 and also undertake further grid soil sampling extensions to the Americano West gold trend which remains open along trend to the west and south.

Sugar soil sampling

In addition to the grid sampling over Americano, the company undertook a major program of first-pass ridge and spur soil sampling over its 100-per-cent-owned Coffee property, which resulted in numerous zones of elevated gold in soil being identified. In particular, a significant new gold trend was identified, named the Sugar trend, comprising a consistent eight km by four km zone of elevated gold in soil peaking at 248 ppb Au, located in the headwaters of Excelsior Creek approximately 20 km east-southeast of the Supremo zone at Coffee. The gold-in-soil anomaly is underlain by a zone of intermediate to mafic dikes which intrude granite.

The company considers the Sugar trend to be extremely significant as the scale and tenor of gold-in-soil geochemistry is similar to early sampling over the Coffee gold deposit area. The company plans to undertake grid pattern soil geochemical sampling over the Sugar trend in 2011 in addition to further step-out ridge and spur sampling over the remainder of the Coffee property, 30 per cent of which is unexplored by first-pass prospecting.

In addition to soil sampling on the Coffee property, Kaminak also undertook first-pass ridge and spur soil sampling on selected regional targets on its 100-per-cent-owned landholdings throughout the Dawson Range district. Encouraging results were returned from the Apollo project located 25 km northwest of Coffee, with elevated gold-in-soil values up to 73 ppb Au. The company plans to conduct further systematic work at Apollo in 2011.

A detailed plan map showing the location of the new gold in soil trends is available on the Kaminak website.

, , , ,

No Comments