KAMINAK DRILLING AT AMERICANO YIELDS NEW GOLD DISCOVERY OF 2.36 G/T AU OVER 18M AND STEP-OUT HOLE SUCCESSFULLY INTERSECTS LATTE GOLD ZONE 900M ALONG TREND FROM KNOWN MINERALIZATION


Kaminak Gold Corp. is providing drill results from widely spaced exploration holes from the Americano and Espresso gold-in-soil trends, as well as assays from Latte zone step-out drilling, all of which occur on the company’s 100-per-cent-owned Coffee property, located in the White Gold district, Yukon Territory. All zones begin at surface and remain open along trend and at depth.

Key points summary:

 

  • Nine of the 10 holes drilled at Americano successfully intersected gold mineralization. Key intercepts include 2.36 grams per tonne Au over 18 metres from CFD-64 and 6.53 g/t Au over three m from CFD-55.
  • The discoveries at Americano and at the previously announced Kona zone are both hosted in granites, the primary host rock in the western and southern portion of the Coffee property. The gold-bearing potential of these rocks has been validated and will be a key focus of next year’s program.
  • Latte extension (B52 zone) drill hole CFD-61 successfully intersected rocks correlated with the Latte shear zone and extends the Latte zone 900 m to the west. Highlights include 3.04 g/t Au over six m including a high-grade interval of 10.25 g/t Au over one m.

 

“Our 2010 drill program was the first-ever drilling on the Coffee property, and we successfully intersected significant near-surface gold over a distance exceeding 10 kilometres, resulting in a half-dozen bona fide gold discoveries,” stated Rob Carpenter, Kaminak’s president and chief executive officer. “Our exploration philosophy of drilling below high-quality gold-in-soil anomalies is delivering results, and with only 10 per cent of the property systematically soil sampled, we expect to continue to generate additional gold targets.”

Americano and Espresso zones

The Americano area is underlain by granite and comprises two parallel northeast-trending linear gold-in-soil trends totalling over four kilometres in length. These two trends become linked to the east by a north-by-northeast-trending gold-in-soil anomaly informally known as the Americano link structure. This link structure is at least 700 m long. A total of 10 widely spaced holes were drilled at Americano in order to test for the presence of steeply dipping gold-bearing brittle structures analogous to the nearby Kona gold zone where CFD-53 returned 2.2 g/t Au over 57 m.

Nine of the 10 holes drilled at Americano successfully intersected gold mineralization hosted in sulphidic and clay-altered brittle fault zones crosscutting granite. Notable intercepts occur in the north-by-northeast-trending link structure where four holes were drilled over 300 m. All four holes intersected significant gold mineralization including 2.36 g/t Au over 18 m from CFD-64 and 6.5 g/t Au over three m from CFD-55. Gold zones at the link structure remain open at depth and along trend. The interpreted length of the entire gold-in-soil trend at the Americano link area exceeds 700 m.

Three holes were drilled into the Espresso gold-in-soil trend located approximately one kilometre south of the Americano link structure and 1.5 kilometres southeast of the Kona gold zone discovered earlier in 2010. Two of the three holes successfully intersected gold-bearing granitic host rocks characterized by clay and sulphide alteration including CFD-70 that yielded 1.36 g/t Au over eight metres.

Latte extension (B52 zone)

Initial drilling at the Latte zone by Kaminak in 2010 successfully intersected gold mineralization in all 17 holes over a strike length of at least 600 m. Ground magnetic data acquired over the Coffee property suggest the main structural feature that hosts gold mineralization at the Latte zone extends well beyond the limit of drilling in 2010. To test this theory, Kaminak drilled a wildcat step-out exploration hole 900 m west of the Latte zone in order to intercept the projected extension of the Latte gold mineralization in a region informally labelled the B52 zone.

Drill hole CFD-61 was drilled to the north at a minus-50-degree angle and successfully intersected rocks correlated with the Latte shear zone located 900 m to the east. Three discrete gold zones were intersected over a core length of approximately 32 m (starting at 85 m depth). Highlights include 3.04 g/t Au over six m including a high-grade interval of 10.25 g/t Au over one m. Mineralization is interpreted to occur within an east-west-trending and steep south-dipping shear zone structure believed to be the extension of the Latte gold structure. This result confirms that the gold-bearing structure at Latte continues well beyond the limits of Kaminak’s 2010 drilling and future exploration work in this area will focus on expanding these zones.

 

                                DRILL RESULTS

                                                             Weighted grade
Hole ID            Zone   From (m)   To (m)  Length (m)(i)            (g/t)

CFD-55        Americano          9       11              2             2.76
                                65       78             13             1.87
incl.                           75       78              3             6.53
CFD-56        Americano         21       26              5             1.55
CFD-58        Americano         35       37              2             1.65
                               120      122              2             6.50
CFD-59        Americano         29       49             20             1.02
                                70       77              7             1.48
CFD-61        B52               85       88              3             1.09
                               101      103              2             1.09
                               111      117              6             3.04
incl.                          113      114              1            10.25
CFD-62        Americano         38       42              4             2.42
CFD-63        Americano         49       85             36             0.92
incl.                           61       73             12             1.43
CFD-64        Americano        150      168             18             2.36
incl.                          155      156              1             11.1
CFD-66        Americano                               No significant values
CFD-68        Americano       3.87        6           2.13             1.28
CFD-70        Espresso         179      187              8             1.36
CFD-72        Espresso                                No significant values
CFD-74        Espresso           6        8              2             2.29
CFD-76        Americano         68       71              3             2.24
                                78       80              2             1.73
                               124      129              5             2.18

(i) True widths are estimated at 50 per cent to 70 per cent of core length.

 

Detailed plan maps, cross-sections and assay sheets of Americano, Espresso and Latte extension holes are available on the Kaminak website.

Quality assurance/quality control

Kaminak’s disclosure of a technical or scientific nature in this news release has been reviewed and approved by Dr. Carpenter, PhD, PGeo, 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.

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