KAMINAK DRILLS THIRD GOLD DISCOVERY ON THE COFFEE PROPERTY: DOUBLE DOUBLE ZONE YIELDS 6.3 G/T AU OVER 35M


Kaminak Gold Corp. has made a third significant drill discovery on the company’s 100-per-cent-owned Coffee project, located in the White Gold district, Yukon. Drill hole CFD-27 from the Double Double zone returned a high-grade intercept of 6.3 grams per tonne (g/t) gold over 35 metres core length. The Double Double zone is located one kilometre east of the Latte zone and one kilometre south of the Supremo zone, and was discovered through drilling underneath a high-quality gold-in-soil anomaly.

Drill highlights:

A new gold discovery was drilled at the Double Double zone one kilometre to the south of the Supremo zone gold discovery and one kilometre east of the Latte zone gold discovery.

CFD-27 intersected an upper zone of 2.04 g/t gold over nine metres (from 34 metres core depth) and a lower zone of 6.3 g/t gold over 35 metres (from 139 metres core depth).

The Double Double zone is associated with a regionally significant, east-northeast-trending and steeply north-dipping structural splay of the Latte shear zone. It remains open along strike and at depth.
Gold-bearing rocks at Double Double closely resemble rocks from the nearby Supremo and Latte zones (extensive silicification, clay alteration, oxidized pyrite and brecciation accompanied by arsenic-silver-antimony-barium (As-Ag-Sb-Ba) enrichment).

Four drill holes have been completed at the Double Double zone over a 200-metre length. Samples for hole CFD-28 are currently being processed at the assay laboratory.

“Double Double was discovered by drilling high-quality gold-in-soil anomalies coincident with favourable structure,” stated Dr. Rob Carpenter, Kaminak’s president and chief executive officer. “This proven exploration strategy has resulted in three gold discoveries on the property so far in 2010. We will continue to drill test other soil anomalies across the property.”

Drill results

The Double Double zone is associated with a regionally significant, east-northeast-trending and steeply north-dipping structure co-incident with a 300-metre-long-by-100-metre-wide gold-in-soil anomaly. The structure comprises shear zone and breccia fabrics overprinting variably textured schist, giving the overall appearance of a high-strain fault zone. Gold occurs in this fault zone, and alteration typically consists of silicification, clay alteration, local sericite and oxidized sulphides.

Drill holes CFD-27 and CFD-28 were drilled to the north at minus-50-degree and minus-70-degree angles, respectively, and are located 200 metres east of previously drilled holes CFD-13 and CFD-14. Drill hole CFD-13 intersected 1.43 g/t gold over five metres within highly sheared and altered rocks. This result prompted Kaminak’s technical team to re-evaluate the overall setting of gold at the Double Double prospect, resulting in the subsequent drilling of CFD-27. Two significant gold zones were encountered in CFD-27, comprising an upper zone of 2.04 g/t gold over nine metres (from 34 metres core depth) and a lower high-grade intercept of 6.3 g/t gold over 35 metres (from 139 metres), including 18 metres grading 10.42 g/t gold (from 156 metres). Assays from CFD-28 are pending.

Data from oriented core measurements combined with detailed geological core logging from CFD-27 and CFD-28 suggest the high-grade lower intercept from CFD-27 is hosted in a north-dipping orientation and, as a result, the undercut hole CFD-28 may not have intersected the mineralization. Follow-up drilling directed north to south will be required to properly determine the correct orientations, however, Kaminak considers these new results highly encouraging.

A detailed plan map, cross-section, assay sheet and photograph montage of select core samples are available on the Kaminak website.

DRILL RESULTS

Drill hole No. From (m) To (m) Length (m) Weighted grade (g/t)

CFD-27 34 43 9 2.04
and 139 174 35 6.30
including 156 174 18 10.42

(i) The true width is estimated at 70 to 100 per cent of the core length.

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