Posts Tagged Kinross Gold

STINA ANNOUNCES RESULTS FROM FIRST 2011 DRILL HOLE – DDH-11-06

Stina Resources Ltd. has released results from DDH-11-06, on its 100-per-cent-owned Dime property located 67 kilometres southwest of Dawson City in the South Klondike/White Gold district. This hole was drilled from the same drill pad as DDH-10-03 and DDH-10-04 in 2010 on the West anomaly, but at a steeper angle. The drill hole confirmed the presence of a steeply south-dipping east-west-trending structure with strong silicification, brecciation and pyrite-arsenopyrite sulphide mineralization. DDH-11-06 was drilled at an azimuth of 20 degrees and an angle of minus 80 degrees dip. The hole was drilled to a 245-metre (804 feet) depth.

Assay results are encouraging and confirm that the structure, silicification and brecciation are hosts to gold-bearing pyrite-arsenopyrite mineralization.

From            To     Interval      Au
(m)            (m)          (m)   (g/t)

7.5           66.0         58.5    0.31
includes
23.65        25.10         1.45    8.32
69.25        73.75         4.50    0.36
79.50        106.3         26.8    0.37
157.75      166.88         9.13    0.20
173.9       185.93        12.03    0.90
or
173.9        213.0        39.10    0.40
includes
173.90      175.50          1.6    5.37

A rigorous quality assurance/control protocol has been put in place. Core samples were processed by Acme Analytical Laboratories at facilities in Dawson and Whitehorse, Yukon. A one-kilogram split is crushed to 80 per cent passing 10 mesh. A second 250-gram split is pulverized to 85 per cent passing 200 mesh. A 30-gram-silver in-quart fire-assay fusion by ICP-ES methods and a 31-element ICP analysis are completed in Vancouver. Each batch of 36 sample included standards, blanks and duplicates.

R. Allan Doherty, PGeo, is a qualified person as defined in National Instrument 43-101 and has reviewed and approved this news release.

Results for additional 2011 holes will be released shortly after the data are compiled in the near future.

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Pacific Ridge Drills New Yukon Gold Discovery: First Hole Intersects 2.44 Grams Per Tonne Gold Over 38.9 Metres at Mariposa in White Gold District

Vancouver, B.C. – July 28, 2011 – Pacific Ridge Exploration Ltd. (TSX Venture: PEX) (the “Company”) reports that its first diamond drill hole has intersected 2.44 grams/tonne (g/t) gold over a 38.9 metre interval that includes 6.44 g/t gold over an 11.1 metre interval at its Mariposa Property in the Yukon’s White Gold District.
The initial objective of the Phase 1 drilling program is to test five gold-in-soil anomalies coincident with geophysical signatures indicating geological structures prospective for hosting gold mineralization. These exploration targets are contained within an approximate 21 square kilometre area within the overall 262 square kilometre Mariposa Property.

Currently, approximately 3300 metres have been drilled in 21 holes which have tested the Skookum Jim (12 holes), Maisy May (4 holes), Gertie (3 holes) and Hackly (2 holes) targets. Holes have been drilled to lengths ranging between 76 and 238 metres. Based on early exploration results, the Company has increased its initial 4,000 metre drilling program to 6,000 metres. This expanded program will continue to focus on untested gold anomalies within the Skookum Jim target.

Within the open-ended 3.5 kilometre-long Skookum Jim target, a total of 12 drill holes have been completed to date. The initial 9 drill holes of the program have tested a 500 metre long corridor of an area now referred to as ‘Skookum Main’. In 2010, gold-in-soil and trench results first detected gold anomalism along this part of the larger Skookum Jim trend. Approximately 1.5 kilometres to the west along this trend, another 3 widely spaced holes have been drilled in an area now referred to as ‘Skookum West’.

The following assay results have been received from partial intervals within 3 of 9 drill holes completed in the Skookum Main area. The lengths indicated are drilled intervals and do not necessarily represent true widths of mineralized sections. Additional drilling is warranted to assess the geometry of the intercepted structures.

Drill
hole
Azimuth Dip From
(m)
To
(m)
Interval
(m)
Weighted grade
(g/t gold)
11MP-01 180 -50 29.1 68.0 38.9 2.44
Contains     29.1 40.2 11.1 6.44
Including     32.9 35.0 2.1 26.58

Hole 11MP-01 was drilled under an interval in trench SJ-2 which returned 1.25 g/t gold over 30 metres. Additional results are pending for core samples from downhole lengths of 68 metres to end-of-hole at 237 metres.

Drill
hole
Azimuth Dip From
(m)
To
(m)
Interval
(m)
Weighted grade
(g/t gold)
11MP-05 180 -50 3.1 22.9 19.8 1.13
Including     19.9 22.9 3.0 2.79
and     22.9 70.5 no significant assays

Hole 11MP-05 was located 80 metres south of Hole 11MP-01 and was drilled under another interval in trench SJ-2 which returned 1.17 g/t gold over 10 metres. Additional results are pending for core samples from downhole lengths 70.5 metres to end-of-hole at 192 metres.

Drill hole Azimuth Dip From
(m)
To
(m)
Interval
(m)
Weighted grade
(g/t gold)
11MP-06 180 -65 3.7 49.0 45.3 0.63
Includes     5.6 13.9 8.3 1.01
and     22.3 25.8 3.5 1.55

Drill hole 11MP-06 was drilled from the same location as 11MP-05 to undercut Hole 5. Additional results are pending from core samples from downhole depths of 61.6 metres to end-of-hole at 148 metres.

The geological setting for anomalous gold intercepts in the above reported drill holes (11MP-01, 05, and 06) appears to be within a 75 metre wide (drilled section), steeply dipping corridor of strongly limonitic fractures and breccias with local quartz veining. This brittle deformation cuts a diffuse contact zone between granodiorite and quartz-biotite gneiss, which have both been variably altered and cut by local pegmatite and quartz-feldspar +/- pyrite veinlets. The extent of this geologically favorable corridor is yet to be defined by both surface work and diamond drilling.

In summary, the Company is encouraged by drilling results received to date, that being based on partial analytical results from only 3 of 21 holes drilled. These results confirm the gold potential of the Mariposa Property. On-going results will be reported as received as the Mariposa drilling program continues.

Sampling methods and analytical procedures

Drill core is cut or split in half, with one half of each sample forwarded for analysis, and the remaining half archived on site. As part of the quality assurance-quality control (“QAQC”) program, a series of certified reference standard material, blank material and core duplicate samples are inserted into each batch. Samples are sent directly by air charter to the preparation facility of Inspectorate Exploration & Mining Services in Whitehorse, YT (“Inspectorate”), where they are crushed and pulverized to 85% passing 200 mesh. Coarse reject material from each sample remain stored with Inspectorate in Whitehorse, while the pulps were couriered to Inspectorate’s laboratory in Richmond, BC, Canada, which is ISO 9001:2008 certified.

Determinations for gold were completed on a 30g subsample subjected to fire assay, followed by an atomic absorption (“AA”) finish. Results are reported as ppb (parts per billion). Sample results exceeding 10,000 ppb gold are subjected to fire assay followed by a gravimetric finish. Results are reported as grams per tonne gold. An additional 30 elements were determined by sample digestion in an aqua regia solution and analysis by ICP-MS and ICP-ES. Mercury determinations were completed by cold vapour fusion.

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NORTHERN TIGER RESOURCES YUKON EXPLORATION UPDATE

Northern Tiger Resources Inc. has provided an update on its planned $7.2-million Yukon exploration programs. The 2011 exploration programs are designed to follow up high-grade gold drill discoveries made in 2010 at both the 3Ace and Sonora Gulch projects.

Drilling at Sonora Gulch commenced last week. The primary focus of this 2,500 metre diamond drill program will be on the Gold Vein Zone – a 1.4 kilometre long geochemical anomaly averaging 161 ppb gold-in-soils. A single drill hole testing the anomaly in 2010 returned a discovery intercept of 7.6 g/t gold and 155.5 g/t silver over 6.0 metres.

Construction of the new camp at 3Ace is now advanced and the drill crew is mobilizing to the property this week. The 10,000 metre drill program will focus on the Main Zone, where two diamond drill holes have already intersected significant gold mineralization (including 4.3 g/t gold over 30.3 metres and 14.8 g/t gold over 10.9 metres – see news release dated November 4, 2010), and on Green Zone West (a 1,000 metre by 500 metre anomaly averaging 115 ppb gold-in-soils). Up to five additional targets on 3Ace and the adjoining Sprogge Property will also see preliminary drill testing this year.

“Our Yukon exploration program is well underway, although the late spring melt has caused some delays,” says Greg Hayes, President of Northern Tiger. “We were able to compensate by getting the drill turning early at Sonora Gulch and completing some additional regional exploration work earlier in the season. With the drill crew mobilizing to 3Ace, we will soon have drills turning on two Yukon properties with significant gold discovery potential.”

This News Release has been reviewed and approved by Dennis Ouellette, B.Sc., P.Geol., a Qualified Person as defined by National Instrument 43-101.

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ASHBURTON TO START WORK IN THE YUKON

Ashburton Ventures Inc. has disclosed that the 2011 work program has been established and mobilization to the site will begin prior to July 1, 2011. The White Gold property is situated north of and immediately contiguous with the Golden Saddle claim groups where Underworld Resources had their new gold discoveries in 2009. This property area was then acquired by Kinross Gold Corp. in early 2010.

The area of the White Gold property was soil sampled in 2009 and the results from this sampling campaign have highlighted a significant gold, copper, zinc and arsenic northwest-southeast trend that extends across the Ashburton claims to the boundary of the Kinross White Gold claims. The 2011 White Gold property exploration includes trenching with detailed mapping and sampling followed by a selective drill program.

UTM Exploration Services Ltd. of Smithers, B.C., has been contracted to provide exploration support and geological services for White Gold.

The technical contents of this release were approved by Dr. Tom McCandless, PGeo, vice-president, exploration, for Ashburton and a qualified person as defined by National Instrument 43-101.

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NORTHERN TIGER RESOURCES INCREASES 3ACE LAND POSITION

Northern Tiger Resources Inc. has significantly expanded its land position at the 3Ace property in southeast Yukon. The company recently announced a new gold drill hole discovery on the project, including an intercept grading 14.8 grams per tonne gold over 10.9 metres. Since acquiring the initial 143 claims in April, Northern Tiger has staked an additional 823 claims and acquired 20 claims from a prospector to bring the total claim block up to 986 claims (206 square kilometres).

Seven regional targets totalling 256 claims (54 square km) have also been staked. These regional targets cover gold/arsenic silt geochemical anomalies in favourable quartz pebble conglomerate host rocks similar to those found on the 3Ace property.

“The success of our initial exploration season at 3Ace warranted a significant increase to our land position,” says Greg Hayes, president of Northern Tiger. “Northern Tiger now holds a substantial land package in an underexplored part of the Yukon that we have demonstrated is very prospective for the discovery of additional high-grade gold vein systems.”

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Kaminak Continues to Intersect Wide Intervals of Gold Mineralization at Latte

Upper Latte:
CFD-35: 1.4 g/t Au over 81m, including 2.0 g/t Au over 21m
CFD-44: 1.8 g/t Au over 58m, including 2.3 g/t Au over 37m
CFD-45: 1.1 g/t Au over 93m, including 1.3 g/t Au over 49m

Lower Latte:
CFD-40: 8.1 g/t Au over 2m and 10.5 g/t Au over 1m
CFD-48: 5.5 g/t Au over 9m, including 15.4 g/t Au over 2m
CFD-50: 8.2 g/t Au over 5m, including 18.5 g/t Au over 1m

Kaminak Gold Corporation (KAM: TSXV) is pleased to report assays from step-out drilling on the Latte trend, located on the Company’s 100% owned Coffee property (White Gold District, Yukon Territory). The Latte trend is one of three significant gold discoveries made to date by Kaminak in 2010 on the Coffee property. The other two discoveries are the Supremo and Double Double trends, which are located approximately 1.5km north and east of the Latte trend, respectively. To date, 17 drill holes have been completed at the Latte Zone over 600m strike length and all holes have intersected gold mineralization.

Key Point Summary

Mineralized areas are assigned to an Upper Latte bulk-tonnage gold zone and a Lower Latte high-grade gold zone.
The Latte gold zones begin at surface, dip steeply to the south and are open in all directions for at least 600m along trend.
Latte is located along a regionally-significant >8 km structure, of which several hundred meters have been tested.
The 2010 drill season is now complete and a total of 76 holes were drilled. Additional assays from Kona, Americano, Espresso and the Supremo-Latte Areas are pending.
“Drilling has confirmed a high-grade zone is present at Latte,” stated Rob Carpenter, Kaminak’s President & CEO. “Both the upper and lower zones begin at surface and can be traced for at least 600m along trend while remaining open at depth. Furthermore, the most westerly holes of the upper zone appear to have the widest mineralized intervals to date suggesting the system may be larger than currently known.”

The Latte Zone is associated with a regionally-significant, east-west trending structural corridor co-incident with a 1km long by 100m wide gold-in-soil anomaly. Gold mineralization is preferentially concentrated in the structural corridor, associated with silicification and (oxidized) sulphides hosted in brittle fractures and breccia zones that overprint older strain fabrics. Two gold environments are described as follows:

Upper Latte: Wide gold intervals are hosted in high-strain feldspar-muscovite-quartz rocks associated with silicification, brecciation and extensive limonite microfracture networks (after pyrite).
Lower Latte: Narrow, high-grade gold intervals are hosted in structurally-lower intervals of biotite-feldspar schist associated with brecciation, clay alteration and abundant fine-grained sulphide (dominated by pyrite).

The high-grade zones (Lower Latte) are interpreted as possible feeder structures below bulk-tonnage-style mineralized zones (Upper Latte). Contrasting mineralization styles may be related to host rock composition and/or rock competency differences.

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. 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.

On behalf of the Board of Directors of Kaminak

“Rob Carpenter”

Rob Carpenter, Ph.D., P.Geo.
President and CEO
Kaminak Gold Corporation

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HABANERO RESOURCES INC.: OPERATIONS TO COMMENCE ON WHITE GOLD PROSPECT IN YUKON

Habanero Resources Inc. expects to commence operations in August on its 100-per-cent-owned White Gold prospect in the Yukon. This prospect is directly bordering, and the closest property, to the actual Underworld Resources’s discovery zone (Golden Saddle). Underworld Resources announced grades of 3.94 grams per tonne gold over 59.9 metres and 3.59 g/t gold over 98.3 metres, as well as agreeing to a friendly takeover by Kinross Gold Corp., which was recently consummated.

Jason Gigliotti, president of Habanero, stated: “We are believers that the Yukon holds some of the largest potential out of Habanero’s projects and we plan to investigate multiple avenues to determine what these assets hold. The White Gold region of the Yukon is one of the most active regions this summer, and we plan to be part of this activity.”

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TITAN 24 SURVEY IDENTIFIES PRIORITY TARGETS AND DRILLING UNDERWAY AT SONORA GULCH

Northern Tiger Resources Inc. confirms that a number of high-priority targets have been identified by a deep-penetrating geophysical survey done by Quantec Geosciences Ltd. (the Titan 24 survey) at Sonora Gulch in the Dawson Range, Yukon. Two holes have been completed in a planned 3,000-metre diamond drilling program that commenced on June 29.
“This is a large and attractive target based on the results of the Titan 24 Survey combined with the Cu-Mo-Au-Ag geochemical signature and similar age of intrusive host rocks to the nearby Casino copper-gold-molybdenum porphyry deposit,” says Greg Hayes, President of Northern Tiger. “An intense IP response mantling around a non-chargeable core in our target area is very encouraging and further supports our porphyry exploration model.”
As disclosed in a previous news release (February 25, 2010), many common indicators of a porphyry system have been identified on the project, including a large potassic alteration zone, a copper-molybdenum soil anomaly, and flanking gold and base metal mineralization.
Based on analysis of the Titan 24 Survey and in consultation with Northern Tiger’s geologists, Quantec has recommended 14 drill holes to test 9 separate but spatially related high priority chargeability anomalies. These anomalies cover a 2 by 1-kilometre area, surrounding and draping over a less chargeable core. Chargeable zones are also associated with more conductive areas within the resistivity data. Many of the chargeability anomalies are related to a zone of intersecting structures that may be important for ground preparation. In addition, an airborne magnetic survey defined an arcuate magnetic anomaly at the contact between Cretaceous intrusions and the surrounding country rock.
The Titan 24 Survey consists of 6 lines (each 2.4 kilometres long) spaced 400 metres apart, covering an area of approximately 4.8 square kilometres. Direct current resistivity and induced polarization data are mapped to depths of approximately 750 metres. A presentation of the Titan 24 results will be posted on Northern Tiger’s website.

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KAMINAK GOLD CORPORATION ANNOUNCES AN INCREASE TO OVER-ALLOTMENT OPTION OF EQUITY FINANCING

Kaminak Gold Corp., in connection with its previously announced bought-deal offering co-led by Canaccord Genuity Corp. and Mackie Research Capital Corp., and including Fraser Mackenzie Ltd., has increased the overallotment option of the offering from 15 per cent of the gross proceeds raised to 45 per cent of the gross proceeds raised through the offering, and now includes up to $1.5-million of flow-through common shares and $3-million of common shares. If the overallotment option is fully exercised, the gross proceeds from the offering will be $14,503,900.

The company intends to use the net proceeds of the offering to conduct exploration activities on its Coffee project located in the White Gold district, Yukon, and for general working capital purposes.

Closing of the offering is anticipated to occur on or before July 29, 2010, and is subject to receipt of applicable regulatory approvals, including approval of the TSX Venture Exchange. Securities issued under the offering and through the overallotment option will be subject to a four-month hold period, which will expire four months from the date of closing.

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KINROSS ANNOUNCES INVESTMENT IN UNDERWORLD RESOURCES INC.

Kinross Gold Corp. has subscribed for 1.2 million units of Underworld Resources Inc. pursuant to a private placement. Each unit consists of one common share and one-half of one share purchase warrant. Each full warrant allows the holder to purchase one common share at an exercise price of $1.60 during the one-year period following the closing of the private placement, subject to acceleration in certain circumstances. After giving effect to the private placement and the exercise of the warrants, Kinross will hold 1.8 million common shares which, together with the 2,718,181 common shares held by Kinross prior to the private placement, constitutes 11.1 per cent of Underworld’s outstanding common shares. The subscription price for the units is $1.25 per unit for a total purchase price of $1.5-million. The private placement is subject to approval by the TSX Venture Exchange.

The investment in Underworld is part of Kinross’s strategy to maximize exposure to new prospects and experienced explorationists at a relatively small capital investment by partnering with promising junior companies on a select basis. Underworld is a junior exploration company focused on expanding its new gold discovery in Canada’s Yukon Territory.

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