VANCOUVER, BRITISH COLUMBIA — (Marketwired) — 11/12/13 — Kaminak Gold Corporation (TSX VENTURE: KAM) today announced the results of an infill delineation drilling program at Supremo primarily targeting the central zone of the Supremo T3 deposit and representing approximately 500m of its more than 2.3km of mineralized strike length, which remains open along strike to the north and at depth. Also being reported in this news release are bedrock trench results from the 500m infill section demonstrating high-grade oxide gold mineralization at surface. As previously disclosed, the Supremo deposit is one of several gold deposits located within the company-s Coffee Gold Project and contributes approximately 1.8 Moz of the previously reported 3.2 Moz NI 43-101 Inferred Mineral Resource Estimate, consisting of 64 million tonnes grading at 1.56 grams per tonne gold („g/t Au“) at a base case cut-off of 0.5g/t Au for Oxide and Transitional material and a 1g/t Au cut-off for Sulphide material.
Drill Highlight Intercepts include:
Trench Results include:
Eira Thomas, CEO commented: „The Supremo T3 deposit has consistently returned some of the highest grade intercepts at Coffee and contributes to the majority of the Oxide ounces in the current 43-101 Resource. This year-s limited infill program has helped to better delineate the central zone of the deposit, which could represent a high value potential starter pit for the project. The mineralization encountered is consistent with previous results from Supremo and will contribute to an updated 43-101 resource estimate towards year-end followed by the initiation of a preliminary economic analysis in early 2014.“
About the Supremo Drilling Program
Supremo infill drilling was completed primarily to improve continuity of mineralization and grade characterization within a central 500m section of the Supremo T3 gold deposit, and in addition, a small section of Supremo T4 where the current resource block model does not extend to surface. The ultimate aim of the T3 infill drill program is to upgrade the resource classification of that section of the deposit from Inferred to the higher confidence level required in the Indicated category. The location and spacing of drilling was determined in consultation with independent Qualified Person Robert Sim, P.Geo. of SIM Geological Inc., who completed the Coffee Gold Project maiden Inferred Mineral Resource Estimate (announced December 13, 2012). The Company plans to update the mineral resource estimate once all of the drill results from all 2013 programs have been received.
Results are also presented for trenching on T3 plus additional exploration and infill drilling campaigns. Outstanding results from previous drilling campaigns on T1 and 2 are also reported.
Details of the T3 drilling and trenching program:
All maps, sections and assay sheets are currently available on the Kaminak website, .
QA / QC
Kaminak-s disclosure of a technical or scientific nature in this press release has been reviewed and approved by Rory Kutluoglu, P.Geo., Exploration Manager of Kaminak Gold Corporation, 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 sample string. Samples are placed in sealed bags and shipped directly to the ALS Minerals preparatory laboratory in Whitehorse prior to gold fire assay.
On behalf of the Board of Directors of Kaminak
Eira Thomas, President and CEO
Kaminak Gold Corporation
For further information about Kaminak Gold Corporation or this news release, please visit our website at .
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution Concerning Forward-Looking Statements
Certain disclosures in this release, including management-s assessment of the future potential of the Coffee Project and future exploration programs, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Kaminak-s operations as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements, including risks as to the completion of the plans and projects. Readers are cautioned not to place undue reliance on forward-looking statements. Except as required by law, Kaminak expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Cautionary Note concerning estimates of Inferred Resources:
This news release uses the term „inferred resources“. Inferred resources have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Resources may not form the basis of feasibility or other economic studies. Kaminak advises U.S. investors that while this term is recognized and required by Canadian regulations, the U.S. Securities and Exchange Commission do not recognize it. U.S. investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally minable.
Contacts: Kaminak Gold Corporation Tony Reda Vice President of Corporate Development 604.646.4534 or Toll Free: 1.888.331.2269
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