Kaminak Gold Corporation
TSX VENTURE : KAM

Kaminak Gold Corporation

September 11, 2012 16:00 ET

Kaminak Drilling Successfully Connects Supremo T3 and T4 Gold Zones

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 11, 2012) - Kaminak Gold Corporation (TSX VENTURE:KAM) today announced assay results from 52 drill holes located within the Supremo gold zones (T3, T4 and T5). The purpose of this shallow drilling was to extend the T4 and T5 zones towards the nearby T3 zone. Complete plan maps, cross sections and assay tables are now available on the Company website www.kaminak.com.

Supremo T4 - T5 Zone Drill Highlights Supremo T3 Zone Drill Highlights
CFD-270: 10.2 g/t Au over 9m (from 219m) CFR-269: 5.09 g/t Au over 6.1m (from 24.4m)
CFD-272: 4.58 g/t Au over 10m (from 280m) CFR-271: 27.42 g/t Au over 3.05m (from 53.3m)
CFR-250: 3.96 g/t Au over 21.3m (from 88m) CFR-276: 21.9 g/t Au over 7.62m (from 24.4m)
CFR-254: 3.09 g/t Au over 51.8m (from 1.5m) CFR-279: 14.85 g/t Au over 3.05m (from 68.6m)
CFR-260: 4.7 g/t Au over 12.19m (from 105m) CFR-282: 3.54 g/t Au over 15.24m (from 103.6m)
CFR-267: 5.42 g/t Au over 9.14m (from 152m) CFR-286: 8.33 g/t Au over 12.19m (from 102.1m)
CFR-268: 5.1 g/t Au over 16.76m (from 128.6m)
CFR-283: 5.27 g/t Au over 19.82m (from 9.75m)

"Drilling at Supremo in 2012 successfully connected the T3 zone to the nearby Latte zone, and new results show the T3 and T4 zones are also connected," stated Rob Carpenter, Kaminak President & CEO. "These observations provide further evidence for a single, widespread and continuous gold mineralizing event that begins at surface."

Key Point Summary

  • New drilling successfully extends the Supremo T4 gold zone an additional 400m (1,500m total strike length) and the T5 zone an additional 475m (1,200m total strike length). Drill results include: 3.09 grams per tonne gold (g/t Au) over 51.8m (from 1.5m core depth); 5.27 g/t Au over 19.82m (from 9.75m); 10.2 g/t Au over 9m (from 219m); 5.1 g/t Au over 16.76m (from 128.6m); 4.7 g/t Au over 12.19m (from 105m)
  • The northern surface trace of the T4 zone appears to merge into or connect with the well defined T3 zone near section 4750N, while to the south the T4 zone connects with the Latte zone. These connections provide further evidence for a single, widespread and continuous gold mineralizing event at Coffee. The T5 zone remains open along strike to the north and south.
  • Results from infill drilling on the Supremo T3 zone are also presented including: 5.09 g/t Au over 6.1m (from 24.4m core depth); 27.42 g/t Au over 3.05m (from 53.3m); 21.9 g/t Au over 7.62m (from 24.4m); 14.85 g/t Au over 3.05m (from 68.6m); 3.54 g/t Au over 15.24m (from 103.6m); 8.33 g/t Au over 12.19m (from 102.1m)
  • The final hole of the 2012 exploration season at Coffee is currently being drilled. A total of 65,000m from 125 diamond holes and 197 reverse circulation holes were completed this season within the approved budget of $19 million.
  • Pending drill results from Double Double (22 diamond drill holes), Supremo T3, T4-5 and T7 zones (14 diamond drill holes, 40 reverse circulation drill holes), and Sugar (2 diamond drill holes) will be released when final assays are completed in the coming weeks.

Drill Results

A total of 32 reverse circulation and 5 diamond drill holes are reported from the Supremo T4 and T5 gold zones. This drilling was completed on 50m spaced fences and succeeded in extending the zones at least 400m along trend and from surface to a vertical depth of approximately 200m. Results include: 3.09 grams per tonne gold (g/t Au) over 51.8m (from 1.5m core depth); 5.27 g/t Au over 19.82m (from 9.75m); 10.2 g/t Au over 9m (from 219m); 5.1 g/t Au over 16.76m (from 128.6m); 4.7 g/t Au over 12.19m (from 105m).

An additional 15 reverse circulation drill holes were completed within the northern portion of the T3 gold zone. These holes are considered "infill" and are located within areas of previous widely-spaced drill holes. Results include: 5.09 g/t Au over 6.1m (from 24.4m); 27.42 g/t Au over 3.05m (from 53.3m); 21.9 g/t Au over 7.62m (from 24.4m); 14.85 g/t Au over 3.05m (from 68.6m); 3.54 g/t Au over 15.24m (from 103.6m); 8.33 g/t Au over 12.19m (from 102.1m).

Supremo consists of at least eight individual gold-in-soil trends (named T1 to T8) located within a 2km by 2km area. Drilling beneath these soil anomalies successfully identified gold-bearing brittle fractures and breccia zones within gneissic host rock and felsic-intermediate intrusive rocks, accompanied by silica flooding and pyrite which is strongly to completely oxidized to limonite/hematite up to depths of 200 metres below surface. Higher‐grade gold is associated with intense silica-sericite alteration and high pyrite/limonite content.

Table of Results

Drill Hole Number From (m) To (m) Width (m)* Weighted grade (g/t Au)
Supremo T4-5 Zone
CFD-266 27 33 6 1.31
and 59 62 3 2.93
CFD-267 126 137 11 3.16
and 155 160 5 4.04
CFD-269 126 138 12 2.04
and 149 154 5 2.72
CFD-270 196 214 18 1.13
and 219 228 9 10.21
and 250 252 2 6.71
CFD-272 73 83 10 1.36
and 280 290 10 4.58
CFR-238 86.87 88.39 1.52 2.01
CFR-240 32 51.82 19.82 1.61
CFR-241 86.87 91.44 4.57 3.39
CFR-242 135.64 146.3 10.66 2.91
and 181.36 184.4 3.04 7.06
CFR-244 59.44 68.58 9.14 0.95
CFR-246 89.92 97.54 7.62 0.74
CFR-247 44.2 45.72 1.52 1.33
CFR-248 41.15 48.77 7.62 2
CFR-249 50.6 68.88 18.28 1.34
CFR-250 88.39 109.73 21.34 3.96
CFR-251 88.39 97.54 9.15 2.74
CFR-253 137.16 147.83 10.67 1.22
CFR-254 1.53 53.34 51.81 3.09
and 181.36 184.4 3.04 6.58
and 201.17 202.69 1.52 6.97
CFR-255 19.81 21.34 1.53 1.81
CFR-256 3.05 9.14 6.09 2.16
and 94.49 96.01 1.52 5.03
CFR-257 44.2 48.77 4.57 1.2
and 91.44 105.16 13.72 1.32
CFR-258 7.01 11.58 4.57 2.31
and 94.79 99.36 4.57 3.91
CFR-259 No Significant Result - Hole abandoned before target zone reached
CFR-260 105.16 117.35 12.19 4.7
CFR-261 58.22 67.36 9.14 2.29
CFR-263 9.75 21.34 11.59 1.39
CFR-264 21.34 22.86 1.52 1.6
CFR-265 53.34 62.48 9.14 1.99
CFR-266 31.09 40.23 9.14 2.22
CFR-267 89.92 92.96 3.04 3.7
and 152.4 161.54 9.14 5.42
CFR-268 64.62 67.67 3.05 8.86
and 128.63 145.39 16.76 5.1
CFR-270 131.98 135.03 3.05 5.16
CFR-272 195.68 200.25 4.57 2.44
CFR-275 26.52 29.57 3.05 1.23
CFR-283 9.75 29.57 19.82 5.27
CFR-285 162.15 163.68 1.53 2.04
CFR-287 139.29 145.39 6.1 1.58
Supremo T3 Zone
CFR-262 156.97 178.31 21.34 2.06
CFR-269 24.38 30.48 6.1 5.09
and 172.21 176.78 4.57 1.59
CFR-271 53.34 56.39 3.05 27.42
and 111.25 114.3 3.05 2.11
CFR-273 No Significant Result - Hole abandoned before target zone reached
CFR-274 45.72 48.77 3.05 4.15
CFR-276 24.38 32 7.62 21.9
and 71.63 76.2 4.57 2.51
CFR-277 151.49 154.53 3.04 1.19
and 160.63 163.68 3.05 1.58
CFR-278 71.63 74.68 3.05 1.53
CFR-279 68.58 71.63 3.05 14.85
CFR-280 No Significant Result
CFR-282 57.91 60.96 3.05 4.65
and 103.63 118.87 15.24 3.54
CFR-284 99.06 108.2 9.14 1.65
CFR-286 102.11 114.3 12.19 8.33
and 137.16 144.78 7.62 1.52
CFR-288 7.62 12.19 4.57 1.49
and 176.78 182.88 6.1 1.05
CFR-290 35.05 38.1 3.05 2.72
and 64.01 73.15 9.14 1.23

*Down-hole width; true width estimated at approximately 2/3 down-hole length.

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 sample string. Samples are placed in sealed bags and shipped directly to the ALS Minerals preparatory laboratory in Whitehorse prior to gold fire assay. 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, Ph.D., P.Geo., President and CEO

Kaminak Gold Corporation

For further information about Kaminak Gold Corporation or this news release, please visit our website at www.kaminak.com.

Certain disclosures in this release, including management's assessment of plans, projects and intentions with respect to the Coffee Project drilling program 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. 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.

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.

Contact Information

  • Kaminak Gold Corporation
    Tony Reda
    Vice President of Corporate Development
    toll free 1.888.331.2269, directly at 604.646.4534
    info@kaminak.com
    www.kaminak.com