Kaminak Gold Corporation
TSX VENTURE : KAM

Kaminak Gold Corporation

March 08, 2011 08:25 ET

Kaminak Reports 97% Gold Recoveries From Initial Metallurgical Testing of Oxide Mineralization, Coffee Project, Yukon

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 8, 2011) - Kaminak Gold Corporation (TSX VENTURE:KAM) today announced details of initial metallurgical testing completed on oxide material at the Coffee Gold Project. Test work comprised basic cyanidation, carbon-in-leach (CIL) and carbon-in-pulp (CIP) analyses from two composite samples, one each from oxide gold mineralization from the Supremo and Latte gold zones. In general, oxidation in these two zones extends to 75m vertically and locally as deep as 150m.

Key Points:

  • Gold Recovery ranged from 96.3% to 98.5%, with average recoveries of 97.6% from CIL and 97.1% from CIP.
  • No indications of refractory or coarse gold.
  • Future testing will encompass other gold zones, transitional and fresh rock material, and experimentation of grind size, flotation and cyanidation to determine the optimum processing path. 

Metallurgical test work was conducted on samples of pre-crushed bulk coarse residue material left over from assaying. Two composite samples were produced comprising a 41kg sample grading 4.0g/t Au from Supremo, and a 49.8kg sample grading 2.5g/t Au from Latte. The samples were derived from down hole core depths of 15m to 133m from Supremo, and 45m to 68m from Latte. Surface oxidation due to weathering at Coffee averages 75m below surface at Latte, and extends up to 150m below surface on mineralized fault zones at Supremo. The majority of mineralization encountered to date at Coffee is oxidized.

Test work included several conventional processing options including conventional 72 hour bottle-roll cyanidation, carbon in leach (CIL) and carbon in pulp (CIP). Gold recoveries were as follows:

Method Supremo Latte Average
Cyanidation (bottle roll) 96.3% 97.9% 97.1%
Carbon-in-leach (CIL) 96.6% 98.5% 97.6%
Carbon-in-pulp (CIP) 96.7% 97.4% 97.1%

Future metallurgical testing will encompass a comprehensive suite of samples from additional mineralized zones and depths within the oxidation profile and low and high grade styles of mineralization. In addition, the impact of grind size on cyanidation tests, sulphide flotation to reduce leaching requirements and potential of heap leaching oxide material will also be investigated.

The metallurgical test work was completed by Inspectorate Exploration and Mining Services Ltd. of Vancouver, B.C., under the supervision of Starkey & Associates Inc. and SRK Consulting (Canada) Inc. Kaminak is currently finalizing a NI 43-101 Coffee Technical Report, which will contain details of the metallurgical test work. Upon completion, this report will be announced and filed on Sedar and the Kaminak website.

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. The Coffee property represents 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

Kaminak is a member of the Discovery Group of companies. For more information on the group please visit www.discoveryexp.com.

Certain disclosures in this release, including management's assessment of plans and projects and intentions with respect to listings of securities, use of proceeds 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 or direct: 604.646.4534
    info@kaminak.com
    www.kaminak.com