Kent Exploration Inc.
TSX VENTURE : KEX

Kent Exploration Inc.

August 05, 2009 09:00 ET

Kent Acquires NZ Gold Property With an Historic 643,000 Ounce Gold Resource

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 5, 2009) - Kent Exploration Inc. (the "Company") (TSX VENTURE:KEX) reports that, through its wholly-owned New Zealand subsidiary, Kent Exploration NZ Ltd (Kent NZ), it has received from Crown Minerals New Zealand, a Prospecting Permit (the Permit) in close proximity to the Company's Reefton Gold Project, west coast, South Island, New Zealand.

The 2,669 ha Alexander River gold prospect, approximately 25 km southeast of Reefton, lies in the southern portion of the prolific Reefton Gold Field, where historic production is reported to be in excess of 10 million ounces of placer gold and 2 million ounces of lode gold.

The Alexander River Prospect is the location of the historic Alexander gold mine, with a strike of approximately 2 km, that reportedly produced 41,091 ounces of gold from 47,726 tonnes of quartz prior to closing in 1943, when further mine development was hampered by labor shortages. Macraes Mining, the precursor company to Oceana Gold, rehabilitated the number six level adit, mapped and sampled the underground workings, and drilled seven underground holes between 1993 and 1996, of which one reportedly intersected a 9 meter zone of 3.85 g/t, which included 5.4 meters of 5.3 g/t, and one which intersected 1.9 meters of 9.8 g/t.

In a filing with Crown Minerals NZ, Macraes reported that an auriferous halo of sulphide-hosted mineralization exists around the early mined reefs, and that there was an inferred resource of approximately four million tonnes grading 5+ g/t gold, or approximately 20,000,000 grams (643,000 ounces) of gold, in a shallow dipping structure from surface to the Level 6 workings. The Company advises that a qualified person has not done sufficient work to classify the historical estimates as a current mineral resource, the Company is not treating the historical estimates as a current mineral resource and the historical estimates should not be relied upon.

Kent plans to conduct a geological mapping and sampling program at the Alexander River mine during late 2009, to determine targets for drilling early in 2010, which is subject to permit approval and financing.

Oceana Gold is currently open cut mining their Globe Progress mine, which produced approximately 640,000 ounces from the underground workings, prior to being converted into an open cut mine with an estimated resource of 1 million ounces. The Globe Progress mine, which lies approximately 20 km north of the Alexander River prospect, commenced production in 2007. Oceana Gold has recently applied to Crown Minerals NZ to extend the boundaries of the mine permitted area at Globe Progress. The western boundary of the proposed extension is in close proximity to the north-east boundary of the Company's Reefton Gold Project.

Ms. Nancy Reardon, M.Sc. P.Geol., a Qualified Person as defined by National Instrument NI-43-101, is the Company's Senior Geological Consultant for the Company's New Zealand and Australian exploration activities.

Kent Exploration Inc is a junior exploration company that has a 100% interest in a mining lease option on the Flagstaff Mountain property, a gold/silver/zinc/barite prospect in eastern Washington state, 50% of a 100% interest in the mining lease option on the Ivanhoe Creek property, a Midas-style gold/silver target in Nevada's Carlin Trend, 50% of a 100% interest in the Ivanhoe Creek placer claims covering a bentonite deposit, 100% interest in the Courtney Lake property, a silver/ lead/ zinc prospect in north-east Saskatchewan, an option to earn a 100% interest in the Silver Hills property, a silver/ lead/ zinc prospect in south-eastern British Columbia, 100% interest in Coal Prospecting Permits covering approximately 92,000 ha in east-central Saskatchewan, and an option to acquire a 70% interest in the Reefton gold project in New Zealand. The Company has executed a proposal with Teck Australia Pty, Ltd, to enter into an Option Agreement to earn 100% of Teck's interest in Chalice Gold's Gnaweeda Gold Project in West Australia.

This News Release has been prepared on behalf of the Kent Exploration Inc Board of Directors, which accepts full responsibility for its contents. The content of this news release has been reviewed and approved by Marvin A. Mitchell, a director of the Company and a Qualified Person as defined by National Instrument NI-43-101.

ON BEHALF OF THE BOARD

Graeme O'Neill, President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Kent Exploration Inc.
    Graeme O'Neill
    President
    604-684-3394 or Toll Free: 1-866-399-6539
    1-888-282-7763 (FAX)
    www.kent-exploration.com