Killdeer Minerals Inc.
TSX VENTURE : KMI

Killdeer Minerals Inc.

May 04, 2011 13:06 ET

Killdeer Announces Results From Drill Program on Gold Belt Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 4, 2011) -Killdeer Minerals Inc. (TSX VENTURE:KMI) ("Killdeer" or the "Company") wishes to announce results from the 2010 diamond drilling program on the Company's Gold Belt property. A total of 15 holes were completed, totalling approximately 2,217 metres, from 9 drill pads on the three main project areas on the property. The drill program comprised 6 holes (963.2 m) from 4 pads in the Vidgy Lake area, two long holes (434.0) from two pads at Triangle Lake and 7 holes (819.7 m) from 3 pads at Kwiatkoski Lake.

Drilling at the Kwiatkoski Lake showing tested two areas, the Davidson Showing and Granite Hill. Drill holes D10-1 to 5 were drilled from two pads located northwest of Kwiatkoski Lake. Holes D10-01 to 03 were drilled proximal to the outcrop from which earlier surface sampling returned values of 516.6 g/t Au and 93.4 g/t Au. All holes were drilled at an azimuth of 155º, with hole 01 at an inclination of -45º to 103 m, hole 02 at -60º to 119 m and hole 03 at -75º to 154 m. The second pad was located approximately 170 m to the west-southwest along Kwiatkoski Lake. Hole D10-04 was drilled at an inclination of -45º to a depth of 143 m and hole 05 at -60º to 140 m.

Results for the holes are tabulated below.

HoleFromToLengthAg(Au)CuPbZn
Number(m)(m)(m)(ppm)(ppb)(ppm)(ppm)(ppm)
D10-0152.0053.151.153.0495.170.612.3170
53.1554.291.1420.511760.0119.127.31689
54.2954.510.225.1498.846.1154.22500
54.5155.200.695.6559.143.9160.23546
55.2055.600.402.0232.724.912.192
55.6056.140.5427.118380.0129.418.23387
D10-0239.1440.050.910.43493.310.40.835
42.5543.220.670.3421.731.70.816
53.8655.031.171.5351.727.41.440
81.9083.131.230.12431.15.63.315
109.44109.660.220.2207.3113.30.710
D10-559.5560.520.970.3212.231.338.7128

Note: The interval between 52.00 and 56.14 returned a weighted average of 11.41 g/t Ag and 5.92 g/t Au over 4.14 m.

Two holes, GH10-01 and 02, were drilled northwest of Kwiatkoski Lake on the Granite Hill exposure. Both holes were drilled from the same pad at an azimuth of 008º. Hole GH10-01 was drilled at an inclination of -45º to a depth of 85 m and hole 02 at -70º to a depth of 76 m.

Results for the hol GH10-01s are tabulated below.

HoleFromToLengthAg(Au)CuPbZn
Number(m)(m)(m)(ppm)(ppb)(ppm)(ppm)(ppm)
GH10-0136.58392.420.43996.915.11.530

Drill hole GH10-02 did not return any significant results.

Holes VG10-01 to 05 were drilled north of Vidgey Lake at an azimuth of 45º to test a 1 to 2.5 m shear hosted quartz vein along strike. Holes VG10-01 and 02 were drilled from the same pad, with Hole 01 (168 m) drilled at an inclination of -45º and Hole 02 (145 m) at an inclination of -60º. Holes VG10-03 (142 m) and 04 (125 m) were drilled from a single pad located 29 m southeast of pad 1. Hole VG10-03 was drilled at an inclination of -45º and hole 04 at an inclination of -60º. Hole VG10-05 was drilled from a pad 56 m northwest of pad one at an inclination of -50º to a depth of 215 m. Hole VG10-06 was drilled from a pad located 104 m west-southwest of pad one at an azimuth of 090º and an inclination of -55º to a depth of 169 m.

Results for the holes are tabulated below.

HoleFromToLengthAg(Au)CuPbZn
Number(m)(m)(m)(ppm)(ppb)(ppm)(ppm)(ppm)
VG10-0168.6868.750.171.4455080<364
66.6868.171.49>1003006177>100005333
VG10-0376.6676.960.300.8395529<5
126.19127.561.370.83304076460
127.56128.631.070.730014535198
VG10-0410.6711.891.220.2637.3190.933
18.5219.280.760.731032.64.472
43.5944.580.991.6586.539.94.770
44.5845.721.140.9201.6119.13.398
100.86101.500.641.671.01752.51.479
VG10-05106.53107.090.560.4100056<334
VG10-06127.28128.020.741.848827504.744

Drilling at Triangle Lake tested an interpreted copper-nickel+/-platinum group element (Cu-Ni+/-PGE) mafic to ultramafic intrusion, part of the Bassett Lake layered mafic to ultramafic intrusive complex. Hole TL10-01 was drilled east of the northern end of Triangle Lake at an azimuth of 234º and an inclination of -45º to a depth of 221 m to test the core of a strong magnetic anomaly. TL10-02 was drilled approximately 570 m south-southeast of TL10-01, south of the southern end of the lake at an azimuth of 222º and an inclination of -55º to a depth of 213 m. Neither hole returned any significant analytical results.

A total of 434 samples were submitted to TSL Laboratories Inc. in Saskatoon, Saskatchewan.

The Gold Belt property covers an area of 22,619 hectares in the La Ronge Greenstone Belt., located approximately 70 kilometers north of the community of La Ronge in north-central Saskatchewan. The La Ronge Greenstone Belt hosts gold (Au) mineralization (and other minerals) occurring predominantly as gold-bearing shear zones.

The technical information in this release was reviewed and approved by Richard T. Walker, B.Sc., M. Sc., P. Geo., the Company's Qualified Person as defined by National Instrument 43-101.

The Company also announces the resignation of Mike Elson as President & CEO of Killdeer and the appointment of Stan Szary as interim President & CEO. Mr. Elson will remain a Director of the Company.

ON BEHALF OF THE BOARD OF DIRECTORS

Stan Szary, President, Chief Executive Officer and Director

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 news release.

Contact Information

  • Killdeer Minerals Inc.
    Stan Szary
    President, Chief Executive Officer and Director
    (604) 685-6989
    (604) 685-6961 (FAX)
    www.killdeerminerals.com