VANCOUVER, BC--(Marketwired - October 13, 2016) - Kiska Metals Corporation (TSX VENTURE: KSK) ("Kiska" or the "Company") announces that it has received all of the drill results from this seasons' program at the Copper Joe porphyry copper-gold-molybdenum project in Alaska, a program fully-funded by First Quantum Minerals ("FM").
The program consisted of one 806 metre long diamond drillhole that targeted the centre of a 1.4 km-wide MT geophysical anomaly coincident with other geological, geochemical and geophysical anomalies. The drilling did not return any significant results, however it did intercept over 400 metres of hydrothermal breccia with strong phyllic alteration, abundant pyrite, and sparse early quartz veins, magnetite-anhydrite-pyrite-chalcopyrite veins and banded molybdenite veins. The wide zone of hydrothermal breccia with abundant pyrite is postulated as the cause of the conductivity low anomaly identified by the MT survey. The extent of brecciation and the strength of the alteration seen in this hole is further evidence that Copper Joe is host to a robust porphyry-hydrothermal system, however additional drilling is required to determine if ore-grade mineralization exists. FM has indicated to Kiska of its intention to withdraw from the project, and Kiska will evaluate the next steps for Copper Joe over the coming days.
"Kiska would like to thank First Quantum for their financial and technical participation in the Copper Joe project since 2014. The joint technical team has done a superb job developing and testing targets and we appreciate First Quantum's dedication to the project," stated Dr. Mike Roberts, V.P. Exploration for Kiska, "Although results are disappointing, Copper Joe has served as an excellent example of Kiska's ability to expose its shareholders to participation in a potential world-class discovery through cooperative agreements with senior mining companies. We look forward to developing similar new opportunities in the near-future."
The technical content of this document was reviewed and approved by Michael Roberts, Ph.D., P.Geo., Vice President of Exploration for Kiska Metals Corporation, a Qualified Person as defined by National Instrument 43-101.
About Kiska Metals Corporation - Discovery Starts Here
Kiska specializes in developing early-stage mineral exploration projects with the goal of discovering economic mineral deposits. The Company's focus and expertise is precious and base metal deposits in the Americas. Kiska employs the "Royalty and Project Generator" business model to finance exploration, leverage exploration dollars and data, and preserve shareholder equity. Kiska partners its projects with mining and exploration companies who share its vision and commitment with respect to environmentally and socially responsible mineral exploration and development. Kiska believes that the next generation of economic mineral deposits will be discovered by solid boots-on-the-ground fieldwork coupled with innovative exploration technologies -- this approach increases the odds of discovery and is Kiska's competitive advantage over its peers.
Kiska holds a high quality portfolio of gold and copper projects throughout North America, large technical databases, and an extensive royalty portfolio. The Company has cash and marketable securities of ~$7 million, and a modest market capitalization of ~$7 million (116.3 million shares outstanding).
On behalf of Kiska Metals Corporation
Grant Ewing, President & CEO
Neither 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.
CAUTIONARY STATEMENT: No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This News Release includes certain "forward-looking statements". Other than statements of historical fact, all statements included in this release, including, without limitation, statements regarding future plans and objectives of Kiska Metals Corporation, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Kiska's expectations are the risks detailed herein and from time to time in the filings made by Kiska Metals Corporation with securities regulators. Those filings can be found on the Internet at http://www.sedar.com.