VANCOUVER, BC--(Marketwired - July 18, 2016) - Kiska Metals Corporation ("Kiska" or the "Company") (TSX VENTURE: KSK) is pleased to report that an exploration team and drill rig has been mobilized to the Copper Joe project in Alaska to commence a diamond drilling program. Copper Joe is a copper-gold-molybdenum porphyry project located 175 km to the northwest of Anchorage in the Alaska Range, and is under option to First Quantum Minerals ("FM"). Kiska is operating the project and retains a 20% carried interest when a decision to mine is made (see August 27, 2014 news release).
"We are very excited that FM has decided to drill the Evening Star porphyry target at Copper Joe. It is a testament to the potential scale of this system. Kiska and FM have systematically accumulated a variety of information over this prospect including surface mapping, geochemistry and deep geophysics that have been combined to generate a robust target for drill testing," states Dr. Mike Roberts, V.P. Exploration of Kiska Metals.
The Copper Joe project hosts an extensive area of phyllic alteration, including local zones of potassic alteration, porphyry-style quartz-chalcopyrite veining, and hydrothermal breccias within Eocene and Miocene intrusive rocks. In 2015, Kiska and FM completed detailed alteration and vein mapping, alteration mineral chemistry mapping (white-mica hyperspectral analysis and chlorite chemistry), a 12 km2 full-tensor MT geophysical survey, and applied Fathom Geophysic's proprietary 3-dimensional porphyry footprint lithogeochemical modeling method. This work has defined two compelling porphyry targets, the Evening Star and Morning Star prospects. A plan map and cross-section can be found on Kiska's website.
The Evening Star prospect is defined by a 2.5 km-diameter area of intense phyllic alteration with an outer margin of significant D-style quartz-pyrite veining and a 1 km-wide inner zone of significant banded quartz-molybdenite veining. Porphyry footprint lithogeochemical modeling, hyperspectral white-mica analysis, and chlorite chemistry analysis suggests that this inner zone represents the high-level centre of a porphyry system. The MT survey shows that this inner zone is coincident with a discrete, 1.4 km-wide low conductivity anomaly (<100 ohm-m) centred approximately 650 m from surface. This MT anomaly is draped by a 2.5 km-wide induced polarisation (IP) high chargeability anomaly defined by four pole-dipole IP lines. The core of this MT anomaly defines the drill target for the 2016 program, and will be tested with an 800 metre-long diamond drillhole. Kiska and FM drilled two holes in 2014 into what are now recognized as high-level breccia bodies and IP chargeability anomalies located marginal to the present target, and which contain no significant mineralization. Neither hole drilled in 2014 tested the above-mentioned conductivity low anomaly.
The newly-appreciated Morning Star prospect occurs 2.2 km to the southwest of Evening Star in a relatively low-lying area mostly covered by glacial till. The Morning Star is defined by narrow outcrop exposures in creek gulleys that contain chalcopyrite mineralization in EDM halos and B-style quartz veins over a 400 metre-wide area. Previous grab samples collected from this area returned significant copper and gold values. Morning Star has yet to be tested by geophysical surveys or drilling, and will be further investigated by geologists in 2016.
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 "Project and Royalty 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; four of its projects are held under option agreements, three of which are with major mining companies. Kiska has several other gold and copper projects available for option-joint venture, large technical databases, and an extensive royalty portfolio. The Company has cash and marketable securities in excess of $6 million, and a market capitalization of ~$10 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.