Komet Resources Inc.
TSX VENTURE : KMT

Komet Resources Inc.

May 02, 2017 08:30 ET

Komet Intersects 2.02 g/t Gold Over 62 M and 1.26 g/t Over 67 m on Dabia South in Mali

QUEBEC CITY, QUEBEC--(Marketwired - May 2, 2017) - Komet Resources Inc. (« Komet » or « the Company »)(TSX VENTURE:KMT) is pleased to announce a new set of results from its drilling program completed on the Dabia South permit (previously known as Moussala) in Mali. The new results from RC drilling (intercept true widths not determined) are from the central and eastern portion of the gold-rich Kabaya structure that runs north-south across the permit. The structure has now been traced over a strike length of 500 m and a width of 230 m. Notable drill intercepts include: 2.02 g/t Au over 62 m; 1.16 g/t Au over 67 m; and 3.43 g/t Au over 12 m. Other significant results are presented in the following table. For previously released results, please refer to the press release dated June 21, 2016, and more recently the press release dated March 27, 2017.

Summary table of most significant results:

Hole number From (m) To (m) Interval (m) Au (g/t)
Km2016rc01 33 44 11 1.65
including 37 39 2 5.56
Km2016rc01 70 80 10 0.73
Km2016rc02 23 27 4 0.49
Km2016rc03 48 56 8 2.29
including 51 53 2 6.74
Km2016rc03 66 81 14 0.59
Km2016rc04 5 9 4 0.60
Km2016rc05 40 48 8 0.39
Km2016rc06 39 47 8 1.61
Km2016rc06 51 62 11 3.72
including 53 56 3 12.23
Km2017rc08 0 1 1 0.55
Km2017rc09 27 30 3 2.03
Km2017rc10 0 11 11 0.35
Km2017rc11 0 80 72 0.87
including 0 17 17 1.71
Km2017rc12 0 62 62 2.02
including 25 27 2 9.76
including 32 35 3 8.19
including 38 42 4 6.25
including 46 51 5 5.96
including 55 57 2 1.72
Km2017rc14 0 6 6 0.44
Km2017rc15 0 27 27 1.33
including 0 11 11 1.64
including 15 22 7 1.62
including 24 25 1 1.76
Km2017rc15 78 80 2 0.52
Km2017rc16 0 67 67 1.16
including 0 18 18 2.03
including 8 9 1 7.67
including 23 30 7 2.42
Including 39 41 2 1.73
Km2017rc17 0 27 27 0.97
including 13 18 5 1.90
Km2017rc17 33 38 5 0.75
Km2017rc18 0 13 13 0.49
Km2017rc19 0 3 3 0.62
Km2017rc19 23 39 16 0.39
Km2017rc20 0 13 13 3.43
including 0 7 7 5.68
Km2017rc22 12 15 3 1.35
Km2017rc22 20 22 2 0.74
Km2017rc23 0 11 11 0.73
Km2017rc25 79 80 1 1.29
Km2017rc27 0 19 19 0.48
Km2017rc29 0 13 13 0.67
Km2017rc31 0 10 10 0.52
Km2017rc37 1 2 2 0.27

Regarding these new results Mr. André Gagné, president and CEO, commented: "These results are very encouraging and are being added to the ones recently released in March from the same zone. The gold mineralization at Kabaya compares favorably to the one outlined in the Siribaya, Kono and Diaka gold zones now being developed by Iamgold, a few kilometers south of our permit." We are waiting for the remaining results from the drilling program in order to perform a compilation and a preliminary resource assessment for this portion of the Kabaya structure.

Samples were analysed by fire assay with AA finish on 50 g sample aliquots at the SGS Laboratory in Bamako, Mali. Drilling supervision and sampling at the drill site were performed by qualified technical staff. The QA/QC program and the processing of results were designed by qualified geologists according to NI 43-101 regulation standards and best industry practices. One blank or standard or duplicate sample was inserted for every 20 samples analyzed.

More information about the corporation is available at: http://kometgold.com.

Jacques Marchand, P.Eng. P.Geo., is the Qualified Person who has reviewed this news release and is responsible for the technical information presented herein.

Forward-Looking Statements

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release contains statements that may constitute "forward-looking information" or "forward-looking statements" as set out within the context of security law. This forward-looking information is subject to many risks and uncertainties, some of which are beyond Komet's control. The actual results or conclusions may differ considerably from those that have been set out, or intimated, in this forward-looking information. There are many factors which may cause such disparity, especially the instability of metal market prices, the results of fluctuations in foreign currency exchange rates or in interest rates, poorly estimated resources, environmental risks (stricter regulations), unforeseen geological situations, unfavorable extraction conditions, political risks brought on by mining in developing countries, regulatory and governmental policy changes (laws and policies), failure to obtain the requisite permits and approvals from government bodies, or any other risk relating to mining and development. There is no guarantee that the circumstances anticipated in this forward-looking information will occur, or if they do occur, how they will benefit Komet. The forward-looking information is based on the estimates and opinions of Komet's management at the time of the publication of the information and Komet does not assume any obligation to make public updates or modifications to any of the forward-looking statements, whether as a result of new information, future events, or any other cause, except if it is required by securities laws.

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