Komet Resources Inc.
TSX VENTURE : KMT

Komet Resources Inc.

January 29, 2015 09:04 ET

Komet Resources Inc.: Preliminary Sampling Results on The Guiro Permit

QUEBEC, QUEBEC--(Marketwired - Jan. 29, 2015) - Komet Resources Inc. ("Komet" or the "Company") (TSX VENTURE:KMT)announces the results of the preliminary sampling program carried out on the Guiro property that returned significant gold values. This sampling campaign was part of the due diligence in order to provide insight on the Guiro deposit potential as well as other known gold targets of the permit. The sampling of waste heaps from the former mill and stockpiles from the mine consisted of a composite of three sub-samples, of which two were collected at the base and one at the top of the different piles. The program also included grab samples on geological targets located elsewhere on the property.

The sampling of the mine stockpiles resulted in averages of 69.5 g/t Au and 5.35 g/t Au. Regional sampling produced averages of 9.2 g/t Au in Diouga, 19.2 g/t Au in Bayildiaga and 0.9 g/t Au at the Malorie quarry. These preliminary results confirm a high exploration potential on the Guiro license, which extends for 23 kilometers north of the mine (see technical report by Jacques Marchand, dated July 7, 2014 and filed on SEDAR). These results will also be useful in planning the next exploration campaign. André Gagné, president and CEO, stated: "These excellent preliminary results are very encouraging and we look forward to the upcoming exploration campaign."

Detailed results of property and mine sampling:

Sample_ID Description of Sample type Weight (kg) Results
g/t Au
Average
g/t Au
GR0001 REJECT - KNELSON (over flow) 3.5 5.911
GR0002 REJECT - KNELSON (over flow) 3.2 3.635
GR0003 REJECT - KNELSON (over flow) 3 4.065 4.537
GR0004 REJECT - KNELSON (under flow) 3.7 1.884
GR0005 REJECT - KNELSON (under flow) 3.8 1.943
GR0006 REJECT - KNELSON (under flow) 3.1 1.861 1.896
GR0007 REJECT - VAT 3.6 1.813
GR0008 REJECT - VAT 2.8 1.933
GR0009 REJECT - VAT 4.0 1.499 1.75
GR0010 MINE WASTE (Granodiorite) 4.2 0.036
GR0011 MINE WASTE (Quartz vein) 2.8 0.029
GR0012 MINE WASTE (Quartz vein) 3.6 0.557 0.21
GR0013 ARTISANAL GOLD DIGGING DIOUGA 0.8 17.597 17.6
GR0014 MALORIE QUARRY 3.2 0.939
GR0015 MALORIE QUARRY 3.4 0.948
GR0016 MALORIE QUARRY 3.1 0.744 0.88
GR0017 ARTISANAL GOLD DIGGINGS BAYILDIAGA 2 3.6 1.557
GR0018 ARTISANAL GOLD DIGGINGS BAYILDIAGA 2 4.4 42.189
GR0019 ARTISANAL GOLD DIGGINGS BAYILDIAGA 2 2.8 23.88 22.54
GR0020 ARTISANAL GOLD DIGGINGS BAYILDIAGA 1 3.3 28.186
GR0021 ARTISANAL GOLD DIGGINGS BAYILDIAGA 1 3.1 0.007 14.1
GR0022 MINE STOCKPILE (LEVEL 3 AT 90m depth) 2.5 55.097
GR0023 MINE STOCKPILE (LEVEL 3 AT 90m depth) 3.5 43.029
GR0024 MINE STOCKPILE (LEVEL 3 AT 90m depth) 2.7 110.306 69.48
GR0025 MINE STOCKPILE (LEVEL 4 AT 128m depth) 2 2.886
GR0026 MINE STOCKPILE (LEVEL 4 AT 128m depth) 3.3 1.68
GR0027 MINE STOCKPILE (LEVEL 4 AT 128m depth) 3.7 11.469 5.35
GR0028 ARTISANAL GOLD DIGGINGS DIOUGA 2.3 5.048
GR0029 ARTISANAL GOLD DIGGINGS DIOUGA 2.2 4.898 4.97

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

Forward-Looking Statements

Neither TSX Venture Exchange nor the regulatory service provider (as the term is defined in TSX Venture Exchange's policies) accept any liability of any kind as to the authenticity 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 Inc.'s ("Komet") 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 reserves, 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. Jacques Marchand, P.Eng. Geo., is the Qualified Person who has reviewed this news release and is responsible for the technical information presented there, including verification of the data disclosed. The sampling were processed and analysed by the BIGGS laboratory at Ouagadougou, Burkina Faso.

Contact Information

  • Investors relations and information:
    Andre Gagne
    President and CEO
    581-300-1666
    a.gagne@kometgold.com
    Skype : andregagne11