Kapuskasing Gold Adds 4 New Properties in Borden Gold Camp
10 July 2014 - 11:00PM
Marketwired Canada
Kapuskasing Gold Corp. (TSX VENTURE:KAP) (the "Company" or "Kapuskasing") is
pleased to announce that it has added four new properties to its portfolio.
Kapuskasing acquired all four properties by staking and thus holds a 100%
interest in an additional 19,696 hectares in Ontario's newest gold camp. With
this new land position, the Company now has six (6) separate but related
exploration properties.
New map can be viewed here: http://www.kapgold.com
The Company has also recently completed initial ground reconnaissance work on
the Rollo and Borden North properties it acquired earlier this year and is set
to commence its summer exploration activities.
Rollo Update (19,160 hectares)
On the Rollo property the Ontario Government documents 1948 and 1950 reports
indicate visible gold at the Hanson Lake and Coppell Lake Occurrences. These
occurrences are approximately 4 kilometers apart and mapping by the GSC indicate
they are along the same anticlinal feature.
Borden North Update (17,600 hectares)
The compilation of the known geological data on Borden North indicates the
presence of highly metamorphosed sediments and gneisses that parallel the
Ivanhoe Fault. These rocks are potentially similar to the Borden Gold Zone. The
applicable NI 43-101 report filed on May 9, 2014 recommends extensive
prospecting and geochemical sampling to define the anomalous gold zones with
follow-up geophysics and diamond drilling.
Newly Staked Claim Groups:
Borden West (9,904 hectares) sits at the southwestern flank of the Kapuskasing
Structural Zone, immediately west of the town of Chapleau and 20 km west of
Probe's Borden Gold discovery. The property covers ground along a projected
offset of the structural zone, which hosts the Borden Gold Zone to the
southeast. This structural zone has never been drill tested and will be the
focus of planned prospecting and future geophysical work prior to drill testing.
Access to this property is via gravel forest access roads that run through the
claim group.
The Schewabik Belt (6,304 hectares) The property hosts strongly altered and
metamorphosed rocks interpreted to represent the eastward continuation of the
Destor-Porcupine Fault zone within the Kapuskasing Structural zone. Ontario
Government maps show the area is underlain by migmatized metavolcanic and
metasedimentary rocks similar to Probe's Borden Gold zone.
Borden South (4,256 hectares) comprises approximately 4,200 Ha on the
southeastern flank of the Kapuskasing uplift, running from a large carbonitite
intrusive to the southwest along the Ivanhoe Fault abutting into Probe Mines
East Limb property to the northeast. Borden South may be associated with the
locally offset portion of the Rideout Shear System which hosts Probe's Borden
Gold and IAMGold's Cote Lake deposits.
Golden Route (1,232 hectares) encompasses approximately 1,200 Ha is situated 10
km southwest of Chapleau approximately 20 km southwest of the Borden Gold
project. Ontario Government maps indicate geology similar to the Borden lake
area and very limited historic work. These claims are located parallel to
Highway 101.
Subject to finalized plans and budgets, Kapuskasing Gold's exploration plans for
all the properties includes geophysics and prospecting to define drill targets
for an early fall campaign.
On behalf of the Board of Directors of Kapuskasing Gold Corp.
Dean Nawata, President & CEO, Director
Qualified Person
Mr. Garry Clark, P.Geo, the Exploration Manager and a director of the Company, a
Qualified Person ("QP") as defined by National Instrument 43-101, has reviewed
the technical content of this release.
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.
Forward-Looking Statements and Cautionary Notes
Statements in this document which are not purely historical are forward-looking
statements, including any statements regarding beliefs, plans, expectations or
intentions regarding the future. Forward-looking statements contained in this
document are based on certain key expectations and assumptions made by
Kapuskasing, including, without limitation, expectations and assumptions
respecting the outlook and timing of exploration/development activity on the
Borden North and Rollo properties and the impact on Kapuskasing's business and
management assessment of future operations. Although the forward-looking
information contained in this press release is based upon what Kapuskasing's
management believes to be reasonable assumptions, the Company cannot assure
investors that actual results will be consistent with such information.
Forward-looking information reflects current expectations of management
regarding future events and operating performance as of the date of this press
release.
It is important to note that actual outcomes and the Company's actual results
could differ materially from those in such forward-looking statements. Risks and
uncertainties include, but are not limited to, economic, competitive,
governmental, environmental and technological factors that may affect the
Company's operations, markets, products and prices. Readers should refer to the
risk disclosures outlined in the Company's Management Discussion and Analysis of
its audited financial statements filed with the British Columbia Securities
Commission.
The forward-looking information contained herein is expressly qualified in its
entirety by this cautionary statement. Forward-looking information reflects
management's current beliefs and is based on information currently available to
the Company. The forward-looking information is made as of the date of this
press release and Kapuskasing assumes no obligation to update or revise such
information to reflect new events or circumstances, except as may be required by
applicable law.
This news release contains information with respect to adjacent or similar
mineral properties in respect of which the Company has no interest or rights to
explore or mine. Readers are cautioned that the Company has no interest in or
right to acquire any interest in any such properties, and that mineral deposits
on adjacent or similar properties are not indicative of mineral deposits on the
Company's properties.
FOR FURTHER INFORMATION PLEASE CONTACT:
Kapuskasing Gold Corp.
Dean Nawata
President & CEO, Director
1-604-561-2821
www.kapgold.com
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