Kent Exploration Applies for NZ Lyell Gold Project Exploration Permit
14 November 2012 - 8:40AM
Marketwired Canada
Kent Exploration Inc. (TSX VENTURE:KEX)(PINKSHEETS:KXPLF)(FRANKFURT:7KX) (the
"Company" or "Kent") reports that it has applied for an Exploration Permit over
a portion of its already permitted Lyell Gold Project that lies approximately 40
km north-east from the town of Westport in New Zealand's ("NZ") highly prolific
West Coast, South Island, gold fields.
During the 2009 through 2011 work programs at Lyell, the Company essentially
confirmed that the area, including the historic Red Queen Mine, the most
profitable quartz gold mine in the area, is highly prospective for high-grade
gold mineralization. Intermittent mining of the Red Queen Vein ("RQV") between
1885 and 1910 reportedly produced 3,104 ounces of gold from 2,243 tons of ore,
at an average grade of approximately 43 g/t (1.4 opt). Intermittent mining also
occurred in the mid 1930s to 1941. Since being closed in 1941, the Red Queen
Mine has received only minimal attention from explorers. Historic mines in the
area include the Red Queen, Red Chief, Southern Light, Andersons Creek Reef,
Nile, Swanston, Swastika, South Pacific, Mokihinui, Lady Agnes and Halcyon
Mines.
The historic Red Queen Mine has good potential to host significant gold
mineralization. Historic production records from early mining suggest that the
RQV may possess average grades as high as 42.86 g/t (1.4 opt) gold (Table 1).
Table 1
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Tonnes Ounces of Gold Average Gold Grade
Period of Ore Produced (g/t)
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1885-1886 1585 2262 44.39
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1902-1910 658 842 39.17
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Total 2243 3104 42.86 (weighted average)
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While production records for subsequent mining in the 1930s - 1940s are not
available, assay results from sampling are. All available historic assay results
for the RQV to-date are listed in Table 2. These assay results indicate bonanza
grades of up to 171.48 g/t Au (5.48 opt Au) are present at the Red Queen Mine.
Many of the 50 lb representative samples assayed in 1938, and filed with the now
NZ Petroleum and Minerals, reportedly deliberately excluded vein material that
was seen to contain visible gold and therefore the true gold grades, may be
underestimated.
Table 2
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Sample Gold
Year ID Location Notes (g/t)
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1938 - Payne's Drive, 64ft along x-cut Grab sample 171.48
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1938 - Payne's Drive, 64ft along x-cut 50lbs rep. sample 18.14
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1938 - Payne's Drive, 64ft along x-cut 50lbs rep. sample 5.51
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1938 - Payne's Drive, S-Drive - 37ft Grab sample 10.17
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1938 - Payne's Drive, S-Drive - 40ft Grab sample 2.01
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1938 25ft-1 Payne's Drive, S-Drive - 25ft 50lbs rep. sample 17.39
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1938 25ft-2 Payne's Drive, S-Drive - 25ft 50lbs rep. sample 18.15
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1938 25ft-3 Payne's Drive, S-Drive - 25ft 50lbs rep. sample 17.54
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1938 30ft-1 Payne's Drive, S-Drive - 30ft 50lbs rep. sample 4.98
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1938 30ft-2 Payne's Drive, S-Drive - 30ft 50lbs rep. sample 5.53
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1938 30ft-3 Payne's Drive, S-Drive - 30ft 50lbs rep. sample 5.13
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1938 35ft-1 Payne's Drive, S-Drive - 35ft 50lbs rep. sample 2.01
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1938 35ft-2 Payne's Drive, S-Drive - 35ft 50lbs rep. sample 2.53
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1938 45ft-1 Payne's Drive, S-Drive - 45ft 50lbs rep. sample 10.17
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1938 71ft-1 Payne's Drive, S-Drive - 71ft 50lbs rep. sample 1.33
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1938 77ft-1 Payne's Drive, S-Drive - 77ft 50lbs rep. sample 79.88
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1938 84ft-1 Payne's Drive, S-Drive - 84ft 50lbs rep. sample 84.39
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1938 90ft-1 Payne's Drive, S-Drive - 90ft 50lbs rep. sample 3.02
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1938 107ft-1 Payne's Drive, S-Drive - 107ft 50lbs rep. sample 53.57
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1938 110ft-1 Payne's Drive, S-Drive - 110ft 50lbs rep. sample 11.31
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1938 117ft-1 Payne's Drive, S-Drive - 117ft 50lbs rep. sample 3.84
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1939 - Lower Level Drive, x-cut B RQV Grab sample 65.84
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1939 - Lower Level Drive, x-cut B RQV Grab sample 91.44
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1971 M2 Lower Level Drive, x-cut B RQV Grab sample 74.96
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2009 RXHR00002 Lower Level Drive, x-cut B RQV Grab sample 69.40
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2010 RXHR00020 Lower Level Drive, x-cut B RQV Repeat: RXHR00002 28.90
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2010 RXHR00011 Lower Level Drive, x-cut C RQV Grab sample 2.94
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2011 57223 15m into x-cut A RQV 1m chip 6.87
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2011 57234 Lower Level Drive - 170m. RQV 1m chip 0.56
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The RQV is relatively extensive where it is exposed by the historic workings,
and can been traced over approximately 200m along dip and 300m along strike. The
RQV is structurally very simple; being planar, trending sub-parallel to the
host-rock bedding/foliation (striking approximately north-south and dipping 70
degrees -80 degrees west), and featuring only minor amounts of offset along
cross-cutting faults. Gold mineralization remains open both up-and down-dip and
along strike to the north and south. The two accessible drives, Paynes and Lower
Level, were driven approximately 5 - 10 m beside and parallel to the Red Queen
vein and have been characterized as production drives.
Characteristics of the Red Queen Mine indicate an orogenic, Blackwater-type
style of gold mineralization. (Blackwater, south of the town of Reefton and
central to the Reefton Gold Field, was mined down to approximately 2,800 ft and
reportedly produced approximately 730,000 ounces of gold before it was shut down
after a shaft collapse. Historic reports indicate an approximately 300,000 ounce
gold resource was identified at the time of the shut down).
The Company advises that the grades reported prior to 2009 are historic in
nature, are not NI 43-101 compliant and should not be relied upon. A qualified
person has not done sufficient work to classify historical estimates as a
current mineral resource and the Company is not treating the historical
estimates as a current mineral resource and any historical estimates should not
be relied upon.
Kent Exploration Inc. is a junior exploration company with a 100% interest in
all its major projects, and is planning on building shareholder value through
establishing cash flow from its Flagstaff Mountain, WA, barite mine, and then
from its now wholly owned bentonite property in Nevada. Any positive cash flow
is intended to reduce dilution and fund exploration on its three major gold
prospects (Alexander River, Paparoa and Lyell), in the highly prolific West
Coast South Island gold fields of New Zealand. Additional shareholder value has
been established through its approximately 18% interest in Archean Star
Resources Inc, ("Archean") which is listed on the TSX Venture Exchange under the
symbol ASP.
The Company has an experienced management and technical team with extensive
exploration expertise and offers investors the potential for a major gold
discovery on its New Zealand gold projects.
This News Release has been prepared on behalf of the Kent Exploration Inc. Board
of Directors, which accepts full responsibility for its contents. The contents
of this news release has been reviewed and approved by Dr. Clay Conway, P.
Geol., a Qualified Person as recognized by National Instrument NI-43-101 and a
director of the Company.
ON BEHALF OF THE BOARD
Graeme O'Neill, President
FOR FURTHER INFORMATION PLEASE CONTACT:
Kent Exploration Inc.
Graeme O'Neill
President
604-684-3394 or Toll Free: 1-866-399-6539
1-888-282-7763 (FAX)
www.kent-exploration.com
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