Killdeer Minerals Inc. Samples 15.08 oz/t Gold at Gold Belt Property
13 November 2009 - 8:38AM
Marketwired
Killdeer Minerals Inc. ("Killdeer") (the "Company") (TSX VENTURE:
KMI), has optioned the Gold Belt property (1 claim totalling 793
hectares) and has acquired by staking 2 contiguous claims
(totalling 8577 hectares, registration pending) located 75
kilometers northeast of La Ronge, Saskatchewan.
Sampling of known gold showings by Linda Caron, M.Sc., P.Eng.
from shear hosted quartz zones returned the following assays from
two of five known gold showings on the initial claim.
1. Davidson showing: 516.6 grams per tonne gold (15.08 ounces per ton gold)
93.4 grams per tonne gold (2.73 ounces per ton gold)
22.6 grams per tonne gold (0.66 ounces per ton gold)
2. Charlie's Chance 185.4 grams per tonne gold (5.41 ounces per ton gold)
showing: 28.5 grams per tonne gold (0.83 ounces per ton gold)
12.8 grams per tonne gold (0.37 ounces per ton gold)
The Davidson and Charlie's Chance showings are parallel shear
zones, 800 meters apart. Surface samples have returned good gold
values over widths ranging from 1.5 to 3 meters. Neither showing
has been tested by drilling. Other gold showings on the initial
claim include the Ewan showing, where samples to 10.9 grams per
tonne gold (0.32 ounces per ton gold) have been returned from
surface and where limited diamond drilling in 1987 intersected 6.5
grams per tonne gold (0.19 ounces per ton gold) over 1.2 meters and
9.4 grams per tonne gold (0.27 ounces per ton gold) over 0.6
meters.
There are known gold and base metal occurrences on the newly
staked claims. These will be described in a subsequent news
release.
The Gold Belt property is located near the southern end of the
La Ronge greenstone belt, which hosts several known gold deposits
and past-producing mines, including the Jolu, Star, Contact, Waddy,
Bingo and Komis deposits. Golden Band Resources' Bingo deposit is
located 7 kilometres northeast of Killdeer's Gold Belt property.
Golden Band Resources continues to explore their Bingo deposit,
scheduled for production in 2010, and has announced that recent
deep drilling has extended the gold bearing structure by 150
meters, to a total depth of 525 meters, illustrating that deposits
in this belt can be deep-rooted (see Golden Band news release, Sept
16, 2009).
Terms of the Gold Belt property option agreement oblige Killdeer
to pay the vendors (Michael Lederhouse and Daniel Studer) a total
of $60,000 and to issue a total of 600,000 common shares, each as
to 50%, over a 2 year period to earn a 100% interest in the
property. The vendors retain a 2% net smelter returns royalty (NSR)
on the initial and newly staked claims, which Killdeer may purchase
for a total of 2 million dollars.
The samples collected by Linda Caron which are described in this
release were grab samples collected to determine the presence or
absence of mineralization. The results should not be interpreted as
being representative of average grade of the veins or indicative of
true width. Samples were analyzed at TSL Laboratories in Saskatoon,
an ISO 17025-2005 accredited laboratory. Gold analyses were by Fire
Assay/AA finish on 50 gm samples, with subsequent metallic screen
gold assays on all samples. All other analytical results described
in this release are historic results from work by previous
operators which have not been verified by Killdeer Minerals.
Linda Caron, M.Sc., P.Eng. is the qualified person under NI
43-101 who has reviewed and approved the technical content of this
news release.
To view the Figures accompanying this press release, please
click on the following link:
http://media3.marketwire.com/docs/kmi1112.pdf
ON BEHALF OF THE BOARD OF DIRECTORS
Michael Elson, President, Chief Executive Officer and
Director
Neither the 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 news release.
Contacts: Killdeer Minerals Inc. Stan Szary Director (604)
685-6989 (604) 685-6961 (FAX) www.killdeerminerals.com
(TSXV:KMI)
Historical Stock Chart
From Aug 2024 to Sep 2024
(TSXV:KMI)
Historical Stock Chart
From Sep 2023 to Sep 2024