Kingsman Resources Inc.: Drilling to Commence on Luxor Moly Property
09 October 2010 - 10:47AM
Marketwired
Kingsman Resources Inc. (TSX VENTURE: KSM) is pleased to announce
the start of a diamond drill program on their Luxor Molybdenum
Project, located 27 kilometers northeast of Barriere, British
Columbia. The diamond drill program should begin on or about
October 15th. R.J. Beaupre Drilling Ltd. will carry out the
drilling.
An initial program of approximately 1000 metres of NQ core is
planned with possible expansion to 2000 metres. This drill program
will test recently exposed molybdenum bearing altered granitic
outcrops discovered during trail construction. Molybdenite was
found to occur as fine disseminated grains within the intrusive
rocks and importantly within quartz veins with pyrite. Coarse
aggregates of molybdenite are seen both as selvages to and within
quartz veins. Selected samples of quartz vein material returned up
to 2.59% Mo. These exposures occur within a cohesive soil
geochemical anomaly measuring approximately 1 kilometre long by 450
metres wide.
In November, 2007, Kingsman undertook a small diamond drill
program on the Luxor property. Four short holes were completed.
Significant results included 3 metres of 925ppm Mo (.0925% Mo), 6
metres of 420ppm (0.042% Mo) in LX07-0 1.3 metres of 676ppm
Mo(0.0676% Mo) and 6 metres of 301ppm Mo (0.0301% Mo) in LX07-02.
These holes were drilled approximately 600 meters north of the
current planned program.
Recently Kingsman commissioned professional prospectors to
investigate the area in and around the newly discovered mineralized
road outcrops. Molybdenite-bearing outcrops were discovered over an
area of approximately 1.3 kilometres by 0.9 kilometres. 25 rocks
samples were collected. Molybdenite was found to occur in quartz
veinlets, quartz stockworks, fractures, rosettes and disseminations
within altered granitic hosts.
-----------------------------------------------------------------------
Mo Mo Mo Mo
Tag # ppm % Tag # ppm %
-------------------------------- --------------------------------------
-------------------------------- --------------------------------------
WP5 212.00 WBM10 346.60
WP7 LUXOR 1011.00 0.101 WBM11 822.20 0.081
WP13 LUXOR 610.20 0.059 WBM16 1833.00 0.185
WP36 LUXOR 9.34 WBM17 1036.00 0.103
WP37 43.54 WBM18 464.10
WP38 LUXOR 8.92 WBMK1 greater than 0.210
2000
WP45 113.40 LXSK1 A 1463.00 0.148
WBM1 117.60 LXSK1 B greater than 0.221
2000
WBM2 greater 0.258 LXSK2 927.00 0.091
than 2000
WBM3 1259.00 0.128 LXSK3 A greater than 0.278
2000
WBM5 618.10 0.063 LXKS3 B 1053.00 0.109
WBM6 307.50 LXSK4 827.00 0.083
WBM8 200.10
-----------------------------------------------------------------------
Significant values including 0.278% Mo and 0.258% Mo were
obtained from selected samples. Prospecting results confirm and
enhance the molybdenite occurrences discovered during trail
construction. Exploration evidence at Luxor now points to a
mineralizing system that is 2.2km east-west by 1.5km north-south.
This is supported by rock geochemistry, biogeochemistry, stream
sediment geochemistry, and drilling.
Bernhardt Augsten, P.Geo., a qualified person, has reviewed the
technical information in this news release and will be managing the
proposed work program.
About Kingsman Resources Inc.
Kingsman Resources Inc. is an exploration and development
company with a focus on gold, silver, molybdenum, tellurium and
copper. Kingsman Resources trades on the TSX Venture Exchange under
the symbol "KSM". For further information on Kingsman Resources
Inc, visit the corporate website at
http://www.kingsmanresources.com.
On Behalf of the Board of Directors
KINGSMAN RESOURCES INC.
Robert McLaughlin, 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 release."
Contacts: Kingsman Resources Inc. Ted Drummond (604) 926-4062
www.kingsmanresources.com
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