VANCOUVER, BC / ACCESSWIRE / April 9, 2021 / Kingman Minerals Ltd. ('Kingman' or the 'Company') (TSXV:KGS)(FSE:47A1) is pleased to announce the receipt of assays for borehole MH-04 which completed at a depth of 882 ft (268.9 m) and an angle of -70 degrees to horizontal during its Phase I Drilling Program at the Company's flagship Mohave Gold Project located near Kingman, Arizona, USA. The Phase I Drilling Program consisted of five confirmation drill holes to verify both the nature and grades of historic mineralization and mining performed at the previously producing Rosebud Mine.
Borehole MH-04 intersected a broader halo of mineralization compared to other boreholes which was focused within a brecciated and sulfide-rich diabase-hosted zone from 377 - 383 feet (114.9 - 116.7 m). Results within this 6-foot (1.8-meter) interval, which had a true width of 1.25 feet, showed an average grade of 6.76 g/t Au and 26.3 g/t Ag with several highlight intervals including overlimit assays of 20.3 g/t Au and 36.4 g/t Ag from 379-380 ft (115.5-115.8 m) and 10.1 g/t Au with 34.7 g/t Ag from 380-381 ft (115.8-116.1 m) which focused within the sulfide breccias of very little iron oxidation suggesting that the sulfides are likely carrying the predominant gold within the mineralogy.
'The extent of alteration, total length of intercept, abundant amounts of sulfides, and concurrent gold and silver grades in and around these highlight intervals are intriguing as they have now been intersected and encountered in several holes with similar results,' commented Brad Peek, M.Sc. CPG and Qualified Person for the Mohave Project.
'The Phase I Drilling Program confirmation and exploration drilling continues to exceed the expectations of Kingman Minerals Ltd. and crew with assay-proof of gold and silver grades coupled with intriguing geological observations suggestive of greater ore-deposit bearing. These intersected sulfide breccias and conspicuous alteration signatures highlight the considerable potential for further delineation and discovery on the property,' commented Christopher Seligman, B.Sc., MAusIMM CP(Geo), Senior Geologist with Dahrouge Geological Consulting USA Ltd. of Denver, Colorado and Qualified Person as defined by National Instrument 43-101 who supervised technical activities during the Phase I Drilling Program.
Samples were sent to Skyline Assayers & Laboratories located in Tucson, Arizona on a rush basis and for gold and silver analysis which were completed using Skyline's FA-1 method for gold (Fire Assay- AA (Geochem) 5-5,000 ppb, 30g, with gravimetric finish for over-limits) and FA-8 for silver (Aqua Regia/AA (Geochem)).
The technical information contained in this news release has been reviewed and approved by Brad Peek., M.Sc., CPG, who is a Qualified Person with respect to Kingman Minerals Ltd. and the Mohave Project as defined under National Instrument 43-101.
Kingman Minerals Ltd. is currently engaged in the business of precious metal mineral exploration for the purpose of acquiring and advancing non grass roots mineral properties located in mining friendly jurisdictions of North America.
The Mohave Project (the 'Project') is located in the Music Mountains in Mohave County, Arizona and is comprised of 71 lode claims which are inclusive of the past producing Rosebud Mine (the 'Rosebud'). High grade gold and silver veins were discovered in the area in the 1880's and were mined mainly in the late 20's and 30's. Underground development on the Rosebud property included a 400-foot shaft and approximately 2,500 feet of drifts, raises and crosscuts.
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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. This news release may contain forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes statements regarding, among other things, the completion transactions completed in the Agreement. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, regulatory approval processes. Although Kingman believes that the assumptions used in preparing the forward-looking information in this news release are reasonable, including that all necessary regulatory approvals will be obtained in a timely manner, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Kingman disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable securities laws.
SOURCE: Kingman Minerals Ltd.
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