Knick Exploration (TSXV:KNX) announced that the ongoing compilation of data on the East-West property has delivered its positive results by identifying new high grade gold targets to expand the property’s West Gold Zone, and also the start to evaluating the strategy for the resumption of drilling as soon as possible.
Knick Exploration (TSXV:KNX) announced that the ongoing compilation of data on the East-West property has delivered its positive results by identifying new high grade gold targets to expand the property’s West Gold Zone, and also the start to evaluating the strategy for the resumption of drilling as soon as possible. The completed phase I of the compilation, and the integration of its 2009-11 drilling data with historical drilling data, and access to 3D modeling gives us a better understanding of the gold system’s geometry, and a series of grades-lengths and metals factor-grade scenarios that were not previously apparent.
As quoted in the press release:
The East-West property is located 8.20 km east of the Canadian Malartic Mine and 8.25 km west of the Goldex Mine (Agnico-Eagle), Quebec, Canada.
The grade pattern obtained by the compilation work confirmed the continuity of drill intervals above 3 grams of gold per tonne over a core length of more than 3 metres down to 220 metres centered on the West Zone. Most historical holes are located inside a 200 metres strike length and scattered holes confirmed the continuity for another 200 metres. The West Gold Zone is open along strike and at depth.
Best results calculated are the following:
Gold intervals are considered as historical, referenced, as compiled in NI 43-101, Up Dated, Technical Report on The East-West Property, Knick Exploration Inc., June 25, 2013 by Donald Théberge, Eng., MBA. Gold intervals spatial locations were calculated by Datac Géo-Conseil, Denis Chenarding.
Geology and Gold Mineralization Review
The integration job on the East-West property started with the understanding of the geology and gold mineralization characteristics through 180 historical holes and 71 holes drilled by Knick during the last 7 years. Based on existing plans, sections, logs, reports and data transcription the drill interval calculations gave us access to gold grade – lengths and spatial distribution; an important step to optimizing future drill program planning.
The past mineralization sampled was of quartz veins commonly hosting visible gold. The reports of the historical drill records indicates to Knick that the sampling rarely considered other geological features frequently related to gold systems in this particular area. The company has evaluated that between 15 and 50% of gold favorable core rock was sampled (Knick Dec. 2015 Press Release) inside the gold favorable rock unit. Gold intervals are included inside a 50 to 100 meters wide system of deformed and altered basalt intervals surrounded by ultramafic rocks. The whole structure is dipping 50 to 55 to the north.
The drill program planning is well advanced, and all targets of the next drilling campaign will be focused on confirming gold grade, and thickness and consistency of known gold concentrations. The aim is establishing a first NI 43-101 compliant resource before year end, as funds are available.