Kaminak Gold Begins 2016 Exploration Program at Coffee Project

Gold Investing

Kaminak Gold (TSXV:KAM) announced the start of its Phase 1 2016 exploration program at the Coffee Gold project. As quoted in the press release: Further to the May 5th, 2016 Kaminak news release, the program is designed to test resource expansion potential proximal to the proposed mine site as well as to further investigate priority …

Kaminak Gold (TSXV:KAM) announced the start of its Phase 1 2016 exploration program at the Coffee Gold project.
As quoted in the press release:

Further to the May 5th, 2016 Kaminak news release, the program is designed to test resource expansion potential proximal to the proposed mine site as well as to further investigate priority gold-in-soil anomalies identified from previous exploration campaigns regionally throughout the landholdings. The Phase I program will include soil sampling, trenching and drilling under a budget of approximately $2.6 million.
Priority targets for Phase I include:

  • Follow-up expansion drilling at Supremo T3 and Latte, two high-yielding mineralized structures that jointly contribute significant gold ounces in the current mine plan and remain open along strike
  • Systematic testing of early stage drill discoveries and over 20km of linear trending, gold-in-soil anomalies proximal to the proposed Coffee Gold Project mine plan
  • Priority gold-in-soil anomalies tested with trenching and/or drilling

A Phase II, approximately $2.4 million exploration program, is planned for later in the summer, contingent upon results of the Phase I program.
The 2016 Phase I program will include the use of a small, track mounted “Grasshopper” drilling rig from Northspan Explorations Ltd. to undertake a shallow, scout drilling campaign consisting of angled, 50 m deep holes along strike from known deposits such as Supremo T3 and Latte where gold-in-soil sampling has proven ineffective, due to permafrost and/or thick layers of colluvium.
The Grasshopper Reverse Circulation (RC) drilling is anticipated to have a number of advantages:

  • Effective and rapid testing of potential near surface oxide mineralization at a cost basis of less than $150 per metre ‘all-in’ cost (including consumables, assaying, wages, camp and travel)
  • Lighter platform, requiring less pad clearing and reducing environmental impact
  • Flexibility to drill deeper as required
  • RC samples adequate for resource estimation

Click here for the full press release.

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