Gold

TSXV:KAP

Kapuskasing Gold Corp. (TSXV:KAP) announced that it has signed a non-binding letter of intent to acquire a 100% interest in the West Keefer Property near Timmins, Ontario.

Kapuskasing Gold Corp. (TSXV:KAP) announced that it has signed a non-binding letter of intent to acquire a 100% interest in the West Keefer Property near Timmins, Ontario. The West Keefer Property is drill ready and consists of 10 claims covering 1,250 hectares in the heart of the prolific Destor-Porcupine Fault Zone, 40 kilometers west of Timmins, Ontario. The Company is planning to apply for permits and carry out a 1000 meter diamond drill program as soon as possible.
As quoted in the press release:

The Project is underlain by mafic and felsic metavolcanics, metasediments and intruded by granitic porphyries in a similar geological setting to Lakeshore Gold’s Timmins West Mine, located approximately 15 kilometers to the east along the Destor-Porcupine Fault Zone (“DPFZ”).
The West Keefer Project has seen minimal exploration over the years with no diamond drilling being conducted on the current claim configuration. Of particular interest, the West Keefer Property hosts several untested I.P. anomalies of which are overburden covered. Each of these anomalies are characterised by moderate to high chargeability coincidental with areas of high resistivity. The Company believes that the I.P. signatures of these anomalies may represent mineralized porphyries or felsic intrusive units. Situated proximal and to the north of the interpreted DPFZ, potential porphyry units represent a favourable geological environment in the Timmins and Timmins West Camps for significant gold mineralization.
Immediately west of the Property (approximately 1.2 kilometers) are the Bartleman Trenches which are host to numerous high grade quartz veins with reported historical values including 5.1 g/t gold over 0.37 meters to 25.8 g/t gold and 68.4 g/t silver 0.50 meters (Ontario Ministry of Northern Development and Mines Mineral Deposit Inventory). Approximately 1.0 kilometer east of the West Keefer Property boundary is the Mosher Lake Occurrence which has historical assay values up to 35.1 g/t gold (grab sample) and up to 7.73 g/t gold over 0.60 meters from limited diamond drilling (unknown true width) (Ontario Ministry of Northern Development and Mines Mineral Deposit Inventory).

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