Kapuskasing Gold Commences Work Program at Rollo Gold Property, Ontario
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sep 16, 2014) - Kapuskasing Gold Corp. (TSX VENTURE:KAP) (the "Company" or "Kapuskasing") is pleased to announce that it has commenced prospecting and mapping activities on its Rollo Gold Property. The intent of the prospecting and mapping program will focus on the areas surrounding the historic Hanson Lake and Coppell Gold Occurrences (see July 8, 2014 news release) and will examine large-scale zones of prospective alteration associated with quartz feldspar porphyries, identified by the Geological Survey of Canada. The latter setting is akin to numerous productive gold systems in the nearby Timmins and Kirkland Lake gold camps. Plans are to complete this work prior to snowfall. All samples will be sent for assay at the end of the program and results will be announced when received.
The Rollo property is situated along a projected extension of the Destor-Porcupine fault zone, which hosts several multi-million-ounce gold producers in the nearby Timmins camp, and sits between IAMGOLD's Cote Lake gold deposit and Probe Mines' Borden Gold project.
Ontario Government documents from 1948 and 1950 indicate the occurrence of visible gold mineralization at Hanson and Coppell Lakes. No record can be found of drill testing of these occurrences. The two discoveries are approximately 4 kilometers apart and appear to be located along a corridor of deformation cutting a regional scale fold.
Kapuskasing Gold controls 6 gold properties located along extensions of the Destor-Porcupine, Borden Lake and Kapuskasing structural zones. The Company's 6 properties surround Probe's discovery to the north, east, south and west. A detailed map and property descriptions can be viewed on the Company's website: www.kapgold.com.
On behalf of the Board of Directors of Kapuskasing Gold Corp.,
Dean Nawata, President & CEO, Director
Qualified Person
Mr. Garry Clark P.Geo, the Exploration Manager and a director of the Company, a Qualified Person ("QP") as defined by National Instrument 43-101, has reviewed the technical content of this release.
Neither 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.
Forward-Looking Statements and Cautionary Notes
Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward-looking statements contained in this document are based on certain key expectations and assumptions made by Kapuskasing, including, without limitation, expectations and assumptions respecting the outlook of exploration activity on the Borden and Rollo properties and the impact on Kapuskasing's business and management assessment of future operations. Although the forward-looking information contained in this press release is based upon what Kapuskasing's management believes to be reasonable assumptions, the Company cannot assure investors that actual results will be consistent with such information. Forward-looking information reflects current expectations of management regarding future events and operating performance as of the date of this press release.
It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Risks and uncertainties include, but are not limited to, economic, competitive, governmental, environmental and technological factors that may affect the Company's operations, markets, products and prices. Readers should refer to the risk disclosures outlined in the Company's Management Discussion and Analysis of its audited financial statements filed with the British Columbia Securities Commission.
The forward-looking information contained herein is expressly qualified in its entirety by this cautionary statement. Forward-looking information reflects management's current beliefs and is based on information currently available to the Company. The forward-looking information is made as of the date of this press release and Kapuskasing assumes no obligation to update or revise such information to reflect new events or circumstances, except as may be required by applicable law.
This news release contains information with respect to adjacent or similar mineral properties in respect of which the Company has no interest or rights to explore or mine. Readers are cautioned that the Company has no interest in or right to acquire any interest in any such properties, and that mineral deposits on adjacent or similar properties are not indicative of mineral deposits on the Company's properties.
