Kapuskasing Gold Samples Up to 11.5 G/T at Rollo - Airborne to Be Flown at Borden North
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 11, 2015) - Kapuskasing Gold Corp. (TSX VENTURE:KAP) (the "Company" or "KAP") reports that further prospecting and sampling this spring, has identified the first priority target at Rollo, sampling up to 11.5 g/t gold at the Hanson Lake gold showing, the first of 3 Quartz Feldspar Porphyries (QFPs) identified and sampled late last year. A saw-cut channel sampling program will be initiated immediately to further detail the high-grade gold zone encountered with a drill program to follow upon completion.
The Company also reports that the May program at Borden North, a continuation of last year's prospecting program, yielded several samples of anomalous gold up to 102 ppb gold, tracing the interpreted "S" fold feature over several kilometers prompting KAP to initiate the planned airborne electro magnetic survey over this mineralized zone as soon as possible in order to further define this gold target.
Garry Clark, KAP's exploration manager comments: "We are excited to be active and able to advance multiple, under-explored properties in short periods of time. We are looking forward to following up right away on the sampling at Borden North having results that are similar to Mike Tremblay's initial prospecting at Goldcorp's (previously Probe Mines) Borden Lake discovery."
Garry Clark adds, "We are also going to detail channel sample the Hanson QFP gold showing with a view to drill test this high-grade mineralization right away at Rollo. In addition to these two projects we will be working on the other gold showings on Rollo and initiating work on several of our other properties in the area. We have lots of activity planned for the next several months and beyond."
May 2015 Results Rollo
KAP Advisors Mike Tremblay and Bob Duess collected 6 grab samples at the Hanson Showing QFP during a recent visit to Rollo confirming the presence of gold with assays of 11.5 g/t and 8.75 g/t in quartz pyrite veins on the contact of the syenite porphyry. The syenite intrusive itself contains 2-3% pyrite and assayed up to 1.03 g/t gold.
May 2015 Results Borden North
At Borden North, Mike Tremblay conducted a 10-day follow-up of last fall's prospecting program on the property resulting in 76 samples being sent for assay. Sample selection was based on visual determination of gossan, sulfides and quartz veining. Using a sample level of >29 ppb gold, 6 samples were anomalous. Three samples from the gossan zone (area of 200 ppb gold sample) located prior to last fall's snow returned 102, 47 and 30 ppb gold. Using the limited historic magnetic data a magnetic high associated with the interpreted folding returned 91, 81 and 36 ppb gold. Results warrant the go ahead of the planned airborne magnetic and electromagnetic surveys to define stratigraphy and gold targets.
Further, the Company also reports that it has met with and begun discussions with First Nations in the area and expects to sign early exploration agreements in the very near term.
Kapuskasing Gold
Kapuskasing Gold has 6 gold properties located along extensions of the Destor-Porcupine or Borden Gold project. All of the properties, with the exception of Rollo, are situated within the Kapuskasing structural zones and have potential similarities to Goldcorp's Borden Gold project. 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.
