Knick Acquires Ground by Staking at Triple Lake Gold and VMS Property Area
Val-d'Or, Quebec / TheNewswire / September 13, 2016, - Knick Exploration Inc. (TSX-V: KNX) is pleased to report that it has acquired 2 claims totaling 20 claim units covering approximately 320 hectares; by staking in the Triple Lake Gold and VMS property area. The property is situated in the Timmins mining camp, Ontario.
The claims were acquired to reconsolidate the contiguity of the property as one continuous claim block and cover ground along strike of that with known favourable geology for gold mineralization. The favourable geology includes a previously reported grab sample which assayed 117g/t gold (Knick press May 1, 2012).
The staking also links two areas with VMS potential as two airborne anomalies located by a MEGATEM II SUVEY (data release April 2007). The target areas are situated on the south part of the Triple Lake property. They are referred to as CF-1 and CF-2. Limited drilling (six holes) was performed by Richmond Minerals in 2008 in the southern part of the property. Drill hole RMD-8-02 returned a zone of polymetallic mineralization consisting of 1.41% copper, 9.3g/t silver, 0.11% zinc and 249ppb gold over 1.22m at 15m down hole. In the same hole, at 91.34m a sample returned 254.3g/t silver over 0.31m.
Historically, circa 1932 a 55 foot shaft was sunk on one vein in the north part of the property. The operator, Triple Lake Porcupine Gold Mines Ltd, shipped 155 tons of ore that returned them $2738.00 (1932 gold was $20.67/ounce). This is equivalent to a grade of 0.85oz per ton gold and recovery of 132oz of gold. Also in this area of the property several veins were reported by A. Hubert in 1959 giving values up to 2.0 oz/ton gold.
See maps on the Company Website under Triple Lake Property.
Click Image To View Full Size
Tau (z-coil) Map indicating the CF-1 and CF-2 anomalies. The map is from data collected by the April 2007 MEGATEM II, Bartlett Dome, airborne survey. The survey was performed by Fugro Geophysics for the Ontario Government.
Grab sample results are not necessarily indicative of a properties potential.
Rock samples were delivered to Expert Laboratory in Rouyn-Noranda, Quebec for analysis.
Fire assay and metallic sieve methods were implemented for analysis as deemed warranted.
Historical press releases and a NI 43-101 Report on the Triple Lake Property are available on Knick's website at www.knick.ca.
Gordon N. Henriksen, P.Geo., Vice President of Knick Exploration, is the Company's qualified person as defined by National Instrument 43-101. He has reviewed and approved the contents of this press release.
We seek Safe Harbour.
Forward-Looking Statements
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
This Press Release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties.
FOR MORE INFORMATION, CONTACT:
Jacques Brunelle Gordon N. Henriksen
President & CEO Vice President
Knick Exploration Knick Exploration
536, 3rd Avenue 536, 3rd Avenue
Val-d'Or, Quebec Val-d'Or, Quebec
J9P 1S4 J9P 1S4
Office Office
819-874-5252 819-874-5252
Cell Cell
819-856-1387 819-210-1406
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