Kiska Intersects 100 metres of 1.37 g/t gold and 54.2 g/t silver (2.29 g/t gold-equivalent) at Island Mountain Prospect, Whistler Project, Alaska
VANCOUVER, Nov. 8, 2011 /PRNewswire/ – Kiska Metals Corporation (“Kiska” or
“the Company”) reports additional drill results from the Island
Mountain prospect, Whistler Project, located 160 km northwest of
Anchorage, Alaska. Results include hole IM11-034 in the Breccia Zone,
which averaged 2.29 g/t gold equivalent (1.37 g/t gold, 54.19 g/t
silver and 0.04% copper) over 100 metres within a 364.5 metre interval
that averaged 0.84 g/t gold equivalent (0.53 g/t gold, 15.3 g/t silver
and 0.03% copper). Additionally, broadly spaced exploration holes up
to 400 metres north of hole IM11-034 have revealed new zones of
mineralization, including a 73.9 metre interval in hole IM11-030 that
returned 0.92 g/t gold equivalent (0.72 g/t gold, 2.24 g/t silver and
0.09% copper). Drilling at Island Mountain has now successfully
outlined gold and gold-copper mineralization over a 300 by 300 metre
area, to a depth of 500 metres. Reconnaissance drilling north of the
Breccia Zone indicates potential for further expansion or the
definition of new zones of gold mineralization.
The results of hole IM11-034 are encouraging in that they indicate
increasing width and grade of the zone as compared to the equivalent
breccia intersected 100 metres to the west in hole IM11-026 (127 metres
of 0.76 g/t gold equivalent – previously released). The strongly
mineralized holes on section 7850N (IM11-026, 034) are the most
northerly in the area of concentrated drilling leaving a large area
open to expansion. Results indicate a decrease in copper values to
north and a corresponding increase in gold, and locally, silver.
“These latest results are giving us confidence that we have a coherent
zone of mineralization that we can expand with further drilling. Our
reconnaissance holes to the north have also returned significant
results from different styles of mineralization that underscore that
the system at Island Mountain is large, robust, and dynamic but most
importantly, capable of producing significant gold grades.” stated
Jason Weber, CEO of Kiska Metals.
Breccia Zone “Step out” Drilling
IM11-034 was collared approximately 100 metres west of and beneath hole
IM11-026 on section 7,850N. The hole ended in mineralization, with the
entire interval below 138 metres averaging 0.84 g/t gold equivalent
(0.53 g/t gold, 15.3 g/t silver, 0.03% copper) over 364.5 metres.
Mineralization occurs in an upper breccia-associated interval that
averaged 2.29 g/t gold equivalent over 100 metres and a lower zone of
disseminated and vein pyrrhotite mineralization that averaged 0.43 g/t
gold equivalent over 72 metres. A single 1.5 metre sample of a
well-developed fault zone in the breccia section returned 3,530 g/t
silver in association with 1.68 g/t gold and 0.85% copper. The impact
of this high silver bearing sample is significant in the calculation of
the weighted averages. However, as this is an exploration hole and it
is believed that the sample does represent a high grade structure, the
silver results have not been capped. Plan maps and cross sections can
be found at the Company website, http://www.kiskametals.com/s/Whistler.asp?ReportID=405126.
Summary of Breccia Zone Mineralized Drill Intercepts
Au
From To Interval Au Ag Cu Eq*
Hole (m) (m) (m) (g/t) (g/t) (%) (g/t)
IM11-034 138.1 502.61 364.51 0.53 15.30 0.03 0.84
Including 213.0 313.0 100.0 1.37 54.19 0.04 2.29
Including 370.0 442.0 72.0 0.37 0.40 0.03 0.43
*Gold equivalent calculations do not take into account metallurgical
recoveries and are based on in ground metal using metal prices of $990
per ounce gold, $15.40 per ounce silver and $2.91 per pound copper.
(1)End of Hole – hole ended in mineralization
Reconnaissance Holes North of Breccia Zone
Seven exploration holes were drilled from locations 200 to 400 metres
north of the Breccia Zone sections. This reconnaissance drilling was
successful in identifying gold mineralization, including a new style of
mineralization characterized by high pyrite and silver values that
yielded a 73.9 metre interval averaging 0.92 g/t gold equivalent (0.72
g/t gold, 2.24 g/t silver and 0.09% copper) at the bottom of IM11-030,
within a broad zone of mineralization averaging 0.49 g/t gold
equivalent over the last 167.9 metres of the hole. Near the top of the
hole, a shallow 43.0 metre-long interval of breccia mineralization
averaged 0.40 g/t gold equivalent over 43.0 metres. Hole IM11-28, was
drilled from the same collar location, but at an azimuth of 060
degrees, versus 090 degrees in IM11-030. This hole intersected the same
zone near surface, returning 0.40 g/t gold equivalent over 45.6 metres.
IM11-029 was collared approximately 300 metres to the west of holes 028
and 030, intersecting intrusive breccia with strong sulphide
concentrations. A 6.7 metre interval of breccia mineralization at the
bottom of this hole averaged 3.35 g/t gold.
Holes IM11-033 and 035 were drilled from the same location 400 metres
north of the Breccia Zone at inclinations of -45 and -55 degrees and
were designed to test the Falcon’s Nest breccia. IM11-033 intersected a
55.2 metre interval that averaged 0.51 g/t gold equivalent while 035
returned the same gold grades over a 41.0 metre width. Holes IM11-031
and 032 in the same area intersected largely unmineralized intrusive
breccias with sporadic to weak gold values.
Summary of Mineralized Reconnaissance Drill Intercepts
Au
From To Interval Au Ag Cu Eq*
Hole (m) (m) (m) (g/t) (g/t) (%) (g/t)
IM11-028 12.0 57.6 45.6 0.27 0.84 0.05 0.38
IM11-029 317.3 324.0 6.7 3.35 1.07 0.01 3.39
IM11-030 20.0 63.0 43.0 0.32 1.12 0.03 0.40
And 333.0 500.91 167.91 0.37 1.32 0.05 0.49
Including 364.1 438.0 73.9 0.72 2.24 0.09 0.92
IM11-032 246.0 300.0 54.0 0.29 0.28 0.01 0.33
IM11-033 2.8 58.0 55.2 0.41 1.54 0.03 0.51
Including 2.8 42.0 39.2 0.56 1.18 0.02 0.62
IM11-035 3.0 44.0 41.0 0.44 2.19 0.03 0.53
*Gold equivalent calculations do not take into account metallurgical
recoveries and are based on in ground metal using metal prices of $990
per ounce gold, $15.40 per ounce silver and $2.91 per pound copper.
(1)End of Hole – hole ended in mineralization
East Slope Drill Holes
Hole IM11-027 was collared approximately 200 metres south of section
7,600N on the east facing slope of Island Mountain to test for the
extensions to the pyrrhotite-associated gold zones defined on sections
7,600N and north. This hole returned a 32 metre intercept of 0.36 g/t
gold equivalent.
Summary of East Slope Mineralized Drill Intercepts
Au
From To Interval Au Ag Cu Eq*
Hole (m) (m) (m) (g/t) (g/t) (%) (g/t)
IM11-027 197.0 229.0 32.0 0.32 0.25 0.02 0.36
*Gold equivalent calculations do not take into account metallurgical
recoveries and are based on in ground metal using metal prices of $990
per ounce gold, $15.40 per ounce silver and $2.91 per pound copper.
Kiska has now concluded drilling at Island Mountain for the 2011 season
with the onset of winter conditions, having drilled a total of 9537
metres in 26 holes. In addition to pending results from six holes at
Island Mountain, final assays for targets in the Whistler Orbit
(Raintree West, North and South targets and the Rainmaker target) and
Muddy Creek are near completion and will be released as soon as
possible.
Qualified Person Statement
The content of this release has been reviewed by Mr. Mark Baknes, M.Sc.,
P. Geo., VP Exploration of Kiska Metals. Mr. Baknes is a Qualified
Person as defined under the terms of National Instrument 43-101. Core
samples were prepared for assay at ALS Chemex Labs in Fairbanks,
Alaska, and analyzed for multiple elements at ALS Chemex Labs in North
Vancouver, British Columbia.
About Kiska Metals Corporation
Kiska Metals Corporation is a mineral exploration company focused on
advancing the Whistler property, Alaska, a district-scale project with
excellent exploration potential which includes the Whistler Deposit (a
2.25 M oz gold-equivalent indicated resource of 79.2 million tonnes
averaging 0.51 g/t gold, 1.97 g/t silver and 0.17% copper and a 3.35 M
oz. gold equivalent inferred resource of 145.8 million tonnes averaging
0.40 g/t gold, 1.75 g/t silver and 0.15% copper). Kiska has renowned
technical expertise and a quality exploration portfolio with numerous
early stage exploration opportunities around the world, some held in
partnership with a selection of the world’s largest and most successful
gold and base metal producers.
On behalf of Kiska Metals Corporation
“Jason Weber”
Jason Weber, P.Geo., President & CEO
CAUTIONARY STATEMENT: No stock exchange, securities commission or other
regulatory authority has approved or disapproved the information
contained herein. This News Release includes certain “forward-looking
statements”. Other than statements of historical fact, all statements
included in this release, including, without limitation, statements
regarding future plans and objectives of Kiska Metals Corporation, are
forward-looking statements that involve various risks and
uncertainties. There can be no assurance that such statements will
prove to be accurate, and actual results and future events could differ
materially from those anticipated in such statements. Important factors
that could cause actual results to differ materially from Kiska’s
expectations are the risks detailed herein and from time to time in the
filings made by Kiska Metals Corporation with securities regulators.
Those filings can be found on the Internet at http://www.sedar.com and http://www.sec.gov/edgar
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SOURCE Kiska Metals Corporation
PDF with caption: “Island Mountain Plan Map”. PDF available at: http://stream1.newswire.ca/media/2011/11/08/20111108_C3547_DOC_EN_6231.pdf
PDF with caption: “Island Mountain Section 8250N”. PDF available at: http://stream1.newswire.ca/media/2011/11/08/20111108_C3547_DOC_EN_6232.pdf
PDF with caption: “Island Mountain Section 8050N
“. PDF available at: http://stream1.newswire.ca/media/2011/11/08/20111108_C3547_DOC_EN_6233.pdf
PDF with caption: “Island Mountain Section 7850N”. PDF available at: http://stream1.newswire.ca/media/2011/11/08/20111108_C3547_DOC_EN_6234.pdf
