Kiska Continues to Expand Gold Zones at Island Mountain Prospect, Whistler Project, Alaska
TSX-V: KSK
VANCOUVER, Dec. 1, 2011 /PRNewswire/ – Kiska Metals Corporation (“Kiska” or
“the Company”) reports final drill results from the Island Mountain
prospect, Whistler Project, located 160 km northwest of Anchorage,
Alaska. Results include hole IM11-040, which averaged 0.84g/t gold
equivalent (0.53g/t gold, 3.55g/t silver and 0.13% copper) over 364
metres, including a higher grade interval that averages 1.05 g/t gold
equivalent (0.62g/t gold, 6.36g/t silver, 0.17% copper) over 141
metres. All six of the final holes reported herein returned significant
grades and widths of gold-copper mineralization, capping off a highly
successful season of drilling at Island Mountain.
Hole IM11-040 was the first hole oriented in a north-south direction
testing both geological and grade continuity. The hole intersected
breccias and consistent gold-copper grades for almost its entire
length. The other five holes were drilled on intermediate sections and
to fill in a gap on section 7,750N, thereby providing drill coverage
over the Breccia Zone on six 50-metre spaced, east-west sections.
“We are extremely pleased with the rapid progress of our drilling at
Island Mountain where we have managed to grow the mineralized body in
all dimensions and demonstrate consistently good gold and copper
grades. Our drill density will allow us to conduct a thorough
interpretation of the Breccia Zone and provide the knowledge to guide
further expansion of the zone in 2012,” stated Mark Baknes, VP
Exploration for Kiska Metals Corporation. “Our understanding of the
Breccia Zone mineralization has enabled us to refine our exploration
model. With this model and the success of our reconnaissance drill
program we can see multiple high priority targets that we are anxious
to drill test.”
Section 7,750N Hole IM11-036
IM11-036 was located 100 metres east of and on the same section as
IM11-013, which returned a 252.0 metre interval averaging 0.71g/t gold,
2.6g/t silver and 0.15% copper. Hole IM11-036 returned a 74.0 metre
interval averaging 0.98g/t gold, 0.51g/t silver and 0.03% copper on the
eastern margin of the main breccia body. The drill results on section
7,750N now define a zone of consistent mineralization that measures
approximately 300 metres east-west to a depth of 500 metres below
surface. Plan maps and cross sections can be found at http://www.kiskametals.com/s/Whistler.asp?ReportID=405126
Hole IM11-036 (Section 6,847,750 N, “7,750N”)
_________________________________________________________
| | | To |Interval| Au | Ag | Cu |Au Eq*|
|Hole |From (m)| (m) | (m) |(g/t)|(g/t)|(%) |(g/t) |
|_________|________|_____|________|_____|_____|____|______|
|IM11-036 | 45.0 |236.8| 191.81 |0.47 |1.16 |0.04| 0.57 |
|_________|________|_____|________|_____|_____|____|______|
|including| 45.0 |119.0| 74.0 |0.98 |0.51 |0.03| 1.05 |
|_________|________|_____|________|_____|_____|____|______|
*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
Section 7,700N Hole IM11-038, 041
IM11-038 and IM11-041 were -45 and -60 degree inclined holes, collared
approximately 100 metres west of holes IM10-010 and 011. These holes
were designed to test down dip continuity of breccia and gold bearing
disseminated/vein pyrrhotite as well as fill in the gap between the
strong mineralization defined on sections 7,650N and 7,750N. Hole
IM11-038 intersected a strongly developed breccia zone 182 metres in
length that averaged 0.50g/t gold, 2.94g/t silver and 0.14% copper
(0.84g/t gold equivalent) including a higher grade, 124 metre long
interval averaging 0.55g/t gold, 3.34g/t silver and 0.17% copper
(0.95g/t gold equivalent). The lack of strong breccia mineralization in
the more steeply inclined hole IM11-041 confirms that the south contact
of the breccia has a steep northerly dip. This hole did encounter
strong alteration and vein stockwork containing a broad zone of low
grade gold-copper mineralization.
Hole IM11-038, 041 (Section 6,847,700 N, “7,700N”)
__________________________________________________________
| | | To |Interval| Au | Ag | Cu |Au Eq*|
|Hole |From (m)| (m) | (m) |(g/t)|(g/t)|(%) |(g/t) |
|_________|________|______|________|_____|_____|____|______|
|IM11-038 | 45.0 |227.0 | 182.0 |0.50 |2.94 |0.14| 0.84 |
|_________|________|______|________|_____|_____|____|______|
|including| 103.0 |227.0 | 124.0 |0.55 |3.34 |0.17| 0.95 |
|_________|________|______|________|_____|_____|____|______|
| | 357.0 |367.91| 10.9 |0.30 |0.25 |0.01| 0.32 |
|_________|________|______|________|_____|_____|____|______|
|IM11-041 | 48.0 |297.0 | 249.0 |0.18 |1.59 |0.06| 0.33 |
|_________|________|______|________|_____|_____|____|______|
|Including| 131.0 |170.0 | 39.0 |0.15 |2.62 |0.10| 0.40 |
|_________|________|______|________|_____|_____|____|______|
| and| 232.5 |287.5 | 55.0 |0.30 |1.47 |0.05| 0.42 |
|_________|________|______|________|_____|_____|____|______|
*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
Section 7,800N Hole IM11-037, 039
Holes IM11-037 and IM11-039 were collared 100 metres apart to test for
continuity of mineralization between the gold-copper zones defined on
sections 7,750N and 7,850N. The most easterly hole, IM11-037,
intersected breccia mineralization that returned 79 metres of 1.00g/t
gold, 0.28g/t silver and 0.02% copper and deeper intervals of low grade
disseminated/vein pyrrhotite-associated gold mineralization that
remains open to the east. Hole IM11-039Â drilled beneath hole IM11-037
intersecting broad zones of gold-copper breccia mineralization
including 157 metres averaging 0.59g/t gold, 2.80g/t silver and 0.16%
copper. The copper zone intersected in IM11-039 likely represents the
continuation of copper-gold rich mineralization intersected on section
7,750N, 50 metres to the south. Follow up to hole IM11-039 will be a
priority in 2012 since mineralization remains open down-dip and to the
east.
Hole IM11-037, 039 (Section 6,847,800 N, “7,800N”)
__________________________________________________________
| | | To |Interval| Au | Ag | Cu |Au Eq*|
|Hole |From (m)| (m) | (m) |(g/t)|(g/t)|(%) |(g/t) |
|_________|________|______|________|_____|_____|____|______|
|IM11-037 | 72.3 |271.0 | 198.7 |0.53 |0.40 |0.03| 0.59 |
|_________|________|______|________|_____|_____|____|______|
|including| 105.0 |184.0 | 79.0 |1.00 |0.28 |0.02| 1.04 |
|_________|________|______|________|_____|_____|____|______|
| | 312.0 |351.11| 39.1 |0.28 |0.25 |0.02| 0.33 |
|_________|________|______|________|_____|_____|____|______|
|IM11-039 | 56.0 |387.71| 331.7 |0.57 |1.62 |0.09| 0.78 |
|_________|________|______|________|_____|_____|____|______|
|Including| 56.0 |213.0 | 157.0 |0.59 |2.80 |0.16| 0.96 |
|_________|________|______|________|_____|_____|____|______|
| and| 256.6 |295.0 | 38.4 |1.42 |0.70 |0.04| 1.51 |
|_________|________|______|________|_____|_____|____|______|
*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
Kiska has concluded the 2011 program at Island Mountain. All results
have now been released from the 26 holes (9,537 metres) completed this
year. The final three holes from Muddy Creek will be released before
year end.
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. Rock
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: “IslandMountainPlanMap.pdf”. PDF available at: http://stream1.newswire.ca/media/2011/12/01/20111201_C2889_DOC_EN_7699.pdf
PDF with caption: “IslandMtnSection7750N.pdf”. PDF available at: http://stream1.newswire.ca/media/2011/12/01/20111201_C2889_DOC_EN_7700.pdf
PDF with caption: “IslandMtnSection7700N.pdf”. PDF available at: http://stream1.newswire.ca/media/2011/12/01/20111201_C2889_DOC_EN_7701.pdf
PDF with caption: “IslandMtnSection7800N.pdf”. PDF available at: http://stream1.newswire.ca/media/2011/12/01/20111201_C2889_DOC_EN_7702.pdf
