Business
Kingsman Resources Inc. Commences Drilling at Snowshoe Property
Kingsman Resources Inc. Commences Drilling at Snowshoe Property.
About this update from Contagious Gaming Inc.
[{"type":"text","content":"\n\n\n\nVANCOUVER, Dec. 14 /CNW/ - Kingsman Resources Inc. (TSXv: KSM)\n(\"Kingsman\") has begun a winter diamond drill program on the company's\nSnowshoe property. Drilling will test electromagnetic and magnetic anomalies\nresulting from last year's helicopter-borne survey by Aeroquest Ltd.\n\n\nSeveral AeroTEM II conductors were identified by the Aeroquest survey.\nAll of these conductors are new targets in unexplored parts of the property\nwith minimal or no outcrop. One of the anomalies is situated only one\nkilometre west of the Phoenix open pit mine, from which over one million\nounces of gold and 540 million pounds of copper were historically produced. A\nsecond AeroTEM II anomaly is located 2.1 kilometres west of the Phoenix pit.\nBoth of the conductors exceed 200 metres in strike length, and trend\nnorthward, parallel to the trend of the Phoenix orebody. Both these targets\nwill be drill tested. Several other electromagnetic anomalies in the southern\npart of the property will also be drilled.\n\n\nThe airborne survey was also successful in identifying two linear mag-low\nfeatures in a similarly untested part of the property. Numerous small, but\nhigh-grade, quartz veins occur nearby, none of which have been the subject of\nany recent exploration. One of these nearby veins, the EPU vein, had\nhistorical production of 571 tonnes at an average grade of 78.1 grams per\ntonne Au (2.3 ounces per ton) and 402 g/t Ag (11.7 ounces per ton Ag). A\nsecond nearby vein, the Bay vein has past-production of 447 tonnes at a grade\nof 38.0 g/t Au (1.1 ounces per ton Au) and 32.4 g/t Ag (0.95 ounce per ton\nAg). The presence of Au-Ag tellurides in these veins and an abundance of\nEocene dikes, suggest that the mag-low anomalies could be related to\nalteration along Eocene structures. The mag-low targets both exceed 600 metres\nin strike length, and the eastern anomaly continues on-strike to the southeast\nfor over 2.5 kilometres. These targets will also be drill tested.\n\n\nApproximately 3000 meters of drilling in 17 holes is planned. Drilling is\nbeing done by Beaupre Diamond Drilling of Princeton, B.C. Independent\nconsulting geologist Linda Caron, M.Sc, P.Eng., is the qualified person\nresponsible for the drill program.\n\n\nAbout Kingsman Resources Inc.\n\n\n-----------------------------\n\n\nKingsman Resources Inc. is an explorati...