Business
Kestrel Gold Inc. Announces Exploration Plans for the 2018 Exploration Season and Corporate Developments
VANCOUVER, British Columbia, May 15, 2018 (GLOBE NEWSWIRE) -- Kestrel Gold Inc. (“Kestrel”) has recently made the 2018 option payments, has applied for Yukon Mi
About this update from Kestrel Gold Inc.
[{"type":"text","content":" VANCOUVER, British Columbia, May 15, 2018 (GLOBE NEWSWIRE) -- Kestrel Gold Inc. (“Kestrel”) has recently made the 2018 option payments, has applied for Yukon Mining Land Use permits and is in the process of finalizing 2018 exploration plans for its projects. Option payments for the Val-Jual, Ten Mile, Clear Creek and Dease Porphyry projects have been made to the property vendor Bernie Kreft. Kestrel will not be continuing with the option on Barney Ridge and the property has been returned to Mr. Kreft. Kestrel has completed and submitted Yukon Mining Land Use permits for Val-Jual, Ten Mile and Clear Creek. Both Class 1 and more encompassing Class 3 permits have been applied for; receipt of the Class 1 permits are anticipated by the end of May, 2018 and receipt of the Class 3 permits are anticipated by early August, 2018. The receipt of these permits will allow Kestrel to complete the required soil sampling, mechanized trenching, road building and drilling necessary to advance these projects. Proposed 2018 exploration will focus on further definition and expansion of anomalies existing on the various projects, particularly Val-Jual and Clear Creek, with a view towards defining drill targets for a proposed late season drill test. Exploration at Val-Jual will primarily focus on expanding the Teckphel and Cupid East targets. At Teckphel peak values of 1,456 ppb Au from soil samples and 0.53 g/t Au from rock samples help define an approximate 650m by 800m gold anomaly located in an area of variably quartz veined, carbonate altered and arsenopyrite mineralized metasedimentary rocks proximal to an intrusive body. Historical work in this area by Solomon Resources included three drill holes which were centred in the middle of a lobe of this anomaly and drilled out towards the fringes. The holes were of insufficient depth to fully test the targeted gold soil anomaly but did return 55.0 metres of 335 ppb Au which suggests good potential for bulk tonnage gold mineralization in this area. Cupid East consists of a 175 metre x 200 metre gold soil anomaly, strongly open to the south, within which samples averaged 122 ppb Au with a peak value of 1,335 ppb Au. Follow up work at Cupid East late in the 2017 field season yielded rock samples with peak values of 6.686 g/t Au from clay-ankerite altered granite with quartz-silica stockwork and peak val...