MinKap Enters into Property Acquisition Agreement for the Breccia Gold Property, Idaho, USA

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[{"type":"text","content":"MinKap Enters into Property Acquisition Agreement for the Breccia Gold Property, Idaho, USATORONTO, ON / ACCESSWIRE / February 18, 2020 / Minkap Resources Inc. (TSXV:KAP) (\"MinKap\" or the \"Company\") is pleased to announce that it has entered into an arm's-length non-binding letter of intent (the \"LOI\") dated February 3, 2020 with DG Resource Management Ltd. (\"DGRM\"). The LOI sets out the terms of a proposed transaction pursuant to which the Company will acquire a 100% undivided interest in the Breccia Gold Property (\"Breccia\" or the \"Property\") located in Idaho, USA (the \"Proposed Transaction\").The PropertyThe Property is located approximately 40 km southwest of Salmon, Idaho and is accessible via paved highway and a network of well-maintained gravel roads. The Property hosts the historic Gahsmith Gold Mine (the \"Gahsmith Gold Mine\"), which is central to a significant low-sulphidation epithermal gold system. The Property consists of 80 claims covering approximately 1,650 acres within the Blackbird Mining District, and while host to the Gahsmith Gold Mine, is also contiguous to the south of the historic Musgrove Creek Mine.Gold mineralization on the Property occurs within an approximately 1,800 m portion of the Meadows Fault Zone (\"MFZ\") (Figure 1), with the northernmost showing referred to as the Lee Prospect, and the Breccia Gold Zone within the southern portion. Historic and recent exploration has shown the gold mineralization to be within an approximate 500 m long by 8 to 20m wide zone (the \"Breccia Gold Zone\") of highly brecciated and oxidized host lithologies, proximal to the MFZ.Figure 1 Location of Meadows Fault Zone and Historic Work.The Breccia Gold Zone was exploited via at least eight adits during the 1930's and early 1940's, with several thousand tons of mineralized material extracted, targeting high-grade gold mineralization within quartz veins, hosted by a wide zone of brecciation. Shipments of hand-cobbed material from the Gahsmith Gold Mine reportedly ran as high as 34.3 g/t Au (1.0 oz/ton Au), with a cutoff grade of about 8.23 g/t (0.24 oz/ton Au), however the Company has not been able to confirm this data under the conforms of NI 43-101 standards.The Property underwent some exploration in the mid- 1980's that included metallurgical testing and limited drilling, as well as surface and undergr...

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