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KAINANTU RESOURCES PROVIDES UPDATE ON MAY RIVER PROJECT
KAINANTU RESOURCES PROVIDES UPDATE ON MAY RIVER PROJECT Canada NewsWire V...
About this update from South Pacific Metals Corp.
[{"type":"text","content":"\n \n \n \n KAINANTU RESOURCES PROVIDES UPDATE ON MAY RIVER PROJECT\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n \n Feb. 15, 2023\n \n \n \n /CNW/ -\n \n Kainantu\n \n Resources Ltd. (\n \n TSXV\n \n :\n \n KRL\n \n ) (\"\n \n KRL\n \n \" or the \"Company\"), the\n \n Asia-Pacific\n \n focused gold mining company, is pleased to provide an update on the May River Project (\"Project\").\n \n \n \n In consultation with stakeholders, the Company is considering options to acquire 100% of the project on favourable terms in the near term.  In the interim, the Company provides an update on technical work completed at the May River project.\n \n \n \n Highlights\n \n \n \n \n A highly successful study has been completed on the Mountain Gate Prospect at the Project, with analysis completed on a total of 324 samples taken from surface and trenching;\n \n \n Significant Au-Cu assay results were collected at Koras Creek in the Mountain Gate Prospect, with assay results ranging from 1,342 ppm (0.13%) Cu to 5,222 ppm (0.52%) Cu, covering a distance of\n \n 194 m\n \n (with weaker anomalous gold values ranging from 0.05ppm to 0.23ppm Au also reported);\n \n \n The above location is likely a possible upflow zone of a porphyry and, along with several other outcrops containing Au-Cu mineralization and alteration distributed within a\n \n 700m\n \n x\n \n 1,400m\n \n area, suggests a shallow Au-rich porphyry copper body(s) underlies the Mountain Gate Prospect;\n \n \n Indications of other satellite porphyry Cu-Au and epithermal Au deposits have also been identified within the nearby VTEM-ZTEM anomalies and northern creeks;\n \n \n Channel cut samples from trenching by prior holders of the Project yielded significant Au and Cu assay results intervals; and\n \n \n KRL believes there is a distinct possibility that the entire Skygate Belt (i.e., all known prospects in the Project) will prove to be a coherent >5km-long geochemical anomaly.\n \n \n \n \n \n Matthew Salthouse\n \n , CEO of KRL, commented:\n \n ...