VANCOUVER, Oct. 23 /CNW/ - Kingsman Resources Inc. (TSXv: KSM) ("Kingsman") is pleased to announce the results of further prospecting on its International Basin Project, located 35 kilometers south of Golden, British Columbia. As reported previously (see News Releases dated November 7, 2007 and December 12, 2007), the property overlies several old crown granted mineral claims with numerous old workings, including pits, shafts, and adits, and two preliminary prospecting programs conducted in 2007 yielded promising gold, silver, and base metals values from polymetallic quartz-Fe carbonate veins.
In mid-August, a crew of nine spent several days on the property, and the work included prospecting (approximately 130 rock samples), soil and stream sediment geochemical sampling (213 and 72 samples, respectively), and geologic mapping.
Samples from the most recent program yielding the highest gold and silver values (ranging up to 0.971 oz./ton gold and 63.9 oz./ton silver; samples SKIB8R037-039; see table below for the more significant results, which mainly represent character or "grab" samples), were collected from decimeter- to meter-scale quartz-Fe carbonate veins only locally exposed in several old exploration pits. There the veins contain sulphides, principally galena and sphalerite, and sulphosalts (tetrahedrite) that are interpreted to have infilled around well-formed quartz crystals which grew in open spaces within the veins. The veins themselves were emplaced, possibly in the late stages of regional deformation, along the axial planar cleavage of the controlling structure on the property, which is moderately northwesterly-plunging anticline.
Another high-grade sample, E23251, yielded just over 2 oz./ton gold and 10 oz./ton silver. It was collected at a lower elevation approximately 0.5 km east of the main mineralized trend, and suggests the possibility of good potential for higher-grade mineralization off of the main trend.
Sample Sample Au Au Ag Ag Cu Pb Zn
Number Type ppm oz/ton ppm oz/ton ppm ppm ppm
SFIB8R007 chip, 10 cm 0.099 0.0029 240.0 7.00 5.01% 6.23% 654
SFIB8R008 chip, 10 cm 0.096 0.0028 9.5 1885 825 60.40%
SFIB8R009 chip, 40 cm 0.084 0.0025 215.0 6.27 10.70% 2.44% 4640
SFIB8R010 float 0.009 0.0003 1.3 1.25% 3.85 4.17%
SKIB8R010 grab 7.310 0.2130 8.2 2.35% 773 377
SKIB8R011 grab 1.725 0.0503 61.4 165 3.72% 140
SKIB8R015 grab 0.159 0.0046 219.0 6.39 7.02% 7.91% 5.43%
SKIB8R023 grab 6.320 0.1845 166.0 4.84 1650 10.35% 2700
SKIB8R024 float 3.330 0.0971 230.0 6.71 9730 4.11% 4140
SKIB8R027 grab 2.840 0.0828 147.0 4.29 7590 3.98% 1490
SKIB8R028 grab 12.000 0.3500 1170.0 34.10 1.15% 50.90% 1365
SKIB8R029 float 1.020 0.0298 16.2 431 3400 183
SKIB8R030 grab 0.258 0.0075 138.0 4.03 6260 4.90% 2000
SKIB8R035 grab 1.670 0.0487 263.0 7.67 2.40% 10.50% 7520
SKIB8R036 grab 19.100 0.5570 855.0 24.90 2.90 4.48% 8.7%
SKIB8R037 grab 33.300 0.9710 (greater 63.90 9.90% 4620 29.7%
than)
1500
SKIB8R038 grab 15.300 0.4460 403.0 11.75 8450 2.15% 7.6%
SKIB08R39 grab 0.040 0.0012 168.0 4.90 2680 7.19% 129
SKIB08R40 grab 0.064 0.0019 274.0 7.99 4.17% 6.07% 944
SKIB08R41 grab 0.124 0.0036 123.0 3.59 3900 3.76% 110
SKIB08R42 grab 0.173 0.0050 58.2 1.70 3390 2.06% 2600
SKIB08R43 grab 0.098 0.0029 741.0 21.60 3.72% 25.89% 2810
SKIB08R44 composite
grab 0.489 0.0143 207.0 6.04 3110 3.25% 1350
SKIB08R47 grab 0.451 0.0132 620.0 18.10 680 38.07% 1105
SKIB08R48 grab 7.410 0.2160 395.0 11.50 8590 6600 2.92%
SKIB08R49 grab 1.370 0.0400 1020.0 29.80 2540 55.18% 6070
SKIB08R50 grab 9.110 0.2660 552.0 16.10 1.97% 15.95% 5.76%
SKIB08R51 grab 0.797 0.0233 1130.0 33.00 4890 62.05% 2610
SKIB08R52 grab 2.070 0.0604 546.0 15.95 4320 27.62% 1310
SKIB08R53 grab 3.310 0.0965 408.0 11.90 5910 13.5% 1960
SKIB08R54 grab 2.330 0.0680 287.0 8.37 6320 5.22% 1255
SKIB08R55 grab 1.445 0.0421 274.0 7.99 509 17.85% 245
SKIB08R56 grab 3.240 0.0946 532.0 15.50 4790 15.65% 2290
SKIB08R58 grab 0.100 0.0029 365.0 10.65 747 18.15% 566
SKIB08R59 grab 0.512 0.0149 560.0 16.35 255 35.48% 68
SKIB08R60 grab 3.770 0.1100 860.0 25.10 5720 30.89% 729
SKIB08R61 grab 0.163 0.0048 430.0 12.55 69 20.96% 76
SKIB08R62 grab 4.390 0.1280 341.0 9.95 1.13% 3450 1635
CGIB8R001 grab-chip 2.250 0.0656 303.0 8.84 1.16% 1100 2.86%
CGIB8R012 chip, 25 cm 0.513 0.0150 0.7 30 433 311
CGIB8R013 chip, 25 cm 0.926 0.0270 5.1 533 2170 4810
CGIB8R033 chip, 50 cm 0.666 0.0194 43.2 1570 675 288
CGIB8R034 chip, 15 cm 4.820 0.1405 44.1 259 2.18% 576
CGIB8R035 chip, 15 cm 1.660 0.0484 126.0 3.68 1040 2.61% 1710
E23251 grab 72.000 2.1000 380.0 11.10 2.51% 1.66% 5590
G08859 grab 4.250 0.1240 176.0 5.13 267 13.85% 118
SCIB08-16 grab 0.445 0.0130 39.6 8870 8590 2120
SCIB08-17 grab 5.360 0.1565 51.7 5280 1.96% 5140
In the present program, the scope of prospecting was expanded from a relatively restricted area on the north side of Bobbie Burns Creek across to the south side of the creek, where aerial reconnaissance in 2007 had identified numerous quartz veins in an area that was previously ice-covered. The most recent work confirmed that mineralized veins definitely do occur in that area, including samples from separate quartz-Fe carbonate veins which yielded 0.213 and 0.157 oz./ton gold, and a grab-chip sample from a sheeted quartz vein system with little obvious sulphide mineralization that yielded 0.0656 oz./ton gold and 8.84 oz./ton silver. In addition to the prospecting, stream sediment geochemical sampling was completed from streams and seeps draining into the headwaters of Bobbie Burns Creek, and several soil contour lines were run on the north side of the creek, downslope from most of the old workings where there is less bedrock exposure. The stream sediment and soil geochemical sampling clearly highlighted the areas focused on by previous workers, and by Kingsman, but it also highlighted several areas farther to the east and downslope, which have seen much less exploration attention.
At International Basin, gold and silver occur within several different styles of mainly extensional quartz-Fe carbonate veins with widths ranging to up to several meters. Precious metals values also occur very locally within sericite-Fe cb-pyrite altered wallrocks to the veins. Sheeted quartz veins and quartz sringer vein systems and stockworks are present locally as well. Veins vary in width up to three metres, although most well-mineralized veins are narrower. Strike lengths of the veins range up to at least 100 metres, but most well-mineralized sections of veins observed to date are much less continuous. The higher precious metals values appear to occur in decimeter-thick quartz-Fe carbonate veins and are clearly associated with the presence of sulphides (galena, pyrite, and sphalerite with lesser chalcopyrite and arsenopyrite) and, in particular, with sulphosalts (tetrahedrite). The copper oxides malachite and azurite are also observed locally, and most typically appear to mark the presence of tetrahedrite in the veins.
Most well-mineralized veins occur within a northwest-trending structural corridor which stretches at least 3.5 km, from south of Bobbie Burns Creek to Bennison Creek. It is marked by variably and locally intensely altered (quartz, sericite, Fe carbonate, and pyrite) clastic sedimentary rocks and coincides with the axis of an anticlinal fold system. In that structural context, the well-mineralized veins appear to be preferentially developed near the upper contacts of coarsening-upward turbiditic sequences of fine- to coarse-grained quartz arenite that are interbedded locally with quartz and chert pebble conglomerate (grits). The immediately overlying rocks are typically very fine-grained and commonly intensely altered, and it is probable that they acted either as a relatively impermeable barrier to the rising hydrothermal fluids from which the mineralized veins were deposited, or were less competent than the coarser-grained rocks and did not develop open space during development of the vein systems.
A four-day follow-up program with a still larger crew was completed in mid-September. It focused largely on channel-sampling veins and nearby wallrock considered to have the greatest exploration potential, although additional prospecting and in-fill soil geochemical sampling was also undertaken. Results will be presented after they have been received, compiled and interpreted.
Charles J. Greig, M.Sc., P.Geo., a qualified person, supervised the fieldwork and the preparation of the technical information in this release.
About Kingsman Resources Inc. ----------------------------- Kingsman Resources Inc. is an exploration and development company with a focus on gold, silver, molybdenum and copper. Kingsman Resources trades on the TSX Venture Exchange under the symbol "KSM". On Behalf of the Board of Directors KINGSMAN RESOURCES INC. "Robert McLaughlin" ------------------- Robert McLaughlin Director The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release.