NOW READ OUR ARTICLES IN 40 DIFFERENT LANGUAGES.
HOME PAGE SUBSCRIPTIONS, Print Editions, Newsletter PRODUCTS READ THE PETROLEUM NEWS ARCHIVE! ADVERTISING INFORMATION EVENTS PETROLEUM NEWS BAKKEN MINING NEWS

Search our ARCHIVE
Vol. 17, No. 46 Week of November 11, 2012
Providing coverage of Alaska and Northwest Canada's mineral industry

Mining Explorers 2012: Kaminak Gold Corp.

KAM: TSX-V

President and CEO: Rob Carpenter, Ph.D., P. Geo. 


Chairman: John Robins, P.Geo.

Vice President, Exploration: Tim Smith, M.Sc.

Kaminak Gold Corp., a project generator with a dozen properties in Canada, planned a C$17 million 50,000-meter first-phase exploration drill program for 2012 on its Coffee Gold Project located in the White Gold District of Yukon Territory, but by mid-season had added at least C$2 million and more than 10,000 meters of additional drilling to the program. The company aimed to build upon the 65,000 meters of drilling it completed during the 2010-2011 seasons that resulted in discovery of 10 new zones of bedrock gold mineralization over 15 kilometers-by-5-kilometers (9 miles by 3 miles) area near Coffee Creek in the Dawson Mountain Range. Kaminak focused on expanding the Supremo-Connector-Double Double-Latte gold trends with the objective of producing a maiden NI 43-101-compliant inferred mineral resource estimate at the end of 2012. In July, the company said it had extended mineralization in Supremo and Latte, effectively connecting the two zones; by September, it reported numerous additional high-grade gold intercepts in the zones, including a new gold discovery at Supremo. At the Sugar Zone gold-in-soil anomaly located 20 kilometers (12.4 miles) east of the Coffee Gold Project, the company reported identifying near-vertical gold-bearing structures beneath gold-in-soil trends in initial drilling. Currently, more than 20 kilometers of untested anomalies identified through soil sampling on the property warrant drill testing, while just 15 percent of the 60,704-hectare (150,000 acres) Coffee property has experienced systematic grid soil sampling. In May, Kaminak raised gross proceeds of C$6.3 million in a private placement to conduct exploration activities, including adding a fifth drill, on the Coffee project. In April, the company also reported 90.4 percent gold recoveries obtained over 80 days, including 83.2 percent recoveries over the first 15 days, from simulated heap leach testing of a 30-kilogram sample of drill core from the Supremo and Latte zones.

Cash and short-term deposits: C$ 17.17 million (June 30, 2012)

Working capital: C$15.41 million (June 30, 2012)

Market capitalization: C$140.61 million (Sept. 11, 2012)

Suite 1020 - 800 West Pender St

Vancouver, BC
Canada V6C 2V6

Tel: 604 646-4534 Fax: 604 646-4526

www.kaminak.com



Did you find this article interesting?
Tweet it
TwitThis
Digg it
Digg
Print this story | Email it to an associate.

Click here to subscribe to Mining News North of 60 for as low as $69 per year


Mining News North - Phone: 1-907 522-9469 - Fax: 1-907 522-9583
Publisher@MiningNewsNorth.com --- http://www.miningnewsnorth.com ---
S U B S C R I B E

Copyright Petroleum Newspapers of Alaska, LLC (North of 60 Mining News)(Petroleum News Bakken)(Petroleum News)(PNA)2013 All rights reserved. The content of this article and web site may not be copied, replaced, distributed, published, displayed or transferred in any form or by any means except with the prior written permission of Petroleum Newspapers of Alaska, LLC (Petroleum News)(PNA). Copyright infringement is a violation of federal law subject to criminal and civil penalties.