Mining News: Northern Neighbors: Drilling results in robust Coffee resource

Kaminak Gold Corp. Sept. 23 reported that its recently completed 70,000-meter infill drill program nearly quadrupled the indicated resource tonnage at its Coffee gold project in Yukon Territory. Coffee now hosts 52.4 million metric tons of indicated resource averaging 1.68 grams per metric ton (2.82 million ounces) gold. In addition to the nearly four-fold increase in tonnage, the grade of the indicated resource has increased by eight percent. Coffee also hosts 42.7 million metric tons of inferred resource averaging 1.52 g/t (2.09 million oz) gold, representing a 12 percent increase in grade for this category. Kaminak said it remains on-track to complete a feasibility study for Coffee in the first quarter of 2016. “Coffee remains a strong project and one of the few development track gold projects located in Canada that can deliver sizeable, high-margin production in excess of 160,000 ounces per annum in the current gold price environment,” said Kaminak CEO Eira Thomas.

–Shane Lasley