Kingman Announce Results from Phase II Drill Program
Vancouver, B.C. (December 24, 2021) Kingman Minerals Ltd. (TSX-V:KGS) (OTCQB: KGSSF) (FSE:47A1) (“Kingman” or the “Company”) is pleased to announce its assay results for Phase II diamond drilling on the Mohave Project near Kingman, Arizona, USA. Kingman Minerals experienced slow drilling and technical issues caused by supply chain and other pandemic related problems, which led to a temporary suspension of the Phase II diamond drilling. As such, the Company was unable to fully test all desired targets. Yet, two of the partially completed holes (MH-07, MH-08) were capped and are to be re-entered at some point in 2022 and completed to their respective target depths. All of the 24 fully permitted holes are intended to define the continuation of the vein systems away from the Rosebud shaft area and to test some deeper targets suspected to be present within the Rosebud claim group.
Diamond drill hole MH-06 intersected both main vein systems with the East vein yielding 0.7 gpt Au, & 132 gpt Ag. The west vein showed values of 4.3 gpt Au, & 68.3 gpt Ag. These intercepts extend the veins to the southeast of the mine workings, where previously no vein mineralization was known to occur. The MH-06 discoveries open an entirely new area for future Mohave Project exploration.
Core hole MH-07, which has a target depth of 2000 feet (610m) was temporarily suspended at 1185 feet (361m) due to escalating drilling costs. Although the hole is not yet completed, a Tertiary-age(?) porphyry intrusive and associated alteration in the lower part of the hole indicate the possibility that there could be a larger mineralizing system at depth.
Figure 1 – Example of sulfide mineralization and alteration at depth in MH-07.
The technical information contained in this news release has been reviewed and approved by Brad Peek., MSc., CPG, who is a Qualified Person with respect to Kingman’s Mohave Project as defined under National Instrument 43-101.
About Kingman
Kingman Minerals Ltd. is currently engaged in the business of precious metal mineral exploration for the purpose of acquiring and advancing non grass roots mineral properties located in mining friendly jurisdictions of North America. The Mohave Project (the “Project”) is located in the Music Mountains in Mohave County, Arizona and is comprised of 72 lode claims which are inclusive of the past producing Rosebud Mine (the “Rosebud”). High-grade gold and silver veins were discovered in the area in the 1880’s and were mined mainly in the late 20’s and 30’s. Underground development on the Rosebud property included a 400-foot shaft and approximately 2,500 feet of drifts, raises and crosscuts.
For further information please contact:
Arthur Brown, Chairman & Director
(604) 685-7720
www.kingmanminerals.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes statements regarding, among other things, the completion transactions completed in the Agreement. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, regulatory approval processes. Although Kingman believes that the assumptions used in preparing the forward-looking information in this news release are reasonable, including that all necessary regulatory approvals will be obtained in a timely manner, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Kingman disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable securities laws.