Vancouver, B.C. (March 26, 2021) Kingman Minerals Ltd. (TSX-V:KGS) (FSE:47A1) (“Kingman” or the “Company”) is pleased to announce that the Company completed MH-01 at a depth of 225 ft (68.6m). Core hole MH-01 was drilled to intersect the two veins that were mined primarily in the 1930s for gold and silver. The hole was angled at -45 degrees to horizontal so that it would pass through the two veins between the 100- and 200-foot levels of the mine workings. The intersection of the vein in two places was the objective of the drill hole and the assays have confirmed the grades of gold and silver stated in historic reports on the property.
“The high-grade intercept of gold and silver was encountered at a depth of 149.3 ft (45.5 m) with an interval length of 1.3 ft (0.4 m) (not true width). It is another significant step for the Company as it suggests that there is indeed validity to the historic reports on the Project. As the current campaign progresses and more assays are received, we will indeed be able to speak to the veracity of the historical information more confidently; and with that, expand upon the current phase of drilling to determine the grade, size and extent of the systems that exist in Mohave”, commented Brad Peek, M.Sc. CPG and Qualified Person for the Mohave Project.
Figure 1 – Intensely oxidized regions of sample 1710509 ran 15.2g/t Au and 320 g/t Ag over 1.3 ft (0.4 m).
Figure 2 – Strip Log of MH-01 showing the intersection of two mineralized veins as intended based on historical information and prior work programs.
Figure 3 – Summary of gold and silver assay results from MH-01.
Samples were sent to Skyline Laboratories in Tucson, Arizona on a rush basis and assays for gold and silver analysis were completed using Skyline’s FA-1 method for gold (Fire Assay– AA (Geochem) 5-5,000 ppb, 30g, with gravimetric finish for over-limits) and FA-8 for silver (Aqua Regia/AA (Geochem)).
The technical information contained in this news release has been reviewed and approved by Brad Peek., M.Sc., CPG, who is a Qualified Person with respect to Kingman’s Mohave Project as defined under National Instrument 43-101.
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 71 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.
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.