Vancouver, B.C. (April 1, 2021) Kingman Minerals Ltd. (“Kingman” or the “Company”) (TSX.V: KGS, FSE: 47A1) is pleased to announce that the receipt of assays for borehole MH-02 which completed at a depth of 806 ft (345.7 m). The hole was angled at -70 degrees to horizontal so that it would pass through the two veins beneath the 250-foot level of the mine workings. The first intersection was encountered at 272-276 ft (82.9-84.1 m) and assays showed gold values of 3.4 g/t and 85.4 g/t silver over 4 ft (1.2 m) including a 1 ft interval of 8.44 g/t gold and 85.4 g/t silver. The second intersection occurred at 338-343 ft (103.0-104.5 m) and ran 19.1 g/t gold and 11.1 g/t silver over 5 ft (1.5 m) including a 1 ft interval at 94.5 g/t gold and 40.2 g/t silver. True width of the first interval is calculated to be 0.8 ft (0.25 m). The true width of the second intercept is 1.0 ft (0.32m). Similar to the other boreholes, MH-02 encountered disseminated sulfides and large intercepts of hydrothermal alteration along veins, fractures, and regions adjacent to the gold-bearing veins themselves.
“We are excited to see anomalous gold values from both the first and second veins from the MH-02 borehole. The assay values from the first intercept are encouraging as they show proof of fertile hydrothermal activity along the eastern contact with the assay values from the second intercept being of immensely impressive and unprecedented grade,” commented Brad Peek, M.Sc. CPG and Qualified Person for the Mohave Project.
Figure 1 – Strongly altered and partially brecciated diorite material with vuggy quartz-oxide veining from MH-02
MH-02 encountered sulfide/galena veinlets to 2 cm wide at around 272 ft (82.9 m). The sulfides and galena were deposited in fractures and in the intrusive breccia by hydrothermal fluids that are responsible for the gold and silver mined in the historic workings.
Figure 3 – Summary of gold and silver assay results from MH-02
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.
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