Vancouver, B.C. (March 12, 2021) Kingman Minerals Ltd. (TSX-V:KGS) (FSE:47A1) (“Kingman” or the “Company”) is pleased to announce that the Company completed MH-03 which was drilled at a -60° angle and reached a depth of 346 feet (105.5 m). It passed through 272 ft (82.9 m) of the quartz diorite gneiss, which is the “country rock” in this region. It then entered a short 2 ft zone with sulfide stringers before entering a void. The void is presumed to be some of the old mine workings in the Rosebud Mine that were not shown on the historic maps or cross sections. The drillers were able to continue the core hole on the other side of the void and drilled 37 ft (11.3 m) of the rhyolite dike. The hole then encountered altered rhyolite and diorite for 9 ft (2.7 m) from 315 to 324 ft. This altered zone is believed to be the second (West) vein described in historic reports.
Figure 1 – Diabase showing prominent hydrothermal alteration (light green-gray + oxidation) against a rhyolite intrusion in drill hole MH-03.
The rock types, structure and alteration patterns seen in MH-03 correspond well with those detailed in previous drilling reports and underground maps. MH-03 continues to confirm historic descriptions of two vein structures separated by a rhyolite dike.
Figure 2 – Strip Log of MH-03 showing the intersection of two mineralized veins and rhyolite dike.
"The presence of the veins at their projected locations is incredibly encouraging. To date, using the prior information available, (while historic in nature), together with information from our previous programs, we have been very successful in hitting our targets which favourably suggests that the historic information that we have is accurate. Kingman has a lot to look forward to” commented Sandy MacDougall, Chairman and Director.
Samples will be sent to Skyline Assayers & Laboratories of Tucson, Arizona on a rush basis for gold and silver analysis.
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.
For further information please contact:
Sandy MacDougall, Chairman & Director
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.