Vancouver, B.C. (March 24, 2021) Kingman Minerals Ltd. (TSX-V:KGS) (FSE:47A1) (“Kingman” or the “Company”) is pleased to announce that core hole MH-04 was drilled at an angle of -70 degrees to intersect the two veins at depth, below the historic mine workings. The hole reached a total depth of 726 feet (221.3 meters). It successfully reached the upper portion of the target zone at a depth between 365 and 383 feet (110.6 and 116.7 m) and passed through a strongly altered and partly oxidized zone, typically coincident with gold mineralization. As in the 3 previous holes, interesting mineralization and alteration were found on either side of a rhyolite dike in sheared and brecciated zones. One brecciated zone at 376.5-382.2 ft (114.8-116.5 m) contained abundant sulfides, believed to be primarily arsenopyrite.
Figure 1 –Strong hydrothermal alteration in borehole MH-04 at the contact between rhyolite (tan-pink) and diabase (dark gray)
Figure 2 – Oxidation and alteration in a rhyolite dike from borehole MH-04.
Figure 3 – Strip log of MH-04
Once again, the rock types, structure and alteration patterns seen in MH-04 correspond well with those detailed in previous drilling reports and underground maps. MH-04 continues to confirm historic descriptions of the two vein structures separated by a rhyolite dike.
"This interval of alteration is extremely exciting for Kingman. We are seeing features that are consistent with larger systems and encourages further, more extensive, exploration and development work. Nothing encountered so far has appeared to the contrary. We think it is a safe assumption that Kingman will be working in this area for years to come ” 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 analyses.
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.