Vancouver, B.C. (March 19, 2021) Kingman Minerals Ltd. (TSX-V:KGS) (FSE:47A1) (“Kingman” or the “Company”) is pleased to announce that the Company is drilling MH-04 which at a -70° angle and successfully reached the upper portion of the target zone at a depth between 365 and 383 feet (110.6 and 116.7 m). It passed through a strongly altered and partlyoxidized zone, typically coincident with gold mineralization. Part of the zone contained up to an estimated 10% arsenopyrite. The zone is intermingled with felsic and mafic intrusives and hydrothermal breccias. Hydrothermal breccias are usually formed through hydrofracturing of rocks by hydrothermal fluids under great pressure. They are common in the epithermal ore environment and can be associated with intrusive-related ore deposits which include skarns, greisens and porphyry-related mineralisation. Epithermal deposits are commonly mined for copper, silver and gold.
Figure 1 –Strong hydrothermal alteration along one of the intermediate rhyolite dikes in drill hole MH-04.
Figure 2 –Strong hydrothermal alteration along one of the intermediate rhyolite dikes in drill hole MH-04.
"MH-04 is extremely exciting thus far. We are seeing sizable amounts and types of alteration that are not uncommon in epithermal gold deposits and do more commonly exist within the distal regions of porphyry deposits. These observations are incredibly significant for Kingman and we look forward to the assay results of MH-04 with great anticipation” commented Sandy MacDougall, Chairman and Director.
The rock types, structure and alteration patterns seen in MH-04 coincide well with those detailed in previous drilling reports and underground maps. MH-04 continues to confirm historic descriptions of two vein structures separated by a rhyolite dike.
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.
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.