Vancouver, B.C. (March 10, 2021) Kingman Minerals Ltd. (TSX-V:KGS) (FSE:47A1) (“Kingman” or the “Company”) is pleased to announce that Kingman continues to drill the Mohave Project in the Rosebud Mine area. MH-03 is being drilled at an angle of -60 degrees and is expected to intersect mineralized veins on either side of a rhyolite dike. The veins are to be intersected below the lowest (250-foot) level of the historic Rosebud Mine. The drilling is expected to verify the thickness and grade of the veins recorded in previous exploration activity reports.
Figure 1 – This is an example of core from first of five proposed drill holes. It is a close-up photo of brecciated vein material filled with iron oxide, probably hematite. The rock type here is an altered rhyolite and it came from 44 meters deep on core hole MH-01.
Figure 2 – Another photo of the same vein material as in Figure 1.
“Drilling is progressing very well for Phase I. To date we have intersected every target on each hole, and we anticipate MH-03 will as well. Our qualified person, Brad Peek C.PG and team have done exceptional work in preparing, planning, and carrying out the drill plan. With what we are seeing from the core, Kingman is confidently able to see the absolute potential for this project area more and more, “stated Sandy MacDougall, Chairman and Director.
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.