Vancouver, B.C. (February 24, 2021) Kingman Minerals Ltd. (TSX-V:KGS) (FSE:47A1) (“Kingman” or the “Company”) is pleased to announce that with final permits in place, Kingman has commenced drilling the Mohave Project in the Rosebud Mine area. Kingman will complete five exploration directional core holes from three pads with the intention of gaining maximum information while minimizing surface disturbance. The five core holes are proposed to various directional depths within a southeast to northwest trend focused on historic exploration data effectively exploring two federal lode claims for metallic resources.
Figure 1 – Godbe Drilling setting up to drill MH-01 using a truck-mounted LF-90 drill with 2.5-inch coring (HQ) unit. Fresh water with biodegradable polymer would be utilized as the coring medium. In the background is the Music Mountain Mining District where several mines produced gold and silver for many years.
The proposed exploration project coupled with existing data from past and historic exploration programs will facilitate the further development of a 3D image of the geologic structure and stratigraphy underlying the project area and estimates of resource quantity and quality. MH-01 is expected to intersect two mineralized veins on either side of a rhyolite dike, veins that are exposed and have been sampled in the historic underground workings. The drilling is expected to verify the thickness and grade of the veins recorded in previous exploration activity reports.
Figure 2 – Cross section of core removed from MH-01
Figure 3 – Godbe Drilling’s driller’s helper retrieving MH-01 core from the core barrel.
“Kingman is extremely pleased to have commenced drilling the Mohave Project. After the completion of 2 phases of underground exploration, a drone survey and 3D laser survey, the Company has an incredibly good understanding of the structures present on this Property. This is a crucial step in completing a resource estimate of the Mohave Project and we are in an excellent position to successfully intersect the mineralized zones, “stated Sandy MacDougall, Chairman and Director.
The technical information contained in this news release has been reviewed and approved by Bradley C. Peek, MSc. and Certified Professional Geologist 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.