Vancouver, B.C. (March 5, 2021) Kingman Minerals Ltd. (TSX-V:KGS) (FSE:47A1) (“Kingman” or the “Company”) is pleased to announce the completion of Hole MH-02 at a depth of 806 ft and an angle of -70° drilled in the Rosebud Mine area of the Mohave Project. 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”).
Figure 1 – 3D graphic of completed Hole MH-01 (drilled at a -45° angle to a total depth of 225 ft (68.6 m)) and MH-02(drilled at a -70° angle to a total depth of 806 ft (345.7 m)). The full length of MH-02 is not shown in the graphic. The quartz diorite gneiss, shown in green, is thought to be of Proterozoic age and was intruded early on by the diabase, shown in orange. The rhyolite, shown in lavender, was intruded into the gneiss probably in Tertiary time along the same structures that host the veins, shown in red.
MH-02 intersected two mineralized veins on either side of a rhyolite dike, as also seen in MH-01, which are exposed and have been sampled in the historic underground workings. MH-02 appeared to intersect the rhyolite dike and veins between approximately 266’ (81.1 m) and 345’ (105.2 m).
MH-02 encountered sulfide/galena veinlets to 2 cm wide at around 271 ft (82.6 m). The sulfides and galena were deposited in fractures and in the intrusive breccia by hydrothermal fluids that are responsible for the gold and silver mined in the historic workings. This phase of drilling is expected to verify the thickness and grade of the veins recorded in previous exploration activity reports.
“We are encouraged to see that the geologic relationships seen in the first two drill holes are consistent with those described in the historic reports about the Rosebud mine area. Both the veins and the rhyolite intrusive have occurred in their projected locations, which is gratifying”, states Brad Peek, consulting geologist.
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.