VANCOUVER, BRITISH COLUMBIA, Apr. 20, 2010 (Marketwire) -- Kaminak Gold Corporation (TSX VENTURE:KAM) today announced that field crews have been mobilized to the Company's 100% owned Coffee Gold property in preparation for an early May Phase I diamond drill program consisting of a minimum of 5,000 metres. Initial work at Coffee will include camp construction, drill mobilization, ground geophysics and in-fill trenching at the Supremo Gold Zone.
The Coffee property is located in the White Gold District of the Yukon and 30kms south of Underworld Resources Inc.'s, presently subject to a friendly take-over offer from Kinross Gold Corp., Golden Saddle Deposit. The Coffee property has never been drilled in the past and work to date suggests the presence of Golden Saddle style mineralization at Coffee.
The initial Phase I 5,000 metre diamond drill program is designed to test high-grade surface gold discoveries at the Supremo and Latte Gold Zones. The first series of shallow holes (less than 200m) will be drilled at Supremo directly below trench results of 11.7 g/t Au over 10m and 8.6 g/t Au over 15m (Trench #3). The Supremo zone consists of a 2.5km long by 2km wide gold-in-soil anomaly containing several distinct drill targets identified through trenching. Recent technical work by Kaminak's team suggests the Supremo gold occurrences are associated with extensive structural corridors that are interpreted as significant regional features.
The second series of shallow drill holes will test the Latte Gold Zone, which occurs 1km south of the Supremo zone and is located on an entirely different structure. The Latte zone is defined by a 1km long by up to 100m wide gold-in-soil anomaly averaging 600 ppb Au (0.6 g/t Au). Once drilling has begun, Kaminak expects to be reporting its first assays several weeks after.
Surface Exploration Strategy
Soil sampling and trenching over the entire Coffee property is expected to commence in early June and will complement the ongoing drill program. In 2009, Kaminak identified through soil sampling eight distinct gold zones, some of which are still open for expansion, spanning an 11km strike length. With the recent increase in property size (see Kaminak news release March 29, 2010), soil samples have only been collected on 7% of the property. A widespread soil sampling program consisting of a minimum of 2,000 soil samples will be collected throughout the property. Done in tandem to the soil sampling program will be an extensive trenching program over highly anomalous soils.
Kaminak's disclosure of a technical or scientific nature in this press release has been reviewed and approved by Dr. Rob Carpenter, Ph.D., P.Geo., Kaminak's President and CEO, who serves as a Qualified Person under the definition of National Instrument 43-101. The Coffee property represents an early stage exploration property and does not contain any mineral resources as defined by National Instrument 43-101.
On behalf of the Board of Directors of Kaminak
Rob Carpenter, Ph.D., P.Geo., President and CEO
Kaminak Gold Corporation
Kaminak is a member of the Discovery Group of companies. For more information on the group please visit www.discoveryexp.com.
Certain disclosures in this release, including management's assessment of plans and projects and intentions with respect to listings of securities, use of proceeds and future exploration programs, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Kaminak's operations as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements, including risks as to the completion of the plans and projects. Readers are cautioned not to place undue reliance on forward-looking statements. Kaminak expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.
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.