Mining Explorers 2009: Kaminak Gold Corporation
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Last updated 11/1/2009 at Noon
KAM: TSX-V
President and CEO: Rob Carpenter
Chairman: John Robins
Chief Geologist: Craig S. Finnigan
Kaminak Gold Corp., formed in 2005 in British Columbia, is a prospect generator recently focused on early-stage mining opportunities in northwestern Canada. Adhering to a philosophy of forming strategic partnerships such as joint ventures, Kaminak is working to advance at least 16 projects in Yukon Territory, Nunavut, British Columbia and other Canadian provinces. The company has an extensive portfolio of discovery-stage projects that offer world-class exploration potential and current exposure to strategic commodities with an emphasis on gold. Kaminak has a healthy treasury, remains debt-free and maintains a very low corporate burn-rate.
In addition to spinning out a new uranium junior, Kivalliq Energy Corp. and making significant strides in uranium exploration in Nunavut during the past 18 months, Kaminak has focused on newly acquired acreage in the White District of Yukon Territory near the site of Underworld Resources' discovery of more than 100 meters of 3.1 grams per metric ton gold in May. In late August, Kaminak reported gold-in-soil results up to 3.16 g/t gold recovered from a new 450-meter-long geochemical anomaly located roughly 1 kilometer from current trenching areas.
Earlier, the junior reported a yield of 2.30 grams per metric ton gold from continuous chip sampling of subcropping trench material on its Coffee property, which it staked earlier this year along with the Cream and Kirkman properties, to cover favorable geology.
Kaminak said the sample results indicate that the Coffee property has excellent potential to host bulk tonnage or "Underworld-style," gold deposits.
The junior's plans called for systematically trenching the entire property by fall.
In late September, Kaminak reported staking another 210 claims covering 4,250 hectares, or 10,024 acres, in the White District.
The newly acquired claims tie-on to the southwest corner of the Coffee property and extend south and west to Kaminak's Cream property.
The junior now holds title or has title pending to more than 13,000 hectares, or 32,000 acres, in the White District.
Kaminak also owns the Cry Lake gold-silver project, formerly known as the Nizi Creek gold-silver project, in northwestern British Columbia 80 kilometers, or 50 miles, northeast of Dease Lake, B.C., and the Voigtberg copper-gold property located 130 kilometers, or 81 miles, northwest of the town of Stewart, B.C., and 70 kilometers, or 42 miles, from the Galore Creek copper-gold-silver project. Cry Lake has been optioned to Solomon Resources Ltd. and Voigtberg to BCGold Corp.
Both juniors have undertaken exploration programs.
Cash and short-term deposits: C$4.7 million
Working capital: C$5.03 million
Market capitalization: C$17.44 million
1440 - 625 Howe St., Vancouver, BC, Canada V6Z 2T6
Tel: 604 646-4527 Fax: 604 646-4526
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