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Mining Explorers 2013: Kaminak Gold Corp.

 

Last updated 11/3/2013 at Noon



KAM: TSX-V

President and CEO: Eira Thomas

Vice President, Exploration: Tim Smith

Chief Geologist: Craig S. Finnigan

Kaminak Gold Corp., a project generator with a dozen properties in Canada, followed up in 2013 on extensive exploration on its Coffee Gold Project located in the White Gold District of Yukon Territory. In December, Kaminak reported a maiden NI 43-101

inferred mineral resource estimate of 64 million metric tons grading at 1.56 grams per metric ton gold for 3.24 million ounces of gold at a base case cut-off of 0.5 g/t gold for oxide and transitional material and a 1 g/t gold cut-off for sulfide material.

The majority of the resource comprises the Latte - Supremo - Double Double deposits, which occur within close proximity to one another over an area measuring about 2,000 meters by 2,000 meters.

The Kona deposit also included in the resource lies about 2.5 kilometers (1.6 miles) west of Latte.

In March, Kaminak began a C$11 million phase 1 2013 exploration program at Coffee.

The company entered into an exploration cooperation agreement with the and Tr'ondëk Hwëch'in First Nation in May relating to Kaminak's Coffee Gold Project.

By Aug. 8, Kaminak had announced results for 170 drill holes covering more than 35,000 meters in the 2013 program at Coffee.

Drilling successfully intersected gold mineralization in the majority of the drill holes (144 of 170) and continued to define new, good grade, shallow, oxidized gold zones in close proximity to the Supremo-Latte-Double Double gold deposits, which currently comprise the bulk of the inferred resources.

In September, the junior also reported details of a comprehensive metallurgical testwork program at Coffee designed to expand on encouraging column leach test results from 2012, where a composite oxide sample from the Supremo and Latte deposits yielded gold recoveries of 90.4 percent in 80 days, including 83.2 percent gold recovery in just 15 days.

Results of the program will be incorporated into a preliminary economic assessment, scheduled to commence in the first quarter of 2014.

Cash and short-term deposits: C$ 10.3 million (June 30, 2013)

Working capital: C$8.9 million

(June 30, 2013; raised $2.5 million in September 2013)

Market capitalization: C$68.9 million (Sept. 27, 2013)

Suite 1020 - 800 West Pender St

Vancouver, BC

Canada V6C 2V6

Tel: 604-646-4534

Fax: 604-646-4526

http://www.kaminak.com

 

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