TORONTO, ON – July 11, 2023 – Kingsview Minerals Ltd. (CSE: KVM) (FSE: 0L4) (the “Company” or “Kingsview”) is pleased to announce the first results from the recently completed initial drill program at its 13,056-hectare gold-silver and critical metals Echum Project in Wawa, Ontario.
Initial drilling focused on testing the upper portions of the Smoke critical metal target, which was first identified through the 2021 airborne VTEM and 2023 IP surveys (Figure 2). The Smoke target had not been previously drill-tested, and Kingsview is pleased with the widespread occurrence of copper and zinc values as well as the occurrence of significant quartz veining, often a sign of the presence of regional scale deformation zones. Highlighted critical element assay results are summarized in the table below, including drill hole EC-23-002 which returned 0.07% copper (Cu) and 0.21% zinc (Zn) over 19 metres, including 0.09% Cu and 0.24% Zn over 11.5 metres.
James Macintosh, President and CEO, commented: “We are pleased that we were able to pierce the top of our VTEM and IP targets in our initial drilling. The presence of near-surface copper and zinc values confirm the Smoke target as a priority critical metals target for Phase 2 exploration at Echum. Our technical team also noted that some aspects of the wide mineralized section were visually similar to some of the known gold deposits in the area, such as Alamos’ Island Gold Mine. This suggests that there is potential for the Echum Project to host significant gold and silver mineralization in addition to the identified copper and zinc in this initial limited drilling. Our first two drill holes only tested the top third of our 500-metre deep VTEM target, which also has a strike length of 800 metres. Interpreting the complex structures intersected in the drilling will help us build our geological knowledge of this very large, underexplored property. The Company has many additional targets for future exploration at the Echum Project.”
Next Steps for Exploration at Echum Project
On the back of initial drilling results with encouraging copper and zinc values near or above the VTEM conductor, the Company has an extensive surface exploration plan to closely examine the gold and critical metals potential at Echum (Figure 3).
- Interpret Geology, Structure, and Mineralization Encountered in Drilling – A very wide structural zone with intense quartz veining and multiple sulphide minerals was encountered in the first two drill holes.
- Surface Exploration – The Company has outlined 35 additional field exploration targets to examine on the ground and have plans for a summer field program.
- IP Survey – The Company has plans to complete additional IP surveys to aid in further exploration and discovery of drill targets.
- Drill Program – The Company will use the information gathered to date and from the summer field program to continue to build solid drill targets and to build a database that will help the company shorten the exploration timelines to success.
The Company is committed to continue building its knowledge of the Echum Project. The favourable geological and structural setting of the area continues to be an exciting prospect for the discovery of gold, silver, and critical metals.
The elevated presence of copper and zinc found within the extensive quartz veining system is promising
EC-23-002 encountered a wide zone of sulphide mineralization, quartz veining, and strong structures/deformation.
Qualified Person
Bruce Durham, P.Geo., is a Qualified Person, as that term is defined by Canadian regulatory guidelines under NI 43-101, and has read and approved the technical information contained in this press release.
About Kingsview Minerals Ltd.
Kingsview is a mineral exploration company focused on its gold and base metal exploration properties, including its 13,056-hectare flagship Echum Project and 2,200-hectare Hubcap Project, both located in the active Wawa Gold Corridor in Ontario, Canada. The Company’s properties are surrounded by advanced infrastructure in a well-developed mining district. Kingsview will draw on its strong technical team with significant exploration success to advance its properties. Learn more: http://www.kingsviewminerals.ca/ .
For more information, please contact investor relations at investors@kingsviewminerals.ca.
On Behalf of the Board of Directors,
James Macintosh
President and CEO
Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepted responsibility for the adequacy or accuracy of this press release.
This press release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and assumptions and accordingly, actual results and future events could differ materially from those expressed or implied in such statements. You are hence cautioned not to place undue reliance on forward-looking statements. Forward-looking statements include words or expressions such as “proposed”, “will”, “subject to”, “near future”, “in the event”, “would”, “expect”, “prepared to” and other similar words or expressions. All statements other than statements of present or historical fact are forward-looking statements and include but are not limited to statements regarding the potential that the projects will yield any precious metals in future exploration programs and the Company’s ability to advance its properties.
Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is based on assumptions made in good faith and believed to have a reasonable basis. Such assumptions include the Company’s ability to implement a drill program on the projects, that the Company will have sufficient funds available to it and that the Company will continue to be able to retain skilled personnel. Factors that could cause future results or events to differ materially from current expectations expressed or implied by the forward-looking statements include general business, economic, competitive, political and social uncertainties; the state of capital markets; there being no assurance that any future exploration program on the projects will result in mineral resources; the inability of the Company to raise sufficient funds and/or retain necessary personnel to conduct its operations; the impact on the business, operations and financial condition of the Company resulting from the announcement of the purchase of the projects; the impact that the recovery post COVID-19 may have on precious metals; failure to realize the anticipated benefits of the transaction described in this press release; other unforeseen events, developments, or factors causing any of the aforesaid expectations, assumptions, and other factors ultimately being inaccurate or irrelevant; and any risks associated with the ongoing COVID-19 pandemic.You can find further information with respect to these and other risks in filings made with the Canadian securities regulatory authorities that are available on the Company’s SEDAR profile page at www.sedar.com. The Company disclaims any obligation to update or revise these forward-looking statements, except as required by applicable law.
Recent Comments