Highlights include gold grades of 62.6 g/t, 30.7 g/t, and 25.0 g/t
TORONTO, ON – July 18, 2023 – Kingsview Minerals Ltd. (CSE: KVM) (FSE: 0L4) (the “Company” or “Kingsview”) is pleased to announce results from a field sampling program at the Hubcap Project in the active Wawa Gold Corridor of northern Ontario.
The exploration carried out in the spring of 2023 is part of a multi-phase program across the 15,295-hectare property portfolio expected to take place over the summer of 2023. Current sampling results reported are focused on the Hubcap Project located immediately south of Red Pine Exploration’s Wawa Gold Project where Red Pine recently reported a drill intersection of 1.32 grams of gold per tonne (g/t Au) over 100.99 metres (m).
Surface sampling highlights from the Hubcap Main block included: sample E5707121 from HBFS-23-004, which graded 62.60 g/t Au and 6.10 g/t of silver (Ag); sample E5707117 from HBFS-23-002, which graded 30.70 g/t Au and 5.40 g/t Ag with 1400 ppm of copper (Cu); and sample E5707119 from HBFS-23-003, which graded 25.00 g/t Au and 4.40 g/t Ag. Significant sample results are highlighted below in Table 1, and locations are shown on Figure 1 below.
James Macintosh, President and CEO, commented: “These results from our spring field sampling continue to provide strong evidence that the greenstones and intrusive rocks found at Hubcap resemble the regional geologic setting that has brought Red Pine Exploration so much success. The fact that 40% of the samples collected from outcrops returned gold assays in excess of 2 grams per tonne is very encouraging. We hope to replicate the success of our northern neighbour, given that the encouragingly strong gold values at Hubcap are associated with strong alteration, sulphide mineralization and structural deformation. The results provide excellent targets for our future exploration, including drill testing of the best targets we define.”
**All sample values are from grab samples which by their nature are not representative of overall grades of mineralized areas. Readers are cautioned to not place undue reliance on the assay values reported in the table above. The 10 samples above are part of a suite of 22 samples collected and assayed. Assay values for the samples not reported ranged from trace to approximately 0.3 g/t gold.
Next Steps at Hubcap Project
The Company has an extensive exploration plan to follow up on high-priority targets at the 2,200-hectare Hubcap Project.
- Surface Exploration at Hubcap – Field and channel sampling to better understand over 30 additional exploration targets identified at Hubcap.
- IP Survey – Carry out an IP survey over previously cut grid lines at East Hubcap to help vector exploration and drilling efforts.
- Re-Logging and Sampling Historic Core – Examine and review all historic core available and sample any overlooked intervals potentially mineralized to help build a better understanding of the historic work.
- Drill Program – Initiate drilling at Hubcap utilizing the results of the surface, exploration, IP survey and re-analysis of the historic work.
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 the flagship 13,056-hectare Echum Project and the 2,239-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.
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