Thursday, November 19, 2015

Knick to release East-West drill targets in December

2015-11-19 02:40 ET - News Release

Mr. Gordon Henriksen reports
Not many mining exploration companies have the opportunity to drill test for a potential near-surface resource adjacent to a property that contains combined resources of 1,531,000 ounces of gold as of August, 2013. This opportunity is implied by Knick Exploration Inc.'s latest studies.

So far, the company has established a series of drill targets aiming at developing a resource on strike of the Marban deposit adjacent to the west of Knick's East-West property. Tracing the marbenite fault within its East-West property this summer became a milestone for the company. It strongly believes that the potential extension of the Marban mines footwall zone, within the Marban geological corridor, host to the marbanite fault, continues toward and onto the western portion of Knick's East-West property. The corridor and specifically the marbenite fault traversing the East-West property have indicated their gold-bearing nature on the property by surface gold showing distributions, which encompass a width of 600 metres.

Knick is not looking for the typical quartz gold veining, although veining is a welcome bonus; however, a massive geological unit, according to the company's recent review of the 2009 to 2011 drilling campaign and associated fieldwork, offers a series of prospective drill targets with potential for outlining a near-surface resource.

The compilation of the drill targets, to be published in early December, will reflect key knowledge and understanding of mineralized trends and potential zone extensions. These trends and extensions are already supported by drilled intervals and detailed magnetic data. Additional targets are also in place at depth and further along strike of the known gold mineralization. Knick is preparing a fundraising effort through the offering of eligible units of Quebec flow-through shares. The use of proceeds from that financing will be aimed mostly at drill testing the Marban mines footwall extension on its East-West property.

The East-West property is located along the Trans-Canada Highway of the Val d'Or-Malartic mining camp in Quebec, Canada. The property is sandwiched between Osisko Royalties/Niogold Mining Corp., Marban deposit, to the west, and Wesdome Gold Mines, Kiena mine complex, to the east.

Currently the company is receiving enjoyment from the continuing research on this gold project. Niogold/Osisko Royalties' project has a combined total of 1,531,000 ounces of gold (NI 43-101 updated mineral resource technical report, Marban block property, Quebec, Canada, prepared for Niogold Mining, Aug. 15, 2013, effective date June 1, 2013, by Michael M. Gustin, CPG, and Peter Ronning, PEng, Section 14.16, page 151).
We seek Safe Harbor.

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.