Kermode Resources Ltd V.KLM

News out today $KLM, first LiDAR scan from RYE PATCH SILVER

[Newton1234]

 $KLM news out, fyi @Ok1969. https://cdn-ceo-ca.s3.amazonaws.com/1grk5gi-2021-12-15-KLM-Draft%20NR%20Mine%20LiDAR%20Initial%20Results.pdf -- Initial Results of LiDAR for Rye Patch Silver Mine +15,000 Tonnes Victoria, British Columbia - (December 15, 2021) - Kermode Resources Ltd. (TSXV: KLM) ("Kermode" or the "Company") reports new results detailing the amount of historical mining activity at the Rye Patch Silver Mine (the “Mine”) under LOI from Gold Range Company LLC in Nevada, USA. Initial LiDAR scanning is complete for part of one stope on the 5506 level of the historic underground mine. The inferred tonnage of mined material from this void exceeds sixteen thousand (16,000) metric tonnes. All LiDAR scanning is being conducted by Carrington Consulting using a state of the art GeoSLAM, Horizon handheld LiDAR scanner. View the scan online at this link, https://tiny.cc/KLMviewer This volume does not include currently inaccessible and backfilled stopes. Backfilling of the stopes is quite extensive, as it not only provided critical ground support but also made it possible for miners to dispose of waste underground without the expense, time and effort to transport waste rock to the surface. There are additional stopes that Kermode has not been able to access yet on the 5506 level stoping is known to be extensive on at least two other levels in the mine. The total size of the Rye Patch Mine remains unknown. Details of Tonnage Calculations Scans of the stopes accessible from the 5506 level of the Rye Patch mine have shown an indicated volume of more than 5,547 cubic yards indicating that more than 16,000 metric tonnes or roughly 18,000 imperial tons of ore were extracted from just this one stope. These results were calculated by sectioning the LiDAR scan of the workings and creating approximately 200 different cross-sections on one (1) metre intervals to estimate the volume of the stopes, excluding access and haulage drifts in the old workings. Initial results for part of this one stope from this one level exceed the total life-of-mine production reported for the Rye Patch Mine from 1871-1881, which is when we believe the stope we have scanned was mined. The Rye Patch Mine was reported to have produced 13,605 imperial tons with a recovered value of $644,626 between the years of1871 and 1881, as in Couch, B.F., and Carpenter, J.A., 1943, Nevada’s mineral and metal production (1859–1940, inclusive): Nevada Bureau of Mines and Geology Bulletin 38 (originally published as the University of Nevada Bulletin, v. 37, no. 4, pages 125 & 126). All of the historical work and conclusions described above were carried out by arm’s length third parties. Kermode has no information about the mining or assay methods used and, given the time frame, considers it unlikely that historical work was carried out under the supervision of a Qualified Person as that term is defined in NI43-101. These historical records should not be relied upon without further work being carried out at and around the Project under the supervision of a Qualified Person. Preliminary Geological Inference Download all the LAZ files and cross-sections online at this link, https://tiny.cc/RyePatchLAZ Based on the available stope configuration shown in a subset of cross-sections (S-0-2-48-9 through S-0-2-48-48-17), silver mineralization on the 5506 level appears to have been controlled by at least three semi-parallel, moderate to steeply east-dipping structures with mineralized folded beds in the hanging wall. Peter Bell CEO commented, “The main part of the first stope we have scanned on the 5506 level shows an easterly dip, which matches the fact that the underground mine workings are to the east of the surface expression of the vein. However, there were some surprises with this initial scanning in the form of what appear to west-dipping stopes. Reconnaissance work has shown that a westerly dip is common in stopes at the lower levels of the mine, but this is the first time such a westerly dip has been observed in a stope at the 5506 level. These different orientations for stope geometry may indicate exploration target at the intersection of these geological structures. I look forward to scanning the other levels of the mine to build a thorough 3D model.” The Rye Patch Mine Project The Company holds an LOI to lease the Rye Patch Mine from Gold Range LLC as in the news release dated December 3rd, 2021. The Project includes the Alpha patent that covers the historic Rye Patch Silver mine in Nevada, which based on data provided in Couch, B.F., and Carpenter, J.A., 1943, Nevada’s mineral and metal production (1859–1940, inclusive): Nevada Bureau of Mines and Geology Bulletin 38 (originally published as the University of Nevada Bulletin, v. 37, no. 4, pages 125 & 126), produced 13,605 imperial tons with a recovered value of $644,626 between the years of1871 and 1881. At then prevailing silver prices this would equate to a life of mine average grade of approximately 36.6 ounces per short (imperial) ton or 1,252 grams per metric tonne. QA - QC After assessing mine workings for accessibility and safety, suitable surface and underground control stations are established prior to scanning to allow geologists to accurately reoccupy and tie to this control for subsequent mapping and sampling programs. LiDAR scanning is then performed using the highly portable, handheld Horizon LiDAR scanner manufactured by GeoSLAM of the United Kingdom. Collecting 300,000 data points per second. The resulting point cloud provides an unequaled, cost-effective 3D model of mine workings anywhere in the “line of sight” within 100 metres of the operator. Processing and registration of multiple scans results in highly accurate, composite 3D models of the scanned areas. Vertical and horizontal sections are constructed as necessary for the intended applications, which in the case of the 5506 level of the Rye Patch Mine, included vertical cross-sections on 1 metre intervals and horizontal (map) sections at nominal 1 metre height suitable for future mapping of geology and sample locations. Volumes were estimated by digitally measuring the cross sectional area of the scanned stopes as determined by sectioning the point cloud. Because not all point clouds could effectively “close off” the entire stoped area do to safety or access, areas which could not safely be scanned were omitted from these initial volume estimates as were the many areas of back filled stopes and underground workings such as haulage drifts, cross cuts, and other workings judged to be for access and not for extraction of mineralization. The resultant volume of the “search envelope” for each section was then calculated in cubic metres, in this case the search envelope projected ½ metre on either side of the section such that the number of cubic metres was equal to the sectional stope area. Tonnage was then estimated by multiplying the cummulative sectional volume by the estimated specific gravity of the type of material that appeared to have been extracted. In this case dense, silica flooded shaley limestone with an estimated specific gravity of 2.96. Qualified Person The technical information in this news release has been reviewed and approved by Mr. Robert G. Carrington, P. Geo, a Qualified Person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards. About Kermode Kermode is a junior mining company hunting for exploration opportunities around the world. On Behalf of the Board of Directors, KERMODE RESOURCES LTD "Peter Bell" President/CEO For further information please contact: Tel: [phone] Email: [e-mail] Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statements This news release contains statements that constitute "forward-looking statements" within the meaning of applicable Canadian and United States securities legislation (collectively herein referred to as "forward-looking information"). Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause Kermode actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Forward-looking statements in this document includes statements, but is not limited to results, analyses and interpretations of exploration and drilling programs; our grassroots exploration program, our mining (including mining methods), expansion, exploration and development activities, geological and mineralization interpretations and the plans, results, costs, and timing thereof. Although Kermode believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by their nature forward-looking statements involve assumptions, known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions the effect of a pandemic and particularly the COVID-19 outbreak as a global pandemic on the Company's business, financial condition and results of operations and the impact of the COVID-19 outbreak on our workforce, suppliers and other essential resources and what effect those impacts, if they occur, would have on our business, financial condition and results of operations; assumptions regarding expected capital costs, operating costs and expenditures, production schedules, economic returns and other projections; ; adverse industry events; future legislative and regulatory developments in the mining sector; the Company's ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of Kermode to implement its business strategies; competition; and other assumptions, risks and uncertainties. This list is not exhaustive of the factors that may affect any of our forward-looking information. Although we have attempted to identify important factors that could cause actual results, actions, events, conditions, performance, or achievements to differ materially from those contained in forward-looking information, there may be other factors that cause results, actions, events, conditions, performance, or achievements to differ from those anticipated, estimated or intended. The forward-looking information contained in this news release represents the expectations of the company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws. #xref @Newton/my-first-interview-klm-newtondeals @newton/my-first-news-release-klm-newtondeals #NVmining #RobertCarrington