News ReleaseLooks good.
Accumulation over past week, and now some news.
Great entry point.
Riddlethis
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Kent ExplorationInc.: Archean Star Announces 2nd Year Expenditures at Gnaweeda Gold Project,Diamond Drill Program (ccnm)
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 28, 2011) -Kent Exploration Inc(TSX VENTURE:KEX)(PINK SHEETS:KXPLF)(FRANKFURT:7KX) ("Kent") announcesthat Archean Star Resources Inc. ("Archean"), has reported that it has advisedTeck Australia Pty. Ltd.("Teck") that of the AUD$3,000,000 required under the Option Agreement betweenArchean and Teck to earn 100% of Teck's interest in the Gnaweeda Gold Project("Gnaweeda") at Meekatharra in the Murchison Gold District, Western Australia by November 30, 2013, it has expendedAUD$1,969,537 on property expenditures as of the second anniversary of the fouryear term Agreement. With approximately 10,000,00 common shares, or 35% of thecommon shares, Kent is the controlling shareholder of Archean.
Archean anticipates that, subject to market conditions and financing, it willcomplete the balance of the expenditures to earn 100% of Teck's interest inGnaweeda towards the end of the first quarter of 2012.
Archean has planned a nominal 3,000 meter diamond drill program at theapproximately 170 square km Gnaweeda property that is anticipated to commenceduring the first week of November,2011. Up to 6 diamond drill holes are to be drilled at the approximately2.5 km by 750 meter Turnberryzone in the north of the project area that will initially target three earlieridentified higher grade gold zones within the main Turnberry zone, including thezone where the Company intersected 3 meters grading 8.27 g/t Auand 22 meters grading 2.46 g/t Au in diamond drill hole TB003.
Archean reports this will be followed up with a nominal 6 hole diamond drillprogram at the approximately 1 km long Bunarra zone, approximately 18 km to thesouth of Turnberry, where at Bunarra central, diamond drill hole BN003intersected a gold bearing mineral suite identified asquartz-tourmaline-arsenopyrite-pyrite hosted in gabbro. Diamond drill hole BN003intersected 18meters at an average grade of11.71 g/t Au while hole BN005 intersected 79meters at an average grade of 0.31 g/t Au.
Archean states that re-logging of the Bunarra diamond drill core hasdetermined that in BN008, this same gold-bearing suite was intersectedapproximately 48 meters higher up than in BN003, from approximately 51 to 66meters downhole, in a mostly weathered and oxidized part of the zone. Thereported intersection further down BN008 of 7metersgrading1.19 g/t Au from 100meters to 107 meters down hole, including a1meterintersection grading7.3 g/tAu, differs from the BN003 intersection in that the gold is in a newlyrecognized mineral style at Bunarra, namely a quartz-chlorite-fluorite vein. Asfine grains of visible gold are present in the quartz veins inthis intersection, with the largest approximately.75 mm by 0.5mm in size, Archean intends to conduct a metallic screen re-assay onthis sample.
The Bunarra zone was originally interpreted to trend from the southwest tothe northeast and is now interpreted to consist of one or more parallel zonestrending from the north-northwest to the south-southeast. Historic workings arepresent approximately 500 meters along strike to the north-northwest and 700meters along strike to the south-southeast and the zone is open along strike andto depth, with an interpreted dip to the west.
Archean Star Resources Inc. is a junior exploration company that, through itswholly owned subsidiary, Archean Star Resources Australia Pty Ltd, has enteredinto an Option Agreement, subject to a 75% back in right, to earn 100% of TeckAustralia Pty Ltd's interest in Chalice Gold Mines Limited's Gnaweeda GoldProject in West Australia.
Kent Exploration Inc. is a junior exploration company that has acquired theAlexander River, Paparoa and Lyell gold projects in the highly prolific Reeftongold field in New Zealand andhas an approximate 35% interest in, and is the controlling shareholder of,Archean Star Resources Inc, ("Archean") which is listed on the TSX VentureExchange under the symbol ASP. Archean's wholly owned subsidiary, Archean StarResources Australia, Pty, Ltd, ("ASRA") has an Option Agreement, subject to a75% back in right, to earn 100% of Teck's interest in Chalice Gold MinesLimited's Gnaweeda Gold Project in West Australia.
The Company has an option to earn a 100%interest in the Silver Hills property, a silver/ lead/ zinc prospect insouth-eastern British Columbia.The Company has a 100% interest in Coal Prospecting Permits coveringapproximately 92,000 ha in east-central Saskatchewan; a 100% interest in a mining lease optionon the Flagstaff Mountain property, a barite-gold-silver-zinc- property in eastern Washington state, having afully permitted mine which is approved to produce up to 100,000 tons of bariteper year, a and a 100% interest in the mining lease option on the Ivanhoe Creekproperty, a Midas-style gold/silver target in Nevada's Carlin Trend, and 50% ofa 100% interest in the Ivanhoe Creek placer claims covering a bentonite deposit.
This News Release has been prepared on behalf of the Kent Exploration Inc.Board of Directors, which accepts full responsibility for its contents. Thisnews release has been reviewed by Dr. Clay M. Conway, Ph.D., P.Geol., aQualified Person as recognized by National Instrument NI-43-101 and a directorof the Company.
ON BEHALF OF THE BOARD
Graeme O'Neill, President
FOR FURTHER INFORMATION PLEASE CONTACT:
Graeme O'NeillKent Exploration Inc.President 604-684-3394 or Toll free: 1-866-399-65391-888-282-7763 (FAX)www.kent-exploration.com