NR - strong drill resultsKiska Intersects 100 metres of 1.37 g/tgold and 54.2 g/t silver (2.29 g/t gold-equivalent) at Island MountainProspect, Whistler Project, Alaska
VANCOUVER, Nov. 8, 2011 /CNW/ -
Kiska Metals Corporation ("Kiska" or"the Company") reports additional drill results from the IslandMountain prospect, Whistler Project, located 160 km northwest ofAnchorage, Alaska. Results include hole IM11-034 in the Breccia Zone,which averaged 2.29 g/t gold equivalent (1.37 g/t gold, 54.19 g/tsilver and 0.04% copper) over 100 metres within a 364.5 metre intervalthat averaged 0.84 g/t gold equivalent (0.53 g/t gold, 15.3 g/t silverand 0.03% copper). Additionally, broadly spaced exploration holes upto 400 metres north of hole IM11-034 have revealed new zones ofmineralization, including a 73.9 metre interval in hole IM11-030 thatreturned 0.92 g/t gold equivalent (0.72 g/t gold, 2.24 g/t silver and0.09% copper).
Drilling at Island Mountain has now successfullyoutlined gold and gold-copper mineralization over a 300 by 300 metrearea, to a depth of 500 metres. Reconnaissance drilling north of theBreccia Zone indicates potential for further expansion or thedefinition of new zones of gold mineralization.
The results of hole IM11-034 are encouraging in that they indicateincreasing width and grade of the zone as compared to the equivalentbreccia intersected 100 metres to the west in hole IM11-026 (127 metresof 0.76 g/t gold equivalent - previously released).
The stronglymineralized holes on section 7850N (IM11-026, 034) are the mostnortherly in the area of concentrated drilling leaving a large areaopen to expansion. Results indicate a decrease in copper values tonorth and a corresponding increase in gold, and locally, silver.
"These latest results are giving us confidence that we have a coherentzone of mineralization that we can expand with further drilling. Ourreconnaissance holes to the north have also returned significantresults from different styles of mineralization that underscore thatthe system at Island Mountain is large, robust, and dynamic but mostimportantly, capable of producing significant gold grades." statedJason Weber, CEO of Kiska Metals.
Breccia Zone "Step out" Drilling
IM11-034 was collared approximately 100 metres west of and beneath holeIM11-026 on section 7,850N. The hole ended in mineralization, with theentire interval below 138 metres averaging 0.84 g/t gold equivalent(0.53 g/t gold, 15.3 g/t silver, 0.03% copper) over 364.5 metres.Mineralization occurs in an upper breccia-associated interval thataveraged 2.29 g/t gold equivalent over 100 metres and a lower zone ofdisseminated and vein pyrrhotite mineralization that averaged 0.43 g/tgold equivalent over 72 metres.
A single 1.5 metre sample of awell-developed fault zone in the breccia section returned 3,530 g/tsilver in association with 1.68 g/t gold and 0.85% copper. The impactof this high silver bearing sample is significant in the calculation ofthe weighted averages. However, as this is an exploration hole and itis believed that the sample does represent a high grade structure, thesilver results have not been capped.
Plan maps and cross sections canbe found at the Company website,
https://www.kiskametals.com/s/Whistler.asp?ReportID=405126.
Summary of Breccia Zone Mineralized Drill Intercepts
| | | | | | | | | | | | | | | | | | | | | | |
| Hole | | | From
(m) | | | To
(m) | | | Interval
(m) | | | Au
(g/t) | | | Ag
(g/t) | | | Cu
(%) | | | Au Eq*
(g/t) |
| IM11-034 | | | 138.1 | | | 502.61 | | | 364.51 | | | 0.53 | | | 15.30 | | | 0.03 | | | 0.84 |
| Including | | | 213.0 | | | 313.0 | | | 100.0 | | | 1.37 | | | 54.19 | | | 0.04 | | | 2.29 |
| Including | | | 370.0 | | | 442.0 | | | 72.0 | | | 0.37 | | | 0.40 | | | 0.03 | | | 0.43 |
*Gold equivalent calculations do not take into account metallurgicalrecoveries and are based on in ground metal using metal prices of $990per ounce gold, $15.40 per ounce silver and $2.91 per pound copper.
1End of Hole - hole ended in mineralization
Reconnaissance Holes North of Breccia Zone
Seven exploration holes were drilled from locations 200 to 400 metresnorth of the Breccia Zone sections. This reconnaissance drilling wassuccessful in identifying gold mineralization, including a new style ofmineralization characterized by high pyrite and silver values thatyielded a 73.9 metre interval averaging 0.92 g/t gold equivalent (0.72g/t gold, 2.24 g/t silver and 0.09% copper) at the bottom of IM11-030,within a broad zone of mineralization averaging 0.49 g/t goldequivalent over the last 167.9 metres of the hole. Near the top of thehole, a shallow 43.0 metre-long interval of breccia mineralizationaveraged 0.40 g/t gold equivalent over 43.0 metres. Hole IM11-28, wasdrilled from the same collar location, but at an azimuth of 060degrees, versus 090 degrees in IM11-030. This hole intersected the samezone near surface, returning 0.40 g/t gold equivalent over 45.6 metres.IM11-029 was collared approximately 300 metres to the west of holes 028and 030, intersecting intrusive breccia with strong sulphideconcentrations. A 6.7 metre interval of breccia mineralization at thebottom of this hole averaged 3.35 g/t gold.
Holes IM11-033 and 035 were drilled from the same location 400 metresnorth of the Breccia Zone at inclinations of -45 and -55 degrees andwere designed to test the Falcon's Nest breccia. IM11-033 intersected a55.2 metre interval that averaged 0.51 g/t gold equivalent while 035returned the same gold grades over a 41.0 metre width. Holes IM11-031and 032 in the same area intersected largely unmineralized intrusivebreccias with sporadic to weak gold values.
Summary of Mineralized Reconnaissance Drill Intercepts
| | | | | | | | | | | | | | | | | | | | | | |
| Hole | | | From
(m) | | | To
(m) | | | Interval
(m) | | | Au
(g/t) | | | Ag
(g/t) | | | Cu
(%) | | | Au Eq*
(g/t) |
| IM11-028 | | | 12.0 | | | 57.6 | | | 45.6 | | | 0.27 | | | 0.84 | | | 0.05 | | | 0.38 |
| IM11-029 | | | 317.3 | | | 324.0 | | | 6.7 | | | 3.35 | | | 1.07 | | | 0.01 | | | 3.39 |
| IM11-030 | | | 20.0 | | | 63.0 | | | 43.0 | | | 0.32 | | | 1.12 | | | 0.03 | | | 0.40 |
| And | | | 333.0 | | | 500.91 | | | 167.91 | | | 0.37 | | | 1.32 | | | 0.05 | | | 0.49 |
| Including | | | 364.1 | | | 438.0 | | | 73.9 | | | 0.72 | | | 2.24 | | | 0.09 | | | 0.92 |
| IM11-032 | | | 246.0 | | | 300.0 | | | 54.0 | | | 0.29 | | | 0.28 | | | 0.01 | | | 0.33 |
| IM11-033 | | | 2.8 | | | 58.0 | | | 55.2 | | | 0.41 | | | 1.54 | | | 0.03 | | | 0.51 |
| Including | | | 2.8 | | | 42.0 | | | 39.2 | | | 0.56 | | | 1.18 | | | 0.02 | | | 0.62 |
| IM11-035 | | | 3.0 | | | 44.0 | | | 41.0 | | | 0.44 | | | 2.19 | | | 0.03 | | | 0.53 |
*Gold equivalent calculations do not take into account metallurgicalrecoveries and are based on in ground metal using metal prices of $990per ounce gold, $15.40 per ounce silver and $2.91 per pound copper.
1End of Hole - hole ended in mineralization
East Slope Drill Holes
Hole IM11-027 was collared approximately 200 metres south of section7,600N on the east facing slope of Island Mountain to test for theextensions to the pyrrhotite-associated gold zones defined on sections7,600N and north. This hole returned a 32 metre intercept of 0.36 g/tgold equivalent.
Summary of East Slope Mineralized Drill Intercepts
| | | | | | | | | | | | | | | | | | | | | | |
| Hole | | | From
(m) | | | To
(m) | | | Interval
(m) | | | Au
(g/t) | | | Ag
(g/t) | | | Cu
(%) | | | Au Eq*
(g/t) |
| IM11-027 | | | 197.0 | | | 229.0 | | | 32.0 | | | 0.32 | | | 0.25 | | | 0.02 | | | 0.36 |
*Gold equivalent calculations do not take into account metallurgicalrecoveries and are based on in ground metal using metal prices of $990per ounce gold, $15.40 per ounce silver and $2.91 per pound copper.
Kiska has now concluded drilling at Island Mountain for the 2011 seasonwith the onset of winter conditions, having drilled a total of 9537metres in 26 holes. In addition to pending results from six holes atIsland Mountain, final assays for targets in the Whistler Orbit(Raintree West, North and South targets and the Rainmaker target) andMuddy Creek are near completion and will be released as soon aspossible.
Qualified Person Statement
The content of this release has been reviewed by Mr. Mark Baknes, M.Sc.,P. Geo., VP Exploration of Kiska Metals. Mr. Baknes is a QualifiedPerson as defined under the terms of National Instrument 43-101. Coresamples were prepared for assay at ALS Chemex Labs in Fairbanks,Alaska, and analyzed for multiple elements at ALS Chemex Labs in NorthVancouver, British Columbia.
About Kiska Metals Corporation
Kiska Metals Corporation is a mineral exploration company focused onadvancing the Whistler property, Alaska, a district-scale project withexcellent exploration potential which includes the Whistler Deposit (a2.25 M oz gold-equivalent indicated resource of 79.2 million tonnesaveraging 0.51 g/t gold, 1.97 g/t silver and 0.17% copper and a 3.35 Moz. gold equivalent inferred resource of 145.8 million tonnes averaging0.40 g/t gold, 1.75 g/t silver and 0.15% copper). Kiska has renownedtechnical expertise and a quality exploration portfolio with numerousearly stage exploration opportunities around the world, some held inpartnership with a selection of the world's largest and most successfulgold and base metal producers.