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Kaminak's Coffee at 3.23 moz Au inferred
2012-12-13 09:48 ET - News Release
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Mr. Rob Carpenter reports
KAMINAK REPORTS MAIDEN INFERRED MINERAL RESOURCE ESTIMATE OF 3,236,000 OUNCES OF GOLD AT THE COFFEE PROJECT, YUKON
Kaminak Gold Corp.'s maiden National Instrument 43-101 mineral resource estimate on the Coffee gold project, Yukon, Canada, is 64 million tonnes grading 1.56 grams per tonne gold (g/t Au) for 3,236,000 ounces of gold at a base case cut-off of 0.5 g/t Au for oxide and transitional material and a one g/t Au cut-off for sulphide material. The Company presently has C$16 million in cash and no debt and is fully funded for its planned 2013 exploration program. Images of the block model at various cut-off grades are available on the Kaminak website at www.kaminak.com.
Table 1: Coffee Gold Project NI 43-101 Inferred Mineral Resource Statement at Base Case Cut-Off, and for comparative purposes the 1g/t Au and 1.5g/t Au cut-off is also shown.--------------------------------------------------------------------------- Gold Cut Off Tonnage Gold Grade Total Gold (g/t Au) (tonnes) (g/t Au) (Ounces)---------------------------------------------------------------------------Base Case Cut Off: Oxide 0.5 28,078,000 1.64 1,481,000Transitional 0.5 31,313,000 1.41 1,418,000Sulphide 1.0 5,030,000 2.08 337,000TOTAL Base Case Cut Off 64,421,000 1.56 3,236,000--------------------------------------------------------------------------- 1.0g/t Au Cut Off: Oxide 1.0 15,553,000 2.39 1,193,000Transitional 1.0 15,936,000 2.08 1,065,000Sulphide 1.0 5,030,000 2.08 337,000TOTAL 36,519,000 2.21 2,595,000--------------------------------------------------------------------------- 1.5g/t Au Cut Off: Oxide 1.5 9,343,000 3.16 949,000Transitional 1.5 8,842,000 2.77 787,000Sulphide 1.5 2,889,000 2.71 252,000TOTAL 21,074,000 2.93 1,988,000---------------------------------------------------------------------------
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