Kiska expands mineralization at Island Mountain in Alaska - Proactive Investors USA & Canada
Kiska Metals (CVE:KSK) announced Wednesday that recently received drill results have extended mineralization on the Island Mountain prospect at its Whistler project, located 160 kilometres northwest of Anchorage, Alaska.
To date, 18 holes totaling 5,700 metres have been drilled at Island Mountain, mainly on east-west oriented drill sections, and spanning a north-south strike extension of about 700 metres.
The area is defined by large areas of gold-and-copper-bearing mineralization, and remains open to the south. However, Kiska said it opted to focus to the north of these areas, consistent with surface mapping that indicated intense increases in mineralization and volume in that direction.
Hole IM11-018, drilled in the Breccia zone, which was first discovered in 2009, was collared 100 metres west of hole IM10-013, which intersected 114.9 metres at 1.25 grams per tonne (g/t) gold and 0.23% copper at the end of the 2010 season.
The latest hole intersected 375 metres grading 0.42 g/t gold, 1.5 g/t silver, and 0.07% copper, including 162 metres at 0.64 g/t gold, 2.54 g/t silver, 0.12% copper, and including 135 metres at 0.73 g/t gold, 2.49 g/t silver, and 0.11% copper.
These results out of hole IM11-018 extend the Breccia zone 100 metres to the west, with the target having now been intersected over a 250-metre by 150-metre area, to depths of 400 metres, Kiska said.
In March, the company completed an airborne EM-geophysical survey, which detected areas of gold mineralization. The results of the survey outline several anomalies, including the Tea Cup anomaly and the Super Conductor (SC) anomaly.
Drilling on these areas found 154 metres grading 0.19 g/t gold, 0.27 g/t silver, and 0.04% copper, including 21 metres at 0.5 g/t gold, 0.29 g/t silver, and 0.05% copper, in hole IM11-021.
Assays from hole IM11-017 returned 0.14 g/t gold, 0.63 g/t silver, 0.05% copper over 261 metres, including 35.5 metres at 0.48 g/t gold, 0.97 g/t silver, and 0.04% copper.
"Island Mountain continues to deliver excellent results," commented vice president of exploration, Mark Baknes.
"In addition, prospects such as the SC underline the size of the mineralizing system and the possibility of other equally robust mineralized centres."
Kiska said it will continue to expand beyond the 18 holes it has already completed, with plans to continue drilling with two rigs at Island Mountain into October, or as long as weather permits, it said.
The Whistler deposit currently holds an NI 43-101 compliant resource of 79.2 million tonnes averaging 0.51 g/t gold, 1.97 g/t silver, and 0.17% copper, for 2.25 million ounces of gold equivalent in the indicated category, and 145.8 million tonnes averaging 0.4 g/t gold, 1.75 g/t silver, and 0.15% copper in the inferred category, for 3.35 million ounces of gold equivalent.
The Toronto-based, Alaska-focused exploration company's shares were unchanged on the TSX-Venture Exchange as of 10:22 am EDT, having closed at 58-cents each on Tuesday.
14 Sep, 2011--
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