CALGARY, Alberta, Sept. 06, 2017 (GLOBE NEWSWIRE) -- Kevin Nephin, President and CEO of Kestrel Gold Inc. (“Kestrel”) (TSX-V:KGC) states: “Kestrel acquired the Clear Creek property for its potential to host bulk tonnage gold mineralization as well as high grade gold mineralization, exemplified by historic results from the Eiger Zone including reverse-circulation drill intersections of up to 88.0m of 0.65 g/t Au bottoming in 3.0m of 1.29 g/t Au and individual grab samples with peak values to 319.5 g/t Au. Kestrel’s 2017 fieldwork encountered a variety of mineralization styles with a peak rock sample value of 100.1 g/t Au confirming our faith in the property and leading Kestrel to commence planning a reverse circulation drill program on the property.”
The road accessible Clear Creek property is located along the Left Fork of Clear Creek which is the site of extensive past and present placer mining activity. The property is located approximately 60 kilometres west of Victoria Gold’s Eagle Gold Project and 55 kilometres southeast of Golden Predator’s Brewery Creek Project.
The 2017 field program focused on the Eiger and Saddle Zones. Work within the Eiger intrusion identified numerous styles of mineralization including: sheeted quartz-arsenopyrite veins up to 0.60m in width with peak representative grab sample values of 100.1 g/t Au, sheared diorite with disseminated arsenopyrite with a peak chip sample value of 8.26 g/t Au across 1.0m, quartz-pyrite-arsenopyrite breccia veins returning peak values of 2.41 g/t Au, and weakly mineralized clay altered diorite which returned a peak chip sample value of 1.48 g/t Au across 1.3m. Sedimentary rocks adjacent to the west side of the Eiger intrusive were also found to be significantly gold-bearing. Samples of silicified quartzite cut by sheeted quartz veins returned a peak value of 7.18 g/t Au, a representative grab sample of bleached quartzite with disseminated pyrite and arsenopyrite returned 1.8 g/t Au, and a grab sample of a quartz arsenopyrite vein cutting quartzite returned 1.19 g/t Au. A total of 9 reconnaissance style soil samples taken in the area of the sediment-hosted mineralization returned an average of 578 ppb Au with a peak of 1,550 ppb Au. A combination of historical soil samples with greater than 140 ppb to a peak of 4,383 ppb Au and the aforementioned bedrock and soil geochemical gold values indicate the Eiger Zone consists of intrusive and sediment hosted gold mineralization with an aerial extent of approximately 500 by 375 metres.
Work at the Saddle Zone consisted of soil sampling and prospecting which returned peak values to 938 ppb Au from soil samples and 5.59 g/t Au from rock samples. These results, combined with historical values of from 70 ppb to 2,023 ppb Au in soil, 0.4 g/t Au over 55.0m and 2.11 g/t Au over 25.0m from trench sampling and 1.24 g/t Au over 22.86m from reverse circulation drilling, suggest an approximately 300m x 950m east-west trending gold bearing mineralized zone open in both strike directions.
Elevated gold values from the Clear Creek property are strongly correlative with anomalous bismuth-arsenic values and to a lesser extent tungsten values. This geochemical signature and associated geological setting indicate the mineralized zones at Eiger and Saddle fit the intrusion related gold deposit model.
Kevin Nephin, President and CEO of Kestrel Gold, states: “Our 2017 exploration program further defined and constrained the Eiger and Saddle Zones resulting in the identification of compelling drill targets on both zones which we look forward to being in position to test with a reverse circulation drill program potentially as early as this fall.”
Carl Schulze, P.Geo., is the Qualified Person, in accordance with NI 43-101 of the Canadian Securities Administrators, and has reviewed and approved the technical content of this press release.
