Tickers: XTSX:KNX
Tags: Mining
Val-d'Or, Quebec / TheNewswire / September 29, 2015, - Knick Exploration Inc. (TSX-V: KNX) is pleased to report a new result obtained during the core re-examination and sampling activities on it's 100% owned East-West property. The East-West property is located along the Trans-Canada Highway of the Val d'Or-Malartic mining camp, Quebec, Canada. The property is sandwiched between great neighbours, Osisko Royalties (TSX-T: OR)/Niogold Mining Corp. (TSX-V: NOX); Marban deposit, to the west and Wesdome Gold Mines (TSX-T: WDO); Kiena Mine complex; to the east.
A routine sample taken on hole E-W-11-03 returned 41.9 g/t gold over 1.5 meters from 179.0 to 180.5 meters, down hole. The sample was obtained from a strongly carbonate-altered ultramafic unit marked by discrete quartz veining with disseminated pyrite. It contained visible gold in the quartz associated with tremolite. This mineral alteration is well known to be related to gold deposits throughout the Marbenite structural corridor. Further sampling is being completed above and below the intersection to verify the width of a potential gold anomalous envelope.
This new interval comes from a previously sparsely drill tested area. Only 5 holes crossed this potential structure and most of the surrounding area remains untested.
This new discovery highlights:
-Gold mineralization in the Marbenite fault system can be found in different geological contexts
(structure, host rocks, alteration ). It does not fit/relate to solely one model.
-Initial core sampling during the 2009 & 2011 drilling program was restrained to known targets, explaining why particular wide drill intervals were not initially sampled.
Presidential comment:
A better understanding of our neighbour's geology is giving Knick a wider range of gold exploration opportunities no longer limiting us to previously drilled targets. Multiple untested areas are being determined on a fast track basis near the NioGold/Osisko Royalties boundary, along the Kiena property limit and throughout the upper portion of the East-West property. This 1.6 km corridor of favourable geology offers lots of room for further discovery.
We believe it has not delivered its biggest secret /full potential to date and intend to find it.
Currently we're receiving enjoyment from the continuing research on this gold project.
NioGold-Osisko Royalties project has a combined a total of 1.2M ounces of gold for a total value of 1.4 Billion dollar U.S. (based on $1,200/ounce U.S.).
We also invite you to read the salient report covering Marban potential open pit by Cormark Securities Inc., March 26, 2015, Metals & Mining, NioGold Mining Corp., Strategic Ounces in the Malartic Camp, by Tyron Breytenbach, P. Geo. Link: http://coal-harbor.com/_resources/cormark_march_2015.pdf
Samples were sent to Expert Laboratory in Rouyn-Noranda, Quebec for analysis.
Fire assay and metallic sieve methods were implemented for analysis as deemed warranted.
Knick press releases are available in the news room on Knick's web site at www.knick.ca
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Gordon N. Henriksen, P.Geo., Vice President of Knick Exploration, is the Company's qualified person as defined by National Instrument 43-101. He has reviewed and approved the contents of this press release.
We seek Safe Harbour.
Forward-Looking Statements
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
This Press Release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties.
FOR MORE INFORMATION, CONTACT:
Jacques Brunelle Gordon N. Henriksen
President & CEO Vice President
Knick Exploration Knick Exploration
Val-d'Or, Quebec Val-d'Or, Quebec
819-874-5252 819-874-5252
819-856-1387 819-210-1406
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