Tickers: XTSX:KNX
Tags: Mining
Val-d'Or, Quebec, / TheNewswire / November 19, 2015 - Knick Exploration Inc. (TSX-V: KNX).
Not many Mining exploration companies have the opportunity to drill test for a potential near surface resource adjacent to a property that contains combined resources of 1.531 million ounces of gold as of August 2013 (reference? NI 43-101). This opportunity is implied by Knick's latest studies. So far we have established a series of drill targets aiming at developing a resource on strike of the Marban deposit adjacent to the west of Knick's East-West property. Tracing the Marbenite fault within our East-West property this summer became a milestone for us.
We strongly believe that the potential extension of the Marban Mines footwall zone, within the Marban geological corridor, host to the Marbanite fault, continues toward and onto the western portion of Knick's East-West property. The corridor and specifically the Marbenite fault traversing the East-West property have indicated their gold bearing nature on the property by surface gold showing distributions which encompass a width of 600 meters.
Knick is not looking for the typical quartz gold veining, although veining is a welcome bonus, however at a massive geological unit that according to our recent review of the 2009-2011 drilling campaign and associated field work offers a series of prospective drill targets with potential for outlining a near surface resource.
The compilation of the drill targets, to be published in early December, will reflect key knowledge and understanding of mineralized trends and potential zone extensions. These trends and extensions are already supported by drilled intervals and detailed magnetic data.
Additional targets are also in place at depth and further along strike of the known gold mineralization.
Knick is preparing a fundraising effort through the offering of "eligible units" of Quebec flow-through shares. The use of proceeds from that financing will be aimed mostly at drill testing the Marban Mines footwall extension on our 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 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.
Currently we're receiving enjoyment from the continuing research on this gold project.
NioGold-Osisko Royalties project has a combined total of 1.531 million ounces of gold (reference? NI 43-101) .
References: ?NI 43-101 Updated Mineral Resource Technical Report, Marban Block Property, Quebec, Canada prepared for Niogold Mining Corporation, August 15, 2013, Effective date June 1, 2013, by Michael M. Gustin CPG and Peter Ronning, P. Eng, section 14.16, page 151.
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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