Tickers: XTSX:KNX
Tags: Mining
Val-d'Or, Quebec / TheNewswire / December 23, 2015 - Knick Exploration Inc. (TSX-V: KNX) Knick is pleased with its neighbour's, Niogold (NOX), latest encouraging drill results on the Marban property where near surface resources are being developed along the "Golden Highway". This opportunity is manifested on Knick's East-West property by the company's latest studies. So far we have established a series of drill targets aiming at developing a resource on the East-West property along strike of the Marban deposit. The Marban deposit is situated adjacent to the west of our property. Tracing the Marbenite fault within Knick's East-West property this summer has been a milestone for us.
After an intensive program of geological modelling this year, Knick is ready to commence drilling on the East-West property. The focus of the drilling will be on the Marbranch corridor, where several holes can be drilled in the short term, on a limited budget of $100,000 to $150,000 scheduled financing pending.
--Knick has identified 10 particular historical drill holes inside the property which show a possibility of defining gold mineralization over significant widths, in the range of 15 to 80 metres, with grades varying from 0.5 grams of gold per tonne up to 8 grams of gold per tonne (reference? NI 43-101)..
--The historical sampling was of incomplete core intervals representing between 10 to 70% of core length. Systematic sampling of new core is required to confirm historical mineralized intervals.
--The drilling program area planned on the Marbranch corridor is located between 250 metres and 400 metres from the northwestern corner of the property. Geophysical signatures associated with the drill hole area indicate potential drill targets continue up to at least 600 meters eastward along strike.
A recent Niogold (NOX) press release (Dec. 8, 2015, NioGold reports final drill results at Marban) with results from a series of infill holes on the Marban zone indicating the extension of their shallow mineralization, ranges between 1.55g/t and 56.45 g/t and over 1.00 m and 66.6m, down to 200 metres. The extension of the Marban Zone is now at less than 300 metres from the East-West property limit following an east to southeast trend (see sketch appended). This east to southeast geological corridor offers key drilling targets and confirms our latest studies.
The general geological context of the Marbranch corridor of the East-West Property appears at first review similar to the Marban deposit with most of the gold mineralization evaluated in the form of veins swarms enclosed in altered basalt with sporadic disseminated pyrite and as vein gold mineralization. The inclusion of mineralized gold bearing host rock has potentially changed both the Marban and East-West properties positively. The East-West drilling will also offer the possibility of verifying if other parallel zones of mineralization of potential significant widths are located within this area of the Marbranch corridor.
The property was initially drilled for high grade quartz veins and these holes were not sampled in most of the cases along long intervals. As an example, the particular 10 historical drill hole intervals identified have been sampled at the level of 15 to 67% of the core lengths in the implied historical mineralization envelope.
The approach now chosen by Knick focuses on the identification of wide mineralized intervals based on a deformation and alteration context. The recent core observations demonstrated that altered basalts units affected by alteration, minor quartz veining, and occasionally pyritization, is the preferred environment for wide gold enrichment zones.
The following table outlines actual results from the 10 particular drill holes identified, highlighting the percentage of core length historically sampled, and the averaged gold obtained over the indicated widths, with the un-sampled lengths of the core considered at zero grams per tonne. Thus, they represent a potential upside if targeted areas could be re-assessed by drilling.
---------------------------------------------------- |Hole |From |To |Grade|Core |Interval| |Number |(meters)|(meters)|(g/t |Length |sampled | | | | |Au) |(meters)|(%) | |--------------------------------------------------| |CD-20 |146,61 |167,18 |1.20 |20,57 |18 | |--------------------------------------------------| |CD-55 |102,26 |146,76 |5.60 |44,50 |15 | |--------------------------------------------------| |CD-78 |125,27 |160,93 |9.00 |35,66 |15 | |--------------------------------------------------| | | | | | | | |--------------------------------------------------| |CD-140 |56,39 |84,12 |0.79 |27,73 |26 | |--------------------------------------------------| |CD-142 |94,03 |131,37 |1.65 |37,34 |22 | |--------------------------------------------------| |CD-149 |100,89 |142,49 |4.30 |41,60 |12.5 | |--------------------------------------------------| |CD-156 |163,5 |201,17 |8.0 |37,60 |10 | |--------------------------------------------------| |CD-169 |208,94 |227,69 |0.61 |18,75 |58 | |--------------------------------------------------| |CD-172 |66,75 |83,67 |6.70 |16,92 |21 | |--------------------------------------------------| |CD-84-10|80,47 |160,93 |0.80 |80,46 |59 | |--------------------------------------------------| | |80,47 |106,68 |2.15 |26,21 |67 | ----------------------------------------------------
All 10 holes are located in the western area of the East-West property. The area is referred to as the "Marbranch" and lies along strike from and is suggestive of an extension of the Marban deposit.
Additional targets are also in place at depth and further along strike of the known gold mineralization.
Presidental Comments:
As mentioned previously, Knick is now focusing on the identification of wide gold mineralisation intervals based on a deformation and alteration context which now offers us a wider range of targets. We hope to drill the central and southern portion of this corridor we call the Marbranch. The Marbranch has a total corridor width of 600 meters North-South combined with an East-West strike length of 700 meter on our property which makes it a substantially sized geologically favourable environment to achieve our goals of developing a gold resource on the East-West property.
Fundraising:
Knick is presently doing 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.
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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.
The mineralization hosted on, and the results obtained from the NioGold property, do not suggest that similar mineralization or results will be obtained on the Company's property.
We are currently 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.
?NI 43-101, Up Dated, Technical Report on The East-West Property, Knick Exploration Inc., June 25, 2013 by Donald Theberge, Eng., MBA.
Knick press releases are available in the news room on Knick's web site at www.knick.ca
------------------------------------------------------------------------------------------------------------- |Marban Block Measured Resources | | | | | | | | | |-----------------------------------------------------------------------------------------------------------| |Marban Block | |Kierens | | |Norlartic| | |Totals | | | |-----------------------------------------------------------------------------------------------------------| |Tonnes |g Au/t |oz Au |Tonnes |g Au/t |oz Au |Tonnes |g |oz Au |Tonnes |g |oz Au | | | | | | | | |Au/t| | |Au/t| | |-----------------------------------------------------------------------------------------------------------| |6,560,000 |1.40 |296,000 |nil |nil |nil |nil |nil |nil |6,560,000 |1.40|296,000 | |-----------------------------------------------------------------------------------------------------------| | | | | | | | | | | | | | |-----------------------------------------------------------------------------------------------------------| |Marban Block Indicated Resources | | | | | | | | | |-----------------------------------------------------------------------------------------------------------| |Marban Block | |Kierens | | |Norlartic| | |Totals | | | |-----------------------------------------------------------------------------------------------------------| |Tonnes |g Au/t |oz Au |Tonnes |g Au/t |oz Au |Tonnes |g |oz Au |Tonnes |g |oz Au | | | | | | | | |Au/t| | |Au/t| | |-----------------------------------------------------------------------------------------------------------| |18,713,000|1.36 |818,000 |1,437,000|2.19 |101,000|5,417,000|1.82|316,000|25,567,000|1.50|1,235,000| |-----------------------------------------------------------------------------------------------------------| | | | | | | | | | | | | | |-----------------------------------------------------------------------------------------------------------| |Marban Block Measured plus Indicated Resources | | | | | | | | |-----------------------------------------------------------------------------------------------------------| |Marban Block | |Kierens | | |Norlartic| | |Totals | | | |-----------------------------------------------------------------------------------------------------------| |Tonnes |g Au/t |oz Au |Tonnes |g Au/t |oz Au |Tonnes |g |oz Au |Tonnes |g |oz Au | | | | | | | | |Au/t| | |Au/t| | |-----------------------------------------------------------------------------------------------------------| |25,273,000|1.37 |1,114,000|1,437,000|2.19 |101,000|5,417,000|1.82|316,000|32,127,000|1.48|1,531,000| -------------------------------------------------------------------------------------------------------------
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.
A qualified person has verified the data disclosed in drill logs and is included in the NI 43-101 by D. Theberge?. A search for historical drill core was performed. No historical core was located. Historical log documentation, field evidence as re-located casings at drill collar sites and particular twin holes completed by Knick (2009 and 2011) corroborate the existence of mineralization, geology and structures.
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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