Kapuskasing Gold (KAP-V) July 10, '14 is pleased to announce that it has added four new properties to its portfolio. Kapuskasing acquired all four properties by staking and thus holds a 100% interest in an additional 19,696 hectares in Ontario's newest gold camp. With this new land position, the Company now has six (6) separate but related exploration properties. New map can be viewed here: http://www.kapgold.com
The Company has also recently completed initial ground reconnaissance work on the Rollo and Borden North properties it acquired earlier this year and is set to commence its summer exploration activities.
Rollo Update (19,160 hectares)
On the Rollo property the Ontario Government documents 1948 and 1950 reports indicate visible gold at the Hanson Lake and Coppell Lake Occurrences. These occurrences are approximately 4 kilometers apart and mapping by the GSC indicate they are along the same anticlinal feature.
Borden North Update (17,600 hectares)
The compilation of the known geological data on Borden North indicates the presence of highly metamorphosed sediments and gneisses that parallel the Ivanhoe Fault. These rocks are potentially similar to the Borden Gold Zone. The applicable NI 43-101 report filed on May 9, 2014 recommends extensive prospecting and geochemical sampling to define the anomalous gold zones with follow-up geophysics and diamond drilling.
Newly Staked Claim Groups:
Borden West (9,904 hectares) sits at the southwestern flank of the Kapuskasing Structural Zone, immediately west of the town of Chapleau and 20 km west of Probe's Borden Gold discovery. The property covers ground along a projected offset of the structural zone, which hosts the Borden Gold Zone to the southeast. This structural zone has never been drill tested and will be the focus of planned prospecting and future geophysical work prior to drill testing. Access to this property is via gravel forest access roads that run through the claim group.
The Schewabik Belt (6,304 hectares) The property hosts strongly altered and metamorphosed rocks interpreted to represent the eastward continuation of the Destor-Porcupine Fault zone within the Kapuskasing Structural zone. Ontario Government maps show the area is underlain by migmatized metavolcanic and metasedimentary rocks similar to Probe's Borden Gold zone.
Borden South (4,256 hectares) comprises approximately 4,200 Ha on the southeastern flank of the Kapuskasing uplift, running from a large carbonitite intrusive to the southwest along the Ivanhoe Fault abutting into Probe Mines East Limb property to the northeast. Borden South may be associated with the locally offset portion of the Rideout Shear System which hosts Probe's Borden Gold and IAMGold's Cote Lake deposits.
Golden Route (1,232 hectares) encompasses approximately 1,200 Ha is situated 10 km southwest of Chapleau approximately 20 km southwest of the Borden Gold project. Ontario Government maps indicate geology similar to the Borden lake area and very limited historic work. These claims are located parallel to Highway 101.
Subject to finalized plans and budgets, Kapuskasing Gold's exploration plans for all the properties includes geophysics and prospecting to define drill targets for an early fall campaign.
On behalf of the Board of Directors of Kapuskasing Gold Corp.
Dean Nawata, President & CEO, Director |
