Kapuskasing Gold (KAP-V) May 13th '15 is pleased to announce that its summer 2015 exploration program is underway with the initial focus on the Borden North area followed by Rollo property which returned a number of high-grade gold surface samples from work in late 2014. The Company's Borden North Property is located 46 km northeast of the Borden Lake Gold Deposit recently acquired by Goldcorp in a similar geological setting. Mr. Mike Tremblay, who co-discovered the Borden Gold Deposit, will conduct KAP's exploration program.
"With our first pass having yielded gold mineralization at Borden North and high grade at Rollo, we are excited to get back out on the ground", said Garry Clark, KAP's Exploration Manager. "The Borden Camp, the newest of Ontario's major gold camps, will have Goldcorp as its backbone for years to come and KAP is very well positioned as the understanding of this area evolves."
Early phase 2 work will consist of additional prospecting, mapping and sampling with the view to identifying specific drill locations for testing later in 2015.
KAP will immediately follow the Borden North program with a similar second phase exploration program on its Rollo property located to the southeast of Borden North. The Rollo Property is just 13 km to the south of the planned haul route for ore from the Borden Deposit to Goldcorp's operations in Timmins. Initial prospecting identified three areas of high grade gold mineralization on the Rollo Property in late 2014.
The Borden North property is within the Kapuskasing structural zone and the target is gold mineralization similar to the Borden Gold Project operated by Goldcorp. Gold mineralization at Borden Gold is associated with disseminated and fracture controlled sulfides within a volcano-metasedimentary package of variable composition. Prospecting last fall identified potential gold bearing horizons that assayed up to 200 ppb gold. Work in the fall was cut short due to the onset of snow.
The Rollo property is situated along a projected extension of the Destor-Porcupine fault zone, which hosts several multi-million-ounce gold producers in the nearby Timmins camp, and sits between IAMGOLD's Cote Lake gold deposit and Goldcorp's Borden Gold project. Prospecting of the Rollo property last fall returned significant gold values that will be followed up this spring (See news release Dec 18th 2014 "Kapuskasing Gold Samples Up To 7.69 g/t Gold At Rollo and Borden North Gold Properties, Ontario").
Kapuskasing Gold has 6 gold properties located along extensions of the Destor-Porcupine or Borden Gold project. All of the properties, with the exception of Rollo, are situated within the Kapuskasing structural zones and have potential similarities to Goldcorp's Borden Gold project. A detailed map and property descriptions can be viewed on the Company's website: www.kapgold.com.
On behalf of the Board of Directors of Kapuskasing Gold Corp.,
Dean Nawata, President & CEO, Director
Qualified Person
Mr. Garry Clark P.Geo, the Exploration Manager and a director of the Company, a Qualified Person ("QP") as defined by National Instrument 43-101, has reviewed the technical content of this release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Kapuskasing Gold Corp.
Dean Nawata
President & CEO, Director
1-604-561-2821
www.kapgold.com |
