Kingman Minerals (KGS-V) Completes Acquisition Of Mohave Gold Project & Appoints Raul Sanabria P.Geo As VP Exploration
October 9th 2024 - NR
Kingman Minerals Ltd. has appointed Raul Sanabria as vice-president, exploration.
Mr. Sanabria is a seasoned exploration geologist with over 20 years of expertise in exploration, mining, project development and deposit evaluation. He has held senior executive positions at corporate and operational levels in numerous publicly listed companies in Canada, leading large multidisciplinary teams across Canada, Central America and South America, and Africa.
Mr. Sanabria has played a critical role in discovering and advancing multiple mineral districts globally. His work spans a wide range of strategic and metallic mineral deposits, including Au-Mo-(Cu) (gold-molybdenum-(copper)) porphyries in the Canadian cordillera, epithermal gold-silver systems, primary silver deposits and iron formation-hosted gold, among others. Several of these discoveries are currently progressing toward feasibility or production.
"We are thrilled to welcome Raul to the company. His extensive experience in mineral exploration, from discovery through to development, will be instrumental as we advance our exploration efforts on the Mohave project in Arizona. Raul's expertise in gold vein systems and executive leadership are a strong fit with our mission to focus on high-potential precious metals projects in North America," said Simon David Studer, director of Kingman Minerals.
During his career, Mr. Sanabria has also published numerous technical papers and contributed to international books on mineralogy and mineral deposits. He holds a master's degree with honours in geology (mineral deposits) from the Universidad Complutense de Madrid and is a qualified person (National Instrument 43-101), PGeo, EurGeol.
"I am honoured to join Kingman at this exciting stage of its growth. The company's dedication to aggressively advancing its Mohave project, including its past-producing gold mine, is a reflection of its strong vision to unlock the full potential of the project. Based on the results and initial understanding from past drilling, our plan is to focus on drilling and sampling along strike and depth extensions, particularly targeting the wide coalescing 48 56-inch zones below 325 feet, as well as the other six veins. This approach aims to efficiently build on existing knowledge and accumulate higher-grade ounces more quickly and cost-effectively outside the previously mined areas. I look forward to working with the team to unlock the full potential of Kingman's assets and contribute to its ongoing success," said Mr. Sanabria.
Mohave project and corporate highlights:
Strategic acquisition: On Jan. 11, 2024, Kingman Minerals acquired full control of the 71 Rosebud mining claims, including the historic Rosebud mine, through an option agreement with Seguro Projects Inc. This marks a major milestone in the company's Mohave project in Arizona.
Tier 1, mining-friendly jurisdiction: The acquisition of a precious metal asset with significant development potential in a mineral-rich, world-class mining jurisdiction in Mohave county in Arizona, known for its high-grade gold and silver deposits.
Rich history and potential: The Rosebud mine and adjacent areas have been a site of rich gold and silver discoveries since the 1880s. With substantial underground development, it offers significant potential for future exploration and development.
Market advantage: With gold prices reaching historic highs, the Mohave project, featuring a past-producing mine, is well positioned to capitalize on market demand, enhancing its exploration capabilities while maintaining fiscal prudence and an optimized share structure.
Exploration highlights
Kingman Minerals has conducted two consecutive underground reconnaissance programs and two phases of drilling at the Rosebud mine, both confirming high-grade gold and silver intercepts at depth. Underground sampling from mineralized veins returned exceptional results, including 688 grams per tonne (g/t) gold (Au) and 468 g/t silver (Ag) over 0.18 metre (m), and 252 g/t Au and 341 g/t Ag over 0.46 m.
Phase I drilling
The phase I program drilled five holes over 2,552.5 feet (778 m), targeting historically reported gold and silver resources reported by former operators. The MH-series drill intercepts confirmed high-grade material left by previous miners, with the highest result from MH-03, which intersected 13.63 g/t Au and 8.4 g/t Ag over seven feet at a depth of 338 feet. This intercept, found in hangingwall material, highlights the need for additional drilling along strike extensions and below 325 feet.
Phase II drilling
The second phase extended beyond the known Rosebud mine, drilling to depths of 1,185 feet (361.2 m), targeting porphyry-style mineralization in one of the holes. Although only partially completed, hole H-06 returned significant results, including 1.44 g/t Au and 30.3 g/t Ag over 2.29 m. All intercepts noted above are not true width.
The next drilling phase will focus on targeting bonanza-grade zones along strike and depth extensions, outside the existing workings.
Technical information
The technical information in this website has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by Bradley C. Peek, MSc, CPG, qualified person for Kingman Minerals.
About Kingman Minerals Ltd.
Kingman Minerals is a publicly traded exploration and development company focused on precious metals in North America. The company's flagship project is the fully owned historic Rosebud mine, located in the Music Mountains in Mohave county in Arizona. High-grade gold and silver veins were discovered in the area in the 1880s and were mined mainly in the late 1920s and 1930s. Underground development on the Rosebud property included a 400-foot shaft and approximately 2,500 feet of drifts, raises and crosscuts. The company believes that to explore the full potential of the area, drilling and sampling along strike and depth extensions of existing and additional vein structures is essential.
For further information please contact:
Peter Born, Interim CEO & Director
(604) 685-7720
info@kingmanminerals.com
www.kingmanminerals.com |
