VANCOUVER, BC–(Marketwired – December 03, 2015) – Kiska Metals Corporation (“Kiska” or the “Company”) (TSX VENTURE: KSK) is pleased to report that a recently completed Induced Polarization (“IP”) geophysical survey at its Chuchi project in north-central B.C. has returned significant chargeability and resistivity anomalies, which in conjunction with other geological data, indicate the potential footprint of a significant alkalic porphyry copper-gold deposit.
The anomalies cover the main BP Zone and extend from known zones of copper-gold mineralization into untested areas at surface and to depth, and identify new zones that have yet to be drilled. “This IP survey is the first modern exploration to be conducted over the BP Zone since it was discovered by drilling 25 years ago”, stated Dr. Mike Roberts, V.P. Exploration for Kiska, “The historical drilling returned significant copper-gold mineralization within an alkalic porphyry system, and yet no modern work has been done to fully determine the extent of this mineralization or vector towards the higher grades. In particular, the historical drilling shows higher gold grades associated with zones of elevated pyrite mineralization and therefore these newly defined and strong chargeability anomalies within and flanking the intrusive centre at the BP Zone provide compelling drill targets.” Kiska is currently seeking a partner to help advance this drill-ready project.
The road-accessible Chuchi Property hosts a copper-gold porphyry system in a prospective region of the Quesnel porphyry belt and is located only 32 km to the northwest of the Mt. Milligan copper-gold mine. The core of the property overlies a 12 km2 alteration zone centered on a cluster of porphyritic monzonite stocks hosted by volcanic and sedimentary rocks. Drilling campaigns from 1989 to 1991 targeted coincident Cu-Au soil geochemical anomalies and chargeability high anomalies within this alteration zone, for a total of 13,030 metres from 79 drillholes. Drilling returned significant intervals of copper-gold mineralization and higher grade, gold-only mineralization over a 1.5 km by 1.5 km area referred to as the BP Zone, including:
- 100.0 metres grading 0.27% Cu and 0.37 g/t Au (from 38.0 m downhole), including 16.0 metres grading 0.71% Cu and 1.32 g/t Au (from 82.0 m downhole), in hole 89-07
- 194.0 metres grading 0.21% Cu and 0.21 g/t Au (from 32.0 m downhole), including 70.0 metres grading 0.31% Cu and 0.34 g/t Au (from 156.0 m downhole), in hole 90-27
- 54.6 metres grading 2.03 g/t Au and 0.09% Cu (from 91.4 m downhole), including 32.6 metres grading 3.38 g/t Au and 0.07% Cu (from 91.4 metres), in hole 91-42
Copper-gold mineralization is typically associated with chalcopyrite-magnetite disseminations and veins in biotite and/or actinolite-epidote-albite altered monzonite porphyry. Higher gold grades and gold-only mineralization is associated with a later phase of pyrite mineralization.
The recently completed IP survey consisted of two 5 km long, east-west oriented lines centred on the BP Zone. The survey was conducted by Peter E. Walcott & Associates Limited. To eliminate directional bias in the data the survey used a combined forward pole-dipole and reverse dipole-pole array measuring the 0.5th to 16.5th separations at a 100 m dipole separation. To view the IP maps and sections click here.
Line 5300N displays near-surface chargeability high anomalies (>20 mV/V) over a width of 2 km that is centred on, and partly coincident with, a magnetic high feature related to monzonitic porphyry intrusions with local magnetite-chalcopyrite veins and breccias. Within this 1 km wide magnetic high feature, high chargeability values are coincident with drilled zones of Cu-Au mineralization, and yet most of the anomalies remain untested by drilling or are open to depth. The resistivity data supports the presence of a resistive intrusive body at depth coincident with the magnetic high feature, and the “Valley” fault zone east of this feature. In addition, this line has also identified a new chargeability anomaly to the east of the Valley fault zone at a depth of 200 m below surface; this feature may represent a faulted offset of the BP Zone concealed by post-mineral cover, and is currently untested by drilling.
Line 4800N traversed mostly south of the “070” fault, a postulated south-side down normal fault that displaced the porphyry intrusive centre to depth. The western portion of this line displays flat-lying chargeability anomalies associated with hornfels sediments that might cap intrusive rocks and porphyry mineralization at depth, whereas the eastern portion of the line has also identified a potential BP Zone offset east of the Valley fault.
The technical content of this document was reviewed and approved by Michael Roberts, Ph.D., P.Geo., Vice President of Exploration for Kiska Metals Corporation, a Qualified Person as defined by National Instrument 43-101. All previous exploration data on the property, including diamond drilling, geophysical surveys and geochemical surveys, is considered as “historical data” and was compiled from exploration reports and press releases that are believed to be accurate. This historical data has not been independently verified by Kiska, and in some instances may be unverifiable due to a lack of original data, archive sample material or original assay certificates. The true widths of all of the copper and gold intercepts in the drillholes reported in this press release are unknown at this time due to a lack of geometrical information on the mineralized zones.
About Kiska Metals Corporation
Kiska Metals Corporation is a prospect generator company with a high quality portfolio of gold and copper projects throughout North America. Two of Kiska’s projects are held under option agreements with major mining companies. Kiska has several other gold and copper projects available for option-joint venture as well as an extensive royalty portfolio.
On behalf of Kiska Metals Corporation
Grant Ewing, President & CEO
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.
CAUTIONARY STATEMENT: No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This News Release includes certain “forward-looking statements”. Other than statements of historical fact, all statements included in this release, including, without limitation, statements regarding future plans and objectives of Kiska Metals Corporation, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Kiska’s expectations are the risks detailed herein and from time to time in the filings made by Kiska Metals Corporation with securities regulators. Those filings can be found on the Internet at http://www.sedar.com.
Kiska Metals Corporation
Brian Miller or Grant Ewing