QUEBEC CITY, QUEBEC–(Marketwired – Sept. 10, 2015) – Komet Resources Inc. (« Komet » or the « Company ») (TSX VENTURE:KMT) announces the first results of the drilling campaign recently completed at the Guiro mine.
Following the core drilling program that took place from May to July 2015, the Guiro auriferous vein is now supported on more than 700m of strike length and 150m of vertical depth. It remains open in westward direction, at depth under the former operation underground galleries as well as in depth in eastward direction. The state of this vein is typical of the vein deposits of greenstone belts with its long ovoid mineral masses. The new areas encountered out of the former mine workings perform similar to the previously operated mines. The existing mining section covers approximately 300m wide and is 125m deep, the lateral extension is supported by a pattern drilling of 25x50m over 250m long and 50x100m over 150m long.
André Gagné, president and CEO stated: “The intersection of mineralization on 700m long, more than twice the length historically recognized is very stimulating. The program enhanced our comprehension of the vein geometry and we are very optimistic with the potential to double or triple in depth.”
The next exploration steps in the Guiro area will primarily be the definition of the in-depth vein, under the level of 125m, then of its lateral extensions.
Significant Results and Highlights Table
Drill hole Gu2015dd01 returned 12.59 g/t Au over 1.45m (from 143.00m to 144.45m along the drill hole), Gu2015dd16 returned 9.20 g/t Au over 4,30m (from 158.00m to 162.30m along the drill hole), Gu2015dd25 returned 8.84 g/t Au over 3.04m (from 117.50m to 120.54m along the drill hole) including 42.2 g/t Au over 0.59m (from 119.95m to 120.54m along the drill hole) and finally, drill hole Gu2015dd35 returned 31.10 g/t Au over 1.35m (from 105.45m to 106.80m along the drill hole). Table 1 provides highlights of the 35 drill holes conducted during the campaign. The results of all samples analyzed by the SGS Lab in Ouagadougou using fire assay followed by atomic absorption spectrometry are available on the Company’s website (2015 Guiro drilling campaign results).
The technical team is preparing to carry out a characterization study of the gold mineralization by way of a total processing on selected samples. The processing will allows maintaining a maximum amount of the gold grains shape, size fraction and frequency in the sample. This information will permit both qualitative and quantitative observation of the gold and associated mineralogy in the heavy mineral concentrate and the fine fraction. The complete treatment on the whole sample weight produces a semi-metallurgical balanced gold value that more truly represents the gold concentration of the sample and not a gold value based on 1 to 5% of the sample weight. The goals of the characterization study are for data verification (validation) of the analytical data, production of higher quality robust data including mineralogical information for domain quantification and for definition of any nugget effect. The higher confidence data will be an advantage for geostatistical manipulation. This study will also aid to adjust and optimize sampling, laboratory treatment and gold liberation protocols.
Calculation of Resource
Following the reception of the complete analysis results and samples mineral processing, a calculation of the resource will be completed including unextracted extensions and sections of the mine.
Jacques Marchand, P.Eng. Geo., is the Qualified Person who has reviewed this news release and is responsible for the geological information presented there.
More information about the corporation is available at: www.kometgold.com.
Neither TSX Venture Exchange nor the regulatory service provider (as the term is defined in TSX Venture Exchange’s policies) accepts any liability of any kind as to the authenticity or accuracy of this release. This press release contains statements that may constitute “forward-looking information” or “forward-looking statements” as set out within the context of security law. This forward-looking information is subject to many risks and uncertainties, some of which are beyond Komet Inc.’s (“Komet”) control. The actual results or conclusions may differ considerably from those that have been set out, or intimated, in this forward-looking information. There are many factors which may cause such disparity, especially the instability of metal market prices, the results of fluctuations in foreign currency exchange rates or in interest rates, poorly estimated reserves, environmental risks (stricter regulations), unforeseen geological situations, unfavorable extraction conditions, political risks brought on by mining in developing countries, regulatory and governmental policy changes (laws and policies), failure to obtain the requisite permits and approvals from government bodies, or any other risk relating to mining and development. There is no guarantee that the circumstances anticipated in this forward-looking information will occur, or if they do occur, how they will benefit Komet. The forward-looking information is based on the estimates and opinions of Komet’s management at the time of the publication of the information and Komet does not assume any obligation to make public updates or modifications to any of the forward-looking statements, whether as a result of new information, future events, or any other cause, except if it is required by securities laws.
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