Kent Exploration (KEX - TSX.V) Updates Gnaweeda Gold Project in Australia - Video News Alert posted on InvestmentPitch.com
(Thomson Reuters ONE) -
Vancouver, British Columbia, December 21, 2010 - Kent Exploration Inc., symbol
KEX on the TSX Venture Exchange, reports that its wholly owned subsidiary,
Archean Star Resources Australia Pty Ltd has completed the first holes in its
current diamond drill program on the Gnaweeda Gold Project in West Australia
with the second hole ongoing. The Company has permitted sixteen diamond drill
holes for a total of approximately 2,500 meters at the Bunarra and St. Anne's
prospects.
InvestmentPitch.com's video news alert discusses this project. If the link is
unavailable, please visit www.investmentpitch.com, and enter "Kent" in the
search bar.
The first segment of this program is currently underway at the Bunarra Prospect,
where the first two holes BN004 and BN005 were planned to determine the plunge
of the mineralized zone that was intersected in diamond drill hole BN003,
drilled during the March 2010 diamond drill program, as announced in the
Company's news releases, KEX2010-14 and KEX2010-22.
BN004 was completed to a depth of 155 meters and was drilled directly downdip
from historic hole BBP2 that intersected 7 meters at 1.9 g/t Au (including 1
meter at 10 g/t Au). BN004 intersected approximately 8.6 meters of
mineralization, consisting of quartz-tourmaline, pyrite and arseno-pyrite, at a
depth of approximately 90 meters down hole. The second hole, BN005, which
intersected the same mineralized zone at approximately 120 meters down hole and
is currently at a depth of 230 meters, has been temporarily stopped for weather
reasons and the Australian Christmas Holiday break. Drilling on BN005 will
recommence after the Christmas break. The mineralized zone remains open along
strike and at depth.
On completion of core logging and splitting, the split core is to be submitted
to ALS Chemex Laboratory in Perth, WA for gold assay.
Archean has identified mineralization to depths of over 200 meters, (660 ft) at
Bunarra, with the most significant intersection being drill hole BN003, a 18
meter (59 ft) intersection of 11.74 g/t Au that includes 4 meters (13 ft) at
37.76 g/t Au, (inclusive of a 1 meter intersection (3.3 ft) averaging 110.1 g/t
Au), 1 meter (3.3 ft) at 24.2 g/t Au and 3m (10 ft) at 7.09 g/t Au. According to
the recent petrographic study, the reported gold is associated with the
pyrite/arsenopyrite.
Upon completion of the Bunarra segment of phase 2 drilling, Archean plans to
commence drilling six holes at the St. Anne's prospect, which is located
approximately 5 km south of the Turnberry prospect. The Company has updated its
NI 43-101-Report on the Gnaweeda Gold Project that incorporated the results and
conclusions from the March 2010 diamond drill program.
The 17,000 ha (42,000 acre) Gnaweeda Gold Project consists of several gold
prospects, including Turnberry in the north, which has an identified gold-
bearing zone approximately 2.5 km (1.65 miles) along strike and 750 meters (0.46
miles) in width, St. Anne's, and Bunarra in the south, as well as other known
gold-bearing prospects, Chiddle Well and the Far East zone. The property lies
approximately 640 km (400 miles) northeast of Perth and 35 km (22 miles)
northeast of Meekatharra, and comprises a package of two exploration licenses
over a strike length of 28 km (17.5 miles) of the Gnaweeda Greenstone Belt.
The Company has granted 475,000 incentive stock options exercisable at $0.18
cents for a period of five years to directors, officers and consultants. On
November 30, 2010, 425,000 previously granted stock options expired.
The Company has closed the $0.15 cent Subscriptions for the Archean Star
Resources Inc. subsidiary financing and is proceeding to effect the previously
approved Plan of Arrangement whereby Archean Star Resources Inc. will become a
separately listed company.
Kent Exploration Inc is a junior exploration company that has an Option
Agreement to earn 100% of Teck Australia Pty Ltd.'s interest in Chalice Gold
Mines Limited's Gnaweeda Gold Project in West Australia, subject to a 75% back-
in right to Teck, and has acquired the Alexander River, Paparoa and Lyell gold
projects in the highly prolific Reefton gold field in New Zealand.
The Company has an option to earn a 100% interest in the Silver Hills property,
a silver/lead/zinc prospect in south-eastern British Columbia, and has a 100%
interest in the Courtney Lake property, a silver/lead/zinc prospect in north-
east Saskatchewan. The Company has a 100% interest in Coal Prospecting Permits
covering approximately 92,000 ha in east-central Saskatchewan, a 100% interest
in a mining lease option on the Flagstaff Mountain property, a
gold/silver/zinc/barite prospect in eastern Washington state, a 100% interest in
the mining lease option on the Ivanhoe Creek property, a Midas-style gold/silver
target in Nevada's Carlin Trend, and 50% of a 100% interest in the Ivanhoe Creek
placer claims covering a bentonite deposit.
This News Release has been prepared on behalf of the Kent Exploration Inc. Board
of Directors, which accepts full responsibility for its contents. The contents
of this release have been reviewed and approved by Marvin A. Mitchell, a
Qualified Person as defined by National Instrument NI-43-10.
CONTACT:
Kent Exploration Inc.
Graeme O'Neill, President
604-684-3394
www.kent-exploration.com
InvestmentPitch.com
Barry Morgan, CFO
604-684-5524
bmorgan(at)investmentpitch.com
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: InvestmentPitch via Thomson Reuters ONE
[HUG#1474871]
Unternehmensinformation / Kurzprofil:
Datum: 21.12.2010 - 18:55 Uhr
Sprache: Deutsch
News-ID 49970
Anzahl Zeichen: 6541
contact information:
Kategorie:
Business News
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