Val-d’Or, QB / ACCESSWIRE / April 22, 2014 / Knick Exploration Inc. (TSX-V: KNX) is pleased to provide a corporate update on its Trecesson, East-West and Malartic West properties in Quebec and its Ogden and Triple Lake properties in Ontario.
The Trecesson Property is suggestive of the Bourlamaque Batholith area of Val d’Or which is host to multiple gold and base metal deposits. Key areas of the Trecesson property include:
1) The Cossette Gold Vein System is ready for the Phase II drill program targeted to develop tonnage toward a 43-101 resource over a strike length of 845 meters.
2) The Chib-Kayrand Area has numerous gold ? tungsten veins including:
i) The #9 Vein which has been traced for over 450m, has 5 high priority drill targets and includes:
A) Drilling under the area where in 1951, G. Dumont reported that a 13,500 lb. (6,136 kg.) bulk sample assayed 0.45% WO3.and 2013 grab samples by Knick ran 0.64%, 0.63% and 0.55% tungsten tri-oxide(WO3), (previously reported Oct 8, 2013).
B) Drilling under the area where a grab sample by Knick assayed 420.37g/t gold (previously reported Oct 30, 2012) returned 0.2% tungsten-trioxide (previously reported Oct 8, 2013).
ii) The “Scheelite Vein” a drill ready target which has a geophysical (I.P.) anomaly that has been traced for 250m coincident with the “scheelite Vein”. Historic reported values of 0.53 to 16.89% tungsten tri-oxide were found however there was no mention of gold assays. It was rediscovered by Knick in May 2012 during routine prospecting. Of 11 preliminary grab sample by Knick, 27.3% assayed greater than 1.0g/t gold, including 5.5g/t, 7.4g/t and 51g/t gold (previously released June 19, 2012) and subsequent chip channel sampling results of 10 samples taken returned: 5 samples having anomalous gold; greater than 0.37g/t and 5 samples greater than 1.0g/t, including 23.9g/t over 0.25m (previously released Sept. 17, 2013).
Note: World demand for tungsten is continuing to increase. China controls approximately 80% of the tungsten market followed by the former USSR with about 8%. Typical grades for tungsten are 0.3 to 1.5% tungsten tri-oxide for veins, lower for stockworks.
iii) A Phase I plan for drilling the #1 Vein to potentially outline tonnage by a systematic sequence of holes along 900 meters of the gold vein system is being prepared. Targets to date include testing at depth under the old mine workings of Nortrac Gold Mines. In 1935 Nortrac sunk an inclined shaft for 38 meters to the 33 meter level and 330 meters of drifting completed. An inferred shoot of 2,500 tonnes grading 10.3 g/t gold was removed from the 33 meter level and an 18 meter by 1.8 meter cut of the vein at this level assayed 14.4 g/t gold. The shaft area is referred to as the Chib-Kayrand Mine. Historically stripping results indicate that this vein was traced on surface for 24 meters at an average width of 1.7 meters, assaying 11 g/t gold (Tungsten reported-no values given).
Mechanical stripping by Knick in 2013 exposed “Vein No. 1″. A total of eight samples were taken of which seven returned gold including 14.89 g/t, 12.58g/t, 8.52g/t, 2.39g/t confirming historic results (previously released Sept.24, 2013).
2) The Mondor/Raymor Area is located 5km east-southeast of the Cossette Gold Vein System Area. The Mondor/Raymor Area is host to the historical Mondor/Raymor (zone A) deposit. The deposit is a historical mineral resource categorized as 0.5 million tonnes possible at 5.5g/t gold (MNRQ, sigeom-2000-07-07, metallic deposit, reserve document reference GM 47762).
The area is underlain by felsic to intermediate volcanic rock which is evident in a previous mechanically stripped area covering approximately 300m x 50m exposing gossans and sulfides rich zones.
At present research is ongoing on the Trecesson Property. Age dating results of the Trecesson Batholith are anticipated in the near future. Preliminary field examinations of potentially mineralized plugs and circular magnetic anomalies peripheral to the Trecesson Batholith will commence when the snow is gone.
The East-West Property is under option to Rogue Resources Inc. (TSX-V: RRS).
The Malartic West Property is under option to Geonovus Minerals Corp. (TSX-V: GNM).
The company is seeking partnerships on the Ogden Gold Property in Timmins West and the Triple Lake Gold and VMS Property in South Timmins, Ontario.
1) NI 43-101 Technical Report Pertaining To: Trecesson Property, Abitibi Area, Quebec, Canada, January 20, 2012 updated on March 25, 2013, by Donald Theberge, Eng., M.B.A. available on Knick’s web site at www.knick.ca.
2) Knick press releases are available in the news room on Knick’s web site at www.knick.ca.
Grab samples are selective by nature and are unlikely to represent the average grade of the mineralized zone.
Samples were sent to Expert Laboratory in Rouyn-Noranda, Quebec for analysis.
Fire assay, multi element scan and XRF method were implemented for analysis.
Standards and blanks are submitted by Knick routinely to insure quality control.
Gordon N. Henriksen, P.Geo., Vice President of Knick Exploration, is the Company’s qualified person as defined by National Instrument 43-101. He has reviewed and approved the contents of this press release.
We seek Safe Harbour.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
This Press Release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties.
FOR MORE INFORMATION, CONTACT:
Jacques Brunelle Gordon N. Henriksen
President & CEO Vice President
Knick Exploration Knick Exploration
536, 3rd Avenue 536, 3rd Avenue
Val-d’Or, Quebec Val-d’Or, Quebec
J9P 1S4 J9P 1S4
SOURCE: Knick Exploration Inc.