Khalkos Exploration Inc.: Updates on the Stripping Campaign of the V Property
December 04 2013 - 3:06PM
Marketwired
Khalkos Exploration Inc.: Updates on the Stripping Campaign of the
V Property
MONTREAL, QUEBEC--(Marketwired - Dec 4, 2013) - Management of
KHALKOS EXPLORATION INC. (TSX-VENTURE:KAS) ("Khalkos" or the
"Corporation") is pleased to announce the results of its strategic
stripping campaign on the gold property of Villebon (V property). A
total of ten chosen samples of rock were selected for assaying,
including three from a mineralized quartz vein in sulfur which
yield a gold grade up to 2.36 ounces per ton (73.36 g/t) and 2.22
ounces per ton (69.19g/t). Samples of quartz-run around the old
trench returned with grades up to 4.1 g/t Au.
Fieldworks were performed in the central part of the property,
more precisely, in the area of the vein #3. Historically, the
stripping values reported were never greater than 16 g/t Au. The
stripping of the vein #3 is situated 500 metres from the vein #4
which is currently undergoing diamond drilling and the stripping
zone of Céré who yielded a 72 g/t Au (Ref. to the press release of
November 19, 2013).
Significant results
from the assay
Samples # |
Au (ppm or g/t) |
J143431 |
2.05 |
J143434 |
73.63 |
J143435 |
4.10 |
J143436 |
69.19 |
Samples came from a vein of quartz mineralized in pyrite,
pyrrhotite, chalcopyrite and galena. These results confirm the
strong potential of high grade veins in the sector of vein #3 and
the Céré's old headframe. Following these results, Khalkos intends
to increase the bulk sampling previously planned. The Company will
begin the excavation in the upcoming weeks. It plans to ship around
12 tons of selected materials that will be later sent to the small
scale facility of ExploLab at Val-d'Or. This will allow Khalkos
Exploration to pour its first ounces of gold and to measure more
precisely the gold grade of the vein.
The following link is a picture of the location of stripping:
http://khalkos.com/wp-content/uploads/2013/12/travaux-2013-_en.jpg
Following an insurance program and an analytical control of
quality, the ten selected samples of the V Property were assayed at
the laboratories of Bourlamaque Ltd in Val-d'Or, Quebec. Using the
fire assay, samples with a gold grade higher than 10g/t were
re-assayed by the gravimetric method. The samples were prepared
following the standard procedures of Bourlamaque.
The V Property in the Villebon Township is located 47 km south
of the city of Val d'Or in Abitibi, Quebec and 12 km south of the
former Chimo mine which produced 363 000 oz of gold between 1966
and 1996. The first mineralized showings were discovered in the
1930s, and underwent stripping, rock sampling, and drilling in the
1940s and 1980s, with no additional drilling since then. It should
be noted that a drilling campaign of NQ calibre is currently
underway in the sector of the vein #4 situated more than 500 metres
of the vein #3 and 1 km from the Céré's headframe. Khalkos
Exploration Inc. intends to proceed with, in winter 2014, a
drilling campaign aiming to demonstrate the continuity of the high
grade significant gold system that has been recognized for over 1
km.
During the 1940s, the V Property underwent a small-scale
artisanal mining operation, producing around 160 oz of gold, which
was then sent to the Royal Canadian Mint. (Licence no. 112, file
101.39, Service des Mines, Province of Quebec, Gustave Céré).
Robert Gagnon, President and CEO, declares: "We are very
encouraged by these results that confirm the economical potential
of these high grade veins in the V property. The updated gold
system is traceable on more than 1 km and is still open in depth.
The future fieldwork will allow Khalkos to validate the potential
of the Villebon property in order to bring it in the near future to
the stage of economic resource".
This press release was prepared by Robert Gagnon, President of
Khalkos, Qualified Person pursuant to National Instrument
43-101.
Neither the 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.
Robert GagnonPresidentrgagnon@khalkos.comTel.: (819)
860-2621Peter Kong, B.B.A.pkong@khalkos.comTel.: (514)
750-9026(514) 510-7964Website: www.khalkos.com
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