Vancouver, B.C. (May 28, 2020) Kingman Minerals Ltd. (TSX-V:KGS)(FSE:47A1) (“Kingman” or the “Company”) is pleased to report that the Company is currently in the process of preparing a NI43-101 compliant technical report on the Mohave Project (“Mohave”).
In 2020, Burgex Mining Consultants (“Burgex”) were contracted to determine accessibility of the Rosebud Mine and complete two underground sampling programs. During the prior program, Burgex was able to use ropes and ladders to assess the safety and stability of the main production shaft and lower themselves down to the 100-foot level of the abandoned mine. Below the 100ft level the shaft was blocked by debris and garbage, which Burgex was able to successfully clear during this second program in order to gain access to the 200ft level. Additional debris was blocking the shaft below the 200ft level preventing them from accessing the 250ft level.
A photo tour, videos and additional details of the first and second reconnaissance programs are available on Company website at https://kingmanminerals.com/projects/mohave-project/first-underground-program/ and https://kingmanminerals.com/projects/mohave-project/2nd-phase-underground-reconnaissance-sampling-program/
Figure 1 – Burgex examines and samples the interior of the 100ft drift level during the 1st of 2 underground programs.
Figure 2 – Burgex examines and samples the interior of the 200ft drift level during the 2nd of 2 underground programs.
Figure 3 – Longitudinal section of the Rosebud Mine (Mohave Project) with underground sampling results and locations from first and second Burgex reconnaissance programs. All values are presented in Au (g/t)/Ag (g/t).
The samples that Burgex collected were sent to ALS Laboratories in Reno, Nevada and were analyzed using the ALS method ME-GRA21 for gold and silver. This method is a fire assay method for optimal precious metal recovery. The ME-GRA21 method is described as "Au and Ag by fire assay and gravimetric finish ". This is what ALS recommends for the type samples from Rosebud.
QA/QC procedures used for this second round of underground sampling included the use of two different Au/Ag standards and one blank standard prepared by MEG, Inc. of Reno, Nevada. These standards and blank were inserted into the sample batch with the rest of the Burgex 2nd round samples. Analytical results of the standards and blank were within their respective acceptable ranges.
The results of both programs will be implemented into the NI43-101 technical report. “The Company is incredibly proud of the acquisition of the Mohave Project and our progress to date. This project has immense potential and our team has really come together to make these efforts despite the obvious challenges posed by the recent COVID concerns. Kingman intends to continue to move forward undeterred and will announce its go forward plans once the information has been finalized” stated Sandy MacDougall, Chairman and Director.
The technical information contained in this news release has been reviewed and approved by Bradley C. Peek, MSc. and Certified Professional Geologist who is a Qualified Person with respect to Kingman’s Mohave Project as defined under National Instrument 43-101.
Kingman Minerals Ltd. is currently engaged in the business of precious metal mineral exploration for the purpose of acquiring and advancing non grass roots mineral properties located in mining friendly jurisdictions of North America.
The Mohave Project (the “Project”) is located in the Music Mountains in Mohave County, Arizona and is comprised of 20 lode claims which are inclusive of the past producing Rosebud Mine (the “Rosebud”). High grade gold and silver veins were discovered in the area in the 1880’s and were mined mainly in the late 20’s and 30’s. Underground development on the Rosebud property included a 400-foot shaft and approximately 2,500 feet of drifts, raises and crosscuts.
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. This news release may contain forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes statements regarding, among other things, the completion transactions completed in the Agreement. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, regulatory approval processes. Although Kingman believes that the assumptions used in preparing the forward-looking information in this news release are reasonable, including that all necessary regulatory approvals will be obtained in a timely manner, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Kingman disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable securities laws.