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Message: Kiska Exploration Update
VANCOUVER, BC / ACCESSWIRE / October 6, 2015 / Kiska Metals Corporation (TSXV: KSK) ("Kiska" or the "Company") is pleased to report on the current status of its exploration activities. A brief summary of project activities is followed by a more detailed synopsis with additional information links to the website.
Kliyul - Awaiting results from recently completed drill program
- Kiska's 100% owned BC porphyry copper-gold project under option to Teck Resources Limited ("Teck")
- Teck recently sole-funded an exploration program including drilling, geophysics and mapping
- Drilling tested the extension of known mineralization along strike and to depth in the Kliyul Zone
- Previously reported historical drill results in the Kliyul Zone include:
- 217.8m of 0.52g/t Au + 0.23% Cu (hole KL06-30)
- 76.4m of 1.16 g/t Au + 0.33% Cu (hole KL-8)
- Teck can earn up to 65% interest by spending $12M in exploration expenditures
Teck recently completed a geological mapping, geophysical survey and diamond drilling program at Kiska's Kliyul porphyry copper-gold project in north-central BC. The primary focus of the program was to drill-test the main Kliyul Zone, where historical shallow drilling returned significant zones of copper-gold mineralization that remain open to depth and along trend. Teck completed four holes for a total of 1908 metres of drilling (http://www.kiskametals.com/i/pdf/Kliyul_Web_MapsFigures_05Oct2015-432.pdf). Teck also conducted 9.4 line-kilometres of Induced Polarization (IP) geophysics to extend the 2013 IP survey over the Bap Ridge prospect, an area of extensive phyllic and propylitic alteration located 1.5 km to the southeast of the Kliyul Zone. The results of the drilling and geophysical survey are pending.
Copper Joe - Exploration produces compelling drill targets
- Kiska's Alaskan porphyry copper-gold-molybdenum project under option to First Quantum Minerals ("FQM")
- Exploration discovered multiple porphyry centres and indicates potential for a very large system
- 2015 mapping, geophysics, and the use of a proprietary 3-D lithogeochemical modelling technology produced compelling new drill targets, including outcropping chalcopyrite mineralization associated with Early Dark Micaceous ("EDM") veins
- Host rocks at Copper Joe are Eocene to Miocene intrusions, a relatively unrecognized yet potentially significant geological opportunity in the Alaska Range
- FQM is sole funding the project with the option to earn-in, at which point Kiska is carried to production and retains a 20% interest
Copper Joe Details
In partnership with First Quantum Minerals, Kiska recently completed a geological mapping program and a Magnetotelluric ("MT") geophysical survey at the Copper Joe project, Alaska. Copper Joe is a porphyry copper-gold-molybdenum exploration project located 175 km to the northwest of Anchorage. The project hosts an extensive area of phyllic alteration, including local zones of potassic alteration, porphyry-style veining with chalcopyrite mineralization, and diatreme, pebble dyke, and magnetite breccias in Eocene and Miocene intrusive rocks. "Copper Joe is in a frontier district where the potential for a new mineral discovery is high. We believe that this is an exciting opportunity because Miocene-aged porphyry systems are under-recognized targets in the Alaska Range, yet are very productive copper hosts in other Circum-Pacific districts such as in Chile and Peru," stated Kiska's Vice President of Exploration Dr. Mike Roberts.
Work on the property this season included detailed alteration and vein mapping, alteration mineral chemistry mapping (white-mica hyperspectral analysis and chlorite chemistry), a 12 km2 full-tensor MT geophysical survey, and the application of Fathom Geophysic's proprietary 3-dimensional porphyry footprint lithogeochemical modeling method, exclusively available to Kiska. This work has defined two compelling porphyry targets, the Evening Star and Morning Star prospects. A plan map and cross-section can be found on Kiska's website (http://www.kiskametals.com/i/pdf/CopperJoe_Web_MapsFigures_05Oct2015-432.pdf).
The Evening Star prospect is defined by a 2.5 km diameter area of intense phyllic alteration that hosts an outer margin with significant D-style quartz-pyrite veining and a 1 km wide inner zone defined by significant banded quartz-molybdenite veining. Porphyry footprint lithogeochemical modeling, hyperspectral white-mica analysis, and chlorite chemistry analysis suggests that this inner zone represents the high-level core of the porphyry system. The MT survey indicates that this inner zone is centred on a discrete, 1 km wide, conductivity low anomaly (100 ohm/m) approximately 650 m from surface. This MT anomaly is draped by a 2.5 km wide chargeability high IP anomaly. The core of this MT anomaly defines a compelling drill target.
The newly-recognized Morning Star prospect occurs 2.2 km southwest of the Evening Star prospect in a relatively low-lying area mostly covered by glacial till. Morning Star is defined by narrow outcrop exposures in creek gulleys that contain chalcopyrite mineralization in EDM veins and B-style quartz veins over a 400 metre wide area. Previous grab samples collected from this area returned up to 0.73 % Cu and 0.42 g/t Au. Morning Star has yet to be tested by geophysical surveys or drilling.
Kiska is currently preparing to complete an IP geophysical survey at its Chuchi porphyry copper-gold project in early October. This road accessible project in north-central BC hosts a proven porphyry system where drilling in the early 1990's returned significant intervals of copper-gold mineralization that remain open in multiple directions. Historical IP surveys, which only had shallow penetration depths (approximately 50 m below surface), indicate that areas with elevated copper and gold in historical drilling are associated with moderate chargeability high anomalies as opposed to higher chargeability areas tested in previous drilling. The current survey is designed to test the breadth and depth of the Chuchi system to determine its size. Leveraging digitized historical drill data, results of the IP survey will be used to define new drill targets.
The technical content of this document was reviewed and approved by Michael Roberts, Ph.D., P.Geo., Vice President of Exploration for Kiska Metals Corporation, a Qualified Person as defined by National Instrument 43-101.
About Kiska Metals Corporation
Kiska Metals Corporation is a prospect generator company with a high quality portfolio of gold and copper projects throughout North America. Two of Kiska's projects are held under option agreements with major mining companies. Kiska has several other gold and copper projects available for option-joint venture as well as an extensive royalty portfolio.
On behalf of Kiska Metals Corporation
Grant Ewing, President & CEO
Neither 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.
CAUTIONARY STATEMENT: No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This News Release includes certain "forward-looking statements". Other than statements of historical fact, all statements included in this release, including, without limitation, statements regarding future plans and objectives of Kiska Metals Corporation, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Kiska's expectations are the risks detailed herein and from time to time in the filings made by Kiska Metals Corporation with securities regulators. Those filings can be found on the Internet at http://www.sedar.com.
SOURCE: Kiska Metals Corporation
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