by Greg Klein | August 6, 2015
With sample assays in from its Rollo property in northern Ontario, Kapuskasing Gold TSXV:KAP announced “two different gold-bearing relationships” on August 6. The company described “a north-bearing quartz vein system sampled in three locations over 30 metres of strike” which returned up to 8.59 grams per tonne gold over 0.6 metres and “a syenite-porphyry dyke system crosscutting the quartz vein system which sampled up to 11.41 g/t along its contact with east-west trending mafic metavolcanics.”
The results come from a program of prospecting, mapping, three grab samples and 12 channel samples on the property’s Racicot gold showing.
Grab samples returned 11.41 g/t, 1.88 g/t and 1.01 g/t. Highlights from the channel samples included 8.59 g/t over 0.6 metres, 6.75 g/t over 0.5 metres and 2.45 g/t over 0.5 metres.
Kapuskasing plans to test the two mineralized areas with a program of shallow drilling to about 50 metres in depth. The company anticipates signing exploration agreements with natives “in the very near term” and receiving drill permits by late August.
In June Kapuskasing reported grab samples as high as 8.75 and 11.5 g/t. These also came from Rollo’s Racicot showing, then known as the Hanson Lake showing. In addition the company found several anomalous samples up to 102 ppb gold at its nearby Borden North project.
Last month Kapuskasing offered a $500,000 private placement to fund further exploration.
The company’s portfolio comprises six properties west of Timmins along extensions or interpreted extensions of the Destor-Porcupine structure or Goldcorp’s (TSX:G) Borden gold project.