Sunday 11th December 2016

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Posts tagged ‘Kapuskasing Gold Corp (KAP)’

Kapuskasing Gold drills near-surface 4.68 g/t over 1.6 metres in northern Ontario

September 27th, 2016

by Greg Klein | September 27, 2016

A brief drill program of three shallow holes confirmed significant gold mineralization on the Rollo project in northern Ontario, Kapuskasing Gold TSXV:KAP announced September 27. The 150-metre summer campaign tested continuity of the property’s Racicot gold showing. The previous summer’s channel sampling found results up to 8.82 g/t gold over 0.6 metres. Grab samples assayed 1 g/t, 1.89 g/t and 11.41 g/t gold.

Kapuskasing Gold drills 4.68 g/t over 1.6 metres in northern Ontario

Some highlights from the most recent program show:

Hole RO-16-01

  • 3.24 g/t gold over 0.7 metres, starting at 8.5 metres in downhole depth

  • 2.32 g/t over 0.5 metres, starting at 10.6 metres

Hole RO-16-02

  • 3.3 g/t over 0.9 metres, starting at 8.2 metres

Hole RO-16-03

  • 4.68 g/t over 1.6 metres, starting at 14 metres
  • (including 8.05 g/t over 0.8 metres)

True widths were unavailable.

Results support an interpretation that associates mineralization with a red syenite dyke that strikes approximately 100 degrees, the company stated

Located along a projected extension of the Destor-Porcupine fault zone, Rollo sits between IAMGOLD’s (TSX:IMG) Cote Lake gold deposit and Goldcorp’s (TSX:G) Borden gold project. Last week Richmond Minerals TSXV:RMD announced results from its Ridley Lake property about three kilometres southwest of Rollo, hitting up to 1.26 g/t gold over 33 metres, including 4.11 g/t over 7 metres.

Future plans for Kapuskasing include additional drilling and ground geophysics. The company intends to resume work this autumn.

A 10-hole, 1,000-metre program at Kapuskasing’s West Keefer property found no significant gold but did identify lithologies favourable for hosting mineralization, the company added.

Kapuskasing holds seven gold properties along extensions of the Destor-Porcupine structure or the Borden gold project. The company closed a $246,600 private placement in July.

Drilling begins on Kapuskasing Gold’s Rollo property in northern Ontario

July 25th, 2016

by Greg Klein | July 25, 2016

Following up on last year’s high-grade samples, Kapuskasing Gold TSXV:KAP now has a drill program underway at its Rollo project in northern Ontario. On July 25 the company announced that three or four holes, each about 50 metres’ depth, will test the property’s Racicot gold showing.

Drilling begins on Kapuskasing Gold’s Rollo property in northern Ontario

Channel sample results from the area in August 2015 included 8.82 grams per tonne gold over 0.6 metres. Grab samples assayed as high as 1, 1.89 and 11.41 g/t gold.

The Racicot showing appears to be associated with a north-bearing quartz, quartz carbonate vein system crosscutting east-west trending mafic metavolcanics and a syenite/porphyry dyke system that trends sub-parallel to the metavolcanics, the company stated. “The drill program is designed to get a better understanding of these geological relationships.”

Kapuskasing’s portfolio includes seven properties along extensions of the Destor-Porcupine structure or Goldcorp’s (TSX:G) Borden gold project. Earlier this month Kapuskasing closed a $246,600 private placement.

Kapuskasing Gold samples up to 11.41 g/t, plans northern Ontario drill program

August 6th, 2015

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.”

Kapuskasing Gold samples up to 11.41 g/t, plans northern Ontario drill program

Sample results encouraged Kapuskasing Gold
to plan a Rollo drill program.

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.

Kapuskasing grabs 11.5 g/t gold at northern Ontario Rollo project

June 12th, 2015

by Greg Klein | June 12, 2015

Grab samples from Kapuskasing Gold’s (TSXV:KAP) Rollo project in Ontario’s Destor-Porcupine fault zone assayed 8.75 and 11.5 grams per tonne gold, the company reported June 11. The results come from the property’s Hanson Lake showing, the first of three quartz feldspar porphyries identified late last year. Channel sampling will begin immediately with drilling to follow, the company stated.

Kapuskasing grabs 11.5 g/t gold at northern Ontario Rollo project

Kapuskasing’s portfolio totals six projects around Mike Tremblay’s
Borden Lake discovery, which Goldcorp took over from Probe Mines.

Spring field work also took place at nearby Borden North, finding several anomalous samples up to 102 ppb gold. The program traced the property’s interpreted S-fold over several kilometres, prompting the company to advance its planned airborne electromagnetics as soon as possible.

Exploration manager Garry Clark commented, “We are looking forward to following up right away on the sampling at Borden North having results that are similar to Mike Tremblay’s initial prospecting at Goldcorp’s [TSX:G] (previously Probe Mines) Borden Lake discovery…. We will be working on the other gold showings on Rollo and initiating work on several of our other properties in the area. We have lots of activity planned for the next several months and beyond.”

The company’s six properties sit along extensions of the Destor-Porcupine or Borden gold project west of Timmins.

September 23rd, 2014

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September 22nd, 2014

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September 19th, 2014

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September 18th, 2014

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Kapuskasing Gold adviser Mike Tremblay wants to continue his success in Ontario’s newest gold district

May 27th, 2014

…Read more

Undaunted by dogma

April 25th, 2014

Kapuskasing Gold wants to prove, once again, that Mike Tremblay’s right about Ontario’s newest gold district

by Greg Klein

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He might have spent over 20 years as a voice crying in the Kapuskasing wilderness, but prospector Mike Tremblay saw his theories validated by a 2010 discovery on property he staked. That was the Borden Lake project in what Probe Mines TSXV:PRB calls Ontario’s newest gold district, the Kapuskasing structural zone. Now as an adviser to Kapuskasing Gold TSXV:KAP, Tremblay wants to open up more of this almost unexplored region.

The Kapuskasing zone sits tantalizingly close to a number of gold camps. Yet it’s received surprisingly little attention. Having grown up in the nearby town of Chapleau, Tremblay says locals often asked, “Why do we have mines all around us but there’s no mines here?” His response: “It was because of this great big Kapuskasing structure that nobody was exploring in.”

Kapuskasing Gold wants to prove, once again, that Mike Tremblay’s right about Ontario’s newest gold district

Tremblay says he was “lucky enough to learn from really smart people, the kind of people who would take you under their wing and teach you.” But something about the region close to home intrigued him. “I always had that contrary, stubborn streak in me, so you couldn’t tell me that something wasn’t possible.”

While working with Noranda Mines he learned about a VMS target that the company walked away from. Tremblay staked it in 1987, lost it at one point, re-staked it and, along with partner Jack Robert, finally sold it to Probe.

That was in March 2010. By June of that year the company had flown a VTEM survey. That summer they hit, eventually announcing a 91-metre intercept averaging two grams per tonne gold from one of six near-surface mineralized holes over a potential 250-metre strike.

Vindicated, Tremblay and his collaborators sought new turf in the Kapuskasing. Meanwhile by January 2013 Probe revealed a global resource of 5.19 million ounces indicated and 1.18 million ounces inferred. In May of last year Agnico Eagle TSX:AEM took a 9.9% stake in Probe. Then in November Tremblay, Robert and Probe won the 2013 Ontario Prospectors Association Award. The OPA credited the “new and unique discovery” to the fact that Tremblay and the others showed themselves “undaunted by dogma.”

Early this year Tremblay and his staking team sold two more properties, “my dream concepts in the area,” to Olympic Resources. He also joined as an adviser, helping transform the company into Kapuskasing Gold.

The acquisitions are Borden North, two claim blocks totalling 6,800 hectares by the Kapuskasing zone’s eastern margin about 60 kilometres north of Probe’s resource, and Rollo, a 7,136-hectare property just east of the zone.

“On Borden North there’s a big S-fold up in the mafic volcanics, so if there was anything it would fatten out in the fold, it would be a structural trap,” Tremblay explains. “When KAP got involved, we staked ground around it to cover all the potential.”

“Rollo was another one that I generated,” he adds. “I once worked with a prospector in his 80s. He was 18 years old in 1933, when they made some big discoveries in the region. So he had intimate knowledge of the area and he told me about this gold showing on a portage on what is now the Rollo project. So when that ground came open, 20 years after he passed on, I remembered he talked about a porphyry on that portage where he panned gold. That was the enticement to get the other guys to put in money.”

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