Kiska Secures 100% Control of Whistler Project
01 Setembro 2010 - 8:58AM
Marketwired
Kiska Metals Corporation (TSX VENTURE: KSK) ("Kiska" or the
"Company") reports that Kennecott Exploration Company, a
wholly-owned subsidiary of Rio Tinto, has informed the Company that
Kennecott will not exercise its rights to back in on the Whistler
Project, located 160 kilometres northwest of Anchorage, Alaska. As
a result, Kiska now controls a 100% interest in the Whistler
Project with Kennecott retaining a 2% Net Smelter Royalty on the
property.
"Kennecott has been an excellent partner, providing valuable
expertise and insight into the project. We appreciate their input
and the prompt decision regarding their right to back in," stated
Jason Weber, President and CEO of Kiska Metals Corporation. "In
securing a 100% ownership interest, we look forward to growing the
resource at the Whistler Deposit, developing new porphyry
discoveries and substantiating Whistler as North America's next
gold camp."
The Company will host a conference call and webcast at 8 a.m.
Pacific time Thursday September 2, 2010 to discuss this exciting
opportunity for the Company. Jason Weber, President and CEO will
host the call. See below for access information for the
webcast.
Exploration at the Whistler Project is on-going with two drills
currently operating. One rig is advancing the Island Mountain
Breccia discovery, where drilling in 2009 intersected two zones of
gold mineralization. An upper gold-copper zone averages 0.72 g/t
gold, 2.4 g/t silver and 0.16% copper over 150 metres and a lower
gold intersection averages 1.22 g/t gold over 107 metres. Island
Mountain is hosted within a 4.5 by 3.0 kilometre area of anomalous
gold-copper soil and rock geochemistry and is located 23 kilometres
south of the Whistler Deposit.
A second rig is now operating on the Whistler Deposit, which
hosts a NI43-101 compliant indicated resource of 1.31 million
ounces gold-equivalent and an inferred resource of 4.44 million
ounces gold-equivalent. Five holes are expected to be completed at
the Whistler Deposit by the end of this season. Results of these
holes, together with eight holes completed after the current
resource estimate was completed in early 2008, will be incorporated
into an updated NI43-101 compliant resource estimate for the
Whistler Deposit. Completion of the estimate is expected in early
November.
Mineral Resource Statement for the Whistler Gold Deposit, Alaska. Prepared
by SRK Consulting (Canada) Inc December 2007
---------------------------------------------------------------------------
Tonnes and Grades Total Contained Metal
---------------------------------------------------------------------------
Gold Gold
Resource Tonnage Gold Silver Copper Eq(3) Gold Silver Copper Eq(3)
Category (Mt) (g/t) (g/t) (%) g/t (Moz) (Moz) (Mlb) (Moz)
---------------------------------------------------------------------------
Indicated
(open-pit(1)) 30 0.87 2.46 0.24 1.35 0.84 2.37 159 1.31
---------------------------------------------------------------------------
Total
Indicated 30 0.87 2.46 0.24 1.35 0.84 2.37 159 1.31
---------------------------------------------------------------------------
Inferred
(open-pit(1)) 123 0.59 2.07 0.19 0.98 2.33 8.19 515 3.86
---------------------------------------------------------------------------
Inferred
(underground(2)) 11 1.16 3.55 0.24 1.66 0.41 1.26 58 0.59
---------------------------------------------------------------------------
Total
Inferred(4) 134 0.64 2.18 0.20 1.05 2.74 9.44 573 4.44
---------------------------------------------------------------------------
1. Reported within a conceptual pit shell and based at a cut-off grade of
0.3 g/t gold equivalent adjusted for metallurgical recovery.
2. Reported based on an underground bulk mining method using a cut-off grade
of 1.1 g/t gold equivalent adjusted for metallurgical recovery;
3. Gold equivalent grade estimated based on 75 percent recovery for gold and
silver; 85 percent recovery for copper; US$550 per ounce gold, US$8 per
ounce silver and US$1.50 per pound of copper;
4. Totals may vary due to rounding.
Qualified Person Statement
The content of this release has been reviewed and approved by
Jason Weber, P. Geo., President and CEO of Kiska Metals
Corporation. Mr. Weber is a Qualified Person as defined under the
terms of National Instrument 43-101.
About Kiska Metals Corporation
Kiska Metals Corporation is a mineral exploration company
focused on advancing the Whistler Project, Alaska, which includes a
multi-million ounce gold-copper resource and excellent exploration
potential. Kiska has renowned technical expertise and a quality
exploration portfolio with numerous early stage exploration
opportunities around the world, some held in partnership with a
selection of the world's largest and most successful gold and base
metal producers. Kiska resulted from the merger of Rimfire Minerals
Corporation and Geoinformatics Exploration in August 2009.
Conference call
Kiska Metals Corporation will host a conference call and
webcast:
Thursday September 2 at 8 a.m. PDT (10 a.m. CDT/11a.m. EDT)
Toll-free: 800-355-4959 or webcast at
http://www.gowebcasting.com/2003
Jason Weber, President and CEO, will host the call. Access to
the call may be obtained by calling the toll-free number or
accessing the website up to 15 minutes prior to the scheduled start
time. For those who are unable to participate, a digital playback
of the conference call will be available on the Company's website
at www.kiskmetals.com.
On behalf of Kiska Metals Corporation
Jason Weber, P.Geo., President & CEO
CAUTIONARY STATEMENT: 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 and
http://www.sec.gov/edgar.
KSK10-22
No stock exchange, securities commission or other regulatory
authority has approved or disapproved the information contained
herein.
Contacts: Kiska Metals Corporation Drew Martel Investor
Relations 604.669.6660 Kiska Metals Corporation Jason Weber
President & CEO 604.669.6660 604.669.0898 (FAX)
www.kiskametals.com
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