Komet Resources Inc. {TSX.V: KMT} announced the first drilling results on the Guiro South zone, 488 meters south to the Guiro mine.
CEO André Gagné stated “the results are very encouraging for the future growth of mine production by the Company.”
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Quebec City, May 25, 2017 – Komet Resources Inc. {TSX.V: KMT} is pleased to announce the first drilling results on the Guiro South zone, 488 meters south to the Guiro mine.
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André Gagné, president and CEO declares: “We are very enthusiastic about this new discovery close to the Guiro mine and its facilities. Those results are very encouraging for the future growth of mine production by the Company.”.
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Following the sampling results on this new zone announced in the March 29, 2017 press release, three holes were core drilled over an area of 40 m in width by 80 m in length and confirmed a striped and coiled vein that appears parallel and similar to the Guiro vein. These three holes intercepted the structure, but hole 1 did not contain the mineralised vein.
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The two mineralised stacks encountered at 40 m depth have an average (true) width of 0.91 m and an average grade of 7.6 g/t Au. This grade is of the same order as that found in the grooves of gold pits (March 29, 2017 press release). Two visible gold points are present in Survey 2. Following those excellent results, a drilling campaign of at least 1000 meters is underway.
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Summary table of the results from the mineralised zone:
|
Hole |
From (m) |
To (m) |
Length (m) |
True width |
g/t Au |
|
Gs2017dd02 |
52.45 |
52.90 |
0.45 |
0.39 |
0.82 |
|
Gs2017dd02 |
52.90 |
53.46 |
0.56 |
0.48 |
0.46 |
|
Gs2017dd02 |
53.46 |
54.03 |
0.57 |
0.49 |
10.62 |
|
Gs2017dd02 |
54.03 |
54.70 |
0.67 |
0.58 |
7.17 |
|
Gs2017dd02 |
54.70 |
55.76 |
1.06 |
0.92 |
0.36 |
|
Gs2017dd03 |
53.43 |
53.78 |
0.35 |
0.30 |
1.97 |
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Gs2017dd03 |
53.78 |
54.30 |
0.52 |
0.45 |
8.64 |
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Gs2017dd03 |
54.30 |
54.64 |
0.34 |
0.29 |
0.73 |
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Gs2017dd03 |
54.64 |
55.64 |
1.00 |
0.87 |
0.55 |
Reminder of the results from the March 29, 2017 press release.
Summary of results from selected samples from gold panner’s bags:
(concentrated samples not representative of the mineralization hosted on the property)
|
Samples |
Au g/t |
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201709011 |
10.87 |
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201709012 |
9.74 |
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201709119 |
23.61 |
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201709120 |
24.35 |
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201709121 |
36.42 |
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201709122 |
22.88 |
Summary of results from perpendicular channel sampling:
(Channel length represents the full true width)
|
Samples |
Geological unit |
Aug/t |
Channel length (cm) |
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201709155 |
Quartz vein |
11.11 |
31 |
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201709156 |
Wall |
0.74 |
10 |
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201709157 |
Quartz vein |
11.13 |
29 |
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201709158 |
Quartz vein |
4.88 |
30 |
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201709159 |
Quartz vein |
8.13 |
30 |
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201709160 |
Wall and Quartz vein |
3.37 |
30 |
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201709151 |
Quartz vein |
23.8 |
68 |
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201709152 |
Quartz vein |
11.1 |
73 |
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201709153 |
Quartz vein |
17.2 |
69 |
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201709154 |
Quartz vein |
11.4 |
70 |
|
201709148 |
Quartz vein |
2.21 |
45 |
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201709149 |
Quartz vein |
10.58 |
45 |
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201709150 |
Wall |
0.99 |
45 |
All assays reported were obtained by standard 30 grams fire-assaying-AA finish or gravimetric finish at the Company’s mine site laboratory. Quality Assurance/Quality Control and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43–101 and industry best practices, including the introduction of standards or blanks with every batch of 3 samples analysed.
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More information about the corporation is available at: http://kometgold.com.
Investors relations and information: André Gagné, President and CEO
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Jacques Marchand, P.Eng. P.Geo., is the Qualified Person who has reviewed this news release and is responsible for the technical information presented herein.
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Forward-Looking Statements
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release contains statements that may constitute “forward-looking information” or “forward-looking statements” as set out within the context of security law. This forward-looking information is subject to many risks and uncertainties, some of which are beyond Komet’s control. The actual results or conclusions may differ considerably from those that have been set out, or intimated, in this forward-looking information. There are many factors which may cause such disparity, especially the instability of metal market prices, the results of fluctuations in foreign currency exchange rates or in interest rates, poorly estimated resources, environmental risks (stricter regulations), unforeseen geological situations, unfavorable extraction conditions, political risks brought on by mining in developing countries, regulatory and governmental policy changes (laws and policies), failure to obtain the requisite permits and approvals from government bodies, or any other risk relating to mining and development. There is no guarantee that the circumstances anticipated in this forward-looking information will occur, or if they do occur, how they will benefit Komet. The forward-looking information is based on the estimates and opinions of Komet’s management at the time of the publication of the information and Komet does not assume any obligation to make public updates or modifications to any of the forward-looking statements, whether as a result of new information, future events, or any other cause, except if it is required by securities laws.
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