Kingsview Minerals Reports High-Grade Gold Values in Surface Samples at Hubcap Project in Wawa, Ontario
Toronto, Ontario--(Newsfile Corp. - January 31, 2023) - Kingsview Minerals Ltd. (CSE: KVM) (FSE: 0L4) (the "Company" or "Kingsview") is pleased to announce results from a field sampling program at the Hubcap Project in the active Wawa Gold Corridor of northern Ontario.
The exploration carried out during the summer of 2022 is part of a multi-phase program across the 11,854-hectare property portfolio and included field sampling of target areas at both Echum and Hubcap Projects. Current sampling results reported are focused on the Hubcap Project located immediately south of Red Pine Exploration's Wawa Gold Project which recently reported a drill intersection of 5.13 g/t Gold ("Au") over 37.47 metres ("m")*.
Hubcap sampling results included E682881, which graded 14.50 g/t Au, 57.10 g/t Silver ("Ag") and 2.41% Copper ("Cu"); E682878, which graded 2.95 g/t Au, 34.90 g/t Ag and 1.83% Cu; and E5105208, which graded 2.14 g/t Au, 62.80 g/t Ag and 3.16% Cu. Significant sample intervals are detailed below (See Table 1).
"Feedback from our field sampling suggests that the greenstones and intrusive rocks found on Hubcap resemble the regional geologic setting that has brought our northern neighbours so much success. We hope to replicate that success, given the encouraging strong gold values at Hubcap associated with strong alteration, sulphides and structural deformation. The results provide excellent targets for our future exploration including drilling," stated President and CEO James Macintosh.
Figure 1: Kingsview Minerals Hubcap Project Samples Location Map
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* The Projects are at an early stage of exploration, and the Company cautions that the qualified persons who have reviewed and approved this news release have not verified scientific or technical information produced by third parties, and proximity to projects containing mineral resources offers no assurance that the rock types or mineral resources reported by Red Pine and others extend onto the Projects and such proximity is not necessarily indicative of the mineralization reported by third parties with projects in the district.
|Sample Number||Au (g/t)||Ag (g/t)||Cu (%)||Zn (%)|
Table 1: Kingsview Minerals Hubcap Project Field Sampling Highlights**
** All sample values are from grab samples which by their nature are not representative of overall grades of mineralizaed areas. Readers are cautioned to not place undue reliance on the assay values reported in the table above. The 17 samples above are part of a suite of 142 samples collected and assayed. Assay values for the samples not reported ranged from trace to approximately 1 g/t gold.
Bruce Durham, P.Geo., is a Qualified Person, as that term is defined by Canadian regulatory guidelines under NI 43-101, and has read and approved the technical information contained in this press release.
About Kingsview Minerals Ltd.
Kingsview is a mineral exploration company focused on its gold and base metal exploration properties, including the flagship Echum Project and the Hubcap Project, located in the active Wawa Gold Corridor in Ontario, Canada. The Company's properties are surrounded by advanced infrastructure in a well-developed mining district. Kingsview will draw on its strong technical team with significant exploration success to advance its properties.
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On Behalf of the Board of Directors,
President and CEO
Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepted responsibility for the adequacy or accuracy of this press release.
This press release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and assumptions and accordingly, actual results and future events could differ materially from those expressed or implied in such statements. You are hence cautioned not to place undue reliance on forward-looking statements. Forward-looking statements include words or expressions such as "proposed", "will", "subject to", "near future", "in the event", "would", "expect", "prepared to" and other similar words or expressions. All statements other than statements of present or historical fact are forward-looking statements and include but are not limited to statements regarding the potential that the projects will yield any precious metals in future exploration programs and the Company's ability to advance its properties.
Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is based on assumptions made in good faith and believed to have a reasonable basis. Such assumptions include the Company's ability to implement a drill program on the projects, that the Company will have sufficient funds available to it and that the Company will continue to be able to retain skilled personnel. Factors that could cause future results or events to differ materially from current expectations expressed or implied by the forward-looking statements include general business, economic, competitive, political and social uncertainties; the state of capital markets; there being no assurance that any future exploration program on the projects will result in mineral resources; the inability of the Company to raise sufficient funds and/or retain necessary personnel to conduct its operations; the impact on the business, operations and financial condition of the Company resulting from the announcement of the purchase of the projects; the impact that the recovery post COVID-19 may have on precious metals; failure to realize the anticipated benefits of the transaction described in this press release; other unforeseen events, developments, or factors causing any of the aforesaid expectations, assumptions, and other factors ultimately being inaccurate or irrelevant; and any risks associated with the ongoing COVID-19 pandemic.
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