Kestrel Gold Proposes to Acquire King Solomon Dome Gold Project, White Gold/Dawson City District, Yukon Territory
VANCOUVER, BRITISH COLUMBIA–(Marketwire – Sept. 8, 2010) –
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Kestrel Gold Inc. (TSX VENTURE:KGC) has entered in to dual memorandums of bargain to take an choice to consequence a 100% seductiveness in 4 particular properties, collectively good known as the King Solomon Dome Project, located inside of the heart of the Yukon Territory’s world-renowned Klondike Goldfields where sum placer bullion prolongation to date has exceeded thirteen million ounces of gold. The projects have been located 30-60 km southeast of Dawson City and start inside of an area of endless past and benefaction placer mining activity.
To entirely practice the choice on all 4 properties, Kestrel will be compulsory to have staged payments totaling $920,000 over a duration of we estimate 4 (4) years, emanate 150,000 usual shares and account scrutiny losses of up to $100,000. Each particular skill is theme to a 2.5% NSR, 1.5% of which can be purchased for $1,000,000.
Completion of the contract is theme to the parties entering in to decisive agreements by Sep 30, 2010 and germane regulatory physique approval.
The claims have been located inside of the Tintina Gold Belt which extends opposite the Yukon and Alaska and contains multiform vital deposits together with Pogo, Donlin Creek and Fort Knox, as good as brand new poignant discoveries such as White Gold (Kinross/formerly Underworld Resources Inc.), Rau (Atac Resources Ltd.) and Coffee (Kaminak Gold Corp). Project geology consists of assorted schist and gneiss units with mineralization strong inside of quartz veins, changed and sheared or wrongly brecciated host rocks in zones in all parallel, and adjacent, to informal scale bearing faults.
Previous dirt sampling inside of the devise area claims had encountered 3 main supernatural zones, any at slightest 1.0km in length and varying from twenty-five metres to 400 metres in width, with dirt geochemical values of up to 965 ppb Au compared with occasional rarely supernatural arsenic, antimony and lead. This steel signature is usual to White Gold area mineralized zones such as the Golden Saddle and Arc deposits hold by Kinross Gold (formerly Underworld Resources). Recent trenching of these anomalies has encountered mineralization together with slight high-grade zones mostly containing manifest bullion with grades trimming up to 14,700 ppb (14.7g/t) Au over 1.9m, 8100 ppb Au over 1.9m and 40,670 ppb Au (40.7 g/t) over 0.7m; as good as extended intervals with grades such as 1622 ppb (1.6 g/t) Au over 8.4m and 2242 ppb (2.2 g/t) Au over 18.2m.
“These acquisitions will give Kestrel a poignant foothold in the many prolific placer district of the Yukon. The King Solomon Dome devise is deliberate rarely impending since the volume of bedrock bullion mineralization which exists inside of devise boundaries, the poignant volume of placer mining which has taken place inside of and rught away downstream from the properties, and the actuality which no solid training has been finished on any of the bullion mineralized showings. Our devise is to rught away ensue assorted geological studies, basic work and geological compilations in credentials for a vital cavalcade program,” settled Kevin Nephin, President and Chief Executive Officer.
About Kestrel Gold Inc.
Kestrel listed on the TSX-V not long ago and is committed to acquiring, exploring and growth changed steel projects in North and South America. It has an gifted and committed house of directors and the monetary capability to aggressively encounter the objectives.
Technical aspects of this headlines recover have been reviewed and authorized by T.J. Termuende, P.Geo., hereby directed towards as a competent chairman underneath National Instrument 43-101.
On interest of the Board of Directors
Kevin Nephin, President and CEO
Cautionary Statements
This headlines recover contains “forward-looking statements” inside of the definition of germane bonds laws relating to the offer to take an choice in sure scrutiny properties in the Yukon Territory and to commence scrutiny activities thereon. Readers have been cautioned to not place unjustified faith on forward-looking statements. Forward-looking statements have been formed on sure key assumptions done by the Corporation, together with assumptions per the idealisation conditions of the due option, execution of a decisive agreement, the compensation of conditions to the execution of the choice and the taking of all regulatory and batch sell approvals. Actual formula and developments might talk about materially from those contemplated by these statements depending on, between alternative things, the risks which the parties will not ensue with the option, which the idealisation conditions of the choice might talk about from those which now have been contemplated, which the choice will not be successfully finished for any reason (including the disaster to acquire the compulsory approvals or clearances from regulatory authorities. The forward-looking statements in this press recover have been done as of the date of this recover and the Corporation undertakes no requisite to refurbish publicly or correct any forward-looking statements either as a outcome of brand new report or otherwise, solely as compulsory by germane bonds laws. The Corporation undertakes no requisite to criticism on analyses, expectations or statements done by third-parties in apply oneself of the Corporation or the monetary or handling formula or (as applicable) their securities.
The TSX Venture Exchange has not reviewed and does not accept shortcoming for the endowment or correctness of this headlines release.
