By January 18, 2013
News release KEX2013-01
Kent Exploration Inc Announces Exploration Permit Granted on Lyell Gold Project in New Zealand
Kent Exploration Inc. (the "Company" or "Kent") reports that New Zealand Petroleum & Minerals ("NZPAM") has granted the Company an Exploration Permit over a portion of the Company's Lyell Gold Project that lies within the highly prolific Westcoast Gold Fields of the South Island of New Zealand.
During the 2009 through 2011 work programs at Lyell, the Company essentially confirmed that the area, including the historic Red Queen Mine, the most profitable quartz-vein gold mine in the area, is highly prospective for high-grade gold mineralization. A work program on Lyell is planned from January through March, 2013.
The historic Red Queen Mine has excellent potential to host significant gold mineralization. Historic production records from early mining suggest that the Red Queen Vein (RQV) may possess average grades as high as 42.86 g/t (1.4 opt) gold (Table 1).
Table 1
Period | Tonnes of Ore | Ounces of Gold Produced | Average Gold Grade (g/t) |
1885-1886 | 1,585 | 2,262 | 44.39 |
1902-1910 | 658 | 842 | 39.17 |
Total | 2,243 | 3,104 | 42.86 (weighted average) |
While production records for subsequent mining in the 1930s - 1940s are not available, historic assay results from sampling are. These historic assay results, as reported in the Company's news release KEX2012-09, indicate bonanza grades of up to 171.48 g/t Au (5.48 opt Au) are present at the Red Queen Mine.
The RQV is relatively extensive where it is exposed by the historic workings, and can been traced over an approximately 300m along strike and 200m down dip. Gold mineralization remains open both up-and down-dip and along strike to the north and south. The two accessible drives, Payne's, approximately 200 meters in length, and Lower Level, approximately 170 meters in length, were driven parallel to the RQV with cross cuts to the vein.
The Company advises that all grades reported are historic in nature and as such, are not NI
