The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
KAM: TSX-V
President and CEO: Rob Carpenter, Ph.D., P. Geo.
Chairman: John Robins, P.Geo.
Chief Geologist: Craig S. Finnigan, Ph.D.
Kaminak Gold Corp., formed in 2005 in British Columbia, is a prospect generator recently focused on early-stage mining opportunities in northwestern Canada. Adhering to a philosophy of forming strategic partnerships such as joint ventures, Kaminak is working to advance at least 16 discovery-stage projects in Yukon Territory, Nunavut, British Columbia and other Canadian provinces. The junior continues to maintain a healthy treasury and a very low corporate burn-rate, while remaining debt free.
In addition to spinning out a uranium junior, Kivalliq Energy Corp. and making significant strides in uranium exploration in Nunavut in 2008 and 2009, Kaminak has focused recently on acreage in the White District of Yukon Territory some 25-30 kilometers, or 16-19 miles, south of Underworld Resources' 2008 White Gold discovery.
After reporting very promising soil sampling and trenching results at the Coffee property in 2009, Kaminak went on to make several significant gold discoveries on the Coffee property in 2010.
The company now believes its Coffee Project has excellent potential to host a 3- to 5-million-ounce resource in "Underworld-style," gold deposits.
Kaminak will drill 10,000 to 15000 meters in 2010, and spend about C$8 million.
The junior had completed 10,000 meters in 43 holes in early August and based on assay results from the first 24 holes, enjoyed a 75 percent success ratio.
Kaminak is focusing on five of the 11 targets where it has reported high-grade gold intercepts recently - Kona, Americano, Latte, Supremo and Double Double.
Exploration, so far, has revealed that the Supremo zone, where the discovery hole was drilled in 2009, is not one but six different structures, while the largest zone may be the Americano zone.
Kaminak also staked another 750 mineral claims (37,500 acres, or 15,182 hectares), expanding the Coffee property to 1,803 claims totaling 90,150 acres, or 36,498 hectares.
Kaminak also owns the Cry Lake gold-silver project, formerly known as the Nizi Creek gold-silver project, in northwestern British Columbia 80 kilometers, or 50 miles, northeast of Dease Lake, B.C. Its project partner Solomon Resources Ltd. planned a significant drill program on the property in 2010.
Cash and short-term deposits: C$5.1 million (June 30, 2010)
Working capital: C$5.47 million (June 30, 2010) (raised C$14,503,810 in July 2010 in private placement)
Market capitalization: C$207.04 million (Sept. 10, 2010)
1440 - 625 Howe St. Vancouver, BC Canada V6Z 2T6
Tel: 604 646-4527 Fax: 604 646-4526
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