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 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 about 16 discovery-stage projects elsewhere in North America, including several gold-silver projects in northwestern British Columbia and some half-dozen early stage non-diamond projects in Nunavut.
Kaminak has focused recently on its 15-kilometer-by-5-kilometer Coffee Gold Project located in the White Gold District of west-central Yukon.
The company's C$15 million phase 1 exploration program for 2011 marks the second year of drilling at Coffee where it reported eight gold discoveries in 2010.
In addition to collecting 10,000 soil samples, the junior focused on 40,000 meters of diamond and reverse circulation drilling across the property, reporting numerous intercepts by August with assays yielding up to 74.9 grams per metric ton gold over 4 meters starting at a depth of 105 meters in the Double Double Zone and continuous high-grade, near-surface and oxidized gold, particularly in the Supremo Zone.
Kaminak said gold-in-soil data and geophysical/structural interpretations suggest the Supremo gold-bearing structures extend towards the Connector and Latte gold zones, and northward toward the Macchiato/Cappuccino zones, for a possible potential strike length exceeding 2.5 kilometers (1.5 miles).
In addition, Kaminak is building a 15-kilometer- (9-mile-) long gravel road that will connect the Coffee Camp and airstrip to the main drill areas of Latte, Connector, Double Double and Supremo. The road was expected to be completed by the end of the third quarter and will allow the company to extend future drill seasons and reduce aircraft costs. The company also said it is planning to continue to carry out exploration of its mineral properties and to evaluate new prospects and opportunities.
Cash and short-term deposits: C$25.53 million (June 30, 2011)
Working capital: C$24.62 million (June 30, 2011)
Market capitalization: C$136.59 million (Sept. 9, 2011)
1440 - 625 Howe St.
Vancouver, B.C., Canada V6Z 2T6
Tel: 604 646-4527 Fax: 604 646-4526
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