Vancouver, B.C. (February 11, 2021) Kingman Minerals Ltd. (TSX-V:KGS) (FSE:47A1) (“Kingman” or the “Company”) is pleased to announce that the Company has engaged Godbe Drilling of Montrose, Colorado to complete the Phase I Drill Program on the Mohave Project. A total of 5 holes will be drilled to a maximum depth of 890ft. Godbe Drilling is a family-owned diamond core drilling company established in 1994, with the management and field experience of a 40-year veteran. The Godbe name is synonymous with the mining industry.
In early 2020, Burgex Mining Consultants (“Burgex”) were contracted by the Company to determine the accessibility of the Rosebud Gold Mine and complete two underground sampling programs. During the first program, Burgex was able to use ropes and ladders to assess the safety and stability of the main production shaft and lower themselves down to the 100-foot level of the abandoned mine. Below the 100ft level the shaft was blocked by debris and garbage, which Burgex was able to successfully clear during this second program in order to gain access to the 200ft level. Additional debris was blocking the shaft below the 200ft level preventing them from accessing the 250ft level.
A photo tour, videos and additional details of the first and second reconnaissance programs are available on Company website at https://kingmanminerals.com/projects/mohave-project/first-underground-program/ and https://kingmanminerals.com/projects/mohave-project/2nd-phase-underground-reconnaissance- sampling-program
Since the completion of these programs, the Company has continued to actively work on analyzing the results and validating the historical work and resource estimates done on the Mohave Project, where possible. All information will be included in a current NI 43-101 report. Under NI 43-101 guidelines, some of the historical information can be relied upon and included, however the Company is not able to rely on all of it. Kingman will continue to advance the project with further exploration work through the completion of the Phase 1 drill program.
“With the completion of this phase of drilling, we expect to further verify historical estimates and produce a current and complaint NI 43-101 resource estimate. The Company is exceptionally excited about advancing this project and with the forecast for gold prices remaining strong, there is enormous potential for defining an economical resource” commented Sandy MacDougall, Chairman and Director.
Kingman Minerals Ltd. is currently engaged in the business of precious metal mineral exploration for the purpose of acquiring and advancing non grass roots mineral properties located in mining friendly jurisdictions of North America.
The Mohave Project (the “Project”) is located in the Music Mountains in Mohave County, Arizona and is comprised of 71 lode claims which are inclusive of the past producing Rosebud Mine (the “Rosebud”). High grade gold and silver veins were discovered in the area in the 1880’s and were mined mainly in the late 20’s and 30’s. Underground development on the Rosebud property included a 400-foot shaft and approximately 2,500 feet of drifts, raises and crosscuts.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes statements regarding, among other things, the completion transactions completed in the Agreement. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, regulatory approval processes. Although Kingman believes that the assumptions used in preparing the forward-looking information in this news release are reasonable, including that all necessary regulatory approvals will be obtained in a timely manner, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Kingman disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable securities laws.