Kaminak Gold

Kaminak's Kona area is 6km away from the Double Double zone. (Image Kaminak)

Kaminak Gold - (KAM:TSX) - Kaminak has released drill results from the Kona North and Dolce areas of the Coffee gold project in the Yukon. Kona North is 1km north of the Kona deposit while Dolce is 1.1 km south. The Kona deposit is small and contributed ~26,000 recoverable oxide gold ounces to the Coffee PEA.

Kona North and Dolce are granite hosting and broadly east-west striking just like Kona.

Highlights include:

  • Kona North - CFR0976 50.3m of  2.43 g/t starting at 30m;
  • Kona North -  CFR0968 22.86 m of 1.56 g/t starting at 28.96m.

Kona North has only been tested so far for roughly 300m of the 1.8 kilometre soil anomaly. With the 10 holes drilled in April Kaminak believes the depth extent of  oxide and transitional mineralization appears to be quite shallow at Kona North compared to the rest of the Coffee deposits.  As a result, Kona North is now pending further analysis to determine if it will be included in the overall Coffee feasibility study.

Dolce is following up on drill results from 2014 on a 1 kilometre long soil anomaly.  Drill results released from this zone were mediocre with short intercepts of lower grade (1-3 g/t) for the most part.

Kaminak stock chart

Kaminak chart started the year off with a nice move from the 75 cent level to a $1.10. The stock has since had a healthy correction and is back to the 80 cent level which it bounced off of in the middle of March.

The stock is trading at the exact price (80 cents) that mining legends Ross Beaty and Lukas Lundin invested in on July 22,2014 (they did get warrants though).

I listened to CEO, Eira Thomas' presentation at the Metals Investor Forum last Saturday here are my notes from CEO Chat along with member Dan.

Kaminak CEO chat

Kaminak remains fully funded with the completion of the FS expected in Q1 2016.

Read: Kaminak Reports Kona North & Dolce Drill Results from the Coffee Gold Project Highlights Include: 2.43g/t Au over 50.3m

Related: Kaminak Gold will focus on feasibility study in 2015, permitting in 2016