Kestrel Option Partner Locates Gold Soil Anomalies and Plans Drilling at QCM Property
NEWS RELEASE
Kestrel Option Partner Locates Gold Soil Anomalies and Plans Drilling at QCM Property Calgary, AB, September 26, 2024: Kestrel Gold Inc. (“Kestrel” or the “Corporation”, TSX-V: KGC) is pleased to provide an update on work completed by Centerra Gold Inc. (“Centerra”) on the QCM gold property (“QCM”) located in the Manson-Germanson area of central British Columbia. Centerra is currently in the process of earning a 75% interest in QCM by making cash payments totaling $900,000 and completing $6,500,000 in exploration work, which must include a minimum of 13,500 metres of drilling, by May 7th, 2029.
Centerra collected 1,245 soil samples from the area of the 14 Vein showing and the Main Zone during May and June. Follow-up soil sampling and prospecting as well as a trial induced polarization (“IP”) geophysical survey over the 14 Vein showing are underway. Current plans are for a reverse circulation (“RC”) drill test of showings and anomalies to commence in early October.
Highlights from Centerra’s soil sampling program show that the 14 Vein showing, where RC drilling in 2022 returned 2.33 g/t Au over 44.19 metres, is located within the northwest portion of an approximate 1.8 kilometre long by up to 500-metre-wide southeast trending gold soil anomaly. Gold values from within this anomaly range from background to 1870.7 ppb with strongly anomalous gold typically associated with anomalous arsenic. The historically recognized gold in soil anomaly located over Main Zone, where hole 2004-002 returned 2.86 g/t Au over 110.95 metres, was extended approximately 550 metres to the southeast of previous limits. Gold values from the southeast extension range from background to 207 ppb.
Showings on Geology (area of detail soil sample maps outlined in gold)
14 Vein Gold in Soil Map
14 Vein Gold in Soil MapGrid soil sampling in the 14 Vein area did not return significant gold anomalies over severalshowings including at Alcove (1.17 g/t Au from a 9.0m chip sample) and at Adit Zonewhere previous soil sampling returned up to 7,689 ppb Au. The loosely defined andsporadic nature of the 1.8 kilometre long by up to 500-metre-wide southeast trending goldsoil anomaly and the lack of anomalies over several showings may be the result of glacialtill dispersion and masking. Ice flow in this area is northwest to southeast
Main Zone Gold in Soil Map
Pat Lynch, President and CEO of Kestrel, states: “We are pleased to see Centerra continue to make quality progress at QCM. The identification of a 1.8 kilometre long by up to 500-metre-wide gold in soil anomaly encompassing the 14 Vein showing suggests strong size potential for this target.We are also excited to see a 550-metre expansion of the gold in soil anomaly overlying Main Zone. Overall, work continues to support our belief that QCM is host to several large-scale gold target sand we look forward to results from the soon to commence drill test of these targets.”
QCM Project Highlights
QCM is comprised of 8,729 hectares covering an approximate 15-kilometre strike lengthof the Manson Fault Zone which is thought to be a controlling structure for much of thegold mineralization in the district
Peak values from historical drilling completed within the Main Zone were found within hole 2004-002 which intersected an interval of 2.86 g/t Au over 110.95 metres, includinga high-grade interval of 173 g/t Au over 1.5 metres, true widths unknown.
Prospecting during 2022 resulted in the discovery of the 14 Vein showing, drilling of which returned 2.33 g/t Au over 44.19 metres. Geology consists of silica-ankerite-pyrite alteredgreywacke cut by sheeted quartz veins. For further details see Kestrel’s October 26, 2022news release:https://www.kestrelgold.com/news/oct-25-2022-e7yzr.
Numerous historical showings occur throughout the project area, including Farrell where historical values of up to 1,777 g/t Au and 3,560 g/t Ag were returned from grab samplesof a 3.0-metre-wide quartz vein and Flagstaff where historical values of up to 5.9 g/t Auand 1,153 g/t Ag were reported for grab samples of quartz veins and stockworks.
Kestrel owns a 100% interest in the QCM Property. For further details see Kestrel’s March22, 2024 news release:https://www.kestrelgold.com/news/march-22-2024. Kestrelsubsequently granted Centerra the option to earn a 75% interest in QCM. For further detailssee Kestrel’s May 8, 2024 news release:https://www.kestrelgold.com/news/may-8-2024.
Recently completed logging and associated road building has significantly improved access throughout the property which is proving of significant value to exploration efforts
About Kestrel Gold
Kestrel Gold Inc. is an exploration company headquartered in western Canada and focused on the Canadian Cordillera. Kestrel owns both a 100% interest in the QCM Property which is an orogenic gold target located in the Manson-Germanson placer district and in the King Solomon’s Dome Property which is an orogenic gold target located in the Yukon portion of the Tintina Gold Belt. Kestrel is listed on the TSX Venture exchange under the symbol KGC. Readers are encouraged to refer to the Corporation’s website “www.kestrelgold.com” for further information.
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.
For further information contact:
Pat Lynch, President and Chief Executive Officer
Office: (403) 660-3329
Email: pat@kestrelgold.com