top of page
  • Kingsmen Resources

Kingsmen Resources: Soledad Mine Area Multi Element Sample Analysis Yields Significant Results

VANCOUVER, BRITISH COLUMBIA – April 4, 202


Kingsmen Resources Ltd. (TSXV: KNG) (OTCQB: KNGRF) ("Kingsmen" or the "Company") is pleased to report the recent completion of multi-element analyses on all rock samples collected in and around the old Soledad mine area (1.0 square mile) of the total Las Coloradas project. The Las Coloradas project is located 30km from Hidalgo de Parral, Chihuahua, Mexico. Portions of the Soledad structure were mined by ASARCO (American Smelting and Refining Company), the U.S. based subsidiary of Grupo Mexico in the period 1944 to 1952.


The silver values and silver equivalent values for the Soledad Mine area targets and subsidiary structures are presented in Table 1 and Figure 1. Silver equivalent values are overall significantly higher than the silver grades and reflect the silver-lead-zinc gold-copper composition of the mineralization. The Soledad mine area is presently one of four areas recognizable for significant mineralization.


Kingsmen's sampling of residual mineralization in the old workings (where accessible) on the NW-trending Soledad structure/vein system, and subsidiary structures, confirmed the presence of high-grade silver mineralization which likely continues at depth below the water table. Sample widths ranged from 0.5 to 1.3 meters. The Soledad structure/vein system, as currently recognized, is approximately 1.7 km long. Blind extensions to all the mineralized structures, as well as new structures, are likely at depth. The underground ASARCO workings (1943 to 1952) are located on the southern end of the Soledad vein system (Figure 1; Soledad and Rosario shafts). The workings extend in excess of 250 meters along strike and to a vertical depth of approximately 125 meters on four levels. The workings did not extend below the water table.


The mineralization is shallow, high-grade, silver-gold-lead-zinc-copper quartz-calcite veins hosted by all rock types in structures that cut all rock types. The sizes of the old workings suggest the mined mineralization may have been up to several meters in width. The mineralized structures have not been explored by drilling. There are strong similarities/parallels with the mineralization in the underground Santa Barbara mine where vein systems vary from 3 to 6.5 km along strike and the vertical extension of the shoots have a vertical extension of up to 900 meters. The Santa Barbara mine is an underground mining complex belonging to Grupo Mexico, Mexico's largest mining company.

Scott Emerson, President commented: As we continue with our systematic and disciplined exploration approach on this newly consolidated district, the results from the Soledad Mine area are confirming that distinct areas of mineralization are recognizable indicating potential for significant mineralization in the other locales as we identify new and existing target areas for our drill campaign.


Figure 1

To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/9640/204222_7cb57c55b46119b3_003full.jpg


Table 1

Sample

Width (m)

Au ppm

Ag ppm

AgEq ppm

Cu ppm

Pb ppm

Zn ppm


PRSLC-0094

0.8

0.027

81.7

99.6

21

11720

2570


PRSLC-0095

1.3

0.397

97.4

133.3

122

6860

4480


PRSLC-0096

0.9

0.316

144.1

226

150

26550

11540


PRSLC-0097

1

0.494

174.9

232.5

92

23320

2480


PRSLC-0098

0.7

0.218

186.1

200

103

14020

1570


PRSLC-0099

1

0.015

17.6

27.1

45

895

3740


PRSLC-0100

0.9

0.31

69

133.2

123

15710

8280


PRSLC-0101

0.6

0.478

152.7

203.3

198

15040

5100


PRSLC-0102

0.7

0.174

31.7

57.6

158

1340

6150


PRSLC-0103

0.9

0.109

35.7

49

84

2360

2680


PRSLC-0104

0.5

0.23

42.3

63.5

116

2750

2570


PRSLC-0105

0.8

0.006

2.9

18.9

34

63

6130


PRSLC-0106

0.9

0.09

22.8

36.4

45

726

3850


PRSLC-0107

0.5

0.447

484.5

529.7

159

23710

22120


PRSLC-0108

1.3

0.027

7.1

16

54

372

2770


PRSLC-0109

0.9

0.012

5.6

9.4

30

624

949


PRSLC-0110

0.6

0.627

54.7

193

56

43500

4280


PRSLC-0111

0.9

0.083

34.4

58.9

47

6380

4400


PRSLC-0113

0.5

1.288

571.4

919.9

322

162710

6510


PRSLC-0114

0.9

0.647

177.8

301.7

54

47480

4190


PRSLC-0115

1

0.021

3.7

13

72

452

2730


PRSLC-0116

0.5

3.81

246

739.9

86

119010

7560


PRSLC-0117

0.9

0.316

134.8

163.3

42

12030

2610


PRSLC-0118

0.7

0.242

278.2

278.2

140

13630

2370


PRSLC-0119

0.5

0.27

155

194.3

526

15220

5230


PRSLC-0120

1.2

0.007

8.6

10.1

40

603

398


PRSLC-0121

1.3

0.007

9.9

10.8

68

351

369


PRSLC-0125

0.5

3.709

397.2

733

71

59150

10710


PRSLC-0126

0.8

0.035

1.4

7.1

68

68

1080


PRSLC-0127

0.6

1.429

184.8

324.7

37

33870

1310


PRSLC-0128

0.7

0.012

1.9

6.7

61

81

1410


PRSLC-0129

0.5

0.176

23.9

58.8

48

3190

7840


PRSLC-0130

0.5

0.75

138.9

303

130

25620

32340


PRSLC-0131

0.6

0.034

2.2

14.2

47

357

3480


PRSLC-0132

1.3

0.045

38.4

48.9

28

1550

4410


PRSLC-0133

1.1

0.039

9.7

15.3

35

1150

765


PRSLC-0134

0.6

1.304

75.1

197.5

98

7450

11540


PRSLC-0136

0.5

2.06

80.9

258.2

51

16830

5110


PRSLC-0138

0.5

0.393

22

54.0

42

1610

2020


PRSLC-0139

0.7

0.026

10.5

17.2

58

1450

1300


PRSLC-0140

0.5

0.631

534.8

756.4

298

113590

13550


LC-220623-003

Composite

0.25

400

513.1

110

78800

1160


LC-220623-005

0.5

1.09

72.2

303.3

193

57500

17000


LC-220623-006

0.5

0.45

15.9

174.5

133

48600

9480


LC-070723-001

Composite

1.32

108

293.5

30

29600

19800


LC-070723-002

Composite

0.78

108

188.6

72

12900

7440


LC-070723-003

Composite

0.68

132

392.7

164

30800

67000


LC-070723-004

Composite

0

1.36

2.2

2

308

158


LC-070723-005

Composite

0.75

304

661.4

261

65900

86100


PRS-00011

Composite

0.443

83.4

118.6

58

0

7898


PRS-00014

Composite

3.522

60.3

312

72

0

7009


PRS-00023

Composite

1.319

154

250.3

104

0

13235


PRS-00026

Composite

1.709

34.7

170.9

244

0

8604


PRS-00029

Composite

0.965

393

419.6

103

0

13968


 

The silver equivalent calculation utilizes the standard equation and is based on current spot metal prices of silver $25/oz, gold $2163/oz, copper $4.04/lb, lead $$0.98/lb and zinc $1.16/lb. Recoveries are set at 100% for all metals for purposes of the silver equivalent calculation as no metallurgical test data is available. AgEq is used for illustrative purposes only and does not imply that the metals are economically recoverable.


QA/QC ProgramThe QA/QC program employes blanks and certified reference standard, and check sampling. Samples from separate areas were analyzed at Actlabs, Zacatecas. Sealed and tagged sample bags were transported to the laboratory where the entire sample was crushed to a nominal -2 mm, mechanically split to obtain a representative sub-sample and then pulverized to at least 95% -105 microns (µm).


All samples were analyzed for gold by Fire Assay Fusion-AA finish. All samples were analyzed for silver by aqua extraction with ICP finish. Multi-element analysis was by four acid extraction with ICP-OES finish.



About Las Coloradas

The Las Coloradas Project (8.5 km2 -3.3 sq miles) represents a consolidation of a historic mining district which covers numerous silver-gold-lead-zinc-copper mines previously exploited by ASARCO.

Las Coloradas is in the Parral mining district of the Central Mexican Silver Belt and is located approximately 30 kilometers southeast of the city of Hildago de Parral and 40 kilometers east of the San Francisco de Oro and Santa Barbera mining districts where several old major mines are located, such as La Prieta, Veta Colorada, Palmilla, Esmeralda, San Francisco del Oro and Santa Barbara.  As well, new major mining projects are currently being explored in the district; Cordero (Discovery Silver Corp.), 35 kms north of Parral, and La Cigarra (Kootenay Silver Inc.), 35 kms northwest of Parral.  Click here to see locator map, https://www.kingsmenresources.com/area-history.


Qualified Person

Kieran Downes, Ph.D., P.Geo., a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical disclosure set out in this news release.


About Kingsmen Resources

In line with Kingsmen's organic-growth strategy, the Company's focus is on exploration and development, and is currently focused on district-scale exploration for high-margin metallic mineral deposits in the prolific mining districts of Parral Mexico. In addition, the company has a 1% NSR on the Los Ricos North project in Mexico operated by GoGold Resources Inc. The Company's leaders have extensive experience in the mining and financial sectors. Kingsmen is a publicly-traded company (TSXV: KNG; OTCQB: KNGRF) and is headquartered in Vancouver, British Columbia.


On behalf of the Board,

"Scott Emerson"


Scott Emerson, President & CEO

Phone: 604-685-9316


Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statement:

All statements, trend analysis and other information contained in this press release about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. All statements, other than statements of historical fact, included herein, including, without limitation, statements regarding the completion of the acquisition of the Las Coloradas Project and receipt of regulatory approval, are forward-looking statements. Although Kingsmen believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since Kingsmen can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in Kingsmen's periodic filings with Canadian securities regulators, and assumptions made with regard to: Kingsmen's ability to make the required payments under the definitive agreements; and Kingsmen's ability to secure the necessary regulatory approvals. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Important factors that could cause actual results to differ materially from Kingsmen's expectations include risks associated with the business of Kingsmen; risks related to the satisfaction or waiver of certain conditions to the closing of the acquisition of the Las Coloradas Project; non-completion of the acquisition of the Las Coloradas Project; risks related to exploration and potential development of the Las Coloradas Project; business and economic conditions in the mining industry generally; fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; and other risk factors as detailed from time to time and additional risks identified in Kingsmen's filings with Canadian securities regulators on SEDAR in Canada (available at www.sedarplus.ca). Forward-looking statements are based on estimates and opinions of management at the date the statements are made. Kingsmen does not undertake any obligation to update forward looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.

39 views

Comments


bottom of page