Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Kaminak Validates Heap Leach Process at Coffee Gold Project
Oxide Gold Recoveries of greater than 90% in 40 Days on 1 inch Crushed Material
http://kaminak.com/investors/news_releases/index.php?&content_id=537
Tamtam
$KMKGF - Kaminak Coffee Drilling Links Supremo T5 and T7 Gold Zones
New Results include: 6.2g/t Au over 12.2m, 5.7g/t over 6.1m and
2.8g/t Au over 12.2m
http://kaminak.com/investors/news_releases/index.php?&content_id=534
... "Vancouver, B.C. – Kaminak Gold Corporation (KAM: TSX-V) today announced the delineation of new extensions of shallow oxide gold mineralization on the Company’s Coffee Gold Project, Yukon Territory linking the Supremo T5 and T7 zones. Drilling identified a new structure - the ‘T5 Splay’ – with strike extent of at least 450m trending northeast from the southern section of the T5 zone. Drilling also extended T7 up to 400m southwards along strike where it appears to intersect or merge with the T5 Splay. The total strike length of the Supremo T5 and T7 gold zones are 1.7km and 950m respectively. Furthermore, Kaminak has now delineated over 10km of mineralized strike within the Supremo-Latte-Double Double area, which is where the bulk of the inferred resource estimate resides. The T5 Splay is another example that proves that the Coffee deposits are all connected as part of a single, large, structurally controlled hydrothermal gold system." ...
You have beaten me on the news Tommy
I like this potential starter pit mining opportunities
Tamtam
$KMKGF - Kaminak's Coffee Infill Drilling Program at Latte Deposit Demonstrates Continuity and Intersects High-Grade Zones
New Results include: 9.54g/t Au over 6m , 13.21g/t over 5m, 2.44g/t Au over 55m, 1.92 g/t Au over 85m and 19.11g/t Au over 3m
Print Page View News Release in PDF Format
November 7, 2013
http://kaminak.com/investors/news_releases/index.php?&content_id=532
... "Vancouver, B.C. – Kaminak Gold Corporation (KAM: TSX-V) today announced the results of an infill delineation drilling program at Latte targeting the central zone of the deposit and representing approximately 500m of its’ more than 2km of mineralized strike-length, which remains open along strike and to depth. As previously disclosed, the Latte deposit is one of several gold deposits located within the company’s Coffee Gold Project and contributes approximately 1.1 Moz of the previously reported 3.2 Moz NI 43-101 Inferred Mineral Resource Estimate, consisting of 64 million tonnes grading at 1.56 grams per tonne gold (“g/t Au”) at a base case cut-off of 0.5g/t Au for Oxide and Transitional material and a 1g/t Au cut-off for Sulphide material.
Highlight Intercepts include:
9.54g/t Au over 6.1m from 60.96m down hole depth in CFR0554
13.21g/t over 4.58m from 77.72m down hole depth in CFR0558
2.44 g/t Au over 54.86m from 67.06m down hole depth in CFR0565
1.92 g/t Au over 85.35m, from 50.29m down hole depth in CFR0567
1.65g/t over 82m from 120m down hole depth in CFD0342
19.11g/t Au over 3.04m from 82.3m down hole depth in CFR0576
Eira Thomas, CEO commented: “Kaminak completed a short infill drilling program at Coffee in 2013 targeting those areas of the resource that could represent high value, potential starter pit mining opportunities for the project. The first results of that program announced today from Latte were encouraging, demonstrating good continuity of mineralization at tighter drill spacing and further defining high grade zones within the central core of the deposit. These results will contribute to an updated 43-101 resource estimate towards year-end followed by the initiation of a Preliminary Economic Assessment in early 2014.”_ ...
Kaminak Announces Closing of $2.8 Million Bought Deal Private Placement
September 24th, 2013
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Vancouver, British Columbia – Kaminak Gold Corporation (KAM: TSX-V) (“Kaminak” or the “Company”) is pleased to announce that the Company has closed the bought deal private placement financing (the “Offering”) announced on September 5, 2013 and that the over-allotment option was fully exercised. The Company issued Class A common shares, which qualify as “flow-through” shares for purposes of the Income Tax Act (Canada) (the “Shares”) at a price of C$0.95 per Share for aggregate gross proceeds of C$2,895,125.00. The proceeds of the Offering will be used by the Company to conduct exploration work on its Canadian properties.
The Offering was led by Raymond James Ltd., and included RBC Dominion Securities Inc., Beacon Securities Limited, Canaccord Genuity Corp., Cormark Securities Inc., and Mackie Research Capital Corporation (collectively the "Underwriters"). In connection with the Offering, the Underwriters received a cash commission on the sale of the Shares, representing 6% of the aggregate gross proceeds raised. The Shares issued under the Offering are subject to a hold period which will expire four months and one day from the date of closing, being January 25, 2014.
On behalf of the Board of Directors of Kaminak
“Eira Thomas”
Eira Thomas
President and CEO
Kaminak Gold Corporation
Thanks TT, I suppose that will slightly delay the resource update that was to have been late this year, but as for sake of more assay inclusion I can live with that. Nice to see a company that does not need to add in warrants in its placements.
Kaminak Announces $2.5 Million Bought Deal Private Placement and Extends 2013 Coffee Drill Program
September 5, 2013
Vancouver, B.C. – Kaminak Gold Corporation (KAM: TSX-V) is pleased to announce that it has appointed Raymond James Ltd. to lead a syndicate of underwriters, which includes RBC Dominion Securities Inc., Beacon Securities Limited, Canaccord Genuity Corp., Cormark Securities Inc. and Mackie Research Capital Corporation, to sell by way of private placement on a "bought" deal basis, $2.5 million of flow-through shares at an issue price of $0.95 per flow-through share (the "Offering").
"This financing allows us to maintain our aggressive pace of exploration by extending the 2013 Coffee drill program into the fall while still leaving us with a strong treasury going into 2014," stated Eira Thomas, Kaminak's President & CEO. "Drilling this year has already exceeded our 35,000m plan, while still remaining within the original announced budget of $11 million. Our objective is to continue to advance and de-risk Coffee as quickly as possible in order to demonstrate viable economics."
The underwriters will have an over-allotment option, exercisable at any time prior to the closing date, to acquire up to an additional number of flow-through shares equal to 15% of the number of flow-through shares sold pursuant to the Offering, at the issue price per flow-through share.
The flow-through shares will be subject to a four-month hold period under applicable Canadian securities laws. Closing is expected to be on or about September 24, 2013.
The Company intends to use the net proceeds of the Offering to fund exploration of the Company's gold properties and for general working capital purposes.
The Offering is being made in all provinces of Canada via private placement, and other jurisdictions as may be determined between the Company and the underwriters, and is subject to the approval of regulatory authorities. The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
In connection with the Offering, the Company has agreed to pay the Underwriters a cash commission on the sale of the Flow-Through Shares, representing 6% of the aggregate gross proceeds raised.
Looks like the 2013 work program has been pretty successful (so far).
There is some very nice news on the continuity and linkage between prior work areas hidden in that release. Also good to hear the large sampling program over some of the huge land package has completed - could make the next season exciting if they choose to test many new targets as a result.
Thx TT for the post.
Kaminak Drilling Extends Near-Surface Oxide Gold Mineralization Along Strike at Coffee
August 8, 2013
Vancouver, B.C. – Kaminak Gold Corporation (KAM: TSX-V) today announced results for 54 drill holes from the ongoing 2013 drilling campaign at the Coffee Gold Project, Yukon Territory. Drilling successfully identified shallow, predominately oxidized gold-bearing structures within the Supremo-Latte-Double Double area, which is host to the majority of the 3.2Moz NI 43-101 Inferred Mineral Resource Estimate consisting of 64 million tonnes grading at 1.56 grams per tonne gold (“g/t Au”) at a base case cut-off of 0.5g/t Au for Oxide and Transitional material and a 1g/t Au cut-off for Sulphide material. Drill results are presented from Supremo T1-7, Connector and Latte zones from drill campaigns that extended the known zones of mineralization along strike, across strike and to depth.
Highlights
Supremo ‘T’ Structures: Drilling continued to successfully extend additional, near surface oxide gold mineralization in the ‘T’ structures. Results include: 3.53 grams per tonne gold (g/t Au) over 18.28 metres from 158.50 metres downhole in T2; 9.84g/t Au over 6.10m from 134.11m in T5; 8.68g/t Au over 4.57m from 35.05m in T3; 2.06g/t Au over 6.10m from 68.58m in T7; and 2.69g/t Au over 44m from 6m in T1.5 (drilled obliquely down-dip).
Supremo-Latte Connector: Multiple oxide gold-bearing structures intersected within this complex fracture zone marking the intersection point between the Supremo and Latte mineralized structures. Results include: 5.67g/t Au over 16m from 95m.
Latte: Step out drilling west along strike beyond the existing Latte zone extended the Latte mineralized structure for an additional 300 metres. The total strike length of Latte is now in excess of 2 kilometres and still open. Results include: 2.91g/t Au over 6m from 95m.
2013 Exploration Program Update: The Coffee 2013 drilling is ongoing and has now surpassed 40,000m whilst remaining on schedule and within the Phase 1 budget of $11M. In addition to the drill program, which will be incorporated into an updated resource estimate this year, collection of metallurgical, geotechnical, hydrogeological and environmental data is ongoing with the objective to support a Preliminary Economic Assessment to be formally commenced in early 2014. Also, an extensive soil sampling campaign that includes 5,026 samples was recently completed with the objective of identifying future drill targets. The Company is debt-free and fully financed to complete its 2013 objectives and commencement of a 2014 exploration program.
Kaminak President and CEO, Eira Thomas, commented: “Kaminak is nearing the end of a well executed, successful drilling campaign that has focused on delineating near-surface oxide gold mineralization in the Supremo-Latte-Double Double areas at Coffee in support of our first Preliminary Economic Analysis, set to commence in early 2014. While we have yet to define the limits of this extensive, structurally controlled, hydrothermal gold system, where an Inferred NI 43-101 resource of 3.2 million ounces was established in 2012, drilling this year has so far demonstrated good continuity and connectivity between the deposits. Further, we have continued to delineate near surface, potentially heap leachable, high grade zones that could represent accessible, early stage mining opportunities. Indeed, the presence of considerable shallow, high grade ounces within the block model is a distinct advantage for the Project as we begin to investigate future mining scenarios that take a disciplined approach towards capital investment and work to maximize margins.”
Drilling Results
The drilling program is ongoing with one reverse circulation (RC) drill and one diamond core drill and over 40,000 metres of drilling has been completed to date. Drilling is predominantly focusedon targeting those areas that could positively impact mining economics by extending proximal, near surface oxide mineralization in the vicinity of the known deposits. Specifically, Kaminak is aiming to delineate additional mineralization along- and across-strike on the Supremo ‘T’ structures, the Latte trend, and the Connector area which marks the intersection of these two zones. Priority is also being given to the ongoing testing of previously undrilled geochemical anomalies in other parts of the Supremo-Latte-Double Double area.
Supremo
Drilling targeted all of the Supremo ‘T’ structures, from T1 to T7, comprising mainly incremental step-outs along strike of existing mineralized zones, including T7, which was extended an additional 200m along strike to the north and south for a total strike length of at least 800m and remaining open to the north and south.
Drilling also targeted intermediate structures between the principal ‘T’ structures, which could potentially have a positive impact on open pit mining economics. A new structure named T1.5, intermediate between T1 and T2, comprised an initial diamond core drill intercept of 2.69g/t Au over 44m from 6m (CFD0298) drilled sub-parallel down the structure. Follow-up drilling orthogonal to strike and dip indicates the structure strikes northeast between the T1 and T2 structures over approximately 150m strike length suggesting a new style of linking structure between the main ‘T’ zones and highlighting the connectivity between structures within the overall hydrothermal mineralized system.
Drilling also targeted down-dip extensions to the known mineralized trends within 0-200 metres below surface, including the T2 zone which returned intercepts below previous shallow RC drill fences comprising 3.24g/t Au over 15.24m from 120.4m (CFR0493) and 3.53g/t Au over 18.28m from 158.50m (CFR0494).
Supremo-Latte Connector Zone
The Supremo-Latte Connector Zone is interpreted to be a highly prospective area for increased deformation, fluid flow and mineralization due to the intersection of the north to northeast trending Supremo T2, 3 and 4 trends with the east-west Latte trend. Additional follow-up diamond core drilling was undertaken to gain additional data on the geometry of the mineralized lodes. The current interpretation is that the Supremo T2, 3 & 4 structures splay from the Latte structure at a steep angle. The highlight drill intercept was 5.67g/t over 16m from 95m in CFD0303 at the point at which T4 splays from the Latte structure.
Latte
Drilling along strike extended the mineralized trend 300m west and definitively linked Latte with the ‘Latte Extension’ drill prospect (3.04g/t Au over 6m in CFD069 drilled in 2010) thereby establishing total continuously mineralized strike length along the overall Latte Trend of over 2 kilometres. Gold-in-soil and aeromagnetic interpretation indicates that the Latte Structure is prospective for discovery of additional gold mineralization over a total strike length of 6 kilometres.
Assay Table
Drill Hole Structure/Target From
(m) To
(m) Width
(m)* Weighted grade
(g/t Au)
Supremo Zone
CFR0503 Supremo T1 3.05 10.67 7.62 2.56
CFD0298 Supremo T1 150.00 151.00 1.00 1.22
And Supremo T1 162.00 163.00 1.00 1.53
CFD0299 Supremo T1 160.00 162.00 2.00 5.40
CFR0490 T1-2 Link 70.10 71.63 1.53 1.96
And T1-2 Link 74.68 76.20 1.52 1.48
And T1-2 Link 155.45 156.97 1.52 3.14
CFR0491 T1-2 Link 41.15 42.67 1.52 1.48
CFR0492 T1-2 Link 32.00 36.58 4.58 0.82
And T1-2 Link 51.82 54.86 3.04 1.11
CFD0297 T1-2 Link 75.00 76.00 1.00 3.82
CFD0298** T1.5 6.00 50.00 44.00 2.69
CFR0500 T1.5 NSV
CFR0501 T1.5 NSV
CFR0502 T1.5 NSV
CFR0522 T1.5 47.24 53.34 6.10 1.12
CFR0523 T1.5 161.54 164.59 3.05 3.17
CFR0524 T1.5 39.62 42.67 3.05 2.17
CFR0525 T1.5 79.25 82.30 3.05 0.85
CFR0493 Supremo T2 120.40 135.64 15.24 3.24
And Supremo T2 138.68 144.78 6.10 0.96
And Supremo T2 166.12 167.64 1.52 2.16
CFR0494 Supremo T2 120.40 121.92 1.52 2.03
And Supremo T2 146.30 150.88 4.58 1.49
And Supremo T2 158.50 176.78 18.28 3.53
CFD0295 Supremo T2 34.00 35.00 1.00 2.76
And Supremo T2 122.00 123.00 1.00 2.35
And Supremo T2 137.00 138.00 1.00 5.55
And Supremo T2 143.00 144.00 1.00 2.54
And Supremo T2 158.00 162.00 4.00 2.50
And Supremo T2 179.00 181.00 2.00 3.01
CFD0296 Supremo T2 38.00 39.00 1.00 5.87
And Supremo T2 46.00 49.00 3.00 9.01
And Supremo T2 55.00 60.00 5.00 6.48
And Supremo T2 76.00 78.00 2.00 1.48
And Supremo T2 95.00 96.00 1.00 3.44
And Supremo T2 100.00 102.00 2.00 3.82
And Supremo T2 121.00 124.00 3.00 1.23
CFR0482 Supremo T3 18.29 19.81 1.52 0.99
CFR0483 Supremo T3 NSV
CFR0484 Supremo T3 35.05 39.62 4.57 8.68
And Supremo T3 85.34 88.39 3.05 4.31
And Supremo T3 102.11 103.63 1.52 2.55
CFR0485 Supremo T3 76.20 77.72 1.52 4.14
And Supremo T3 149.35 152.40 3.05 6.34
CFR0495 Supremo T3 4.57 10.67 6.10 1.67
And Supremo T3 15.24 16.76 1.52 5.73
CFR0486 Supremo T5 77.72 80.77 3.05 2.41
CFR0487 Supremo T5 35.05 39.62 4.57 1.09
And Supremo T5 134.11 140.21 6.10 9.84
CFD0300 Supremo T5 NSV
CFD0301 Supremo T5 171.00 174.00 3.00 2.60
And Supremo T5 215.00 221.00 6.00 2.33
And Supremo T5 256.00 258.00 2.00 2.33
And Supremo T5 277.00 278.00 1.00 2.98
And Supremo T5 305.00 307.00 2.00 1.45
And Supremo T5 320.00 321.00 1.00 2.19
CFD0310 Supremo T5 NSV
CFD0311 Supremo T5 66.00 67.00 1.00 3.20
And Supremo T5 120.00 125.00 5.00 1.30
And Supremo T5 131.00 145.00 14.00 2.62
And Supremo T5 150.00 153.00 3.00 0.99
And Supremo T5 162.00 164.00 2.00 1.29
CFD0313 Supremo T5 98.00 106.00 8.00 1.97
And Supremo T5 119.00 121.00 2.00 2.21
CFR0475 Supremo T7 41.15 42.67 1.52 1.78
And Supremo T7 68.58 70.10 1.52 1.69
And Supremo T7 76.20 77.72 1.52 4.53
CFR0476 Supremo T7 4.57 9.14 4.57 1.22
And Supremo T7 147.83 152.40 4.57 0.95
CFR0477 Supremo T7 57.91 60.96 3.05 1.53
And Supremo T7 65.53 68.58 3.05 2.26
And Supremo T7 134.11 140.21 6.10 1.22
And Supremo T7 192.02 196.60 4.58 2.03
CFR0478 Supremo T7 15.24 16.76 1.52 3.72
And Supremo T7 76.20 80.77 4.57 2.69
CFR0479 Supremo T7 109.73 111.25 1.52 1.53
And Supremo T7 126.49 129.54 3.05 0.94
And Supremo T7 184.40 187.45 3.05 1.96
CFR0480 Supremo T7 94.49 97.54 3.05 1.32
CFR0481 Supremo T7 111.25 114.30 3.05 1.27
And Supremo T7 120.40 124.97 4.57 0.87
CFR0504 Supremo T7 123.44 132.59 9.15 0.64
CFR0505 Supremo T7 NSV
CFR0506 Supremo T7 188.98 199.64 10.66 1.04
CFR0507 Supremo T7 68.58 74.68 6.10 2.06
And Supremo T7 132.59 138.68 6.09 2.04
And Supremo T7 147.83 150.88 3.05 2.10
CFR0489 Supremo Regional NSV
Supremo - Latte Connector Zone
CFD0302 Connector 75.00 87.00 12.00 1.55
And Connector 175.00 177.00 2.00 1.73
And Connector 199.00 200.00 1.00 5.65
And Connector 206.00 214.00 8.00 1.83
And Connector 224.00 230.00 6.00 2.27
CFD0303 Connector 95.00 111.00 16.00 5.67
CFD0304 Connector 79.00 82.00 3.00 1.67
And Connector 108.00 109.00 1.00 4.73
And Connector 154.00 156.00 2.00 1.68
And Connector 209.00 211.00 2.00 1.22
CFD0305 Connector 86.00 87.00 1.00 3.60
And Connector 153.00 155.00 2.00 1.98
And Connector 198.00 203.00 5.00 2.01
CFD0306 Connector 172.00 180.00 8.00 1.50
And Connector 210.00 211.00 1.00 3.76
Latte Zone
CFD0291 Latte West 152.00 153.00 1.00 1.85
CFD0292 Latte West 95.00 101.00 6.00 2.91
CFD0293 Latte West 32.00 34.00 2.00 3.05
And Latte West 155.00 156.00 1.00 1.53
CFD0294 Latte West 14.00 15.00 1.00 1.21
And Latte West 33.00 34.00 1.00 1.34
Double Double Zone
CFR0508 DD South NSV
CFR0509 DD South 0.00 6.10 6.10 1.03
*True width estimated at approximately 2/3 down-hole length.
** Intercept drilled sub-parallel or oblique to strike of mineralized structure
All maps, sections and assay sheets are currently available on the Kaminak website, www.kaminak.com.
QA / QC
Kaminak's disclosure of a technical or scientific nature in this press release has been reviewed and approved by Rory Kutluoglu, P.Geo., Exploration Manager of Kaminak Gold Corporation, who serves as a Qualified Person under the definition of National Instrument 43-101. Quality assurance and quality control procedures include the systematic insertion of blanks and standards into the drill sample string. Samples are placed in sealed bags and shipped directly to the ALS Minerals preparatory laboratory in Whitehorse prior to gold fire assay.
On behalf of the Board of Directors of Kaminak
"Eira Thomas"
Eira Thomas
President and CEO
Kaminak Gold Corporation
probably not much of any premium actually when you consider these are flow-through shares carrying a tax writeoff to the holders (and reducing Kaminak's stockpiled tax deductions).
Still, nice to see they could raise funds without giving warrants.
Not only the hefty amount of warrants draw my attention but also the 0.95 which is a premium of current sp.
Tamtam
Not a lot of equity financings happening that do not include hefty amount of warrants. Shows Kaminak is still among the few making the radar screens, and if I recall correctly this just about restores the treasury after this season's spending.
$KMKGF - $KAM.V - Kaminak Announces Closing of $5 Million Bought Deal Private Placement
http://www.marketwire.com/press-release/kaminak-announces-closing-of-5-million-bought-deal-private-placement-tsx-venture-kam-1809499.htm
VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 9, 2013) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Kaminak Gold Corporation (TSX VENTURE:KAM) ("Kaminak" or the "Company") is pleased to announce that the Company has closed the bought deal private placement financing (the "Offering") announced on June 18, 2013. The Company issued 5,437,748 common shares, which qualify as "flow-through" shares for purposes of the Income Tax Act (Canada) (the "Shares") at a price of C$0.95 per Share for aggregate gross proceeds of C$5,165,860.60. The proceeds of the Offering will be used by the Company to conduct exploration work on its Canadian properties.
The Offering was led by RBC Dominion Securities Inc. and included Canaccord Genuity Corp., Cormark Securities Inc., Raymond James Ltd., Beacon Securities Limited and Mackie Research Capital Corporation (collectively the "Underwriters"). In connection with the Offering, the Underwriters received a cash commission on the sale of the Shares, representing 6% of the aggregate gross proceeds raised. The Shares issued under the Offering are subject to a hold period which will expire four months and one day from the date of closing, being November 10, 2013.
On behalf of the Board of Directors of Kaminak
Eira Thomas, President and CEO
Kaminak Gold Corporation
I have to agree. There prices have not been seen since the days of the initial Kaminac discoveries. At this deep discount I am willing to wait for signs of some life in the sector to load on more, as opposed to chasing the knife, as I have already avg'd down quite far on this one. Of the issues with ability to raise Kaminac seems to be one. Now, if the electric infrastructure in the Yukon planning just gets back on track, although I do suppose with enough ounces and blue sky for most majors aging a nice property where they would not even (eventually) have to install large power generation is likely not such a big issue as they (may) have the time to wait while polishing a mine plan and see the Yukon get its grid interconnect and added power source(s) at only the cost of the power to the mine.
Yes a bargain it is, let's not spread the word and buy ourselves
smart money smells a bargin !
that appears to just about replenish the treasury the amount used for this season's exploration drilling, so the initial pre-feasibility costs after the estimate update are not an issue
$KMKGF - $KAM.V - Kaminak Announces Increase Of Previously Announced Bought Deal Private Placement Of Flow-Through Common Shares To $5 Million
http://kaminak.com/investors/news_releases/index.php?&content_id=519
Vancouver, British Columbia – Kaminak Gold Corporation (KAM: TSX-V) (“Kaminak” or the "Company") announced today that it has entered into a private placement financing agreement with a syndicate of underwriters led by RBC Capital Markets (collectively the “Underwriters”) to increase the size of its previously announced private placement offering (the "Offering") under the same terms and conditions as the initial offering. Kaminak will now issue 5,250,000 Flow-Through Common Shares (the “Flow-Through Shares”) at a price of $0.95 per Flow-Through Share on a "bought deal" basis for gross proceeds of $4,987,500. The Company has also granted the Underwriters an option to acquire up to an additional 15% of the Offering, exercisable at the Issue Price at any time up to 48 hours prior to Closing.
The gross proceeds of the Flow-Through Shares will be used by the Company to incur Canadian exploration expenses (“Qualifying Expenditures”) prior to December 31, 2014 on Kaminak’s Canadian properties. The Company will renounce the Qualifying Expenditures to subscribers of the Flow-Through Shares for the fiscal year ended December 31, 2013.
The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. Closing is expected on or about July 9, 2013. All shares issued pursuant to the Offering will be subject to a statutory four-month hold period in accordance with Canadian securities legislation.
In connection with the Offering, the Company has agreed to pay the Underwriters a cash commission on the sale of the Flow-Through Shares, representing 6% of the aggregate gross proceeds raised.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
On behalf of the Board of Directors of Kaminak
“Eira Thomas”
Eira Thomas
President and CEO
Kaminak Gold Corporation
- See more at: http://kaminak.com/investors/news_releases/index.php?&content_id=519#sthash.ItLeivGj.dpuf
You're quick Tommy, you beat me again
tamtam
$KMKGF - $KAM.V - Kaminak Announces $4 Million Bought Deal Private Placement
http://kaminak.com/investors/news_releases/index.php?&content_id=518
Vancouver, British Colombia – Kaminak Gold Corporation (KAM: TSX-V) (“Kaminak” or the "Company") is pleased to announce that it has entered into a private placement financing agreement with a syndicate of underwriters led by RBC Capital Markets (collectively the “Underwriters”) to purchase 4,210,000 flow-through common shares (the “Flow-Through Shares”) at $0.95 per Flow-Through Share of the Company for aggregate gross proceeds of $4.0 million (the “Offering”). The Company has also granted the Underwriters an option to acquire up to an additional 15% of the Offering.
The gross proceeds of the Flow-Through Shares will be used by the Company to incur Canadian exploration expenses (“Qualifying Expenditures”) prior to December 31, 2014 on Kaminak’s Canadian properties. The Company will renounce the Qualifying Expenditures to subscribers of the Flow-Through Shares for the fiscal year ended December 31, 2013.
The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. Closing is expected on or about July 9, 2013. All shares issued pursuant to the Offering will be subject to a statutory four-month hold period in accordance with Canadian securities legislation.
In connection with the Offering, the Company has agreed to pay the Underwriters a cash commission on the sale of the Flow-Through Shares, representing 6% of the aggregate gross proceeds raised.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
On behalf of the Board of Directors of Kaminak
“Eira Thomas”
Eira Thomas
President and CEO
Kaminak Gold Corporation
- See more at: http://kaminak.com/investors/news_releases/index.php?&content_id=518#sthash.l9jAOoda.dpuf
$KMKGF - $KAM.V - Kaminak Drilling Confirms High Potential at Connector Zone and Extends Supremo T2 Zone 750 metres Along Strike to Join with Latte
http://kaminak.com/investors/news_releases/index.php?&content_id=517
... "Vancouver, B.C. – Kaminak Gold Corporation (KAM: TSX-V) today announced results for 37 drill holes from the ongoing 2013 drilling campaign at the Coffee Gold Project, Yukon Territory. Drilling successfully intersected gold mineralization in 32 out of the 37 drill holes and identified new, shallow, predominately oxidized gold-bearing structures within the Supremo-Latte area which is host to the majority of the 3.2Moz NI 43-101 Inferred Mineral Resource Estimate consisting of 64 million tonnes grading at 1.56 grams per tonne gold (“g/t Au”) at a base case cut-off of 0.5g/t Au for Oxide and Transitional material and a 1g/t Au cut-off for Sulphide material. Specifically, drill results are presented from the Connector Zone where the Supremo T2, T3 and T4 zones intersect the Latte East trend, and from the Supremo T1 and T2 zones.
Highlights
Supremo – Latte Connector Zone: Multiple oxide gold-bearing structures intersected within this complex fracture zone marking the intersection point between the Supremo and Latte mineralized structures. Results include: 4.49 grams per tonne gold (g/t Au) over 7.62 metres from 38.10 metres downhole; and 7.85g/t Au over 3.05m from 94.49m. Additional drill testing to better understand the overall potential of this prospective new interpreted dilation zone will be completed in the coming weeks.
T2: Drill testing south along the T2 trend was established as a priority of the 2013 drilling campaign, given its close proximity to T3 and the potential for accessing both T2 and T3 from a single open pit, click link: http://kaminak.com/_resources/T2_Drilling_objective.pdf Drilling successfully intercepted additional, near surface oxide gold mineralization and extended T2 750m to the south (total strike length now exceeding 1.5km), linking it to the Latte trend. T2 is one of at least seven parallel structures labeled T1-T7 identified within the Supremo Zone. Drilling has now successfully extended four of these structures - T2, T3, T4 and T5 - to individual strike lengths in excess of one kilometer, and in addition, drilling has connected all of them to the east-west Latte-Double Double trend.
Supremo-T1-2 Link: Drilling confirmed the presence of a mineralized structure linking the Supremo T1 & 2 trends. Drill results include: 14.88g/t over 4.58m from 39.62m.
Kaminak President and CEO, Eira Thomas, commented: "Kaminak remains focused on delineating those zones within the Supremo-Latte-Double Double area that have the greatest potential to impact future mining economics. The initial results from Connector, located at the intersection of Supremo and Latte are encouraging, providing evidence of a potentially important dilation zone that will require further drill testing in the near term. Kaminak also successfully extended T2 750 metres along strike and has added proximal, near surface, oxide mineralization along the margin of the T3 conceptual pit, a primary goal of our 2013 drilling campaign. This drilling also provides further support that these deposits are all linked as part of a single, large, structurally controlled hydrothermal gold system, collectively comprising more than 10 kilometres of mineralized strike and still open”." ...
Kaminak Adopts Advance Notice Policy and Amends Employee Stock Options
May 31, 2013
Vancouver, B.C. – Kaminak Gold Corporation (KAM:TSX-V) (“Kaminak” or the “Company”) today announced that the board of directors of the Company (the "Board") has approved an Advance Notice Policy effective on May 23, 2013, which will be presented to shareholders of the Company for ratification at its next annual general meeting of shareholders in early 2014. Further, the Company announced that, subject to any required regulatory approval, the company is amending stock option agreements in the aggregate amount of 963,000 which it had entered into with several of its employees and consultants to reduce the exercise price of such options from a weighted average price of $3.25 per share to $1.00 per share. All of the other terms and conditions of the option agreements remain unchanged.
Advance Notice Policy
The Advance Notice Policy includes, among other things, a provision that requires advance notice be given to the Company in circumstances where nominations of persons for election to the Board are made by shareholders of the Company other than pursuant to: (i) a requisition of a meeting made pursuant to the provisions of the Business Corporations Act (British Columbia) (the "Act"); or (ii) a shareholder proposal made pursuant to the provisions of the Act.
Additionally, the Advance Notice Policy sets a deadline by which holders of record of common shares in the capital of the Company must submit director nominations to the Company prior to any annual general or special meeting of shareholders, sets forth the information that a shareholder must include in the notice to the Company, and establishes the form in which the shareholder must submit the notice for that notice to be in proper written form.
In the case of an annual general meeting of shareholders, notice to the Company must be made not less than 30 days and not more than 65 days prior to the date of the annual general meeting. However, in the event that the annual general meeting is to be held on a date that is less than 50 days after the date on which the first public announcement of the date of the annual general meeting was made, notice may be made not later than the close of business on the tenth day following such public announcement.
In the case of a special meeting of shareholders (which is not also an annual general meeting) notice to the Company must be made not later than the close of business on the fifteenth day following the day on which the first public announcement of the date of the special meeting was made.
The full text of the Advance Notice Policy is available under the Company's profile on SEDAR at www.sedar.com.
Amendment to Employee Stock Options
The exercise price reduction is granted to restore the incentive objective of the option agreements, which has been lost as a result of declines in the price of the Company's shares occurring in the recent market downturn.
More specifically, the Board of Directors of Kaminak wishes to communicate that:
The option re-pricing relates to those options granted to employees and consultants only. Options issued to Directors and Officers are not subject to re-pricing
Kaminak employees have demonstrated commitment and diligence to successfully advance the Coffee Gold Project over three consecutive exploration seasons, taking the project from a gold-in-soil anomaly in 2009 to a 3.2 million ounce Inferred Resource by December of 2012
The current Stock Option Plan does not have sufficient capacity for the Board to grant new options to restore the incentive objective of the Plan
Eira Thomas, CEO, commented: “Kaminak depends on the skill and commitment of its employees and recognizes that Stock Options are an important compensation incentive for attracting and retaining a qualified workforce. The prolonged downturn in the exploration sector has negatively impacted Kaminak’s share price, despite a strong track record of exploration success over the past three years. We believe it is in the interest of all shareholders to re-price Employee Stock Options at this time.”
Under the Company’s Stock Option Plan, the Company has the ability to grant up to 10% of the Company’s issued and outstanding share capital in stock options. TSX Venture Exchange policies require that all options granted to Insiders of the Company receive Disinterested Shareholder Approval and have had at least six months lapse since the date the options were originally granted. None of the options being amended were granted to Insiders of the Company and all options have had at least six months lapse from their original grant date.
On behalf of the Board of Directors of Kaminak
"Eira Thomas"
Eira Thomas
President and CEO
Kaminak Gold Corporation
Kaminak Drilling Extends Supremo T2; Multiple Gold-Bearing Structures Identified
Latte North Now Connected to Latte
T2 Results Include: 4.3g/t Au over 13.7m, 5.3g/t over 10.7m, and 7.2g/t over 12.2m
Latte/Latte North Results Include: 8.2g/t Au over 9.1m, 8.3g/t Au over 13.7m, and 9.7g/t Au over 3.0m
May 8th, 2013
Vancouver, B.C. – Kaminak Gold Corporation (KAM: TSX-V) today announced results for 38 drill holes from the ongoing 2013 drilling campaign at the Coffee Gold Project, Yukon Territory. Drilling successfully intersected gold mineralization in 36 out of the 38 drill holes and identified new, shallow, predominately oxidized, gold-bearing structures within the Supremo-Latte-Double Double area, which is host to the majority of the 3.2Moz NI 43-101 compliant Inferred Mineral Resource Estimate consisting of 64 million tonnes grading at 1.56 grams per tonne gold (“g/t Au”) at a base case cut-off of 0.5g/t Au for Oxide and Transitional material and a 1g/t Au cut-off for Sulphide material.
Highlights
Supremo T2 Zone: Multiple oxide gold-bearing structures intersected across-strike. At least six stacked vertical structures spaced 25-100m apart over a total width, combined with T3, of approximately 400m. Results include: 4.29 grams per tonne gold (g/t Au) over 13.72 metres from 30.48 metres downhole; 10.53g/t Au over 4.58m from 9.14m; 5.28g/t Au over 10.67m from 71.63m; 3.76g/t Au over 13.71m from 132.59m. Since discovery in 2011, drilling has defined at least 650 metres of strike at T2 and mineralization remains open to the south and to depth. Gold-in-soil data suggests that T2 has the potential to be in excess of 1km long in strike.
Latte North Zone: Drilling confirmed the northeast trending Latte North Zone splays off the Latte deposit. Latte North currently exceeds 200m in strike length and remains open to the northeast along strike and to depth. Drill results include: 8.32g/t Au over 3.05m from 39.62m and 9.7g/t over 3.05m from 102.11m. Latte main trend intercepts include: 8.22g/t Au over 9.14m from 3.05m and 8.31g/t Au over 13.72m from 57.91m.
The drilling program is ongoing with one reverse circulation (RC) drill turning and a diamond core drill set to start work by the middle of May. Almost 20,000 metres of drilling has been completed to date. Drilling is currently focused on delineating the Supremo T2 structure south along strike. The 2013 Phase 1 exploration program remains on schedule and budget to complete 35,000 metres of drilling for $11M.
Kaminak President and CEO, Eira Thomas, commented: "The 2013 drilling campaign at Coffee remains focused on adding ounces and completing a comprehensive metallurgical testwork program, with the goal of de-risking the project in advance of initiating a preliminary economic analysis in early 2014. To this end, we are on track to evaluate all remaining high priority gold-in-soil and associated geophysical anomalies that potentially represent extensions of known mineralization in the Supremo area, the central focus of our exploration efforts to date. Further, we are specifically targeting those areas that could positively impact mining economics by adding proximal, near surface oxide ounces in the vicinity of the known deposits. The strong correlation between gold-in-soils at surface with underlying mineralization has once again been demonstrated by these latest results. Regionally, Coffee represents a potentially world-class, high-grade, structurally controlled, oxide, hydrothermal gold system; a deposit type which is unique in the Yukon. While significant work remains to evaluate the overall potential at Coffee, work at Supremo alone, represents a near term, potentially transformative economic opportunity for our Company.”
Supremo
Drilling tested south along strike of the Supremo T2 resource block model and also followed up on several intercepts that occurred peripheral to the main T2 trend. The new drill results indicate these peripheral structures extend up- and down-dip with the overall result of the extra drilling being the significant broadening of the T2 mineralized corridor on the 4250N section to a total of 300m across-strike, comprising five discrete vertical to steeply dipping mineralized structures. When the adjacent high-grade T3 trend is also taken into account, the total width across strike further extends to 400m and comprises six stacked structures spaced at 25-100m apart. T2 intercepts on the 4250N section include: 10.53g/t Au over 4.58m from 9.14m and 5.28g/t Au over 10.67m from 71.63m (CFR 427); 13.13g/t Au over 3.05m from 45.72m and 12.71g/t Au over 3.05m from 60.96m (CFR428); 4.29g/t Au over 13.72m from 30.48m and 3.76g/t Au over 13.71m from 132.59m (CFR430); and 5.37g/t Au over 6.10m from 47.24m (CFR432). The T2 mineralized structure is completely to partially oxidized to a depth of at least 150 metres below surface (limited by the depth of drilling completed to date).
Assay results received for the step-out drill fence 100m south along strike (4150N section) indicate three vertical mineralized structures over 100m width, including intercepts: 4.31g/t Au over 7.62m from 73.15m (CFR412); 1.37g/t Au over 25.91m from 144.78m (CFR0414); and 7.93g/t Au over 6.09m from 140.21m (CFR0416).
The 4000N to 4400N region of the Supremo T2 trend will require additional drilling to delineate the geometry of the multiple stacked structures intersected on 4250N. The additional stacked lodes on 4250N may represent a splay off the main T2 trend, which could link across to T1 to the west and T3 to the east. Alternately, the broadening of the T2 trend may occur at the intersection of the north-south T2 trend with a cross-cutting east-northeast to east-west trending structure identified in soil geochemistry and magnetics. Additional drilling will be undertaken along and across strike.
A single fence of infill drilling was completed on 4500N to provide additional confidence in the geological interpretation of the northerly half of the T2 zone. Drilling intersected mineralization as predicted by the geological model including a drill intercept of 7.23g/t Au over 12.19m from 102.11m (CFR0408).
Additional drill assays were also received for Supremo T1, which as previously reported (see Kaminak news release April 15, 2013) represents a new mineralized structural zone of at least 300m strike length. The outstanding drill holes on the 4550N section included: 2.11g/t Au over 10.67m from 85.34m (CFR398). Supremo T1 remains open along strike and at depth.
Latte North and Latte
The Latte North zone comprises a 600 metre long east-northeast trending coincident gold-in-soil and magnetic lineament interpreted to splay from the main Latte trend. Previous drilling (see Kaminak news release April 15, 2013) returned high grade intercepts from two fences of RC drilling spaced 50m apart, including: 28.1 g/t Au over 1.53m, 6.15 g/t Au over 10.67m, 11.75 g/t Au over 3.05m and 6.56 g/t Au over 7.62m.
Latte North mineralization dips moderately to the south and strikes obliquely to the main Latte zone on a northeasterly trend. Recent drilling extended the zone westwards to test the intersection zone with the main Latte trend, which is interpreted to occur at approximately 3100E. Drill intercepts on Latte North include: 8.32g/t Au over 3.05m from 39.62m (CFR417) and 9.7g/t over 3.05m from 102.11m (CFR422). The upper portions of some of the drill holes targeting Latte North also intersected the up-dip portion of the Latte main trend on sections 3075E and 3125E, confirming that high grade Latte mineralization extends to surface. Latte drill highlights include: 8.22g/t Au over 9.14m from 3.05m (CFR426), and 8.31g/t Au over 13.72m from 57.91m (CFR433). The mineralized structure is completely to partially oxidized to a depth of up to 140 metres below surface.
Assay Table
Drill Hole Number From (m) To (m) Width (m)* Weighted grade (g/t Au)
Supremo T2
CFR0404 48.77 53.34 4.57 1.33
CFR0406 6.1 12.19 6.09 2.11
And 39.62 50.29 10.67 1.7
And 82.3 89.92 7.62 1.98
CFR0408 102.11 114.3 12.19 7.23
CFR0410 135.64 147.83 12.19 1.11
And 158.5 167.64 9.14 2.23
CFR0412 5 12.19 3.05 2.57
And 73.15 80.77 7.62 4.31
And 114.3 123.44 9.14 1.06
CFR0414 22.86 27.43 4.57 5.12
And 103.63 106.68 3.05 2.51
And 144.78 170.69 25.91 1.37
CFR0416 18.29 21.34 3.05 5.97
And 140.21 146.3 6.09 7.93
CFR0418 27.43 30.48 3.05 1.76
And 150.88 166.12 15.24 1.13
And 175.26 179.83 4.57 1.6
CFR0419 39.62 41.15 1.53 2.72
CFR0421 4.57 10.67 6.1 1.83
CFR0423 No significant result
CFR0425 6.1 10.67 4.57 1.95
And 59.44 70.1 10.66 2.77
And 103.63 114.3 10.67 2.17
And 160.02 190.5 30.48 1.10
CFR0427 9.14 13.72 4.58 10.53
And 47.24 48.77 1.53 8.11
And 62.48 65.53 3.05 1.15
And 71.63 82.3 10.67 5.28
And 109.73 129.54 19.81 0.91
CFR0428 45.72 48.77 3.05 13.13
And 60.96 64.01 3.05 12.71
And 80.77 86.87 6.10 1.90
And 91.44 96.01 4.57 1.55
And 124.97 132.59 7.62 1.14
CFR0430 18.29 19.81 1.52 4.83
And 30.48 44.2 13.72 4.29
And 111.25 126.49 15.24 1.42
And 132.59 146.3 13.71 3.76
CFR0432 47.24 53.34 6.10 5.37
And 161.54 164.59 3.05 2.47
CFR0434 70.1 71.63 1.53 1.95
CFR0436 54.86 56.39 1.53 1.75
And 146.3 147.83 1.53 2.14
CFR0437 144.78 149.35 4.57 0.74
Supremo T1
CFR0398 85.34 96.01 10.67 2.11
CFR0399 12.19 19.81 7.62 1.55
CFR0402 114.3 126.49 12.19 1.27
And 135.64 140.21 4.57 0.98
Latte North
CFR0403 22.86 25.91 3.05 1.41
And 88.39 89.92 1.53 2.77
CFR0405 80.77 83.82 3.05 1.01
CFR0407 0 6.10 6.1 1.54
And 15.24 18.29 3.05 3.76
CFR0409 28.96 30.48 1.52 1.22
And 13.72 16.76 3.04 0.78
CFR0411 56.39 59.44 3.05 1.59
CFR0413 83.82 86.87 3.05 2.41
CFR0415 No significant result
CFR0417 39.62 42.67 3.05 8.32
CFR0420 70.1 74.68 4.58 3.04
CFR0422 102.11 105.16 3.05 9.7
CFR0424 18.29 19.81 1.52 6.52
CFR0426 132.59 140.21 7.62 1.08
CFR0435 182.88 188.98 6.10 2.58
Latte (Main)
CFR0422 25.91 28.96 3.05 4.96
CFR0424 18.29 19.81 1.52 6.52
CFR0426 3.05 12.19 9.14 8.22
And 41.15 48.77 7.62 4.22
And 53.34 56.39 3.05 1.42
CFR0429 19.81 28.96 9.15 3.58
CFR0431 6.10 10.67 4.57 3.26
And 59.44 62.48 3.04 8.05
CFR0433 9.14 16.76 7.62 1.04
And 35.05 44.20 9.15 1.62
And 57.91 71.63 13.72 8.31
CFR0435 4.57 15.24 10.67 1.36
And 38.10 41.15 3.05 2.58
*True width estimated at approximately 2/3 down-hole length.
All maps, sections and assay sheets are currently available on the Kaminak website, www.kaminak.com.
QA / QC
Kaminak's disclosure of a technical or scientific nature in this press release has been reviewed and approved by Rory Kutluoglu, P.Geo., Exploration Manager of Kaminak Gold Corporation, who serves as a Qualified Person under the definition of National Instrument 43-101. Quality assurance and quality control procedures include the systematic insertion of blanks and standards into the drill sample string. Samples are placed in sealed bags and shipped directly to the ALS Minerals preparatory laboratory in Whitehorse prior to gold fire assay.
On behalf of the Board of Directors of Kaminak
"Eira Thomas"
Eira Thomas
President and CEO
Kaminak Gold Corporation
Kaminak Appoints New Corporate Secretary April 29, 2013 - Vancouver, B.C. - Kaminak Gold Corporation (KAM:TSX-V) (“Kaminak” or the “Company”) today announced the appointment of Ms. Brenda Nowak as Corporate Secretary, effective immediately. As Corporate Secretary, Ms. Nowak will be responsible for legal and regulatory compliance activities and assisting with equity financings, joint ventures and general corporate/commercial work. Ms. Nowak has over 16 years of work experience in the securities legal industry, including working with International Northair Mines. Prior to these positions, Brenda was a paralegal with DuMoulin Black LLP and held positions with Nexus Venture Capital Lawyers and Aber Diamond Corporation.
This appointment comes with the departure of Ms. Blair Lockhart as Corporate Secretary. The Company wishes to thank Ms. Lockhart for her significant contributions to Kaminak and wishes her every success in her future endeavors.
On behalf of the Board of Directors of Kaminak
"Eira Thomas"
Eira Thomas
President and CEO
Kaminak Gold Corporation
Kaminak’s Coffee Gold Project Yields New Drill Discoveries
and Adds High-Grade Zone at Latte North
Results Include: 3.18 g/t Au over 22.86m; 3.38 g/t Au over 10.67m; 6.15 g/t over 10.67m
http://kaminak.com/investors/news_releases/index.php?&content_id=503
Tamtam
Thanks Tommy, you beat me on this one
Tamtam
$KMKGF - $KAM.V - Kaminak Appoints Director of Lands and Environment and Engages JDS Energy and Mining Inc.
http://kaminak.com/investors/news_releases/index.php?&content_id=489
... "“Kaminak is looking to the future and is positioning itself with the requisite skill sets to advance the Coffee Gold Project responsibly, and as expeditiously as possible. To this end, it gives me great pleasure to welcome Allison Rippin Armstrong to the Kaminak development team, where her strong credentials and experience in community outreach, environmental stewardship and project permitting will be put to good use as we work to evaluate the potential for developing a gold mine at Coffee. In addition, we have formalized our relationship with JDS Energy and Mines, who have extensive northern operating experience and were directly involved in the evaluation and construction of the Minto mine in the Yukon, approximately 125 km southeast of Coffee. JDS engineers will be working closely with Kaminak’s technical team conducting internal scoping studies and advising Kaminak on its 2013 drilling campaign to ensure we are targeting areas that have the highest potential impact on a future mining scenario at Coffee,” stated Eira Thomas, President & CEO of Kaminak." ...
KMKGF and ATADF have been stiffening lately.
probably wise buys here.
Kaminak Exhibits and Presents at PDAC 2013
Kaminak Gold Corporation (KAM: TSX-V) will be exhibiting and presenting at the upcoming 2013 Prospectors and Developers Association of Canada (PDAC) International Convention, Tradeshow and Investors Exchange from March 3rd – 6th in Toronto, Ontario, Canada.
If you are planning to attend the conference, Kaminak cordially invites you to visit the company’s Investor Exchange booth #3045 and attend the corporate presentation given by Kaminak’s new President & CEO, Eira Thomas. In addition, drill core from the company’s Coffee Gold Project will be on display during Session B of Core Shack at booth #5029. Management will be available at both booths to provide updates and answer any questions. Further details are below.
Kaminak Investor Exchange Exhibitor Booth #3045*
* Kaminak will be exhibiting with the Aurora Mineral Resource Group
Sunday, March 3rd – 5th from 10:00 am – 5:30 pm
Wednesday, March 6th from 9:00 am – 12:00pm
Corporate Presentation
Tuesday, March 5th at 2pm
Presenter: Eira Thomas, President & CEO of Kaminak
Location: Corporate Presentation Forum for Investors Room 801B
Core Shack Session B
Location: Booth #5029
Tuesday, March 5 from 9:00am – 5:00pm
Wednesday, March 6th from 9:00am – 12:00pm
Tamtam
That is quite the early start.
Good sign the insiders putting up a million !
Kaminak Commences Fully-Funded $11M Exploration Program at Coffee
February 26, 2013
Vancouver, British Columbia – Kaminak Gold Corporation (KAM: TSX-V) today announced the commencement of a fully funded, $11 million Phase One 2013 exploration program on the Coffee Gold Project, Yukon Territory, where a NI 43-101 Inferred Mineral Resource Estimate of 3.2 million ounces grading 1.56 grams per tonne gold (g/t Au) was announced on December 13, 2012. Field crews have now been mobilized to Coffee and drilling is expected to begin in the coming days.
Director and incoming President and CEO, Eira Thomas commented: “In less than three years, Kaminak has defined 3+million ounces of shallow, high grade gold at Coffee; an extensive, structurally controlled gold system which remains open in all directions. Our work program in 2013 is designed to expand upon and define preliminary economic parameters for core resource areas at Supremo, Latte and Double Double, while at the same time continuing with an aggressive drilling campaign to identify additional resources over the broader, 100% owned Coffee district, where less than 20% of the prospective geology has been systematically tested to date.” Ms Thomas further commented, “The majority of the inferred resources identified to date are near surface oxide or transitional facies, with initial metallurgical testwork proving positive for high gold recoveries in oxide material using standard leaching techniques. In addition to the ambitious drilling and resource campaigns that are planned for 2013, Kaminak intends to initiate early stage engineering studies and conduct detailed metallurgical testwork in support of a preliminary economic assessment (“PEA”)”.
Program Objectives:
Expansion of the Inferred Resource
Kaminak’s strategy will continue to focus on targeting shallow, high grade oxide and transitional mineralization, which comprises approximately 90% of the recently announced NI 43-101, 3.2 million ounce inferred resource. To date, all deposits show good lateral continuity across more than 8 km of total strike length, and remain open in all directions.
Metallurgical Testwork
Initial gold heap leach column tests undertaken on select samples of oxide facies material from Supremo, Latte and Double Double in 2012 were highly encouraging and resulted in 90% recoveries over 80 days, including 83% recoveries over 15 days. A comprehensive metallurgical program has been initiated for 2013 that will expand upon this work to test a broader range of samples collected from across all mineralized zones and to depth within the oxide, transitional and sulphide profiles.
Initiate Preliminary Economic Assessment (PEA)
Exploration drilling completed from Q1 through to Q3 of 2013 will be incorporated into an updated Mineral Resource Estimate and then applied to a Preliminary Economic Assessment. In addition to the updated resource estimate, metallurgical and geotechnical data will be collected during the year to contribute to mining and processing optimization studies.
Drill Testing of Priority Gold-In-Soil Anomalies
Soil sampling continues to be the primary exploration tool for identifying mineralized structures at Coffee and has contributed to a drilling success rate of close to 90%. Several kilometers of priority gold-in-soil anomalies remain to be tested, and in Phase I, drilling will be focused within the 2km by 2km core resource area testing anomalies associated with Supremo T1, T6 & T8, Latte North, Double Double South, Arabica and Mocha.
Regional Soil Sampling
Less than 15% of the 150,000 acre Coffee property has been systematically sampled for gold in soils. Kaminak is planning to collect a further 10,000 soil samples from across the property in 2013 with the goal of improving regional coverage and identifying additional priority targets for drill testing.
Closing of Private Placement
The company also announced the closing of a non-brokered, private placement offering (“Offering”) of 746,250 common shares at a price of $1.34 per common share, for total gross proceeds of $999,975 CDN. The proceeds of the offering will be used for general working capital and no finders’ fee was associated with the financing. All of the common shares sold in association with this financing were purchased by insiders of the Company upon closing; the Company now has $16,000,000 in cash.
Kaminak's disclosure of a technical or scientific nature in this press release has been reviewed and approved by Garth D. Kirkham, P.Geo., Kaminak Technical Advisor, who serves as a Qualified Person under the definition of National Instrument 43-101.
On behalf of the Board of Directors of Kaminak
"Eira Thomas"
Eira Thomas
Director of Kaminak Gold Corporation
Quite the major restructuring Thx for posting TT
KAMINAK TO APPOINT EIRA THOMAS AS PRESIDENT & CEO
Richard Hall And Bradley Blacketor Join The Board Of Directors
February 6, 2013
Vancouver, British Columbia – Kaminak Gold Corporation (KAM: TSX-V) today announced a significant strengthening of its leadership team. As part of the Company’s transition from exploration towards resource development, Eira Thomas will join the Board of Directors immediately and on March 1st, 2013 will succeed Rob Carpenter as President and Chief Executive Officer. Also joining the Board of Directors are Richard J. (Ritch) Hall and Bradley J. (Brad) Blacketor. In addition, Garth Kirkham has also stepped down from the Board of Directors. Messrs Carpenter and Kirkham have been appointed to the Company’s Advisory Board where they will continue to add value and be actively involved with the Company as the Coffee Gold Project is advanced. The Kaminak board would like to thank Rob Carpenter and Garth Kirkham for their contributions to Kaminak over the years.
The Company is pleased to welcome Eira Thomas in her new role as President and CEO. Ms. Thomas is an internationally recognized executive in the Canadian mining industry with a strong background in exploration, development and finance. In addition, Ms. Thomas has been widely acclaimed for her efforts to promote sustainability and social responsibility in northern Canadian communities.
Together with Ms. Thomas, the addition of Ritch Hall and Brad Blacketor to the Kaminak board has increased the Company’s strength in the areas of mine development, finance, social responsibility and corporate governance. Mr. Hall will immediately assume the role as “Lead Director”. Mr. Hall is a respected mining executive with a track record of success in the field of mine development and construction. Mr. Blacketor’s background in finance and accounting for several successful mining companies adds to the Company’s financial capacity at both an operational and board level. Mr. Blacketor will assume the additional role as Chair of Kaminak’s Audit Committee.
“I would like to welcome Eira Thomas, Ritch Hall and Brad Blacketor to the Kaminak team. In addition, I would like to personally thank Rob Carpenter for his commitment to Kaminak and the Coffee Project,” stated John Robins, Chairman of the Kaminak Board. “Rob’s passion and leadership have helped guide Kaminak towards becoming oneof Canada’s most respected exploration companies. With the track record and skill-sets that Eira, Ritch and Brad bring to Kaminak, we are now in a very strong position to capitalize on the outstanding work of Rob and his team as we continue to advance the Coffee Gold Project towards development."
Rob Carpenter stated: "There is nothing more fulfilling than the creation of shareholder value especially when it’s done through the discovery of a +3 million ounce inferred gold resource. I am extremely pleased with our company’s accomplishments and proud of the team we have assembled. My decision to leave Kaminak has been a very difficult one for me, but I am confident that under the leadership of my friend and colleague, Eira Thomas, our Company is in good hands. I would like to thank our shareholders, the Kaminak team and our Board of Directors for their support of our work to date.”
Biographies
Eira Thomas is a Canadian geologist whose career in the mining industry spans more than 20 years. She served as a geologist with Aber Resources Ltd. (now Harry Winston Diamond Corporation) from 1992 to 1997, leading the field exploration team that discovered the Diavik Diamond Project pipes in the Northwest Territories in 1994 and 1995. She was promoted to Vice-President Exploration for Aber in 1997, a post she held for two years, and served on the Board of Directors from 1998 to 2006. Diavik became Canada’s second diamond mine when it went into production in 2003.
Ms. Thomas is currently a director of a number of other public companies and organizations, including Suncor Energy Inc., Dundee Precious Metals Inc., Strongbow Exploration Inc., Lucara Diamond Corp., the Prospectors and Developers Association of Canada (PDAC), the University of Toronto (U of T) Alumni Association, the Lassonde Advisory Board of the U of T, and she is a member of the U of T President’s Internal Advisory Council. Previously, Ms. Thomas held the positions of President of Navigator Exploration Corporation, CEO and Director of Stornoway Ventures Limited, and President, CEO and Director of Stornoway Diamond Corporation.
In 2004, Ms. Thomas was honoured as one of "Canada's Top 40 under 40" by the Caldwell Partners and the Report on Business Magazine. Three years later (May 2007), she was awarded The William Harvey Gross Award, bestowed annually by the Mineral Deposits Division of the Geological Association of Canada, to a geoscientist less than 40 years of age who has made a significant contribution to the field of economic geology in a Canadian context. Later that year (November 2007), Ms. Thomas was selected as one of “Top 100 Canada’s Most Powerful Women”. In March 2008, she was one of only four Canadians that year to be named to the “Young Global Leaders”, by the World Economic Forum. In May 2009, Ms. Thomas was a recipient of the CIM’s (Canadian Institute of Mining and Metallurgy) Past Presidents’ Memorial Medal, awarded to a member under 45 who, by his/her accomplishments, has set an outstanding example to young members of the Institute and to young men/women contemplating a career in the minerals industry. In 2010, Ms. Thomas received the Minerva for BC Women Natural Resources Award. Ms. Thomas graduated from the University of Toronto with a Bachelor of Science in Geology in 1990.
Richard J. Hall brings over 35 years of mining, exploration and development experience and presently serves as a director of IAMGOLD. Previously, he served as President and Chief Executive Officer of Northgate Minerals Corporation, when Northgate was acquired by AuRico Gold, and as Chairman of Grayd Resource Corporation, when Grayd was acquired by Agnico Eagle Mines Limited. He also served as a director and Chairman of the Special Committee of Creston Moly Corp. during its acquisition by Mercator Minerals Ltd. From 1999 to 2008, he served as President and CEO of Metallica Resources Inc., where he was involved in all aspects of the company’s development, including the financing, construction and commissioning of the Cerro San Pedro gold-silver mine in Mexico. In August 2008, Metallica was part of a $1.6 billion merger with Peak Gold Ltd. and New Gold Inc. to form what is now New Gold Inc. Previous to his tenure at Metallica, Mr. Hall held senior management positions with Dayton Mining Corporation and Pegasus Gold Corporation. Mr. Hall holds a Bachelor and a Masters Degree in Geology and an MBA from Eastern Washington University. He has also completed an Executive Development Program at the University of Minnesota.
Bradley J. Blacketor has over 30 years of management and financial experience and currently serves as Chief Financial Officer of Gold Resource Corporation. Previously, he served as Chief Financial Officer of Bear Creek Mining Corporation, and as Vice President, Chief Financial Officer and Secretary for Metallica Resources Inc. for 11 years. Prior to Metallica and Bear Creek, Mr. Blacketor served as Chief Financial Officer of MinCorp Ltd., and held senior management positions with Pincock, Allen & Holt, Inc. and Touche Ross & Co. Mr. Blacketor is a Certified Public Accountant in the State of Colorado, holding an M.B.A. from Colorado State University and a B.S. Degree in Business Administration from Indiana University.
Non-Brokered Private Placement
The Board of Directors have approved a private placement in the Company through an offering of up to 746,265 shares at a price of $1.34 per share for gross proceeds of up to $1,000,000. The proceeds from the offering will be used for general working capital and no finders’ fee will be associated with this offering. All of the common shares sold in association with this financing will be purchased by insiders of the Company. Closing of the financing is subject to receipt of all regulatory approvals, including the approval of the TSX Venture Exchange. All securities issued in the private placement will be subject to a four month and one day statutory hold period.
Stock Options Granted
The Board of Directors has granted an aggregate of 2,515,000 stock options under the Company’s Stock Option Plan to insiders of the Company, subject to regulatory approval. The options are exercisable at a price of $1.34 per common share, subject to a four month hold period expiring on February 6th, 2018.
On behalf of the Board of Directors of Kaminak
Thanks for posting Tommy
Tamtam
$KMKGF - $KAM.V - Kaminak Files NI 43-101 Technical Report for Coffee Gold Project
http://kaminak.com/investors/news_releases/index.php?&content_id=482
Yep, they are well presented.
I like the overlay on topo. Really helps.
With a little imagination one can see how faulting "ripped" the line of gold deposit east of Latte, smearing it uphill (and fragmenting it) to the top of Supremo, leaving that somewhat upset and also see how Double Double is left fully upset (on its side, compared to the original layering by oxide/sulfide and by grade as shown in Latte).
I couldn't find anything for Kona although it was included in the estimate. I don't recall yet seeing their analysis of the results from the larger-scale sampling work. I am anxious to see how things came out on the Sugar area (way east, maybe halfway to the eastern claim boundary from the Latte/Supremo/DoubleDouble area).
Nice block models to be seen at the Company it's website
http://www.kaminak.com/projects/resources/
Tamtam
Thanks Tommy, finally we see the reason of the recent rise.
Tamtam
$KMKGF - KAM.V - Kaminak Reports Maiden Inferred Mineral Resource Estimate of 3,236,000 ounces of Gold at the Coffee Project, Yukon
http://www.kaminak.com/investors/news_releases/index.php?&content_id=478
ive been watching this awhile - I thought I missed a big run , is it consolidating because we got frozen tundra up there , and drilling is at a standstill for now >? we are at a buck .22 will we see some tax selling now >? thats my guess - will wait till february for lowest price and stake a claim then , or is 43-101 due early nxt year >? ho ho ho - this is gonna be BANK SOMEDAY
Totaly agree gharma
Tamtam
That is probably the best part of the NR, Tamtam, I do have to concur, even though there are quite a few nice intercepts in the data released.
Did you notice how large the area that has now seen shallow infill drilling has grown ? I am thinking that initial Ni 43-101 will be sweet even though it will cover mostly only blocks in the first 200 meters from surface.
If this wide by long of a deposition area is a unified event, or at least an event sequence penetrating the area, to my mind it implies increased likelihood of deep feeder structures yet to be located along with lots of associated deeper mineralization (I do not recall any of the KAM prospect not being mentioned as open to depth).
I love this These observations provide further evidence for a single, widespread and continuous gold mineralizing event that begins at surface.”
Tamtam
$KMKGF - +11% - changes trend to uptrend on daily chart
Kaminak Drilling Successfully Connects Supremo T3 and T4 Gold Zones
September 11, 2012
Vancouver, B.C. – Kaminak Gold Corporation (KAM: TSX-V) today announced assay results from 52 drill holes located within the Supremo gold zones (T3, T4 and T5). The purpose of this shallow drilling was to extend the T4 and T5 zones towards the nearby T3 zone.
http://kaminak.com/investors/news_releases/index.php?&content_id=447
News: not sure how I missed this NR last week
http://kaminak.com/investors/news_releases/index.php?content_id=443
but perhaps it (and the trend toward reversal in the juniors) explains some of the brakes appearing on the downleg we have been suffering.
(Note: table not copied below . . . true widths estimated at 2/3 of downhole lengths reported)
From the depth of the drills reported and the discussion, it seems the working hypothesis that the T zones are the surface expression of a deeper joined structure is still an open question.
Got a starters position here today. Will get more but have to sell something first.
I have nibbled to add some on the bigger dips. Things will change as results from the summer start coming in through end of year, not to mention if they get a decent initial NI 43-101 together per plan.
Kaminak is indeed undervalued but will be better priced at the end of the year IMO
Tamtam
Not much activity on the board with only 10 bookmarks. I am accumulating KMKGF and look for a much higher price as Gold heats up. Looks under valued to me.
Followers
|
9
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
203
|
Created
|
09/01/10
|
Type
|
Free
|
Moderators |
KAM.V - TSX
KMKGF - US - OTC
______________________________________________________________________________________
Exploring the Canadian Frontier
Kaminak Gold Corporation is an opportunity focused, prospect generator whose technical strength and entrepreneurial drive is complemented by a proven, successful business model designed to create shareholder value. The company has an extensive portfolio of discovery-stage projects that offer world-class exploration potential and present exposure to strategic commodities with an emphasis on gold.
Kaminak's core asset is the 100% owned Coffee Gold Project located in the emerging White Gold District of the Yukon Territory, Canada. In 2010, Kaminak successfully executed the first ever drill program on the 150,000 acre Coffee property and drilled 8 separate and closely-spaced gold discoveries within a 15km by 5km area. The first phase of the 2011 program is budgeted at $15 million and the objectives of the program are threefold: expand the 8 significant gold zones discovered in 2010, work towards a National Instrument 43-101 compliant inferred resource on priority zones, and make new additional gold discoveries across the vast property by drill testing high-quality soil anomalies. The company's ultimate goal is to demonstrate that a camp scale gold district is present at Coffee.
2012 News
January 11 - http://finance.yahoo.com/news/Kaminak-Extends-High-Grade-ccn-3590220921.html?x=0
2011 News
December 7 -http://finance.yahoo.com/news/Kaminak-Options-Michigan-ccn-224843372.html?x=0
November 30 - http://finance.yahoo.com/news/Kaminak-Expands-Near-Surface-ccn-3626828463.html?x=0
2013 Market Holidays | Date |
---|---|
New Year's Day | January 1, 2013 |
Martin Luther King Jr. Day | January 21, 2013 |
President's Day | February 18, 2013 |
Good Friday | March 29, 2013 |
Memorial Day | May 27, 2013 |
Independence Day | July 4, 2013 |
Labor Day | September 2, 2013 |
Thanksgiving Day | November 28, 2013 |
Christmas | December 25, 2013 |
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |