Kingsman Resources Inc.: Drilling to Commence on Luxor Moly Property
October 8, 2010 - Kingsman Resources Inc. is pleased to announce the start of a diamond drill program on their Luxor Molybdenum Project, located 27 kilometers northeast of Barriere, British Columbia. The diamond drill program should begin on or about October 15th. R.J. Beaupre Drilling Ltd. will carry out the drilling.
An initial program of approximately 1000 metres of NQ core is planned with possible expansion to 2000 metres. This drill program will test recently exposed molybdenum bearing altered granitic outcrops discovered during trail construction. Molybdenite was found to occur as fine disseminated grains within the intrusive rocks and importantly within quartz veins with pyrite. Coarse aggregates of molybdenite are seen both as selvages to and within quartz veins. Selected samples of quartz vein material returned up to 2.59% Mo. These exposures occur within a cohesive soil geochemical anomaly measuring approximately 1 kilometre long by 450 metres wide.
In November, 2007, Kingsman undertook a small diamond drill program on the Luxor property. Four short holes were completed. Significant results included 3 metres of 925ppm Mo (.0925% Mo), 6 metres of 420ppm (0.042% Mo) in LX07-0 1.3 metres of 676ppm Mo(0.0676% Mo) and 6 metres of 301ppm Mo (0.0301% Mo) in LX07-02. These holes were drilled approximately 600 meters north of the current planned program.
Recently Kingsman commissioned professional prospectors to investigate the area in and around the newly discovered mineralized road outcrops. Molybdenite-bearing outcrops were discovered over an area of approximately 1.3 kilometres by 0.9 kilometres. 25 rocks samples were collected. Molybdenite was found to occur in quartz veinlets, quartz stockworks, fractures, rosettes and disseminations within altered granitic hosts.
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On July 30th, 2010 Ted Drummond, COO and Robert McLaughlin, President and CEO of Kingsman Resources Inc. (TSX VENTURE: KSM) ("Kingsman") welcomed Mayor Mike Fennell of Barriere B.C., Bob Hayward of the Star Journal news paper, Ellsworth Dickson, Editor of Resource World Magazine, CBC Editor Jackie Sharkey and Bruce Madu, Senior Regional Geologist from Mines, Kamloops Region, for a review of progress at the Luxor Moly Property located north of the town of Barriere B.C. and approximately 80 kilometres north of Kamloops, in south-central B.C.
BC Minister of Energy and Mines Bruce Madu visiting LUXOR Moly Property
http://www.empr.gov.bc.ca/Mining/Geoscience/Staff/Pages/brucemadu.aspx
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200 LUXOR MOLY PROPERTY PHOTOS --- http://www.kingsmanresources.com/s/LuxPhotos.asp?numCols=3&page=1
Geological support for the day was by Bernie Augsten P. Geo, Dr. Robert Thompson P. Eng, and Dr. Renee Hetherington, Environment.
Prior visits were made by Boris Karpoff, P. Eng, former mine geologist and general mine superintendent for the Sullivan Group, and Ed Kimura former Placer Dome Exploration Manager and Senior Geologist at the Endako Moly Mine for 16 years.
Kingsman Resources Inc. has granted a total of 1,330,000 incentive stock options. Subject to the approval of the TSX Venture Exchange, each stock option is exercisable into one common share of the company at a price of ten cents per share for a period of five years. Of the options being granted, a total of 720,000 are being granted to directors and officers of the company.
Bernhardt Augsten, P.Geo., a qualified person, has reviewed the technical information in this news release.
About Kingsman Resources Inc.
Kingsman Resources Inc. is an exploration and development company with a focus on gold, silver, molybdenum, tellurium and copper. Kingsman Resources trades on the TSX Venture Exchange under the symbol "KSM".
On Behalf of the Board of Directors
KINGSMAN RESOURCES INC.
Robert McLaughlin, Director
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release.
Contacts: Kingsman Resources Inc. Ted Drummond (604) 926-4062 www.kingsmanresources.com
SOURCE: Kingsman Resources Inc.
http://www.kingsmanresources.com
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