Kent receives New Zealand prospecting permit
2009-08-20 12:23 ET - News Release
Mr. Graeme O'Neill reports
KENT ACQUIRES LYELL GOLD PROPERTY
Kent Exploration Inc., through its wholly owned New Zealand subsidiary, Kent Exploration NZ Ltd., has received from Crown Minerals New Zealand, a prospecting permit, 51590, in close proximity to the company's Reefton gold project, on the west coast of the South Island, New Zealand.
The 472.2-square-kilometre Lyell gold prospect, located approximately 40 kilometres northwest of Reefton, is considered to be the northern extension of the prolific Reefton goldfield, where historic production is reported to be in excess of 10 million ounces of placer gold and two million ounces of lode gold. Lyell also has potential for intrusion-related gold mineralization.
The Lyell area contains a number of historic mines including the Lyell and the Alpine gold mines, that had a reported historic production of 96,500 ounces of lode gold at a historic grade of 16 grams per tonne (g/t). These two mines are within ground permitted to Auzex Gold, which is surrounded by Kent's Lyell permit.
Other historic mines in the Lyell area include the Strathconor in the Rough and Tumble Creek gold zone, in the northern area of the property, which reportedly contained a one-metre-wide quartz vein with historic reported assays up to 12 g/t gold and 342 g/t silver (10 ounces per ton), and the Red Queen, which reportedly produced approximately 3,100 ounces at an average grade of 44 g/t. Other historic mines which were established on other gold-bearing occurrences in the area were the South Pacific, Mokinui, Southern Light, Lady Agnes and Guiding Star. The Bald Hill molybdenum prospect and the Ngakawau scheelite prospect were discovered in the Lyell area in the 1970s.
Kent plans to conduct a geological mapping and sampling program on the Lyell gold prospect during late 2009.
Nancy Reardon, MSc, PGeol, a qualified person as defined by National Instrument NI-43-101, is the company's senior geological consultant for the company's New Zealand and Australian exploration activities.
