Dec 08, 2009
Kiska Intersects 471.6 metres of 0.93 g/t Gold-Equivalent at Raintree target, Whistler Project, Alaska
Vancouver, BC - December 8, 2009: Kiska Metals Corporation, TSX-V:KSK, ("Kiska") is pleased to report results from the final three drill holes from the 2009 Whistler drilling program in Alaska, including a 471.6 metre intersection at the Raintree target that averaged 0.38 g/t gold, 4.7 g/t silver, 0.09% copper, 0.15% lead, and 0.35% zinc (0.93 g/t gold-equivalent). The hole, WH09-002, ends in mineralization and this intersection represents the entire length of the hole. Individual sub-intervals include 128.7 metres averaging 0.56 g/t gold, 6.8 g/t silver, 0.16% copper, 0.14% lead and 0.32% zinc (1.25 g/t gold-equivalent) from 59.0 to 187.7 metres and 97.2 metres averaging 0.61 g/t gold, 6.9 g/t silver, 0.16% copper, 0.24% lead and 0.59% zinc (1.52 g/t gold-equivalent) from 382.0 to 479.2 metres. Management believes the tenor of gold mineralization, the presence of a strong overprint of late stage lead and zinc bearing quartz-carbonate veins and the breadth of copper and gold mineralization intersected indicates that drilling to date at the Raintree Target has only tested the periphery of a separate porphyry copper-gold-silver system that lies approximately 1.5 kilometres east of Kiska's multi-million ounce Whistler gold-copper deposit.
The Raintree discovery lies within the Whistler Corridor, an 18 by 9 km glacial till covered area host to numerous porphyry gold-copper targets defined largely on the basis of anomalous geophysical (Induced Polarization (IP) and magnetics), geochemical signatures and sparsely distributed mineralized exposures. The initial Raintree drill discovery was made in 2008 with a 160 metre intersection of 0.59 g/t gold, 6.02g/t silver, 0.10% copper, 0.20% lead and 0.46% zinc. WH09-002 was collared 110 metres northeast of the 2008 hole and was drilled to the west to "scissor" the 2008 hole and test the strongest portion of the IP chargeability anomaly at depth. The upper 128.7 metre intersection appears continuous with the mineralization intersected in the 2008 drill hole whereas the deeper intersections may represent new mineralization that remains open to expansion.
"We are extremely encouraged by the results of the Raintree drill hole," stated Jason Weber, President and CEO of Kiska. "Considering that this deep hole ended in mineralization, we feel there is very good potential for a significant porphyry deposit at Raintree and the high lead and zinc values suggests drilling has tested only the margins of such a deposit. We anticipate that integration of the 3D IP survey data, currently being processed, will assist greatly in vectoring our next round of drilling toward the core of the Raintree system as well as other targets within the corridor. The fact that two of these five initial holes in 2009 yielded significant intercepts in areas away from the Whistler resource is testament to the potential of the greater Whistler project."
The remaining two holes of the fall 2009 program were completed at each of the Digger and the Lightning targets, both within the Whistler corridor. The Lightning drill hole was targeted 700 meters southwest of the Whistler Deposit to test below late-stage quartz-carbonate-copper-lead-zinc veins in surface outcrop. Such veins commonly occur peripheral to the higher grade core of porphyry mineralized systems. Anomalous gold, silver, copper, lead and zinc values were returned from a 50 metre interval corresponding to the surface mineralization. As with other Whistler Corridor targets, IP data will aid in directing the next phase of exploration at the Lightning. No results of significance were returned from the hole at the Digger target, a weak magnetics/geochemical target at the southern margin of the Whistler corridor.
The continuation of the Whistler drill program is anticipated to begin in early spring 2010. A further 15 holes are planned to test regional targets on the Whistler project. These holes will be targeted on the basis of integration of newly-gathered IP data with geological mapping, geochemistry and previously collected airborne magnetic data. The 2009-early 2010 work program is being conducted under an agreement with Kennecott Exploration Inc. to identify and drill test multiple targets property-wide. Kennecott has the right to purchase a 51% interest in the project by refunding 200% of the exploration expenditures incurred by Kiska and its predecessors (an estimated $25 million payment) and by advancing the project to a positive prefeasibility study. Kennecott can obtain an additional 9% interest by advancing the project to a production decision and Kiska's interest will be carried through this stage. Management anticipates that verification, Quality Assurance/Quality Control and processing of data collected in the 2009 IP survey will be completed in January 2010. Detailed targeting of the remaining 5500 meters of drilling will follow immediately.
About Kiska Metals Corp
Kiska Metals Corporation is a mineral exploration company with renowned technical expertise and sizable exploration portfolio including the multi-million ounce Whistler gold deposit, numerous exciting early stage exploration opportunities around the world and partnerships with some of the world's largest and most successful gold and base metal producers. Kiska resulted from the merger of Rimfire Minerals Corporation and Geoinformatics Exploration in August 2009.
Qualified Person Statement
The content of this release has been reviewed and approved by Mark Baknes P. Geo., Vice President of Exploration of Kiska Metals Corporation. Mr. Baknes is a Qualified Person as defined under the terms of National Instrument 43-101. All drill core samples were analysed at Alaska Assay Laboratories in Fairbanks, Alaska.
On behalf of Kiska Metals Corporation
Jason Weber, P.Geo., President & CEO
CAUTIONARY STATEMENT: No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This News Release includes certain "forward-looking statements". Other than statements of historical fact, all statements included in this release, including, without limitation, statements regarding future plans and objectives of Kiska Metals Corporation, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Kiska's expectations are the risks detailed herein and from time to time in the filings made by Kiska Metals Corporation with securities regulators. Those filings can be found on the Internet at http://www.sec.gov/edgar/searchedgar/webusers.htm and http://www.sedar.com.