Nov 19, 2014
Kiska Enters into Option Agreement to Acquire a 100% Interest in Prospective Copper-Gold Project in BC
Vancouver, BC -- November 19, 2014: Kiska Metals Corporation ("Kiska" or the "Company") is pleased to announce that it has given notice to Chlormet Technologies, Inc. ("Chlormet") that it wishes to enter into a definitive option agreement (the "Option Agreement") pursuant to which Kiska would be granted the right to earn 100% of the interest of Chlormet in the Chuchi Property (the "Project") located in British Columbia. The terms of the option agreement were announced by Kiska in a press release dated September 8th, 2014.
"The Chuchi Property was identified by Kiska's technical team during a terrane-wide review of porphyry prospects in BC as a large porphyry system, near a producing mine, with significant historical drill results and geological room to expand, that remarkably did not see any substantial exploration during the last exploration boom." stated Kiska's President, Grant Ewing, "We believe that the project has attributes that will attract a partnership with a major mining company, and that it adds significant value to our portfolio of projects as a leading prospect generator company".
The road-accessible Chuchi Property hosts a copper-gold porphyry system in a prospective region of the Quesnel porphyry belt in north-central British Columbia, and is located 32 km to the northwest of the newly-opened Mt. Milligan copper-gold mine. The core of the property overlies a 12 km2 alteration zone centered on a cluster of porphyritic monzonite stocks hosted by volcanic and sedimentary rocks. Drilling campaigns from 1989 to 1991 targeted coincident Cu-Au soil geochemical anomalies and Induced Polarization high anomalies within this alteration zone, for a total of 13,030 metres from 79 drillholes. To view figures of Chuchi click on the following link. http://http://www.kiskametals.com/i/maps/Chuchi-NR-Maps-Nov-2014.pdf Drilling returned significant intervals of copper and gold mineralization over a 1.5 km by 1.5 km area referred to as the BP Zone, including:
• 100.0 metres grading 0.27% Cu and 0.37 g/t Au (from 38.0 m downhole), including 16.0 metres grading 0.71% Cu and 1.32 g/t Au (from 82.0 m downhole), in hole 89-07
• 194.0 metres grading 0.21% Cu and 0.21 g/t Au (from 32.0 m downhole), including 70.0 metres grading 0.31% Cu and 0.34 g/t Au (from 156.0 m downhole), in hole 90-27
The true widths of all of the copper and gold intercepts in the drillholes reported in this press release are unknown at this time due to a lack of geometrical information on the mineralized zones.
The best drill results on the property occur at the northeast edge of the BP Zone where strong potassic alteration is associated with copper-gold mineralization in drill holes that are mineralized from top to bottom, show grade continuity between holes, and terminate in mineralization. Drill results in this area include:
• 154.0 metres grading 0.22% Cu and 0.20 g/t Au (from 50.0 m downhole), including 42.0 metres grading 0.44% Cu and 0.41 g/t Au (from 62.0 m downhole), in hole 91-40
• 207.8 m grading 0.22% Cu and 0.12 g/t Au (from 54.3 m downhole), in hole 90-37
This northeastern zone remains open to the north, south, east, and to depth towards the west. This zone occurs within a 1.5 km long by 0.75 km wide moderate IP chargeability high anomaly that was overlooked by the majority of the historical drilling, and overburden cover has concealed mineralization in this area from surface exploration techniques. This area is a priority target for further drilling. In addition to the BP Zone, the Chuchi property contains several other geological, geochemical and geophysical anomalies that may represent separate porphyry centres and warrant further exploration.
All exploration data on the property, including diamond drilling, geophysical surveys and geochemical surveys, is considered as "historical data" and was compiled from exploration reports and press releases that are believed to be accurate. This historical data has not been independently verified by Kiska, and in some instances may be unverifiable due to a lack of original data, archive sample material or original assay certificates.
The technical content of this document was reviewed and approved by Michael Roberts, Ph.D., P.Geo., Vice President of Exploration for Kiska Metals Corporation, a Qualified Person as defined by National Instrument 43-101. The Chuchi Property is an exploration property and does not contain any mineral resource estimates as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects. The potential quantities and grades disclosed herein relating to targets on the Chuchi Property are conceptual in nature and there has been insufficient exploration to define a mineral resource for these targets. It is uncertain if further exploration will result in these targets being delineated as a mineral resource.
About Kiska Metals Corporation
Kiska Metals Corporation is a prospect generator company with a diverse portfolio of gold and copper projects throughout North America and Australia. One of the more advanced assets is the Whistler property, Alaska, a district-scale gold-copper porphyry project that contains a large NI 43-101 gold/copper resource and has excellent exploration potential. Kiska has numerous gold and copper projects available for option-joint venture as well as an extensive royalty portfolio.
On behalf of Kiska Metals Corporation
Grant Ewing, President and CEO
Neither TSX Venture Exchange nor its Regulation Services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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.sedar.com and http://www.sec.gov.