Jul 22, 2015
Vancouver, BC -- July 22, 2015: Kiska Metals Corporation ("Kiska" or the "Company") is pleased to announce its current and upcoming exploration activities for the 2015 season, and the signing of two new exploration alliances. "Kiska continues to execute the Prospect Generator business model by having top-tier mining companies drill and explore our projects this season, such as Kliyul and Copper Joe," stated Kiska's President Grant Ewing. "In these challenging market conditions, Kiska stands out by incorporating innovative exploration alliances and new targeting technologies that aim to improve the odds of discovery, optimize exploration expenditures, and generate quality exploration opportunities to feed the industry's diminishing pipeline, all while continuing to reduce the company's burn rate."
• Partner-funded drilling and geophysical surveys at the Kliyul porphyry project in north-central BC by Teck Resources Limited ("Teck") has commenced.
• Geophysical survey and infill mapping completed at the Copper Joe porphyry project in south-central Alaska, funded by First Quantum Minerals.
• A recently signed Alliance with BW Mining to generate Neural Network targets in the prolific Abitibi gold belt in Ontario and Quebec, and the Quesnel porphyry belt in BC.
• A recently signed Alliance with Fathom Geophysics to utilize and develop a new and proprietary geochemical technique to target porphyry systems under cover and at depth.
• Assessing potential partners on Kiska's Chuchi copper-gold porphyry project, a road-accessible property with proven porphyry mineralization and exploration upside in north-central BC.
• Recently completed geological mapping and property-wide soil sampling at Kiska's Midlothian gold project in Ontario to define drill targets.
• Property evaluations of early- to advanced-stage projects to potentially add new projects to the portfolio.
Kliyul is a copper-gold porphyry project located 67 kilometres southeast of the past-producing Kemess Mine in north-central British Columbia and lies adjacent to the Kemess Mine access road and power line. The Company owns a 100% interest in the 6,537 hectare property subject to a 1.5% NSR. Exploration is being funded by Teck as part of an earn-in agreement whereby Teck can earn a 51% interest in the Property by incurring cumulative aggregate expenditures of $5.5 million on or before January 31, 2018, and up to a 65% interest by incurring additional expenditures of $6.5 million ($12 million total) on or before January 31, 2021. To date, Teck has spent approximately $765,000 in exploration and is currently planning to drill 1300 metres in 2 to 3 drillholes to test the main Kliyul Zone and to conduct approximately 20 line-kilometres of Induced Polarization geophysics over other geological and geochemical targets on the Property. The program is now underway.
Copper Joe is a copper-gold-molybdenum porphyry project located in the Alaska Range 175 kilometers northwest of Anchorage. Exploration on the property is being funded by First Quantum Minerals as part of an earn-in agreement. First Quantum can earn an initial 51% interest in the Copper Joe Project by funding expenditures of US$5,000,000 by December 31, 2017, and 80% upon a production decision, with Kiska retaining a 20% carried interest. First Quantum recently completed a geological mapping program and a Magnetotelluric geophysical survey on the property and has spent approximately $826,000 prior to this work. The results of this work are currently being evaluated to determine the potential of a follow-up drill program.
Innovative Exploration Alliances:
Kiska has entered into an exclusive Alliance agreement with BW Mining to initiate Neural Network targeting studies in the Abitibi gold belt of Ontario and Quebec, and the southern Quesnel porphyry belt in British Columbia. BW Mining is a pioneer in the application of Neural Networks for targeting base and precious metal deposits. Neural Networks provide a cost-effective exploration advantage by integrating numerous exploration datasets (i.e. geology, geochemistry, geophysics, satellite), producing unbiased targets based on the signatures of known deposits, significantly leveraging public and private geoscience data and dollars, quickly and efficiently reducing the exploration search space, and targeting in areas with challenging overburden cover. Kiska is currently seeking partners to participate in the Neural Network targeting.
Kiska has entered into an alliance agreement with Fathom Geophysics for the exclusive rights to a proprietary method for evaluating and targeting porphyry systems in 3D based on trace element abundances and zonation in surface rock samples and/or drill core. This computational method utilizes the concentration and spatial distribution of key trace elements in the porphyry environment. This method has the potential to target and evaluate porphyry systems efficiently and with less drilling, therefore reducing the discovery timeline and cost. Kiska is currently seeking partners who wish to test this method on known systems, and to apply the method in an Exploration Alliance.
Negotiations Underway Regarding Partnership: Chuchi
Kiska has conducted and is currently planning additional tours with potential partners on the Chuchi Property. The Chuchi Property hosts a 12 km2 propylitic alteration zone that is centred on a drill-proven copper-gold porphyry system in a highly prospective region of the Quesnel porphyry belt in north-central British Columbia. The road-accessible property occurs in gentle topography just 32 km from the Mt. Milligan copper-gold mine. Previous drilling in the early 1990's returned significant copper-gold mineralization (the "BP Zone") that is open in multiple directions.
Advancing Projects: Midlothian
Kiska recently completed a geological mapping program and a property-wide MMI soil geochemical survey at the Midlothian Project, Ontario, in order to advance the project and identify drill targets. The Midlothian Project is a road-accessible lode gold project located in Ontario's Abitibi Greenstone Belt and occurs 25 km west of the Young-Davidson gold mine. The property is transected by an under-explored segment of the Cadillac-Larder Lake Fault Zone, host to the prolific gold camps in the region.
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.
About Kiska Metals Corporation
Kiska Metals Corporation is a prospect generator company with a high quality portfolio of gold and copper projects throughout North America. Two of Kiska's projects are held under option agreements with major mining companies. Kiska has several other gold and copper projects available for option-joint venture as well as extensive databases and a royalty portfolio.
On behalf of Kiska Metals Corporation
Grant Ewing, President & CEO
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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.