Nov 04, 2015
Vancouver, BC - November 4, 2015: Kiska Metals Corporation ("Kiska" or the "Company") is pleased to report that drilling by its partner, Teck Resources Limited ("Teck"), at its Kliyul porphyry copper-gold project in north-central B.C., has returned significant widths of porphyry mineralization, and has extended mineralization along trend, to depth, and in new geophysical domains that greatly expand the potential of the Kliyul Zone.
Teck completed four diamond drillholes for a total of 1,908 metres. "We are very encouraged by these first four drillholes by Teck at the Kliyul Zone," stated Dr. Mike Roberts, V.P. Exploration for Kiska, "because they show copper and gold mineralization over long intervals with higher-grade sub-zones, and most significantly, that the Kliyul Zone is a robust porphyry system that remains open in multiple directions."
All holes intersected long intervals of copper-gold mineralization associated with disseminated and vein hosted chalcopyrite, and these are mainly hosted by andesitic volcanic rocks with magnetite +/- biotite alteration. Later stages of alteration, including sodic-calcic and phyllic alteration, overprint and occur outboard of these zones. Higher grade sub-zones, particularly in hole KLI-15-034, are hosted by magnetite breccias, where chalcopyrite and local bornite occur as cement and within quartz veins. In contrast, a higher grade interval was intercepted in hole KLI-15-035 starting at 399.5 metres and is associated with bornite-chalcopyrite mineralization as disseminations and within quartz veins proximal to a syn-mineral feldspar porphyry dyke. Mineralization in this zone is open both up- and down-dip. The style and location of this mineralization has three important implications: 1) the overburden-covered area north of the Valley Fault is very prospective and is largely untested; 2) not all copper-gold mineralization at Kliyul is associated with magnetite breccias and magnetic high anomalies, indicating the potential footprint of the Kliyul Zone is greatly expanded; 3) the proximity to syn-mineral intrusive rocks may drive higher grade copper-gold mineralization, and yet the centre of this intrusive body has yet to be discovered.
Teck can earn a 51% interest in the Property from Kiska by incurring a cumulative aggregate of $5.5 million in exploration expenditures on the Property on or before January 31, 2018 (the "First Option"). Teck may elect to acquire an additional 14% interest in the Property, for a total interest of 65%, by incurring an additional $6.5 million in exploration expenditures (for a total of $12.0 million) on the Property on or before the third anniversary of the exercise of Teck's First Option.
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 drilling program, core logging, core sampling and QA/QC were conducted and supervised by Teck personnel. Core samples were on average approximately 2 metres long and were split by a diamond saw. Half-core samples were assayed by Bureau Veritas in Vancouver, B.C. for gold by Fire Assay of a 30 gram charge with AAS finish; samples with gold greater than 10 ppm were analyzed by Fire Assay and gravimetric method. Cu and other elements were determined by 4-acid digestion with ICP-ES finish. QA/QC included the insertion and monitoring of standards and blanks into the sample stream, and the analysis of duplicate samples at random intervals. On average at least one QA/QC sample or duplicate was analyzed for every four regular samples.
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 an extensive 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.