Kingsman Resources Inc.: Drilling to Commence on Luxor Moly Property
09.10.2010 | Marketwire
VANCOUVER, 10/08/10 - Kingsman Resources Inc. (TSX VENTURE: KSM) is pleased to announce the start of a diamond drill program on their Luxor Molybdenum Project, located 27 kilometers northeast of Barriere, British Columbia. The diamond drill program should begin on or about October 15th. R.J. Beaupre Drilling Ltd. will carry out the drilling.An initial program of approximately 1000 metres of NQ core is planned with possible expansion to 2000 metres. This drill program will test recently exposed molybdenum bearing altered granitic outcrops discovered during trail construction. Molybdenite was found to occur as fine disseminated grains within the intrusive rocks and importantly within quartz veins with pyrite. Coarse aggregates of molybdenite are seen both as selvages to and within quartz veins. Selected samples of quartz vein material returned up to 2.59% Mo. These exposures occur within a cohesive soil geochemical anomaly measuring approximately 1 kilometre long by 450 metres wide.
In November, 2007, Kingsman undertook a small diamond drill program on the Luxor property. Four short holes were completed. Significant results included 3 metres of 925ppm Mo (.0925% Mo), 6 metres of 420ppm (0.042% Mo) in LX07-0 1.3 metres of 676ppm Mo(0.0676% Mo) and 6 metres of 301ppm Mo (0.0301% Mo) in LX07-02. These holes were drilled approximately 600 meters north of the current planned program.
Recently Kingsman commissioned professional prospectors to investigate the area in and around the newly discovered mineralized road outcrops. Molybdenite-bearing outcrops were discovered over an area of approximately 1.3 kilometres by 0.9 kilometres. 25 rocks samples were collected. Molybdenite was found to occur in quartz veinlets, quartz stockworks, fractures, rosettes and disseminations within altered granitic hosts.
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Mo Mo Mo Mo
Tag # ppm % Tag # ppm %
-------------------------------- --------------------------------------
-------------------------------- --------------------------------------
WP5 212.00 WBM10 346.60
WP7 LUXOR 1011.00 0.101 WBM11 822.20 0.081
WP13 LUXOR 610.20 0.059 WBM16 1833.00 0.185
WP36 LUXOR 9.34 WBM17 1036.00 0.103
WP37 43.54 WBM18 464.10
WP38 LUXOR 8.92 WBMK1 greater than 0.210
2000
WP45 113.40 LXSK1 A 1463.00 0.148
WBM1 117.60 LXSK1 B greater than 0.221
2000
WBM2 greater 0.258 LXSK2 927.00 0.091
than 2000
WBM3 1259.00 0.128 LXSK3 A greater than 0.278
2000
WBM5 618.10 0.063 LXKS3 B 1053.00 0.109
WBM6 307.50 LXSK4 827.00 0.083
WBM8 200.10
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Significant values including 0.278% Mo and 0.258% Mo were obtained from selected samples. Prospecting results confirm and enhance the molybdenite occurrences discovered during trail construction. Exploration evidence at Luxor now points to a mineralizing system that is 2.2km east-west by 1.5km north-south. This is supported by rock geochemistry, biogeochemistry, stream sediment geochemistry, and drilling.
Bernhardt Augsten, P.Geo., a qualified person, has reviewed the technical information in this news release and will be managing the proposed work program.
About Kingsman Resources Inc.
Kingsman Resources Inc. is an exploration and development company with a focus on gold, silver, molybdenum, tellurium and copper. Kingsman Resources trades on the TSX Venture Exchange under the symbol 'KSM'. For further information on Kingsman Resources Inc, visit the corporate website at www.kingsmanresources.com.
On Behalf of the Board of Directors KINGSMAN RESOURCES INC.
Robert McLaughlin
Director
'Neither the 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.'
Contacts:
Kingsman Resources Inc.
Ted Drummond
(604) 926-4062
www.kingsmanresources.com