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Victoria, British Columbia - TheNewswire - February 6, 2024 - Kermode Resources Ltd. (TSXV:KLM) ("Kermode" or the "Company") reports a review of exploration results from 2023. In 2024, Kermode plans to continue our ongoing exploration strategy. The results reported here cover four different projects called Khrysos, Silver Bell, Eastgate BC, and Vigh Graphite, which are part of ongoing business development activities by Kermode.
A map of the projects is provided online at this link:
“SILVER BELL”
The following assays were previously reported by Kermode on November 28, 2023. The samples were taken from one area of interest known as the JGR Showing as part of the 2023 exploration program with Aurum Vena Resources Corp. at Silver Bell.
Sample # | Easting | Northing | Gold | Silver |
996412 | 399177 | 5562273 | 3.9 |
|
996413 | 399162 | 5562271 | 4.9 | 612 |
996420 | 399177 | 5562273 | 16.4 |
|
996421 | 399177 | 5562273 | 3.2 |
|
Additional work performed included clearing the existing access to the JGR showing and collecting samples of historical dump material for crushing and concentrating. A video of the sample site and sample concentrate test work is provided in this link, “Silver Bell mine visit, old portal mine exploration! Old exploration adit visit! $KLM” published June 29, 2023: https://www.youtube.com/watch?v=ScPFApPmSvU
Sample ID | Description |
996412 | Grab sample of quartz vein material found outside of an old exploration portal (10-20m long) testing an 8m wide East-West trending sub-vertical quartz vein. Areas of heavy limonite stain, with rarer localized malachite and azurite staining. Area grab of stronger limonite, malachite stained material at drift face. |
996413 | Select grab of limonite-stained material from same quartz vein. Large galena / sphalerite bleb. |
996420 | Adit area comparative sample. Select grab of very galena-rich material. |
996421 | Adit area comparative sample. Select grab of heavily azurite malachite stained material. |
The following assays were previously reported by Kermode on December 4, 2023. The results include the first assays for gravity concentrate samples from the Silver Bell project at the JGR Showing.
The results are shown in the table below:
Sample ID | Discharge | Gold (PPM Au) | Silver (PPM Ag) |
996430 | Concentrate | 66.4 | 2,950 |
996431 | Middling | 9.9 | 1,040 |
The samples were collected by ATV from loose material at the mine dump site. The original sample size was 18 kilograms of material, which was crushed using a jaw crusher, pulverized by a small grinding mill, and concentrated using a gold shaker table. The concentrate and middling samples were collected and assayed.
A video of the sample concentrate test work is provided in this link, “Crushing it! Crushing gold silver ore!” published September 15, 2023: https://www.youtube.com/watch?v=PvSl1uP4i7k
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Picture of sample material
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Picture of jaw crusher
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Picture of shaker table in action
“KHRYSOS”
The following assays were previously reported by Kermode on December 1, 2023.
Sample ID | Sample Description | Au | Ag |
996414 | 1.1m channel sample | 4.0 | 168 |
996415 | 70cm channel sample | 1.5 | 260 |
996416 | 40cm channel sample | 0.4 | 34 |
996417 | 80 cm channel sample | 0.2 | 21 |
996426 | Choice grab of pyrite rich quartz in old pit (pit 1) | 0.3 | 15 |
996427 | Grab sample of galena rich quartz (pit 1) | 1.1 | 387 |
996428 | Area grab of pit 2 | 0.6 | 108 |
996429 | Area grab of pit 3 | 1.5 | 172 |
Assays for select samples of the 2023 work program are listed above. A video of the site visit titled, “Khrysos Gold property visit, June 2023. Channel sample cutting! $KLM” was published July 10, 2023:
https://www.youtube.com/watch?v=XhDjGswZj-s
A sample of 5 kg taken from ore drums at the Kami Main Showing was crushed using a jaw crusher, pulverized by a small grinding mill, and concentrated using a gold shaker table. Samples of the concentrates, middlings, and tails were collected and assayed as shown in the table below:
Sample ID | Discharge | Gold (PPM Au) | Silver (PPM Ag) |
997709 | Concentrate | 379.0 | 5140 |
997710 | Middling | 74.5 | 3750 |
997711 | Tailings | 12.2 | 91.6 |
Kermode CEO Peter Bell comments, “I am grateful that Kermode was able to obtain a multi-year, area-based exploration permit for the Khrysos project that allows for three sites with trenches or test pits and three sites with drill pads. In addition, Kermode plans to remove garbage left by previous operators, including steel ore drums.”
“EASTGATE BC”
The following assays were previously reported by Kermode on December 14, 2023. The samples were taken from one area of interest known as the Pasayten showing as part of the 2023 exploration program with Aurum Vena Resources Corp. at Eastgate BC.
Sample # | Easting | Northing | Sample Type | Gold (PPM Au) |
996422 | 675775 | 5447431 | Grab sample/old pit | 0.1 |
996423 | 674783 | 5447535 | Grab sample/old pit | 0 |
996424 | 675783 | 5447499 | Grab sample/old trench | 43.7 |
996425 | 675710 | 5447477 | Grab sample/old trench | 0.3 |
The initial 2023 reconnaissance work program consisted of locating and sampling the Pasayten mineral occurrence. Very limited historical information is known about the showing, with no recent exploration. Assays for select samples of the 2023 work program are listed above.
Additional work performed included exploration work on the recently acquired extension ground of the initial claim package. A video of the initial exploration work was posted at the following link, “Eastgate property site visit! Gold Silver exploration near Eastgate BC” published July 20, 2023: https://www.youtube.com/watch?v=nBTxvJkH9Ok
“VIGH GRAPHITE”
The following assays were previously reported by Kermode on December 8, 2023.
Sample ID | Sample type | Sulphur (% S) | Iron (% Fe) | Graphitic Carbon (% Gr) |
23-20-01 | Area grab, Crushed and Screened | 1.1 | 6.3 | 3.6 |
23-20-02 | Choice grab, calcite-rich material | 0.0 | 1.3 | 9.6 |
23-20-03 | Choice grab, visible graphitic material | 0.0 | 1.7 | 13.6 |
The following assays were previously reported by Kermode on January 15, 2024.
ID | Target Area | Sample Description | Sample Weight (KG) | Sulphur | Iron | Total Carbon | Graphitic Carbon |
24-01 | RUTH | Composite grab sample from area with hematite-stained graphitic sediments | 0.6 | 0.9 | 3.2 | 0.7 | 0.5 |
24-02 | RUTH | Composite grab sample from area with hematite-stained graphitic sediments | 0.9 | 1.1 | 3.1 | 0.5 | 0.4 |
24-03 | DEEP BLUE SKY | Composite grab sample from area with hematite-stained graphitic sediments | 1.1 | 1.3 | 3.2 | 0.5 | 0.5 |
24-04 | DEEP BLUE SKY | Select grab of quartz with trace sulphides. | 0.9 | 0.0 | 0.9 | 0.0 | 0.0 |
24-05 | DEEP BLUE SKY | Select grab sample of graphite-rich metasediments crosscut by quartz veins. | 0.8 | 7.0 | 2.9 | 13.2 | 13.1 |
24-06 | DEEP BLUE SKY | Select grab of quartz with trace sulphides. | 0.7 | 0.4 | 1.0 | 2.2 | 2.0 |
24-07 | DEEP BLUE SKY | Select grab of quartz with trace sulphides. | 1.1 | 0.0 | 1.8 | 0.4 | 0.3 |
24-08 | RUTH | Composite grab sample from area with hematite-stained graphitic sediments | 0.6 | 0.4 | 4.2 | 1.7 | 1.5 |
24-09 | DEEP BLUE SKY | Select grab sample of graphite-rich sediments. | 0.5 | 0.1 | 3.4 | 21.2 | 21.3 |
Click Image To View Full Size
Photograph of Graphitic Carbon (Gr) in Sample 24-09
Property Option Deal Terms
KHRYSOS & SILVER BELL:
To earn 100% ownership of the project, Kermode must make one payment of common shares and assign a Sales Participation Right as described below.
1,500,000 common shares of Kermode on or before May 26, 2027. In addition the payment of 1,500,000 common shares made on May 26, 2022.
Sales Participation Right is set at 10% ten percent for a period of 10 ten years, where the right is calculated as a percentage of the gross proceeds from any transaction whereby Kermode sells any interest in the project.
There are no Net Smelter Return royalty payments, nor work commitments.
EASTGATE BC:
To earn 100% ownership of the project, Kermode must assign the vendors a Net Smelter Return royalty and a Sales Participation Right as described below.
The Net Smelter Return royalty is set at 5% five percent with a buy-down of $5M five million dollars to reduce the royalty to zero.
The Sales Participation Right is set at 25% twenty five percent for a period of 10 ten years, where the right is calculated as a percentage of the gross proceeds from any transaction whereby Kermode sells any interest in the project.
There are no exploration spending commitments, share payments, nor cash payments.
VIGH GRAPHITE:
To earn 100% ownership of the project, Kermode must assign the vendors a Net Smelter Return royalty and a Sales Participation Right as described below.
1,500,000 common shares of Kermode on or before December 8, 2026. In addition to the payment of 1,500,000 common shares made on December 8, 2023.
The Net Smelter Return royalty is set at 5% five percent with the following buy-down conditions. Three percent 3% can be eliminated for three million dollars $3,000,000, reducing the royalty to 2%.
The Sales Participation Right is set at 10% ten percent for a period of 10 ten years, where the right is calculated as a percentage of the gross proceeds from any transaction whereby Kermode sells any interest in the project.
There are no exploration spending commitments, nor cash payments.
Qualified Person
The technical information in this news release has been reviewed and approved by Mr. Robert Carrington, Professional Geologist and Professional Engineering Geologist, a Qualified Person as defined in Canadian NI 43-101 responsible for the scientific and technical information contained herein under National Instrument 43-101 standards. Mr. Carrington is not independent as he has optioned the Tonya project in Nevada to Kermode and conducts exploration work under a shares-for-services basis.
QA/QC Statement
The most recent work conducted on the subject property by the Company utilized commercial laboratories for all geochemical analyses and was conducted using industry-standard chain of custody procedures with all samples. Due to the preliminary nature of the field geochemistry programs, no blind analytical blanks and standards were utilized by the Company; and only the internal procedures employed by the commercial laboratories were utilized for QA/QC protocols. The Qualified Person is satisfied that these procedures and protocols are sufficient for current status of the subject property.
About Kermode
Kermode is a junior mining company hunting for exploration opportunities around the world.
On Behalf of the Board of Directors,
KERMODE RESOURCES LTD
"Peter Bell"
President/CEO
For further information please contact:
Tel: 1-250-588-6939
Email: peterbellmining@gmail.com
Website: https://linktr.ee/kermoderesources
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains statements that constitute "forward-looking statements" within the meaning of applicable Canadian and United States securities legislation (collectively herein referred to as "forward-looking information"). Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause Kermode actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.
Forward-looking statements in this document include but not limited to results, analyses and interpretations of exploration programs. The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date.
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