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Cry Lake (Nizi Creek) Gold-Silver Project, BC
- Kaminak Gold Corporation owns 100% of the 6,800 acres Cry Lake project, which is located 80 kilometers northeast of Dease Lake, British Columbia.
- The Cry Lake project is optioned to Solomon Resources Ltd. (SRB: TSX-V)
- Under the terms of the agreement (see Kaminak Press Release September 1, 2009), Solomon has the right to earn a 51% project interest by incurring exploration expenditures totalling $2 million and making staged share payments totalling 400,000 Units to Kaminak by December 31, 2011.
- A diamond drill program for September 2009 is being proposed by Solomon, who will solely fund and conduct the program.
- Six main zones of high-grade gold-silver vein-hosted mineralization have been outlined to date over a northwesterly elongate area 2 kilometers long by 1 kilometer wide.
- The Discovery Vein / Surprise Vein is the most advanced prospect on the property with historical chip samples yielding 27.09 g/t Au plus 1220.6 g/t Ag over 2.0m and 15.09 g/t Au plus 1073.2 g/t Ag over 3.5m.
- Minor drilling on this zone in the mid-1990’s confirmed surface assays and yielded 5.68 g/t Au over 13.77m and 3.54 g/t Au plus 27.21 g/t Ag over 6.1m. Other notable historical assays from the property include 11.38 g/t Au (Gully Zone) and 6.0 g/t Au (Zinc Lake).
- The high grade nature of the known occurrences combined with the lack of any recent exploration make the Cry Lake volcanic package highly prospective for gold-silver mineralization.
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