Kingsmen Resources: Soledad Mine Area Multi Element Sample Analysis Yields Significant Results
- Positive aspects: Completion of detailed multi-element analyses on rock samples from the Soledad mine area in Mexico. High-grade silver mineralization confirmed in the old workings. Potential for significant mineralization in other locales. Similarities with the Santa Barbara mine, a successful underground mining complex. Silver equivalent values are notably higher than silver grades.
- Positive financial data: Silver equivalent values are significantly higher, reflecting the potential value of the mineralization. The presence of high-grade silver mineralization in the old workings indicates promising mineral wealth. The project's systematic exploration approach is yielding positive results.
- Business development: Kingsmen's exploration approach is proving successful in identifying distinct areas of mineralization, suggesting significant potential for further exploration. The project's similarities with the Santa Barbara mine, a successful mining complex, indicate a positive trajectory for Kingsmen Resources
- Geographical advantage: The Las Coloradas project's location near Hidalgo de Parral, Chihuahua, Mexico, presents a strategic advantage for the company's exploration activities. The proximity to established mining infrastructure enhances the project's viability.
- - No drilling exploration of the mineralized structures, leaving potential mineralization depth unexplored. This could lead to missed opportunities for discovering additional valuable resources.
- - Lack of information on metallurgical test data for recoveries may pose uncertainties regarding the economic feasibility of extracting metals. This could affect future mining operations and profitability.
- - The absence of information on the specific timeline for further exploration or drilling campaigns may raise concerns about the project's development pace and potential delays in realizing mineralization.
- - The reliance on spot metal prices for the silver equivalent calculation may introduce volatility in the valuation of the project, as metal prices are subject to fluctuations in the market.
- - details on the QA/QC program's results and methodologies may raise questions about the accuracy and reliability of the reported mineralization data. Transparency in quality control processes is essential for investor confidence.
Vancouver, British Columbia--(Newsfile Corp. - April 4, 2024) - Kingsmen Resources Ltd. (TSXV: KNG) (OTCQB: KNGRF) ("Kingsmen" or the "Company") is pleased to report the recent completion of multi-element analyses on all rock samples collected in and around the old Soledad mine area (1.0 square mile) of the total Las Coloradas project. The Las Coloradas project is located 30km from Hidalgo de Parral, Chihuahua, Mexico. Portions of the Soledad structure were mined by ASARCO (American Smelting and Refining Company), the U.S. based subsidiary of Grupo Mexico in the period 1944 to 1952.
The silver values and silver equivalent values for the Soledad Mine area targets and subsidiary structures are presented in Table 1 and Figure 1. Silver equivalent values are overall significantly higher than the silver grades and reflect the silver-lead-zinc gold-copper composition of the mineralization. The Soledad mine area is presently one of four areas recognizable for significant mineralization.
Kingsmen's sampling of residual mineralization in the old workings (where accessible) on the NW-trending Soledad structure/vein system, and subsidiary structures, confirmed the presence of high-grade silver mineralization which likely continues at depth below the water table. Sample widths ranged from 0.5 to 1.3 meters. The Soledad structure/vein system, as currently recognized, is approximately 1.7 km long. Blind extensions to all the mineralized structures, as well as new structures, are likely at depth. The underground ASARCO workings (1943 to 1952) are located on the southern end of the Soledad vein system (Figure 1; Soledad and Rosario shafts). The workings extend in excess of 250 meters along strike and to a vertical depth of approximately 125 meters on four levels. The workings did not extend below the water table.
The mineralization is shallow, high-grade, silver-gold-lead-zinc-copper quartz-calcite veins hosted by all rock types in structures that cut all rock types. The sizes of the old workings suggest the mined mineralization may have been up to several meters in width. The mineralized structures have not been explored by drilling. There are strong similarities/parallels with the mineralization in the underground Santa Barbara mine where vein systems vary from 3 to 6.5 km along strike and the vertical extension of the shoots have a vertical extension of up to 900 meters. The Santa Barbara mine is an underground mining complex belonging to Grupo Mexico, Mexico's largest mining company.
Scott Emerson, President commented: As we continue with our systematic and disciplined exploration approach on this newly consolidated district, the results from the Soledad Mine area are confirming that distinct areas of mineralization are recognizable indicating potential for significant mineralization in the other locales as we identify new and existing target areas for our drill campaign.
Figure 1
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Table 1
| Sample | Width (m) | Au ppm | Ag ppm | AgEq ppm | Cu ppm | Pb ppm | Zn ppm |
| PRSLC-0094 | 0.8 | 0.027 | 81.7 | 99.6 | 21 | 11720 | 2570 |
| PRSLC-0095 | 1.3 | 0.397 | 97.4 | 133.3 | 122 | 6860 | 4480 |
| PRSLC-0096 | 0.9 | 0.316 | 144.1 | 226 | 150 | 26550 | 11540 |
| PRSLC-0097 | 1 | 0.494 | 174.9 | 232.5 | 92 | 23320 | 2480 |
| PRSLC-0098 | 0.7 | 0.218 | 186.1 | 200 | 103 | 14020 | 1570 |
| PRSLC-0099 | 1 | 0.015 | 17.6 | 27.1 | 45 | 895 | 3740 |
| PRSLC-0100 | 0.9 | 0.31 | 69 | 133.2 | 123 | 15710 | 8280 |
| PRSLC-0101 | 0.6 | 0.478 | 152.7 | 203.3 | 198 | 15040 | 5100 |
| PRSLC-0102 | 0.7 | 0.174 | 31.7 | 57.6 | 158 | 1340 | 6150 |
| PRSLC-0103 | 0.9 | 0.109 | 35.7 | 49 | 84 | 2360 | 2680 |
| PRSLC-0104 | 0.5 | 0.23 | 42.3 | 63.5 | 116 | 2750 | 2570 |
| PRSLC-0105 | 0.8 | 0.006 | 2.9 | 18.9 | 34 | 63 | 6130 |
| PRSLC-0106 | 0.9 | 0.09 | 22.8 | 36.4 | 45 | 726 | 3850 |
| PRSLC-0107 | 0.5 | 0.447 | 484.5 | 529.7 | 159 | 23710 | 22120 |
| PRSLC-0108 | 1.3 | 0.027 | 7.1 | 16 | 54 | 372 | 2770 |
| PRSLC-0109 | 0.9 | 0.012 | 5.6 | 9.4 | 30 | 624 | 949 |
| PRSLC-0110 | 0.6 | 0.627 | 54.7 | 193 | 56 | 43500 | 4280 |
| PRSLC-0111 | 0.9 | 0.083 | 34.4 | 58.9 | 47 | 6380 | 4400 |
| PRSLC-0113 | 0.5 | 1.288 | 571.4 | 919.9 | 322 | 162710 | 6510 |
| PRSLC-0114 | 0.9 | 0.647 | 177.8 | 301.7 | 54 | 47480 | 4190 |
| PRSLC-0115 | 1 | 0.021 | 3.7 | 13 | 72 | 452 | 2730 |
| PRSLC-0116 | 0.5 | 3.81 | 246 | 739.9 | 86 | 119010 | 7560 |
| PRSLC-0117 | 0.9 | 0.316 | 134.8 | 163.3 | 42 | 12030 | 2610 |
| PRSLC-0118 | 0.7 | 0.242 | 278.2 | 278.2 | 140 | 13630 | 2370 |
| PRSLC-0119 | 0.5 | 0.27 | 155 | 194.3 | 526 | 15220 | 5230 |
| PRSLC-0120 | 1.2 | 0.007 | 8.6 | 10.1 | 40 | 603 | 398 |
| PRSLC-0121 | 1.3 | 0.007 | 9.9 | 10.8 | 68 | 351 | 369 |
| PRSLC-0125 | 0.5 | 3.709 | 397.2 | 733 | 71 | 59150 | 10710 |
| PRSLC-0126 | 0.8 | 0.035 | 1.4 | 7.1 | 68 | 68 | 1080 |
| PRSLC-0127 | 0.6 | 1.429 | 184.8 | 324.7 | 37 | 33870 | 1310 |
| PRSLC-0128 | 0.7 | 0.012 | 1.9 | 6.7 | 61 | 81 | 1410 |
| PRSLC-0129 | 0.5 | 0.176 | 23.9 | 58.8 | 48 | 3190 | 7840 |
| PRSLC-0130 | 0.5 | 0.75 | 138.9 | 303 | 130 | 25620 | 32340 |
| PRSLC-0131 | 0.6 | 0.034 | 2.2 | 14.2 | 47 | 357 | 3480 |
| PRSLC-0132 | 1.3 | 0.045 | 38.4 | 48.9 | 28 | 1550 | 4410 |
| PRSLC-0133 | 1.1 | 0.039 | 9.7 | 15.3 | 35 | 1150 | 765 |
| PRSLC-0134 | 0.6 | 1.304 | 75.1 | 197.5 | 98 | 7450 | 11540 |
| PRSLC-0136 | 0.5 | 2.06 | 80.9 | 258.2 | 51 | 16830 | 5110 |
| PRSLC-0138 | 0.5 | 0.393 | 22 | 54.0 | 42 | 1610 | 2020 |
| PRSLC-0139 | 0.7 | 0.026 | 10.5 | 17.2 | 58 | 1450 | 1300 |
| PRSLC-0140 | 0.5 | 0.631 | 534.8 | 756.4 | 298 | 113590 | 13550 |
| LC-220623-003 | Composite | 0.25 | 400 | 513.1 | 110 | 78800 | 1160 |
| LC-220623-005 | 0.5 | 1.09 | 72.2 | 303.3 | 193 | 57500 | 17000 |
| LC-220623-006 | 0.5 | 0.45 | 15.9 | 174.5 | 133 | 48600 | 9480 |
| LC-070723-001 | Composite | 1.32 | 108 | 293.5 | 30 | 29600 | 19800 |
| LC-070723-002 | Composite | 0.78 | 108 | 188.6 | 72 | 12900 | 7440 |
| LC-070723-003 | Composite | 0.68 | 132 | 392.7 | 164 | 30800 | 67000 |
| LC-070723-004 | Composite | 0 | 1.36 | 2.2 | 2 | 308 | 158 |
| LC-070723-005 | Composite | 0.75 | 304 | 661.4 | 261 | 65900 | 86100 |
| PRS-00011 | Composite | 0.443 | 83.4 | 118.6 | 58 | 0 | 7898 |
| PRS-00014 | Composite | 3.522 | 60.3 | 312 | 72 | 0 | 7009 |
| PRS-00023 | Composite | 1.319 | 154 |
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"text": "The silver equivalent values are notably higher than the silver grades, reflecting the presence of additional valuable metals in the mineralization."
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FAQ
What is the significance of the completion of multi-element analyses on rock samples at the Soledad mine area for Kingsmen Resources (KNGRF)?
The completion of multi-element analyses confirms high-grade silver mineralization in the old workings, indicating significant potential mineralization for Kingsmen Resources
Where is the Las Coloradas project located?
The Las Coloradas project is located 30km from Hidalgo de Parral, Chihuahua, Mexico.
What are the similarities between the Soledad mine area and the Santa Barbara mine?
Both areas exhibit high-grade silver mineralization and are characterized by underground mining structures with potential for significant mineralization.
How do the silver equivalent values compare to silver grades in the Soledad mine area?
The silver equivalent values are notably higher than the silver grades, reflecting the presence of additional valuable metals in the mineralization.
What potential opportunities are missed due to the lack of drilling exploration of mineralized structures at the Soledad mine area?
The absence of drilling exploration may result in missed opportunities to discover additional valuable resources at depth in the mineralized structures.
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