Kingsmen Selects Diamond Drill Targets at Las Coloradas Project
Kingsmen Resources has identified three main target areas for diamond drilling at its Las Coloradas project in Mexico's Parral mining district: the Mine, Aguilar, and Leona targets along the Soledad structure. The Mine target encompasses the old Las Coloradas mine and adjacent structures, while the Leona target covers 530 meters of old high-grade workings, and the Aguilar target spans 250 meters of old high-grade workings. Additional drilling targets are being evaluated. The company's previously announced private placement is fully subscribed, pending TSX Venture Exchange approval. Kingsmen has also granted 1,300,000 stock options to directors and officers at $0.36 per share for a two-year term.
Kingsmen Resources ha identificato tre principali aree di interesse per il drilling di diamanti nel suo progetto Las Coloradas nel distretto minerario di Parral, in Messico: i target Mine, Aguilar e Leona lungo la struttura Soledad. Il target Mine comprende la vecchia miniera Las Coloradas e le strutture adiacenti, mentre il target Leona copre 530 metri di vecchi lavori ad alto grado, e il target Aguilar si estende per 250 metri di vecchi lavori ad alto grado. Ulteriori obiettivi di perforazione sono in fase di valutazione. Il posizionamento privato precedentemente annunciato dall'azienda è completamente sottoscritto, in attesa dell'approvazione del TSX Venture Exchange. Kingsmen ha anche concesso 1.300.000 opzioni su azioni a direttori e funzionari a $0,36 per azione per un termine di due anni.
Kingsmen Resources ha identificado tres áreas principales para la perforación de diamantes en su proyecto Las Coloradas en el distrito minero de Parral, México: los objetivos Mine, Aguilar y Leona a lo largo de la estructura Soledad. El objetivo Mine abarca la antigua mina Las Coloradas y las estructuras adyacentes, mientras que el objetivo Leona cubre 530 metros de antiguas labores de alta ley, y el objetivo Aguilar se extiende por 250 metros de antiguas labores de alta ley. Se están evaluando objetivos adicionales de perforación. La colocación privada previamente anunciada por la empresa está completamente suscrita, a la espera de la aprobación de TSX Venture Exchange. Kingsmen también ha otorgado 1,300,000 opciones sobre acciones a directores y funcionarios a $0.36 por acción por un período de dos años.
킹스맨 리소스는 멕시코 파랄 광산 구역의 라스 콜로라다스 프로젝트에서 다이아몬드 시추를 위한 세 가지 주요 목표 지역을 확인했습니다: 소레다드 구조를 따라 위치한 Mine, Aguilar, Leona 목표입니다. Mine 목표는 옛 라스 콜로라다스 광산과 인접한 구조를 포함하고 있으며, Leona 목표는 530미터의 오래된 고급 작업을 덮고 있고, Aguilar 목표는 250미터의 오래된 고급 작업을 포함하고 있습니다. 추가 시추 목표가 평가되고 있습니다. 회사에서 이전에 발표한 사모 배치는 TSX 벤처 거래소의 승인을 기다리고 있으며, 완전히 구독되었습니다. Kingsmen은 또한 1,300,000개의 스톡 옵션을 $0.36의 주당 가격으로 이사와 임원에게 2년 기간 동안 부여했습니다.
Kingsmen Resources a identifié trois zones principales pour le forage de diamants dans son projet Las Coloradas dans le district minier de Parral, au Mexique : les cibles Mine, Aguilar et Leona le long de la structure Soledad. La cible Mine comprend l'ancienne mine de Las Coloradas et les structures adjacentes, tandis que la cible Leona couvre 530 mètres de vieux travaux de haute qualité, et la cible Aguilar s'étend sur 250 mètres de vieux travaux de haute qualité. Des cibles de forage supplémentaires sont en cours d'évaluation. Le placement privé précédemment annoncé par l'entreprise est pleinement souscrit, en attente de l'approbation de la TSX Venture Exchange. Kingsmen a également accordé 1 300 000 options sur actions aux directeurs et dirigeants à 0,36 $ par action pour une durée de deux ans.
Kingsmen Resources hat drei Hauptzielbereiche für die Diamantbohrung in seinem Las Coloradas-Projekt im Bergbaugebiet Parral in Mexiko identifiziert: die Ziele Mine, Aguilar und Leona entlang der Soledad-Struktur. Das Ziel Mine umfasst die alte Mine Las Coloradas und angrenzende Strukturen, während das Ziel Leona 530 Meter alter hochwertiger Arbeiten abdeckt und das Ziel Aguilar sich über 250 Meter alter hochwertiger Arbeiten erstreckt. Weitere Bohrziele werden geprüft. Die zuvor angekündigte Privatplatzierung des Unternehmens ist vollständig gezeichnet, es fehlt nur noch die Genehmigung der TSX Venture Exchange. Kingsmen hat außerdem 1.300.000 Aktienoptionen an Direktoren und Führungskräfte zu einem Preis von 0,36 $ pro Aktie für einen Zeitraum von zwei Jahren gewährt.
- Project is 100% owned by Kingsmen
- Private placement is fully subscribed
- Multiple high-grade target areas identified for drilling
- Stock option grant may lead to potential dilution
Vancouver, British Columbia--(Newsfile Corp. - November 11, 2024) - Kingsmen Resources Ltd. (TSXV: KNG) (OTCQB: KNGRF) ("Kingsmen" or the "Company") is pleased to report on its continuing exploration program on its
The Company has now selected three principal target areas, the Mine, Aguilar and Leona, on the Soledad structure for its planned diamond drill program. The Mine target includes the old Las Coloradas mine on the SE end of the Soledad structure/vein system, and adjacent mineralized structures. The Leona target covers an area of old high grade workings approximately 530 meters long on the NW end of the Soledad II structure. The Aguilar target covers an area of old high grade workings approximately 250 meters long on the NW end of the Soledad structure/vein system. Other areas of interest have also been identified for drilling with follow up work currently underway.
The Company's recently announced private placement (see news release dated Oct 24,2024) will close once final approvals have been received from the TSX Venture Exchange. The placement is fully subscribed.
In addition, pursuant to its stock option plan, Kingsmen has granted 1,300,000 incentive stock options to directors and officers exercisable at a price of .36 cents per share for a period of two years.
About Las Coloradas
The Las Coloradas Project ( 8.5 km2 -3.3 sq miles) represents a consolidation of a historic mining district which covers numerous silver-gold-lead-zinc-copper mines previously exploited by ASARCO (American Smelting and Refining Company), the U.S. based subsidiary of Grupo Mexico.
Las Coloradas is in the Parral mining district of the Central Mexican Silver Belt, and is located approximately 30 kilometers southeast of the city of Hildago de Parral and 40 kilometers east of the San Francisco de Oro and Santa Barbera mining districts where several old major mines are located, such as La Prieta, Veta Colorada, Palmilla, Esmeralda, San Francisco del Oro and Santa Barbara. As well, new major mining projects are currently being explored in the district; Cordero (Discovery Silver Corp.), 35 kms north of Parral, and La Cigarra (Kootenay Silver Inc.), 35 kms northwest of Parral. Click here to see locator map, https://www.kingsmenresources.com/area-history.
Qualified Person
Kieran Downes, Ph.D., P.Geo., a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical disclosure set out in this news release.
About Kingsmen Resources
In line with Kingsmen's organic-growth strategy, the Company's focus is on exploration and development, and is currently focused on district-scale exploration for high-margin metallic mineral deposits in the prolific mining districts of Parral Mexico. In addition, the company has a
On behalf of the Board, Signed:
"Scott Emerson"
Scott Emerson,
President & CEO
Phone: 6046859316
Email: se@kingsmenresources.com
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statement:
All statements, trend analysis and other information contained in this press release about anticipated future events or results constitute forward-looking statements. Forward-Looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. All statements, other than statements of historical fact, included herein, including, without limitation, statements regarding the completion of the acquisition of the Las Coloradas Project and receipt of regulatory approval, are forward-looking statements. Although Kingsmen believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since Kingsmen can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in Kingsmen's periodic filings with Canadian securities regulators, and assumptions made with regard to: Kingsmen's ability to make the required payments under the definitive agreements; and Kingsmen's ability to secure the necessary regulatory approvals. Forward-Looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Important factors that could cause actual results to differ materially from Kingsmen's expectations include risks associated with the business of Kingsmen; risks related to the satisfaction or waiver of certain conditions to the closing of the acquisition of the Las Coloradas Project; non-completion of the acquisition of the Las Coloradas Project; risks related to exploration and potential development of the Las Coloradas Project; business and economic conditions in the mining industry generally; fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; and other risk factors as detailed from time to time and additional risks identified in Kingsmen's filings with Canadian securities regulators on SEDAR in Canada (available at www.sedarplus.ca). Forward-Looking statements are based on estimates and opinions of management at the date the statements are made. Kingsmen does not undertake any obligation to update forward looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/229467
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