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Press Release Source: Kimberly Gold Mines
Kimberly Gold Mines, Inc. Announces Drill Results on Compton Property in Wenatchee Gold Belt
Thursday September 1, 12:58 pm ET
COEUR D'ALENE, Idaho--(BUSINESS WIRE)--Sept. 1, 2005--Kimberly Gold Mines (OTC:KMGM - News) Kimberly Gold Mines, Inc. is pleased to announce the completion of its Compton Drill Program within the Wenatchee Gold Belt. The program consisted of eight diamond drill holes (holes Com 43 to 50, totaling 5,000ft) designed to sample and expand on the gold-bearing silicified zone identified at the surface of the Compton Property by Asamera Inc. in the 1990's.
Phase One -- Holes 43, 44 and 50 were designed to test the high-grade gold area where Asamera drilling has returned intercepts grading up to 3.1 oz/t gold, and to expand this zone to depth (hole 44) and to the north (hole 50).
The high-grade gold intercepts in holes 43 and 50 support Asamera's
drill data (see table below).
Hole From To Interval Au Au Ag (ppm) Ag (oz/t)
(ppm)(1) (oz/t)(2)
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Com-43 102 107 5 4.853 0.16 9.04 0.33
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Com-43 117 122 5 32.713 0.90 28.11 0.885
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Com-43 227 232 5 7.624 0.222 8.31 0.25
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Com-43 232 237 5 4.54 0.145 4.77 0.14
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Com-43 267 272 5 5.175 0.148 6.36 0.19
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Com-43 592 597 5 2.504 0.07 1.08 0.03
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Com-50 22 27 5 1.598 0.05 6.3 0.18
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Com-50 27 32 5 3.366 0.10 6.54 0.19
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Com-50 50 55.5 5.5 15.572 0.45 13.56 0.40
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Com-50 61 66.5 5.5 23.596 0.69 14.47 0.42
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Com-50 66.5 72 5.5 2.47 0.07 1.37 0.04
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(1) FA with an AA finish
(2) FA with a Gravimetric Finish
Hole 44 appears to have been designed too steeply and was drilled beneath the zone.
Phase Two - Holes 45 to 49 were designed to expand the known area of silicification to the south-east, and to explore the high silver intercepts identified in the West Eagle Creek Fault System by Asamera and Yamana drill-holes (step-out drilling).
All holes, with the exception of 49, intersected broad zones of silicification with elevated gold and silver mineralization. No gold values in excess of 1 gram per ton were encountered, however the wide spacing of the drill holes leaves considerable potential remaining.
Conclusions
The drill results yielded by Hole 43 supports the information obtained from Asamera's database containing intercepts grading up to 3.1 oz/t gold, while Hole 50 was successful in expanding the potential boundaries of this same high-grade gold area to the north.
The step-out drilling of Holes 45 through 49 expanded the limits of the near-surface epithermal system, and provided information on the West Eagle Creek Fault that forms the eastern boundary to the system. The step-out holes appear to have drilled the roots of an epithermal system. It is likely that a high-grade silicified zone will be found at shallower depths.
Future efforts on the Compton property will likely focus upon short-hole, shallow surface drilling definition of the high-grade gold area verified by Holes 43 and 50, with intent to develop a mineral resource.
Kimberly Gold President, Kevin Shiell, stated, "We are very encouraged with the results of our first drill program in the Wenatchee Gold Belt."
Kimberly Gold Mines is an aggressive gold exploration company focused on the historic mining districts of the Pacific Northwest. Active Kimberly projects include the Kimberly and Rescue Gold Mines in central Idaho, the Matthews property in the Wenatchee Gold Belt of central Washington, and the Empire Creek Project in the Republic Graben of northeastern Washington. Kimberly stock trades on the OTC Market under the symbol "KMGM".
Certain statements contained in this press release are "forward looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based on beliefs of management, as well as assumptions made by and information currently available to management. Forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from expected results.
If you would like to receive press releases via email contact: Monique Hayes at 208-667-8450.
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Contact:
Kimberly Gold Mines, Inc.
Kevin Shiell, 208-667-8450
or