Kestrel’s 2022 Phase 2 QCM Drilling Intersects 2.33 g/t Au over 44.19 metres
NEWS RELEASE
Kestrel’s 2022 Phase 2 QCM Drilling Intersects 2.33 g/t Au over 44.19 metres
Calgary, AB, October 25th, 2022: Kestrel Gold Inc. (“Kestrel” or the “Corporation”, TSX-V:
KGC) is pleased to announce results for holes QCM22-9, 10 and 11, from the Corporation’s 2022
six-hole second phase reverse circulation (“RC”) drill program at the QCM property. These three
holes followed up positive results from 2022 first phase holes QCM22-4, 6 and 8 that tested
prospecting targets. Results for the remaining three second phase holes that were completed at
the QCM Zone will be released once full analytical results have been received and interpreted.
The QCM property is being explored for near surface, bulk tonnage gold mineralization.
Drill Program Highlights:
• Hole QCM22-9 that intersected 2.33 g/t Au over 44.19 metres undercut first phase hole
QCM22-8 that intersected 2.39 g/t Au over 21.33 metres.
• Hole QCM22-10 that intersected 0.25 g/t Au over 47.24 metres was drilled adjacent to first
phase hole QCM22-4 to test for extensions to the 0.35 g/t Au over 36.58 metres interval
located at the bottom of hole QCM22-4.
Table 1: Drill Results
Hole From (m) To (m) Interval (m) Au (g/t) Target Phase 1 Hole Hole Depth (m)
QCM22-9 3.05 47.24 44.19 2.33 14 Vein QCM22-8 121.92
including 30.48 32.00 1.52 22.20 14 Vein
and 39.63 41.15 1.52 13.75 14 Vein
QCM22-10 28.96 76.20 47.24 0.25 Flagstaff NW QCM22-4 121.92
including 28.96 30.48 1.52 1.58 Flagstaff NW
QCM22-11 scattered anomalous values Flagstaff SE QCM22-6 121.92
• Reported intervals are down-hole lengths. True thicknesses cannot be determined with
available information.
• Hole QCM22-9 collared in material grading 0.52 g/t Au over 1.52 metres.
• The relationship between the gold bearing intervals found within holes QCM22-8 and 9 as
well as the targeted surface showing suggest that the gold-bearing mineralization in this
area trends approximately northeast and dips southeast.
• Gold-bearing intervals are hosted by argillite and lesser sandstone of the Quesnel and
Cassiar Terranes. Gold-bearing intervals are typically carbonate and silica altered, cut by
variably sized sheeted to stockwork quartz veins and are mineralized with up to 3% pyrite.
Mariposite has been noted in some intervals.
See https://www.kestrelgold.com/news/oct-14-2022 for details of Kestrel’s 2022 phase 1 drilling.
Rob Solinger, President and CEO of Kestrel, states: “ Excellent results of up to 2.39 g/t Au over
21.33 metres and 2.33 g/t Au over 44.19 metres in holes 8 and 9 respectively confirm the presence
of a new and potentially significant discovery in this area of the QCM property. These intervals
remain open in almost all directions , with their good grade, size and continuity signifying the
presence of a robust system. This discovery together with the QCM Zone where drilling last year
returned up to 0.847 g/t Au over 152.44 metres confirms our belief that the property has strong
potential to host multiple potentially significant gold-bearing zones. We appreciate our investors'
patience while this work was completed and we look forward to results of the three holes drilled
into the QCM Zone as well as further exploration of these and other targets on the property.”
Figure 1: Hole Location Map
Figure 2: Section for Holes QCM22-8 and QCM22-9
Farrell
Flagstaff
QCM Zone
Flagstaff NW
Flagstaff SE
14 Vein
Table 2: RC Hole Location Data (coordinates in Zone 10, NAD83)
Hole ID Easting Northing Azimuth Dip Depth (ft) Depth (m) Target
QCM22-9 396121 6179252 300 -45 400 121.92 14 Vein
QCM22-10 396542 6175640 37 -45 400 121.92 Flagstaff NW
QCM22-11 400058 6173399 17 -45 400 121.92 Flagstaff SE
QCM Project Highlights:
• Project is comprised of 6,906 hectares covering an approximate 15-kilometre strike length
of the Manson Fault Zone which is thought to be a controlling structure for much of the
gold mineralization in the district.
• Peak values from historical drilling completed within the QCM Zone were found within hole
QCM04-002 which intersected an interval of 2.86 g/t Au over 110.95 metres, including a
high-grade interval of 173 g/t Au over 1.5 metres, true widths unknown.
• Numerous showings occur throughout the project area, including Farrell where historical
values of up to 1,777 g/t Au and 3,560 g/t Ag have been returned from grab samples of a
3.0-metre wide quartz vein and Flagstaff where historical values of up to 5.9 g/t Au and
1,153 g/t Ag have been reported for grab samples of quartz veins and stockworks.
• Recently comp leted logging and associated road building has significantly improved
access and created numerous new bedrock exposures throughout the property.
Quality Assurance/Quality Control and Sampling Procedures
Drilling was completed using a RC drill that cut a 92 millimeter (3.62 inch) in diameter hole. Holes
were sampled top to bottom in 1.52 metre (5 foot) intervals. Drill cuttings were captured in a
cyclone then split in a three-tiered Jones-type riffle splitter. Samples were sent to ALS Chemex,
an independent laboratory in Vancouver B.C. where a nalytical results were obtained using Au-
AA23, a fire assay method for gold, and ME-ICP41 an aqua regia digestion for trace element
geochemistry. For QA/QC purposes, standards and field duplicates were inserted into the sample
sequence at a rate of approximately one QA/QC sample for every ten samples submitted to the
lab. An initial review of the drilling, sampling and assaying procedures did not recognize any
factors that would materially affect the accuracy or reliability of the assay data disclosed.
Qualified Person
Derek Torgerson P.Geo., a Qualified Person as defined by National Instrument 43 -101, has
reviewed and approved the technical information contained in this news release.
About Kestrel Gold
Kestrel Gold Inc. is an exploration company headquartered in western Canada. The Corporation
is focused on the Canadian Cordillera, with an emphasis on hardrock targets located in placer
gold mining districts. We are also earning a 100% interest in the Fireweed Property, an advanced
stage silver rich polymetallic VMS target. Kestr el is listed on the TSX Venture exchange under
the symbol KGC. Readers are encouraged to refer to the Corporation’s website
“www.kestrelgold.com” for further information.
Forward-Looking Statements
The information and statements in this news release contain certain forward -looking information. This
forward-looking information relates to future events or the Corporation’s future performance including
exploration activity that could take place on the Corporation’s properties or projects. This forward -looking
information is subject to certain risks and uncertainties and may be based on assumptions that could cause
actual results to differ materially from those anticipated or implied in the forward -looking information. The
Corporation’s forward-looking information is expressly qualified in its entirety by this cautionary statement.
Except as required by law, the Corporation undertakes no obligation to publicly update or revise any
forward-looking information.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (as that
term is defined in the policies of the TSX Venture Exchange) ACCEPTS RESPONSIBILITY FOR THE
ADEQUACY OR ACCURACY OF THIS RELEASE.
For further information contact:
Rob Solinger, President and CEO
Office: (403) 816-2141
Email: [email protected]