Kestrel Gold - Corporate and Exploration Update
NEWS RELEASE
Kestrel Gold - Corporate and Exploration Update
Calgary, AB, August 1st, 2023: Kestrel Gold Inc. (“Kestrel” or the “Corporation”, TSX -V:
KGC) is pleased to provide an update on corporate and exploration activities.
• Results for the 2023 QCM prospecting program have been received, compiled, and
interpreted. Highlights include work at Area G where sampling of sheared, gougey and
carbonate altered argillite cut by a quartz limonite vein returned values of from <0.005 g/t
Au to 2.085 g/t Au. The peak value of 2.085 g/t Au was returned from a 1.2 metre channel
sample of wallrock to a 40-centimetre-wide southeast striking quartz limonite vein, 2022
sampling of which returned 1.11 g/t Au. Area G is located approximately 600 metres
southeast of 14 Vein where drilling in 2022 returned up to 2.33 g/t Au over 44.19 metres.
• A representative of a major mining company was toured on the QCM property. Kestrel has
had discussions with the major mining company with a view towards facilitating further
advancement of the QCM property.
• The Corporation has finished the permitting process for a three-year exploration permit for
the QCM property allowing for reverse circulation (“RC”) drilling and excavator trenching
from the British Columbia Ministry of Mines, Energy and Low Carbon Innovation
(“Ministry”). The permit will become active upon Kestrel supplying an approved RC drilling
dust suppression plan to the Ministry.
Rob Solinger, President and CEO of Kestrel, states: “We are pleased to continue advancing the QCM
project. Diligent prospecting continues to yield discoveries of merit, particularly in the area of 14 Vein
where potential for a potentially significant mineralized trend continues to be demonstrated and
expanded upon. We are also encouraged to have a representative of a major mining company reach
out to us and request a tour of the project. The tour was completed and discussions between the
major mining company and Kestrel are ongoing. Finally, the receipt of the exploration permit will
allow us to continue systema tic exploration of the various mineralized showings and anomalies
found across the property , including further drilling at 14 Vein, Main Zone and various other
significant showings and anomalies including Area G.”
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 during the 2004 -2007 period within Main
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. See the following news releases related to Kestrel’s 2021 and 2022 drilling at
Main Zone:
https://www.kestrelgold.com/news/apri-23-2022-r2xzf
https://www.kestrelgold.com/news/dec-15-2022-dhfjj
• Prospecting during 2022 resulted in the discovery of the 14 Vein showing, drilling of which
returned 2.33 g/t Au over 44.19 metres. Geology consists of silica and carbonate altered
argillite cut by sheeted quartz veins. See the following news release related to our 2022
drilling at 14 Vein:
https://www.kestrelgold.com/news/oct-25-2022-e7yzr
• Numerous historical 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 were 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 were reported for grab samples of quartz veins and stockworks.
• Recently completed logging and associated road building has significantly improved
access throughout the property which is proving of significant value to exploration efforts.
Figure 1: showings on reduced to pole airborne magnetics
Figure 2: showings on BCGS geology
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 epithermal target. Kestrel 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]