Kestrel Intersects 0.59 g/t Au over 149.35 metres including 0.78 g/t Au over 99.06 metres
NEWS RELEASE
Kestrel Intersects 0.59 g/t Au over 149.35 metres including 0.78 g/t Au over 99.06
metres
Calgary, AB, December 15th, 2022: Kestrel Gold Inc. (“Kestrel” or the “Corporation”, TSX-
V: KGC) is pleased to announce results for the final three holes, QCM22-12, 13 and 14, from the
Corporation’s 2022 six-hole second phase reverse circulation (“RC”) drill program at the QCM
property which is being explored for near surface, bulk tonnage gold mineralization.
Drill Program Highlights:
• All three holes intersected gold bearing mineralization, with values of 0. 59 g/t Au over
149.35 metres, including 0.78 g/t Au over 99.06 metres, found within hole QCM22-14.
• All three holes ended in gold bearing mineralization with the last sample of hole QCM22-
12 containing 1.48 g/t Au over 1.52 metres.
Table 1: Drill Results
Hole From (m) To (m) Interval (m) Au (g/t) Target Hole Depth (m)
QCM22-12 3.05 121.92 118.87 0.43 Main Zone Infill 121.92
including 97.54 121.92 24.38 0.94 Main Zone Infill
QCM22-13 28.96 143.26 114.30 0.65 Main Zone Infill 143.26
including 28.96 67.06 38.10 1.16 Main Zone Infill
QCM22-14 3.05 152.40 149.35 0.59 Main Zone Infill 152.40
including 12.19 111.25 99.06 0.78 Main Zone Infill
• Reported intervals are down-hole lengths. True thicknesses cannot be determined with
available information.
• Gold-bearing intervals are hosted by carbonate and silica altered volcanic sandstone and
lesser argillite cut by sheeted to stockwork quartz veins, and variably mineralized with up
to 10% pyrite in some intervals. Mariposite has also been noted in some intervals.
Figure 1: Main Zone Hole Location Map
Rob Solinger, President and CEO of Kestrel, states: “We are pleased to have received final results
for our 2022 QCM drill program . The Main Zone continues to yield broad bulk tonnage style
intersections that help confirm the presence of a significant gold bearing zone in this area. These
results together with the new discovery we made at 14 Vein, where drilling earlier this year returned
2.33 g/t Au over 44.19 metres, speak to the overall prospectivity of the property. We look forward to
continued exploration of both zones and further prospecting across the property.”
Table 2: RC Hole Location Data (coordinates in Zone 10, NAD83)
Hole ID Easting Northing Azimuth Dip Depth (ft) Depth (m) Target
QCM22-12 399995 6172618 180 -45 400 121.92 Main Zone
QCM22-13 400083 6172596 180 -45 470 143.26 Main Zone
QCM22-14 400130 6172567 180 -45 500 152.4 Main Zone
2021 Main Zone Drill Intersections:
Hole From (m) To (m) Interval (m) Au (g/t) Target Hole Depth (m)
QCM21-1 4.57 19.82 15.25 1.277 Northwest Extension 128.05
and 39.63 106.71 67.08 0.411 Northwest Extension
QCM21-2 28.96 53.35 24.39 0.362 Northwest Extension 179.88
and 67.07 102.13 35.06 0.493 Northwest Extension
QCM21-3 3.05 80.79 77.74 0.467 Main Zone Infill 80.79
including 3.05 30.49 27.44 0.786 Main Zone Infill
QCM21-4 7.62 179.88 172.26 0.571 Main Zone Infill 179.88
including 7.62 62.50 54.88 0.905 Main Zone Infill
QCM21-5 1.52 65.55 64.03 1.040 Main Zone Infill 65.55
including 7.62 35.06 27.44 1.834 Main Zone Infill
QCM21-6 Hole terminated at 15.24 metres due to poor ground conditions.
QCM21-7 7.62 160.06 152.44 0.847 Main Zone Infill 160.06
including 25.91 42.68 16.77 3.665 Main Zone Infill
QCM21-8 Hole terminated at 7.62 metres due to poor ground conditions.
QCM21-9 16.77 172.26 155.49 0.400 Main Zone Infill 175.30
including 18.29 33.54 15.25 0.806 Main Zone Infill
See https://www.kestrelgold.com/news/apri-23-2022 for details of 2021 Main Zone drilling.
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 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.
• 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. https://www.kestrelgold.com/news/oct-25-2022
• 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.
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 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 relea se 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 forwa rd-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]