Kestrel’s 2022 Phase 1 QCM Drill Program Intersects 2.39 g/t Au over 21.33 metres
NEWS RELEASE
Kestrel’s 2022 Phase 1 QCM Drill Program Intersects 2.39 g/t Au over 21.33
metres
Calgary, AB, October 12th, 2022: Kestrel Gold Inc. (“Kestrel” or the “Corporation”, TSX-V:
KGC) is pleased to announce results of the Corporation’s 2022 first phase reverse circulation
(“RC”) drill program completed on the QCM property. The program, comprising 519 metres in
eight holes, provided a preliminary test of six of Kestrel’s grassroots generative prospecting
targets. The QCM property is being explored for near surface, bulk tonnage gold mineralization.
Drill Program Highlights:
• Peak program values of 2.39 g/t Au over 21.33 metres were returned from the top of hole
8, with the hole collaring in material grading 0.56 g/t Au over 1.52 metres.
• New discoveries of potential significance were encountered in holes 4, 6 and 8.
• Gold bearing intervals are hosted by argillite and lesser sandstone of the Takla Group and
Cassiar Terrane. Gold bearing i ntervals typically exhibit carbonate and silica alteration,
are cut by variably sized sheeted to stockwork quartz veins and are minera lized with up
to 3% pyrite. Mariposite has been noted in some sections.
Table 1: Drill Results
Hole From (m) To (m) Interval (m) Au (g/t) Target Hole Depth (m)
QCM22-1 no significant results Adit Zone 60.96
QCM22-2 scattered anomalous values Adit Zone 60.96
QCM22-3 scattered anomalous values 4.3 Vein 64.01
QCM22-4 24.38 60.96 36.58 0.35 Flagstaff NW 60.96
including 42.67 44.19 1.52 3.48 Flagstaff NW
QCM22-5 scattered anomalous values Flagstaff SE 60.96
QCM22-6 7.62 18.28 10.66 0.46 Flagstaff SE 85.34
including 7.62 9.14 1.52 1.30 Flagstaff SE
QCM22-7 scattered anomalous values Alcove 62.48
QCM22-8 3.05 24.38 21.33 2.39 14 Vein 63.39
including 15.24 16.76 1.52 22.97 14 Vein
• True widths of the reported intervals are unknown.
• The 22.97 g/t Au value reported for the high-grade interval in Hole 22-8 from 15.24 metres
to 16.76 metres represents the average of assay values for the original sample that
returned 13.55 g/t Au and a field duplicate for that interval that returned 32.40 g/t Au.
• Hole QCM22-4 bottomed in a 1.52 metre interval grading 0.18 g/t Au, suggesting the target
may remain open to depth.
• Holes QCM22-6 and QCM22-8 collared in 1.52 metre intervals grading 1.30 g/t Au and
0.56 g/t Au respectively.
• The relationship between the gold bearing intervals within hole 8 and the targeted surface
showings suggest the mineralization has a northeast trend with a slight southeast dip.
Rob Solinger, President and CEO of Kestrel, states: “We are encouraged by the results of this initial
drill test of our prospecting targets. Hole 8 that returned 2.39 g/t Au over 21.33 metres collared in
mineralization while results from holes 4 and 6 are also compelling. Our pursuit of near surface bulk
tonnage gold targets remains on track and we look forward to reporting results from our phase 2 drill
program designed to expand upon results from holes 4, 6 and 8 as well as results from last year’s
work at the QCM Zone where drilling returned up to 0.847 g/t Au over 152.44 metres. We would also
like to thank our exploration team who continue to perform high quality cost-effective exploration.”
Figure 1: Hole Location Map
Table 2: RC Hole Location Data (coordinates in Zone 10, NAD83)
Hole ID Easting Northing Azimuth Dip Depth (ft) Depth (m) Target
QCM22-1 396760 6178117 110 -45 200 60.96 Adit
QCM22-2 396760 6178117 20 -45 200 60.96 Adit
QCM22-3 396354 6179224 127 -45 210 64.01 4.3 Vein
QCM22-4 396545 6175637 37 -45 200 60.96 Flagstaff NW
QCM22-5 400069 6173337 17 -50 200 60.96 Flagstaff SE
QCM22-6 400060 6173462 310 -50 280 85.34 Flagstaff SE
QCM22-7 396900 6178536 0 -45 205 62.48 Alcove
QCM22-8 396101 6179269 300 -45 208 63.39 14 Vein
QCM Project Highlights:
• Project is comprised of 6,305 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 returned 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.
Farrell
Flagstaff
QCM Zone
Flagstaff NW
Flagstaff SE
Adit
Alcove
14 Vein
4.3 Vein
• 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 completed logging has left a legacy of significantly improved access and
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 riffle split in a three -tiered Jones-type 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. 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 imp lied 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 an y
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]