Kestrel’s QCM Drill Program Intersects 0.847 g/t Au over 152.44 metres including 3.665 g/t Au over 16.77 metres
NEWS RELEASE
Kestrel’s QCM Drill Program Intersects 0.847 g/t Au over 152.44 metres including
3.665 g/t Au over 16.77 metres
Calgary, AB, April 21st, 2022: Kestrel Gold Inc. (“Kestrel” or the “Corporation”, TSX -V:
KGC) is pleased to announce results of the Corporation’s 2021 reverse circulation (“RC”) drill
program completed on the QCM property. The program, comprising 992.38 metres in nine holes,
provided infill drilling within, and confirmed the potential for northwest strike extensions to , the
QCM Zone. The QCM Zone is a road accessible, near surface, bulk tonnage gold target consisting
of replacement and vein style mineralization within carbonate altered and pyritic volcanic
greywacke and argillite.
Drill Program Highlights:
• Broad intervals of gold-bearing mineralization and alteration were intersected in all holes
completed, with peak values of 0.847 g/t Au over 152.44 metres including 3.665 g/t Au
over 16.77 metres found within hole 7.
• The gold bearing intervals within holes 1 and 2 provide confirmation that the QCM Zone
remains open beyond the northwestern limits of the historical drill array.
• Holes 3 (240° Azimuth) and 7 (180° Azimuth) were drilled from the same pad and at the
same -45° dip. The overall higher gold values found within hole 7 may be attributed to the
presence of narrow gold bearing shears trending approximately 240° Azimuth which would
be intersected by hole 7 but which trend parallel to hole 3 and were therefore likely missed.
• The program tested an approximate 350 metre strike length of the QCM Zone.
Table 1: Drill Results
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
• True widths of the reported intervals are unknown.
• Holes QCM21-3, 4, 5 and 7 bottomed in 1.52 metre intervals grading 0.13 g/t Au, 0.38 g/t
Au, 0.56 g/t Au and 1.02 g/t Au respectively.
• Due to poor ground conditions, holes QCM21-1, 3, 5, 6 and 8 were terminated before their
planned target depth of approximately 160 metres.
• Due to the project’s location within an active placer gold mining district , and historical
reports of coarse visible gold within the QCM Zone , all gold analyses were completed
using a metallic screen method.
• Limited amounts of trace elements are found within the QCM Zone, with the most common
gold pathfinder element being copper which occurs in amounts of up to 539 ppm but
typically averaging approximately 100 ppm.
Rob Solinger, President and CEO of Kestrel, states: “We are very pleased to have finally received
results for our QCM drill program, and thank our shareholders for their patience during this wait. The
QCM Zone is a tabular northwest trending and southwest dipping body extending over an
approximate 650 metre length, open to the northwest, by 350 metre width and possibly averaging 50
metres or more in thickness. These dimensions coupled with the gold grades returned from current
and historical drilling suggest the potential for a significant gold resource within the QCM Zone .
Preliminary planning for 2022 includes continued drilling of the QCM Zone focusing on expanding the
Zone to the northwest as well as further infill drilling. An initial drill test of targets identified by our 2021
prospecting program is also being planned.”
For details on the 2021 prospecting program see the Corporation’s February 18 th, 2022 news
release that can be found at https://www.kestrelgold.com/news/nov-23-2021-49rxs.
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
QCM21-1 399788 6172594 20 -45° 420 128.05 Northwest Extension
QCM21-2 399798 6172610 200 -45° 590 179.88 Northwest Extension
QCM21-3 399900 6172624 240 -45° 265 80.79 QCM Zone Infill
QCM21-4 400031 6172621 240 -45° 590 179.88 QCM Zone Infill
QCM21-5 400133 6172574 240 -45° 215 65.55 QCM Zone Infill
QCM21-6 400135 6172567 60 -70° 50 15.24 QCM Zone Infill
QCM21-7 399904 6172625 180 -45° 525 160.06 QCM Zone Infill
QCM21-8 400145 6172562 0 90° 25 7.62 QCM Zone Infill
QCM21-9 399994 6172620 0 90° 575 175.30 QCM Zone Infill
QCM Project Highlights:
• Project is comprised of 5,975 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.
• 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 resulted in improved access and numerous new bedrock
exposures throughout the property. This has facilitated Kestrel’s prospecting efforts which
have resulted in the discovery of several new gold-bearing showings. See Kestrel’s
September 2nd, 2021 and February 18th, 2022 News Release’s.
Quality Assurance/Quality Control and Sampling Procedures
Drilling was completed using a reverse circulation drill that cut a 95 millimeter (3.75 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 Bureau Veritas , an independent laboratory in Vancouver B.C. where a nalytical results were
obtained using FS631, a metallic screen/fire assay method for gold, and AQ300 an aqua regia
digestion for trace element geochemistry . For quality assurance/quality control purposes,
standards, blanks and fie ld 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 a gold exploration company headquartered in western Canada. The
Corporation is focused on gold exploration within the Canadian Cordillera, with an emphasis on
hardrock targets located in placer gold mining districts. 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 requir ed 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]