Exploration drives the company.
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Exploration drives the company.
TSX-V: KNG
OTCQB: KNGRF
LAS COLORADAS PROJECT SURFACE SAMPLING OF THE SOLEDAD II STRUCTURE
VANCOUVER, BRITISH COLUMBIA – August 9, 2023 (TSXV: KNG), (OTC: KNGRF), Kingsmen
Resources Ltd. (“Kingsmen” or the “ Company”) is pleased to report new results from its on -going surface
sampling program of old workings along the Soledad and Soledad II structures, and their subsidiary structures, in the
southeast part of the Las Coloradas project, Chihuahua, Mexico. Located 30km from Hildago de Parral, Chihuahua,
the Soledad structures were historically mined by ASARCO (American Smelting and Refining Company), from 1943
to 1952.
Results are presented in Figure 1 and Table 1.
Highlights
• Twenty-one (21) samples were collected.
o ➢ 4 > 300 g/t silver
o ➢ 2 > 200 g/t silver
o ➢ 2 > 100 g/t silver
• Three areas with high grade silver values are recognized.
• Prospecting and sampling are continuing.
Scott Emerson, President commented: “ These first results are extremely encouraging as they clearly demonstrate the
persistence of high-grade silver mineralization on part of a second important structure which is 1 .2 km to the NW of the old
Las Coloradas mine. Work is continuing along the entire extent of the structure. This is an area, of unexplored potential due
to the previously fragmented property ownership. ”
The old workings on the NW-trending Soledad II structure are distributed over approximately 1,000 meters (Figure 1). The
best silver grades are found over a 400 meters length of the northern part of the structure where it occurs in volcanics and tracks
felsic intrusives. The best silver gra des are found in the El Nido, Enjambre and La Pila mines. At El Nido the quartz vein
structure is offset to the northeast, likely due to an intersection with the NE-trending La Chiquita structure, indicating structural
complexity with high grade silver. This is a positive setting for mineralization. A similar structural intersection with high grade
silver occurs where the NE-trending La Avispa structure intersects at the La Pila mine. Anomalous silver also occurs in the La
Avispa mine. The La Avispa structure tracks the contact of volcanics with felsic intrusives.
The overall structural picture is one where the two principal NW-trending mineralized structures (Soledad and Soledad II) are
cut by NE -trending structures (+/ - mineralization). Unsurprisingly, the projected intersections of the two sets of structures
appear favourable for high grade silver mineralization and this is supported by the sampling.
The currently exposed geology, structures and mineralization are functions of erosion and imperfect exposure. The significant
strike length of the Soledad and Soledad II structures indicate the structures will continue at depth with the potential for high
grade silver mineralization. The structures have not been tested/explored at depth, to-date.
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Figure 1
Table 1
SAMPLING RESULTS* CHECK SAMPLING**
Sample Width (m) Au_ppm Ag_ppm Site Type Au_ppm Ag_ppm Cu_ppm Pb_ppm Sb_ppm Zn_ppm
PRSLC-0001 0.7 0.243 497.97 El Nido Mine Surface 1.985 427 103 >10000 74 155
PRSLC-0002 1 2.462 218.89 El Nido Mine Surface
PRSLC-0003 0.8 0.233 85.6 El Nido Mine Surface
PRSLC-0004 1 0.225 142.95 El Nido Mine Surface
PRSLC-0005 1 0.269 35.7 El Nido Mine Surface
PRSLC-0006 0.5 0.223 138.57 El Enjambre Vein Surface
PRSLC-0007 1 0.01 4.8 El Enjambre Vein Surface
PRSLC-0008 0.5 2.893 481.66 Tecomblate Mine Surface
PRSLC-0009 0.6 0.454 68.3 La Pila Mine Surface
PRSLC-0010 0.5 0.983 284.12 La Pila Mine Surface
PRSLC-0011 0.5 1.287 375.47 Tecomblate Mine Surface
PRSLC-0012 0.7 0.369 329.82 Tecomblate Mine Surface
PRSLC-0013 1.3 0.093 52.4 Tecomblate Mine Surface
PRSLC-0014 1.3 0.044 19.6 Tecomblate Mine Surface
PRSLC-0023 0.6 0.13 43 La Avispa Mine Surface
PRSLC-0024 0.8 0.048 54.7 La Avispa Mine Surface
PRSLC-0025 0.6 0.121 362.03 La Avispa Mine Surface
PRSLC-0030 1.3 0.0025 1.2 El Arroyo Vein Surface
PRSLC-0031 0.5 0.017 5.9 El Arroyo Vein Surface
PRSLC-0035 0.5 0.008 16.6 La Escalera Mine Surface
PRSLC-0036 0.5 0.162 13.7 La Escalera Mine Surface
*Actlabs Mexico S.A. de C.V. **ALS Chemex Labs, Ltd.
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About Las Coloradas
The Las Coloradas Project ( 8.5 km 2 -3.3 sq miles) represents a consolidation of a historic mining district which
covers numerous silver-gold-lead-zinc-copper mines previously exploited by ASARCO (American Smelting and
Refining Company).
Las Coloradas is in the Parral mining district of th e Central Mexican Silver Belt, and is located approximately 30
kilometers southeast of the city of Hildago de Parral and 40 kilometers east of the San Francisco de Oro and Santa
Barbera mining districts where several old major mines are located, such as La Prieta, Veta Colorada, Palmilla,
Esmeralda, San Francisco del Oro and Santa Barbara. As well, new major mining projects are currently being
explored in the district; Cordero (Discovery Silver Corp.), 35 kms north of Parral, and La Cigarra (Kootenay Silver
Inc.), 35 kms northwest of Parral. Click here to see locator map, https://www.kingsmenresources.com/area-history
Qualified Person
Kieran Downes, Ph.D., P.Geo., a Qualified Person as defined by National Instrument 43-101, has reviewed and
approved the scientific and technical disclosure set out in this news release.
About Kingsmen Resources
In line with Kingsmen’s organic-growth strategy, the Company’s focus is on exploration and development, and is
currently focused on district-scale exploration for high -margin metallic mineral deposits in the prolific mining
districts of Parral Mexico. In addition, the company has a 1% NSR on the Los Ricos North project in Mexico
operated by GoGold Resources Inc. The Company’s leaders have extensive experience in the mining and financial
sectors. Kingsmen is a publicly -traded company (TSX.V:KNG; OTCQB: KNGRF) and is headquartered in
Vancouver, British Columbia.
On behalf of the Board,
“Scott Emerson”
Scott Emerson,
President & CEO
Phone: 604-685-9316
Email: [email protected]
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the
adequacy or accuracy of this release.
Forward-Looking Statement:
All statements, trend analysis and other information contained in this press release about anticipated future events or results constitute
forward-looking statements. Forward -looking statements are often, but not always, identified by the use of words such as “seek”,
“anticipate”, “believe”, “plan”, “estimate”, “expect” and “intend” and statements that an event or result “may”, “will”, “should”, “could”
or “might” occur or be achieved and other similar expressions. All statements, other than statements of historical fact, included herein,
including, without limitation, statements regarding the completion of the acquisition of the Las Coloradas Project and receip t of
regulatory approval, are forward -looking statements. Although Kingsmen believes that the exp ectations reflected in such forward -
looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since
Kingsmen can give no assurance that such expectations will prove to be correct. These statemen ts involve known and unknown risks,
uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking
statements, including the risks, uncertainties and other factors identified in Kingsmen’s periodic filings with Canadian secu rities
regulators, and assumptions made with regard to: Kingsmen’s ability to make the required payments under the definitive agreements;
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and Kingsmen’s ability to secure the necessary regulatory approvals. Forward-looking statements are subject to business and economic
risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the
forward-looking statements. Important factors that could cause actual results to differ materially from Kingsmen’s expectations include
risks associated with the business o f Kingsmen; risks related to the satisfaction or waiver of certain conditions to the closing of the
acquisition of the Las Coloradas Project; non-completion of the acquisition of the Las Coloradas Project; risks related to exploration and
potential development of the Las Coloradas Project; business and economic conditions in the mining industry generally; fluctuations in
commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and
grade of mineral deposits; the need for cooperation of government agencies in the exploration and development of properties a nd the
issuance of required permits; the need to obtain additional financing to develop properties and unce rtainty as to the availability and
terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated
program milestones; uncertainty as to timely availability of permits and other governmental approvals; and other risk factors as detailed
from time to time and additional risks identified in Kingsmen’s filings with Canadian securities regulators on SEDAR in Canada (available
at www.sedar.com). Forward-looking statements are based on estimates and opinions of management at the date the statements are
made. Kingsmen does not undertake any obligation to update forward looking statements except as required by applicable securi ties
laws. Investors should not place undue reliance on forward-looking statements