Exploration drives the company.
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Exploration drives the company.
TSX-V: KNG
OTCQB: KNGRF
KINGSMEN RESOURCES YIELDS UP TO 448G/T SILVER FROM SURFACE SAMPLING
ON THE NW PART OF THE SOLEDAD STRUCTURE
VANCOUVER, BRITISH COLUMBIA – November 2, 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), the U.S. based subsidiary of Grupo Mexico.
Results are presented in Figure 1 and Table 1.
Highlights
• Twenty-four (24) samples were collected.
• 1>400 g/t silver
• 1>300 g/t silver
• 1 > 200 g/t silver
• 1 > 100 g/t silver
• Three areas with high grade silver values are recognized.
• Prospecting and sampling are continuing.
Scott Emerson, President commented: “These results, together with the previously announced assays from
Soledad SE, indicate the presence of significant silver mineralization over a distance of approximately 1.6
kilometers of the Soledad structure.”
The old workings on the NW part of the Soledad structure are distributed over approximately 800 meters
(Figure 1). The best silver grades are found in the La Pamela mine which occurs in felsic intrusives. This area
is likely an important structural setting where the La Avispa and Soledad structures intersect. The Soledad
mineralized structure flexes significantly between El Tronco and La Pamela likely due to structural off-sets such
as seen at the El Chapulin mine. The El Durmiente and La Chiquita mines occur on a NE-trending structure.
While the silver grades of the samples are modest (limited access to remnant mineralization) the structure, if
projected, would intersect the El Nido area of the Soledad II structure where higher silver grades occur.
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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-0015 0.6 0.013 4.00 El Durmiente Mine SURFACE
PRSLC-0016 0.8 0.025 64.00 El Durmiente Mine SURFACE
PRSLC-0017 1 0.008 1.80 El Durmiente Mine SURFACE
PRSLC-0018 0.8 0.099 45.60 La Chiquita Mine SURFACE
PRSLC-0019 0.9 0.007 5.90 La Chiquita Mine SURFACE
PRSLC-0020 0.7 0.05 33.20 La Chiquita Mine SURFACE
PRSLC-0021 1.2 0.009 7.10 La Chiquita Mine SURFACE
PRSLC-0022 1.3 0.006 1.70 La Chiquita Mine SURFACE
PRSLC-0023 0.6 0.13 43.00 La Avispa Mine SURFACE
PRSLC-0024 0.8 0.048 54.70 La Avispa Mine SURFACE 0.39 114 179 10000 138 10000
PRSLC-0025 0.6 0.121 362.03 La Avispa Mine SURFACE
PRSLC-0026 0.5 0.266 448.79 La Pamela Mine SURFACE
PRSLC-0027 1.2 0.019 84.90 La Pamela Mine SURFACE
PRSLC-0028 0.8 0.037 204.86 La Pamela Mine SURFACE
PRSLC-0029 0.7 0.013 83.30 La Pamela Mine SURFACE
PRSLC-0032 0.5 0.041 106.21 La Soledad Mine SURFACE
PRSLC-0033 1.1 0.012 75.90 La Soledad Mine SURFACE
PRSLC-0034 1.3 0.012 5.27 La Soledad Mine SURFACE
PRSLC-0088 0.9 0.268 16.60 La Zanja Mine SURFACE
PRSLC-0089 0.8 0.247 17.00 La Zanja Mine SURFACE
PRSLC-0090 0.9 0.015 11.90 La Bomba Mine SURFACE
PRSLC-0091 1.1 0.007 5.30 La Bomba Mine SURFACE
PRSLC-0092 0.9 0.063 12.10 La Bomba Mine SURFACE
PRSLC-0093 0.8 0.1 12.20 La Bomba Mine SURFACE
*Actlabs Mexico S.A. de C.V. ** ALS Chemex Labc, Ltd.
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About Las Coloradas
The Las Coloradas Project (8.5 km2 -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), the U.S. based subsidiary of Grupo Mexico.
Las Coloradas is in the Parral mining district of the 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 receipt of regulatory
approval, are forward -looking statements. Although Kingsmen believes that the expectations reflect ed 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
statements 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,
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uncertainties and other factors identified in Kingsmen’s periodic filings with Canadian securities regulators, and
assumptions made with regard to: Kingsmen’s ability to make the required payments under the definitive
agreements; 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 of 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 and the issuance of
required permits; the need to obtain additional financing to develop properties and uncertainty 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 plus.ca).
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 securities laws. Investors should not place undue reliance on forward-looking statements.