Exploration drives the company.
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Exploration drives the company.
TSX-V: KNG
OTCQB: KNGRF
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LAS COLORADAS PROJECT - OLD MINE WORKINGS TRACED
VANCOUVER, BRITISH COLUMBIA – February 1, 2024 (TSXV: KNG), (OTC: KNGRF),
Kingsmen Resources Ltd. (“Kingsmen” or the “Company”) is pleased to update progress on the Las
Coloradas project, located 30km from Hildago de Parral, Chihuahua, Mexico. Portions of the Soledad
structure were mined by ASARCO (American Smelting and Refining Company), the U.S. based
subsidiary of Grupo Mexico in the period 1944 to 1952.
Kingsmen has relocated the extent of the old ASARCO workings (1943 to 1952) on the 1.7 km long
Solidad vein system (Figure 1). The workings are located on the southern end of the Solidad vein system
and were confined to the area shown on Figure 1. The workings extend in excess of 250 meters along
strike and to a vertical depth of approximately 125 meters on four levels. The workings did not extend
below the water table. All production was shipped to ASARCO’s mining facilities at Parral where
ASARCO was operating the La Prieta, Veta Colorada, Palmilla and Santa Bárbara mines. Average
mining diluted grades are reported to have been in the order of 0.6 to 0.8 g/t gold, 300 to 518 g/t silver,
6.2 to 10.9 % lead and 6.5 to 10.3 % zinc, from four different veins, called La Soledad, Santo Niño, Eva
and Rosario.
Kingsmen’s sampling of residual mineralization in the old workings (where accessible) confirmed the
presence of high -grade silver which likely continues at depth below the water table (Figure 1). In
addition, significant silver mineralization exists along the 1.7 km Soledad vein system, and along the
approximately 1.0 km Soledad II vein system as indicated by Kingsmen’s sampling,
Scott Emerson, President, commented: “All of the work we have conducted and are continuing to do at
Las Coloradas, whether new sampling, mapping and analysis of the historic workings, all indicate that
the extent of mineralization is far greater than the footprint of the historical resource.”
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Figure 1
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.
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.
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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
(TSXV: KNG; OTCQB: KNGRF) 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 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 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, 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
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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.sedarplus.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.