Exploration drives the company.
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Exploration drives the company.
TSX-V: KNG
OTCQB: KNGRF
___________________________________________________________________________________________________
SOLEDAD NORTH – STRUCTURE CARRIES HIGH GRADE MULTI ELEMENTS
VANCOUVER, BRITISH COLUMBIA – May 06, 2024 (TSXV: KNG), (OTC: KNGRF), Kingsmen
Resources Ltd. (“Kingsmen” or the “Company”) is pleased to report continued high grade multi-element samples
from the north end of the 1.7 km long Soledad structure/vein system on the 100% owned Las Coloradas project,
located in the Central Mexican silver belt, Chihuahua Mexico. The Soledad structure is one of three currently
identified structure/vein systems on the project. Results are presented in Figure 1 and Table 1.
Highlights:
➢ Twenty-eight (28) samples were analyzed.
➢ 2 > 500 g/t silver-equivalent (AgEq)
➢ 1 > 300 g/t AgEq
➢ 1 > 200 g/t AgEq
➢ 3 > 100 g/t AgEq hirty- two (32) samples were analyzed.
Scott Emerson, President commented: “The old workings sampled and reported here are distributed over
approximately 530 meters and approximately ½ mile (1 km) from the old operating Soledad Mine indicating the
mineralization carries entirely along the 1.7KM Soledad structure which was not previously recognized by the
old miners. Work is now continuing on the 2500 met er new NE trending zone / structure identified by the
Company.”
Kingsmen’s sampling of residual mineralization in old workings on the NW -end of the Soledad structure/vein
system identified five areas of high-grade silver/silver equivalent (“AgEq”) mineralization. Three are located on
the main NW-trend and two are located on NE-trending cross structures. The silver values and silver equivalents
overall reflect the silver -lead-zinc composition of the mineralizati on. Sample widths ranged from 0. 4 to 1.3
meters.
The better silver grades are localized in structural intersections and flexures in all rock types. The mineralization
likely continues at depth below the water table which is at a depth of approximately 125 meters. Blind extensions
to all the mineralized structures, as well as new structures, are likely at depth.
The sizes of the old workings suggest the mined mineralization may have been up to several meters in width. The
mineralized structures have not been explored by drilling. There are strong similarities/parallels with the
mineralization in the underground Santa Barbera mine where vein systems vary from 3 to 6.5 km along strike and
the vertical extension of the shoots is up to 900 meters. The Santa Barbera mine is an underground mining
complex belonging to Grupo Mexico, Mexico’s largest mining company.
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The Las Coloradas mineralization is on the southeast flank of a prominent aeromagnetic high interpreted to be a
buried felsic intrusive body. The felsic intrusives associated with the Soledad and other structures are likely linked
to this body and the setting is favourable for porphyry, skarn and epithermal vein mineralization.
Figure 1
[Table 1 on next page]
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Table 1
The silver equivalent calculation utilizes the standard equation and is based on current spot metal prices of silver
$25/oz, gold $2 ,163/oz, copper $4.04/lb, lead $$0.98/lb and zinc $1.16/lb. Recoveries are set at 100% for all
metals for purposes of the silver equivalent calculation as no metallurgical test data is available. AgEq is used for
illustrative purposes only and does not imply that the metals are economically recoverable.
QA/QC Program
The QA/QC program employes blanks and certified reference standard, and check sampling. Samples from
separate areas were analyzed at Actlabs, Zacatecas. Sealed and tagged sample bags were transported to the
laboratory where the entire sample was crushed to a nominal -2 mm, mechanically split to obtain a representative
sub-sample and then pulverized to at least 95% -105 microns (µm).
All samples were analyzed for gold by Fire Assay Fusion -AA finish. All samples were analyzed for silver by
aqua extraction with ICP finish. Multi-element analysis was by four acid extraction with ICP-OES finish.
SAMPLE_ ID Width Au ppm Ag ppm Ag Eq g/t Cu ppm Pb ppm Zn ppm
LC-220623-001 Grab 0.12 81.4 182 247 25600 20000
LC-230623-002 0.4 0.04 23.1 23 15.8 536 127
LC-230623-006 Grab 0.06 432 550 134 46700 37800
LC-070723-006 0.4 0.03 2.27 5 3.7 259 264
PRSLC-0015 0.6 0.013 4 34 123 456 11020
PRSLC-0016 0.8 0.025 64 90 149 3500 10780
PRSLC-0017 1 0.008 1.8 6 38 106 1290
PRSLC-0018 0.8 0.099 45.6 57 53 5830 206
PRSLC-0019 0.9 0.007 5.9 6 16 106 184
PRSLC-0020 0.7 0.05 33.2 42 108 3620 1040
PRSLC-0021 1.2 0.009 7.1 7 20 119 23
PRSLC-0022 1.3 0.006 1.7 2 21 20 38
PRSLC-0023 0.6 0.13 43 52 47 2550 774
PRSLC-0024 0.8 0.048 54.7 65 72 6280 1210
PRSLC-0025 0.6 0.121 362.03 365 141 10000 3880
PRSLC-0026 0.5 0.266 448.79 555 136 10000 68360
PRSLC-0027 1.2 0.019 84.9 86 40 10000 612
PRSLC-0028 0.8 0.037 204.86 206 92 10000 1650
PRSLC-0029 0.7 0.013 83.3 84 107 10000 2210
PRSLC-0032 0.5 0.041 106.21 121 176 10520 3150
PRSLC-0033 1.1 0.012 75.9 114 197 19590 3240
PRSLC-0034 1.3 0.012 5.27 16 89 691 3380
PRSLC-0088 0.9 0.268 16.6 49 130 647 5650
PRSLC-0089 0.8 0.247 17 36 50 648 1120
PRSLC-0090 0.9 0.015 11.9 28 69 2030 4650
PRSLC-0091 1.1 0.007 5.3 15 43 630 3140
PRSLC-0092 0.9 0.063 12.1 23 106 1210 1980
PRSLC-0093 0.8 0.1 12.2 32 66 3680 2710
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About Las Coloradas
The 100% owned 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 Hidalgo de Parral and 40 kilometers east of the San Francisco de Oro and
Santa Barbara 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 head -
quartered 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,
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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 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.