Exploration drives the company.
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Exploration drives the company.
TSX-V: KNG
OTCQB: KNGRF
LA PLATA & SILVIA ZONES – HIGH GRADE ANALYSES
VANCOUVER, BRITISH COLUMBIA –October 7, 2024 (TSXV: KNG), (OTC: KNGRF), Kingsmen Resources Ltd.
(“Kingsmen” or the “Company”) is pleased to report high-grade multi-element analyses from the 2.5 km long Silvia – La
Plata (SLP) trend on the 100% owned Las Coloradas project, is in the Parral mining district of the Central Mexican Silver
Belt, Chihuahua Mexico. The trend as currently recognized, comprises two areas referred to as the Silvia Trend and La Plata
Zone. Results are presented in Figure 1 and Table 1.
Highlights
• Seventy-two samples were analyzed.
• 1 > 500 g/t silver-equivalent (AgEq)
• 6 > 200 g/t AgEq
• 6 > 100 g/t AgEq
• 6 > 0.54 g/t gold
The Silvia zone is located at the intersection of the NE-oriented Silvia – La Plata (SLP) trend and the NW-oriented
Soledad/Soledad II structures/vein systems. The La Plata zone contains numerous high-grade AgEq samples and NE, NW and
N-trending structures/veins are recognized. N-trending structures/vein systems are unusual in the project area. Of immediate
interest is a broadly N-trending intrusive body with AgEq values ranging from 8 to 303g/t AgEq (Figure 1). The curvilinear
aspect of this and nearby intrusives may be reflecting a buried quartz porphyry (QP) intruding the volcanic country rock that
is generating the mineralization.
The La Plata and Silvia zones contain pathfinder element concentrations in variable combinations including Au, As, Sb, Pb,
Zn, Cu, Hg, Mo, Te and Tl. The different combinations of pathfinder elements likely represent different stages or pulses of
mineralization. Their distributions provide evidence for district-wide, structurally controlled mineralization.
The Las Coloradas project area is situated on the southeast flank of a prominent aeromagnetic high interpreted to be a buried
felsic intrusive body. The felsic intrusives associated with the La Plata and Silvia zones, the Soledad and Soledad II structures
and other structures are likely linked to this body. The setting is favourable for porphyry, skarn and epithermal vein
mineralization.
Scott Emerson, President commented: “The presence of high-grade samples hosted in intrusive, volcanic and sedimentary
rocks of the La Plata – Silvia zones confirm these are highly prospective area and targets for further exploration to identify
drill targets.
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Figure 1
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Table 1
Sample # Width (m) Ag ppm Ag Eq g/t Au ppm Cu ppm Pb ppm Zn ppm
1 Grab 129 192 0.54 204 17350 4310
2 Grab 182 459 1.01 445 47000 53500
3 0.4 1.62 3 0 10.2 341 304
4 Grab 240 337 0.12 43.8 36800 21700
5 Grab 156 333 1.77 24 37300 1545
6 0.6 30.2 42 0.22 35.9 350 589
7 0.3 3.61 31 0.39 5 101.5 196
8 0.5 0.29 5 0.07 1.4 20.7 8
9 1 8.93 14 0.09 7.5 149 47
10 0.7 0.68 6 0.08 2 22.3 16
11 1 0.85 3 0.03 1.8 14.4 18
12 0.3 0.55 6 0.08 1.6 8.1 12
13 0.5 1.84 11 0.13 2.5 16.2 21
14 0.5 5.7 68 0.9 8.8 33.6 171
15 1 2.95 19 0.23 4.9 12.6 23
16 0.3 1.79 3 0.02 2.4 18.2 26
17 0.3 86.4 96 0.38 18.8 41.3 88
18 Grab 70.8 202 0.26 142.5 34600 20000
19 Grab 12.35 22 0.05 89.4 2060 1455
20 0.2 23.1 23 0.04 15.8 536 127
21 0.5 1.07 3 0.03 5.7 118 51
22 Grab 6.17 21 0.22 10.6 284 93
23 0.3 1.56 2 0 3.8 138.5 42
24 Grab 432 550 0.06 134 46700 37800
25 0.15 1.44 2 0 3.8 77.6 56
26 0.1 1.02 2 0 53.9 110.5 264
27 0.15 2.83 8 0 60 309 1810
28 0.15 3.6 7 0.05 9 86.6 117
29 0.1 13.3 15 0.04 8.4 661 67
30 0.15 20.4 28 0.1 26.4 1645 215
31 0.1 7.18 7 0 16.6 350 63
32 0.2 5.38 9 0.06 8.4 92.4 136
33 0.2 1.41 25 0.33 10.2 138.5 39
34 Grab 161 161 0.23 230 974 1430
35 0.6 24.4 26 0 36.3 2380 272
36 0.5 7.82 20 0.13 18.6 1905 130
37 0.6 1.8 3 0.02 5 38.2 58
38 0.4 0.4 4 0.05 3.8 21.2 77
39 0.3 1.1 2 0 5.6 504 97
40 Grab 5.87 7 0.02 4.4 391 43
41 0.3 1.02 2 0 9.2 259 43
42 0.5 58.9 59 0.02 54.4 1760 220
43 0.1 11 26 0.19 46.7 1355 125
44 0.1 0.55 6 0.07 14.8 127.5 128
45 Grab 51.2 55 0.12 112 2140 82
46 0.1 28.4 30 0 41 243 46
47 Grab 85.8 176 0.71 20.4 24600 1745
48 0.1 25.4 77 0.54 43.2 7800 630
49 0.5 182 183 0.27 294 851 464
50 0.3 43.3 43 0.03 87.2 2360 165
51 Grab 46.2 44 0.07 19.2 641 59
52 2 1.3 10 0.12 2.8 27.6 77
53 1 9.71 16 0.1 7.4 319 208
54 Grab 9.85 16 0.11 15.2 43.1 103
55 Grab 135 303 0.15 223 80100 3400
56 Grab 58.7 167 0.25 68.1 15300 26900
57 Grab 31.2 43 0.02 17.8 5330 1820
58 4 1.94 7 0.02 8.1 1355 604
59 0.15 42.5 55 0.07 152 4370 1880
60 0.8 6.37 13 0.03 92.1 1020 911
61 0.15 18.85 23 0.03 197.5 1430 299
62 Grab 97.3 175 0.11 82.8 38700 1750
63 0.1 0.75 3 0.02 5.6 181 49
64 Grab 153 296 0.09 157.5 72900 3030
65 Grab 3.16 9 0 6.1 2590 319
66 2 19.9 30 0.11 53.4 1330 994
67 0.2 14.95 20 0.09 19.8 415 124
68 Grab 4.48 11 0.02 23.7 2090 332
69 Grab 4.05 8 0 21 1600 396
70 Grab 7.09 20 0 36.9 6160 422
71 Grab 2.16 3 0 59.1 96.3 100
72 0.3 0.38 1 0 3.9 23.5 119
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The silver equivalent calculation utilizes the standard equation and is based on current spot metal prices of silver $25/oz, gold
$2163/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
All samples were analyzed by ALS Global in Chihuahua, Mexico, an ISO/IEC 17025:2017 and ISO 9001:2015 certified
laboratory. Multi-element analysis was by ICP-MS (51 elements). Over grade Ag, Au, Pb and Zn were assayed. All samples
were analyzed for gold by Fire Assay Fusion-AA finish.
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 operating 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 La Trini claim which forms part of the Los Ricos North project
operated by GoGold Resources Inc in Jalisco state, Mexico. 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:
6046859316
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
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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 secu rities
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 a nd 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.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.