Kaminak Gold Corporation is a successful Canadian mineral exploration project generator and is currently focused on developing its flagship Coffee Gold Project in the Yukon Territory, Canada. Kaminak is seeking new joint ventures and other expressions of interest to acquire equity in its extensive and diverse non-Yukon portfolio throughout Canada.
The Matrix property is a drill ready gold project located 320km southwest of Rankin Inlet, Nunavut.
Kaminak owns 100% of the 156 square kilometer Matrix Gold Property located in the Kivalliq region of Nunavut Territory. Matrix is prospective for multi-million ounce paleoplacer gold deposits similar in style to the giant Witwatersrand Basin of South Africa (>1 billion ounces gold present and past production).
Paleoplacer Gold Model
The Witwatersrand Basin of South Africa accounts for approx. 40% of historic global gold production. Despite this fact, the paleoplacer model of gold mineralization remains a rare and elusive style. The Witwatersrand reef extends over 280km at an average grade of 9.2g/t Au, and has been mined to depths of 4km (the deepest in the world).
The Matrix Project represents a unique analogue to the prolific Witwatersrand.
Matrix Geological Map
The Matrix Gold Property is underlain by Paleoproterozoic metasedimentray rocks of the Hurwitz Group and Montgomery Group. Both sequences contain multiple units of auriferous quartz-pyrite pebble conglomerates and carbon bearing conglomerates which display continuity across the basin and generally occur at the base of unconformities. There exists a broad association of Au with Co, Ni and As, similar to other paleoplacer occurrences.
Grab rock chip and channel samples include 10.2g/t Au, 7.5g/t Au, 7.4g/t Au and 7.1g/t Au in pyritic ± jasper quartz pebble conglomerate. Of a total of 1200 rock chip samples collected previously across the region, 111 returned 1g/t Au or better.
Historical expenditures on the property exceed CAD$2.7 million. No work has been completed since 2006 as Kaminak has been 100% focused on its flagship 4.1Moz Coffee Gold Project in the Yukon.
Kaminak is seeking a project partner for the Matrix Gold Project to undertake follow-up drilling on the property. The limited historic drilling was clustered over a small portion of the property and failed to comprehensively test the prospective horizons. The surface sampling and limited drill results confirm the conglomerates are host to high grade gold mineralization thereby warranting a more comprehensive drill program which tests systematically along strike within the prospective conglomerate units. Detailed structural basin analysis would provide important information on the continuity and depth potential of the prospective horizons.
Rock Chip Sampling
Matrix Regional Airmag
The property comprises 15 100% owned claims totaling 155.8km2. The claims are in good standing, with expiry date of Sept 11, 2014, and annual expenditure commitment of $70,500.
A GIS database and reports library is available on signing of a confidentiality agreement. As part of a joint venture agreement, Kaminak can assist with field operations or act as operator if desired. Kaminak’s highly successful geological team recently discovered and delineated the multi-million ounce, Coffee Gold Project in the White Gold District, Yukon Territory.
For more information contact:
Tim Smith P.Geo.
Vice President Exploration
Vice President Corporate Development
Kaminak Gold Corporation (KAM: TSX-V)
1020 – 800 West Pender Street
Vancouver BC, V6C 2T6, Canada