Kent Exploration Files Alexander Gold Mine NI-43-1
Post# of 617763
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 13, 2013) - Kent Exploration Inc. (TSX VENTURE:KEX) (OTCBB:KXPLF), (the "Company" or "Kent") reports that it has filed a National Instrument NI-43-101-Compliant Report on its Alexander Gold Mine property, located in New Zealand's west coast historic Reefton Goldfield where over 2 million ounces of hard rock gold and more than 8 million ounces of placer gold were reportedly produced since the late 1800's. Open-pit gold mining operations currently continue at the Oceana Gold's Globe Progress deposit which lies 16 km NNW of Kent's Alexander Mine property.
Gold-bearing quartz float was discovered in the Alexander River in 1920 and this led to the development of the Alexander Gold Mine in what became the 8th largest and last developed operation in the Reefton Goldfield.
The Alexander Gold Mine consists of a group of underground workings, from which 41,089 oz of gold was reportedly produced from 48,492 tons of quartz between 1923 and 1943 (Christie et al., 2006 and references therein). However, the reader is cautioned that this historic production data is not NI 43-101 compliant and cannot be verified.
The report identifies the Alexander property to have a good potential for hosting an open-pit or underground economic gold mine but it is under-explored and under-drilled. From drilling to date, a new model for structural control of gold mineralization has been developed that will provide guidance for further drilling.
The Report recommends drilling the identified strong chargeability IP anomalies, test drilling the down-plunge continuation of the McKay, Loftus and Mullocky quartz zones, as well as exploring a new gold zone postulated to lie northwest of, and parallel, to the main gold trend
The Independent Report was conducted for the Company under the direction of Dr. G.E. Ray, a Qualified Person as recognized by NI-43-101. The Report can be viewed on SEDAR.
Work on Alexander River is currently ongoing under the direction of Dr. Clay Conway, P. Geol a Director of the Company, and a qualified person as recognized by NI-43-101.
Kent Exploration Inc. is a junior exploration company with a 100% interest in all its major projects, and is planning on building shareholder value through establishing cash flow from its permitted Flagstaff Mountain, WA, barite mine. Any positive cash flow is intended to reduce dilution and fund exploration on its three major high grade gold prospects (Alexander River, Paparoa and Lyell), in the highly prolific West Coast South Island gold fields of New Zealand. Additional shareholder value has been established through its approximately 15% interest in Archean Star Resources Inc, ("Archean") which is listed on the TSX Venture Exchange under the symbol ASP.
The Company has an experienced management and technical team with extensive exploration expertise and offers investors the potential for a major gold discovery on its New Zealand gold projects.
This News Release has been prepared on behalf of the Kent Exploration Inc. Board of Directors, which accepts full responsibility for its contents. The contents of this news release has been reviewed and approved by Dr. Clay Conway, P. Geol., a Qualified Person as recognized by National Instrument NI-43-101 and a director of the Company and Dr. G.E. Ray, a Qualified Person as recognized by National Instrument NI-43-101 and the independent author of the report.
ON BEHALF OF THE BOARD
Graeme O'Neill, President
Neither the TSX Venture Exchange, nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), has reviewed, nor do they accept responsibility for, the adequacy or accuracy of this news release.
(0)
(0)