VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 26, 2012) - Kiska Metals Corporation (TSX VENTURE:KSK) ("Kiska" or "the Company") reports the results of the final six holes from phase two 2012 drilling at the Thorn Property have been received from funding partner Brixton Metals Corporation. Brixton is earning a 51% interest in the property by funding exploration expenditures totaling $5 million and by making staged cash and share payments. Kiska estimates that Brixton has less than $1 million in remaining expenditures (subject to final expenditure report) to earn its interest. At Kiska's election, Brixton can earn an additional 14% (totaling 65%) interest by funding a further $10 million in exploration on the property. Brixton is the project operator.
The program was successful in expanding precious and base metal-rich Oban Breccia Zone mineralization at depth and to the south. Mineralization has now been intersected in drilling over an area of 130 metres in a north-south direction, up to 100 metres in width and to a depth of approximately 325 metres. The Oban Breccia Zone remains open at depth to the south. A total of 1,738 metres were drilled in 13 NQ diamond drill holes in the phase two program. The depth of the holes ranged from 45 metres to 338 metres.
Highlights of the final six holes include:
- Confirmation that the Oban Breccia Zone is plunging to the south and open in that direction
- Preliminary indication of increasing copper values with depth with corresponding decrease in lead-zinc values.
"These final holes from the 2012 campaign are important in that they show that mineralization is steeply plunging and open to the south," stated Jason Weber, P.Geo., President and CEO of Kiska. "Combined with the apparent metal zonation from lead-zinc rich to copper rich sulphide mineralization at depth, the Oban Breccia Zone is proving to be a dynamic system that has potential to be larger than the surficial footprint would suggest."
Drill holes THN12-84 and -85 were collared from the same setup as drill hole THN12-83 (azimuth of 170 degrees and a dip of -50 degrees to a depth of 209.7 metres). THN12-84 was drilled at a dip of -63 degrees on the same azimuth as THN12-83. THN12-84 was drilled at -75 degrees, intersecting higher copper grades at depth (from 261 metres) indicating a potential zonation to higher temperature mineralization at depth. To view a cross-section of holes THN12-84 and THN12-85, click on the following link: http://www.kiskametals.com/s/ThornMaps_Photos.asp
Drill holes THN12-81 and -82 were collared 45 metres east of THN12-83, and drilled at an azimuth of 325 degrees with a dip of -60 and -45 degrees, respectively. Both were short holes intersecting breccia-hosted mineralization. The final two holes of the program, THN12-86 and -87, were collared on the northeast margin of the breccia, intersecting sporadic mineralization in Thorn Stock intrusive rocks.
Brixton is planning further drilling at the Oban Breccia Zone in 2013.
To view accompanying Oban Maps, visit the following link: http://media3.marketwire.com/docs/Oban_Maps.pdf
About the Thorn Property
The 189 square kilometre Thorn Property is located 120 kilometres northwest of Telegraph Creek, BC. High sulphidation epithermal vein-hosted high-grade copper-gold-silver mineralization and breccia-hosted high-grade silver and gold mineralization in diorite porphyry intrusive rocks make up the dominant exploration targets on the property.