Kaminak
Commences Airborne Geophysical Surveys on Quebec Nickel Properties
January 15, 2008
Vancouver, B.C. - Kaminak Gold Corporation
(KAM: TSXV) has commenced high-definition airborne
geophysical surveys over priority nickel-copper-platinum group element (PGE)
targets in Quebec, Canada. Kaminak intends to survey a total of 4,050 line
kilometres over five separate properties. This program is being funded
solely by Kaminak's joint venture partner Breakwater Resources Ltd. (BWR:TSX).
Aeroquest International Limited will complete the
surveys using their AeroTem II electromagnetic helicopter-borne system. This
high-definition time-domain system is designed to identify conductive bodies,
including nickel sulphide deposits to a depth of 250 metres in electrically
resistive environments. All interesting anomalies will be followed-up by
detailed ground geophysical surveys in the spring of 2008 in order to
prioritize diamond drill targets.
Initial field work on the properties by Kaminak's
technical team in 2007 identified mafic ultramafic rocks exhibiting magmatic
sulphide segregation. A total of 12 grab samples were collected for
geochemical analyses and the program's most significant assay result came
from a surface outcrop sample that yielded anomalous values of nickel,
copper, cobalt as well as PGE's and gold (Sample# CFP-605; 0.53% Ni, 2.84%
Cu, 0.12% Co as well as 0.75 g/t Au, 0.35 g/t Pt and 0.55 g/t Pd). Additionally,
nine of the eleven remaining grab samples each assayed >0.1% Ni and
>0.1% Cu. Collectively, these are important indicators of process and
suggest a favourable environment for the formation of nickel-copper-PGE
deposits.
Kaminak
- Breakwater Agreement
In the
spring of 2007, Kaminak and Breakwater entered into a strategic alliance
targeting primarily nickel-copper-PGE deposits over parts of southern
Quebec. Kaminak's in-house technical team generated several priority
targets which resulted in the staking of five separate properties which
became subject to a joint venture agreement between Kaminak and Breakwater.
As part of this joint venture agreement, Breakwater is funding the first $1 million
of exploration costs in exchange for a 51% interest in the project.
Breakwater can increase its interest to 60% by funding the next $2 million in
exploration across all joint venture blocks (see Kaminak news release dated
September 10th, 2007 for further details of the joint venture agreement).
ALS
Chemex Analytical Technique
A total of
12 grab samples were collected and shipped to ALS Chemex for geochemical
analyses. Rock samples are weighed, dried and finely crushed with a split of
up to 250 g pulverized. The prepared sample is subjected to four acid
digestion (0.4g is digested with nitric, perchloric, and hydrofluoric acids
with hydrochloric acid subsequently added for further digestion. This
solution is analyzed by inductively coupled plasma - atomic emission
spectrometry. Results are corrected for spectral inter element
interferences. QA/QC consists of the insertion of one method blank, two
standards and one duplicate sample. Gold and PGE's were analysed by fire
assay with an ICP-MS finish.
Kaminak's
disclosure of a technical or scientific nature is prepared under the
supervision of Rob Carpenter, Ph. D., P.Geo., Kaminak's President and CEO.
Craig Finnigan Ph. D., P.Geo. is Kaminak's Chief Geologist and is the
Qualified Person under the definition of National Instrument 43-101.
About
Kaminak
Kaminak Gold
Corporation is a prospect generator employing a joint venture strategy that
maximizes opportunities for discovery while attempting to minimize
exploration risk to Kaminak. A critical component of Kaminak's business
model is working with strong project partners to advance Kaminak's
exploration projects. Covering several million acres, Kaminak holds one of
the largest land positions in Canada devoted to metallic mineral exploration.
Kaminak's projects offer world-class exploration potential and present
exposure to strategic commodities including, gold, uranium and nickel.
On behalf of
the Board of Directors
"Rob
Carpenter"
Rob Carpenter, Ph. D., P. Geo.
President and CEO
Kaminak Gold Corporation
For further
information about Kaminak Gold Corporation or this news release, please visit
our website at www.kaminak.com or call us at 604.646.4534.
The TSX
Venture Exchange has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release.
Certain
disclosures in this release, including management's assessment of Kaminak's
plans and projects, constitute forward-looking statements that are subject to
numerous risks, uncertainties and other factors relating to Kaminak's
operation as a mineral exploration company that may cause future results to
differ materially from those expressed or implied in such forward-looking
statements. Readers are cautioned not to place undue reliance on
forward-looking statements. Kaminak expressly disclaims any intention
or obligation to update or revise any forward-looking statements whether as a
result of new information, future events, or otherwise.
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