May 28 2015
Kapuskasing Gold Corp. reports that it has completed further prospecting and sampling at the Borden North property. A mineralized zone of bedrock gneiss was located and uncovered along an "S" fold feature where the mineralized gossan assayed late last year is located.
Numerous new sulphide occurrences were sampled over several kilometres of strike length along the "S" fold feature. More than 80 samples were taken and assays are pending. An airborne EM survey is planned next to further delineate the zone.
The Company's Borden North Property is located 46 km northeast of the Borden Gold project recently acquired by Goldcorp, in a similar geological setting. Mr. Mike Tremblay, who co-discovered the Borden Gold deposit, is conducting KAP's exploration program.
The exploration team has now mobilized to the Rollo property to follow up on the high-grade gold mineralization identified late last year. Having already acquired geophysical data for this area, this program is focused on expanding and delineating the footprint around each of the three gold occurrences with a view to developing a drill program for this year.
Concurrent to these programs, the Company intends to initiate programs at its Schewabik property located within the Kapuskasing Structural Zone ("KSZ") to the north of Goldcorp's Borden Gold project and KAP's properties to the west and south of the Borden Gold camp.
"With more than half a dozen specific geological targets with similar characteristics to Goldcorp's Borden Deposit, there are numerous opportunities for KAP to be positioned to make the next outstanding gold discovery in the region", said Garry Clark, KAP's Exploration Manager.
The Borden North property is within the Kapuskasing structural zone and the target is gold mineralization similar to the Borden Gold project operated by Goldcorp. Gold mineralization at Borden Gold is associated with disseminated and fracture controlled sulfides within a volcano-metasedimentary package of variable composition. Prospecting last fall identified potential gold bearing horizons that assayed up to 200 ppb gold. Work in the fall was cut short due to the onset of snow.
The Rollo property is situated along a projected extension of the Destor-Porcupine fault zone, which hosts several multi-million-ounce gold producers in the nearby Timmins camp, and sits between IAMGOLD's Cote Lake gold deposit and Goldcorp's Borden Gold project. Prospecting of the Rollo property last fall returned significant gold values that will be followed up this spring (See news release Dec 18th 2014 "Kapuskasing Gold Samples Up To 7.69 g/t Gold At Rollo and Borden North Gold Properties, Ontario").
Source: http://www.kapgold.com/