Kingsman Resources Inc. (TSX VENTURE:KSM) has announced the start of a diamond drill program on their Luxor Molybdenum Project, located 27 kilometers northeast of Barriere, British Columbia. The diamond drill program should begin on or about October 15th. R.J. Beaupre Drilling Ltd. will carry out the drilling.
An initial program of approximately 1000 metres of NQ core is planned with possible expansion to 2000 metres. This drill program will test recently exposed molybdenum bearing altered granitic outcrops discovered during trail construction. Molybdenite was found to occur as fine disseminated grains within the intrusive rocks and importantly within quartz veins with pyrite. Coarse aggregates of molybdenite are seen both as selvages to and within quartz veins. Selected samples of quartz vein material returned up to 2.59% Mo. These exposures occur within a cohesive soil geochemical anomaly measuring approximately 1 kilometre long by 450 metres wide.
In November, 2007, Kingsman undertook a small diamond drill program on the Luxor property. Four short holes were completed. Significant results included 3 metres of 925ppm Mo (.0925% Mo), 6 metres of 420ppm (0.042% Mo) in LX07-0 1.3 metres of 676ppm Mo(0.0676% Mo) and 6 metres of 301ppm Mo (0.0301% Mo) in LX07-02. These holes were drilled approximately 600 meters north of the current planned program.
Recently Kingsman commissioned professional prospectors to investigate the area in and around the newly discovered mineralized road outcrops. Molybdenite-bearing outcrops were discovered over an area of approximately 1.3 kilometres by 0.9 kilometres. 25 rocks samples were collected. Molybdenite was found to occur in quartz veinlets, quartz stockworks, fractures, rosettes and disseminations within altered granitic hosts.
Significant values including 0.278% Mo and 0.258% Mo were obtained from selected samples. Prospecting results confirm and enhance the molybdenite occurrences discovered during trail construction. Exploration evidence at Luxor now points to a mineralizing system that is 2.2km east-west by 1.5km north-south. This is supported by rock geochemistry, biogeochemistry, stream sediment geochemistry, and drilling.
Bernhardt Augsten, P.Geo., a qualified person, has reviewed the technical information in this news release and will be managing the proposed work program.
Source: Kingsman Resources Inc.