Kent Exploration (TSXV:KEX) Reports a 43 Metre Graphite Bearing Zone at Alexander River Project in New Zealand - Video Summary Posted on www.InvestmentPitch.com
(Thomson Reuters ONE) -
Vancouver, British Columbia, April 19, 2012 - Kent Exploration (TSXV:KEX) has
reported a 43 metre graphite bearing zone at its Alexander River project, which
is located in the Reefton goldfield on the South Island of New Zealand.
InvestmentPitch.com has produced a "video news alert" which provides a brief
summary of this news. If this link is not enabled, please visit
www.InvestmentPitch.com and enter "Kent" in the search box.
Graphite was reported in four diamond drill holes over a strike length of
approximately 1 kilometre. Graphite was present in drill hole AX002, over 34
metres starting at the 107 metre level, and in drill hole AX005, over 43 metres,
starting at 97 metre level. In hole AX003, graphite was present intermittently
over 37 metres starting at the 173 metre level, and hole AX009 encountered
graphite intermittently over 16 metres starting at the 128 metre level, and
again for 11 metres starting at the 206 metre level.
The company reported that the graphite was of a soft silvery-grey nature and was
present as graphitic schist in carbonaceous parts of a greywacke sequence, and
as associated small veins along minor faults.
Kent's diamond drill program was following up on an induced polarization (IP)
survey from earlier 2010 and 2011 work programs. An IP survey is capable of
detecting even small amounts of metallic luster minerals in a rock mass. The
company believes some of the IP anomalism is likely attributable to the
graphite.
These drill holes tested only the moderately anomalous zones, and the company
expects the strong anomalous IP zones below and parallel to the historic gold
works have the potential to contain more concentrated graphite.
Worldwide there is a strong association between metalliferous deposits and
graphitic occurrences, with graphite acting as a reducing agent causing
precipitation of the gold. The gold is commonly found in quartz veins where they
cross cut the graphitic zones.
Depending on the quality, graphite can be economic with grades as low as 2 to
3%, and due to its short supply, the European Union and the United States have
both named graphite a supply critical mineral. Although there is a posted price
for graphite, most transactions are based on direct negotiations between a buyer
and a seller. A supply squeeze is now being felt, depicted in the new prices of
flake graphite which have risen dramatically over the last year.
Kent's President & CEO, Graeme O'Neill stated, "During our gold exploration
programs, we continue to discover industrial minerals on our gold projects. Our
barite project, and now our bentonite project, both bring us the potential to
establish near term cash flow. Any positive cash flow will allow us to reduce
future dilution and fund our gold exploration with its attendant upside."
Kent has three gold projects in New Zealand, all located in the highly prolific
gold fields area, where historically, more than 2 million ounces of hard rock
gold along with more than 8 million ounces of placer gold have been mined along
the West Coast of the South Island.
The total strike length of the mineralized zone at Alexander River is
approximately 2.5 kilometres, with recent drilling identifying an additional
gold bearing zone parallel to, and approximately 300 feet to the north of, the
main Alexander River gold bearing zone. The company's 26 Alexander River project
covers 26 square kilometres, in an area that showed historical production of
41,000 ounces of gold from 49,000 tons of ore. This works out to roughly 0.83
ounces of gold per tonne.
To the west of their Alexander River project, on their 178 square kilometre
Paparoa Gold prospect, approximately 250,000 ounces of alluvial gold were
reportedly historically produced from the Moonlight Creek watershed in the
centre of the project. This included 2 of the largest gold nuggets ever
recovered in New Zealand, the largest being 87.5 ounces, which would be worth
approximately $140,000 at today's price. The company plans to extend its current
prospecting program at Paparoa during 2012, to further identify additional
hardrock sources of the alluvial gold.
The company's third, and largest property, is the 261 square kilometre Lyell
Gold project, which lies approximately 40 kilometres northeast of Westport. This
area, considered to be the northern extension of the Reefton Gold Field, is
substantially under explored, despite the presence of numerous small historic
gold mines in the area.
During 2011, Kent spun off its Australian gold project into Archean Star, which
was listed separately on the TSX Venture Exchange under the symbol ASP. Kent
retained approximately 10 million shares or 22% of Archean.
Kent Exploration is currently trading at $0.045.
For a more information on Kent's many projects, including the barite property in
Washington and the bentonite property in Nevada, please visit their website
www.kent-exploration.com, phone 604-684-3394 or email company(at)kent-
exploration.com.
InvestmentPitch.com is a multimedia company that provides a combined solution
for creating and hosting financial video content, and distributing it across
multiple platforms to investors and financial professionals. InvestmentPitch.com
specializes in producing short three minute videos based on news releases and
research reports.
CONTACT:
InvestmentPitch.com
Barry Morgan, CFO
604-684-5524
bmorgan(at)investmentpitch.com
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Source: InvestmentPitch via Thomson Reuters ONE
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Datum: 19.04.2012 - 10:26 Uhr
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