- KGS preparing new drilling campaign at Mohave County that includes historic Rosebud Mine
- Historical report based on underground mapping, drilling, sampling reveals hidden potential in Rosebud Mine
- KGS commissioned Burgex Inc. for new NI 43-101 technical report in preparation for drilling
With gold currently topping the list of “safe-haven” investment assets, Kingman Minerals (TSX.V: KGS), a Canadian-based mining company engaged in the acquisition, exploration and development of gold and silver properties in North America, is positioned to profit through a new drill campaign in Mohave County, Arizona. Located in the Music Mountains region, the Mohave Project is comprised of 20 lode claims that include the historic past-producing Rosebud Mine, allowing the company to benefit from the cost efficiencies of revitalizing an already established exploration site.
The popularity of gold as an investment is increasing due to the instability of government-controlled central banks resulting from recent economic events connected to COVID-19. Fears driven by economic uncertainty typically prompt investors to divert assets into gold as a defensive measure against inflation, currency devaluation and the falling value of less tangible assets. KGS is leveraging these challenging economic conditions by implementing a strategy based on returning to historic gold mining sites and extracting the remaining wealth using new technologies.
Forming part of KGS’s Mohave Project, the historic 167-hectare Rosebud Mine was originally discovered as part of the “Gold Rush” era in the 1880s and was mined extensively until the 1930s. While the most accessible resources have already been extracted, modern mining techniques enable the extraction of difficult lodes safely and cost-effectively, giving KGS the ability to tap into the new wealth left behind by previous mining generations.
Renewed interest in the Rosebud site by KGS is primarily driven by underground mapping, drilling and sampling of the area conducted between 1984 and 1986 by L.A. Bayrock Ph.D. P.Geo. on behalf of Stellar Resource Corporation (http://nnw.fm/4lFpW). The proposed drilling site includes eight separate veins and one prominent double vein which extends from the northwest corner to nearly the southeast corner of the claims block. Written prior to NI 43-101 regulations, the results are not NI 43-101 compliant and require additional underground sampling for verification. KGS has started the process of preparing an NI 43-101-compliant technical report on its Mohave County assets by commissioning the services of Burgex Inc. (http://nnw.fm/IiC7x), a mining consulting services company specializing in the analysis of abandoned mine sites throughout the western United States.
Formerly known as Astorius Resources Ltd., KGS is engaged in the acquisition, exploration and development of gold and silver properties in North America. Based in Canada, the company is focused on sourcing and developing high-quality properties with significant mining potential as part of its strategy of developing a diverse portfolio of low-cost, lifelong assets.
For more information, visit the company’s website at www.KingmanMinerals.com.
NOTE TO INVESTORS: The latest news and updates relating to KGS are available in the company’s newsroom at http://nnw.fm/KGS
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