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Kermode Resources Ltd. — Capital/Financing Update 2024
Mar 16, 2024
42496_rns_2024-03-15_9ed71135-53d4-49a2-acd8-4019155d16fa.pdf
Capital/Financing Update
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Kermode Reports Results from SANTA ANNA
Victoria, British Columbia - (March 13, 2024) - Kermode Resources Ltd. (TSXV: KLM) ("Kermode" or the "Company") reports assays for grab samples from the SANTA ANNA project. Justin Deveault and Justin McNutt from 911 Exploration Corp. collected all samples on November 17 and 18, 2023, and the results were received on March 11, 2024.
| 2024. | |
|---|---|
| Sample No. | Copper(% Cu) |
| K487067 | 1.31 |
| K487070 | 14.25 |
| K487071 | 0 |
| K487074 | 8.81 |
| K487075 | 1.79 |
| K487077 | 5.68 |
| K487078 | 4.84 |
| K487079 | 2.94 |
| K487081 | 4.17 |
| K487083 | 6.72 |
Additional information is available on the on the SANTA ANNA project data room at this link: https://drive.google.com/drive/folders/15OWasoe6ps_x1SfdNzth773M2p04_GyI
Additional information regarding this news release, including the assay lab report, is available online at this link: https://drive.google.com/drive/folders/16dFM6iP8oYh2HUeKltSw6Gxmei25tEqC
Links to videos showing the prospecting for these samples are provided below.
| Video Title | Field Work video link | ||
|---|---|---|---|
| “Copper, Silver & Gold BearingSkarn That Runs Through AMountain!” | https://www.youtube.com/watch?v=Ym4e7AcW78M&list=PLIk-jfYt7 | ||
| POhQYQZrYqTQwbONYCCYAfZb | |||
| “Exposing A Large CopperSkarn Lense!” | https://www.youtube.com/watch?v=aUSDDSKWqh0&list=PLIk-jfYt7 | ||
| POhQYQZrYqTQwbONYCCYAfZb | |||
| “We Found A Large KilometerLong Magnetite Zone!” | https://www.youtube.com/watch?v=25fiYNNrAA4&list=PLIk-jfYt7PO | ||
| hQYQZrYqTQwbONYCCYAfZb |
Further information about all rock samples is provided below.
Rock Sample Details for Samples from SANTA ANNA
| Rock Sample Details for Samples from SANTA ANNA | Rock Sample Details for Samples from SANTA ANNA | Rock Sample Details for Samples from SANTA ANNA | Rock Sample Details for Samples from SANTA ANNA | Rock Sample Details for Samples from SANTA ANNA |
|---|---|---|---|---|
| ID | EASTING(ZONE 10N) | NORTHING(ZONE 10) | SampleType | Details |
| K487067 | 345741 | 5562289 | Grab(Float) | Limestone and quartz diorite found in a 1.5m x 1.5m x 6mtrench. No mineralization seen in areas exposed but loosesamples at bottom had up to 15% sulphides. Trench issloughed in and rooted. |
| K487070 | 345719 | 5562271 | Grab(Float) | Grab from a piece of limestone material inside the trenchwhich had massive chalcopyrite and pyrite with 60% totalsulphides. Little other mineralization seen as trench hasovergrown and is incompletely exposed. Limestone andquartz diorite found in a 1m x 1m x 8m trench. |
| K487071 | 345521 | 5562616 | Grab(Random) | Sample of non-mineralizedgranitic host rock. Sample blank. |
| K487074 | 345712 | 5561982 | Grab(Select) | Select grab off of a well mineralized boulder , roughly 30Kg insize,in stockpile below number #1 mine adit. |
| K487075 | 345740 | 5561966 | Grab(Select) | Grab of disseminated sulphides in the outcrop besideprospector hole 20m away. Sample of quartz, skarn, andlimestone with chalcopyrite at 12-15%. |
| K487077 | 345733 | 5562183 | Grab(Float) | Survey Pin # 864519 Entrance of a cave survey pin from1997.Cave is actually a short adit following gneiss andlimestone contact. A 1m x1m pit connects to the cave/adit10m behind. Loose rock at entrance with 25% chalcopyritefound on floor,several rustyareas but could not safelyenter. |
| K487078 | 345755 | 5562139 | Grab(Select) | 4m tall vertical outcrop with a flat area below. The flat area is3m wide by 40m long and has a moss-covered outcrop abovefor 4m tall. Quartz and gneiss seen all over outcrop with areason the floor jutting out that contain disseminated tosemi-massive chalcopyrite and minor pyrite. Sample contains20% chalcopyrite and 5% pyrite. Sample taken from an areawere sulphides exposed over 4m before going underoverburden. Most mineralized rock is black color. |
| K487079 | 345751 | 5562046 | Grab(Float) | Sloughed open cut with loose malachite stained samples allover under moss. Bedrock exposed in a 5m wide area andquartz with patches of chalcopyrite and pyrite up to 5cm seen.Gneiss seen which is mineralized. A sample of black rock,gneiss and quartz contained 15% chalcopyrite and 5% pyrite.The open cut is 6m wide. |
| K487081 | 345732 | 5562149 | Grab(Float) | Collapsed Adit - Adit #3 has a small opening from beingsloughed in and you can access only 3m of adit. Sampletaken from adit floor inside. Small covered dump materialbeside and above shows sulphides up to 15%. in skarn,gneiss and some quartz. 3m behind the adit, it appears tohave collapsed. Sample had 20% chalcopyrite disseminated. |
| K487083 | 345715 | 5562074 | Grab(Select) | Adit #2. Sample taken from the inside of the adit at the firstmineralized area. Sample contains semi-massivechalcopyrite, pyrite and pyrrhotite on the right side of the aditover 10-12m+ widths to showing. Did not venture further dueto flooding. 30% Chalcopyrite,5%pyrite and 5%pyrrhotite. |
Picture of sample K487070 (14.25% Copper):
==> picture [389 x 292] intentionally omitted <==
Picture of sample K487074 (8.81% Copper):
==> picture [389 x 293] intentionally omitted <==
Qualified Person
The technical information in this news release has been reviewed and approved by Mr. Jacques Houle, P. Eng, a Qualified Person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.
QA/QC Statement
The most recent work conducted on the subject property by the Company utilized commercial laboratories for all geochemical analyses and was conducted using industry-standard chain of custody procedures with all samples. Due to the preliminary nature of the field geochemistry programs, no blind analytical blanks and standards were utilized by the Company; and only the internal procedures employed by the commercial laboratories were utilized for QA/QC protocols. The Qualified Person is satisfied these procedures are sufficient for the current status of the subject property.
About Kermode
Kermode is a junior mining company hunting for exploration opportunities around the world.
On Behalf of the Board of Directors, KERMODE RESOURCES LTD
"Peter Bell" President/CEO
For further information please contact:
Tel: 1-250-588-6939 Email: [email protected] Website: https://linktr.ee/kermoderesources
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains statements that constitute "forward-looking statements" within the meaning of applicable Canadian and United States securities legislation. Such forward-looking statements involve risks that may cause Kermode actual results to differ materially from anticipated results. Forward-looking statements in this document include results, analyses and interpretations of our exploration programs, geological and mineralization interpretations and the plans, results, costs, and timing thereof. Although Kermode believes the forward-looking information contained in this news release is reasonably based, forward-looking statements involve uncertainty. The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date.