www.knick.ca
Knick is engaged in exploring its flagship East-West property, located in the Val-d’Or Mining Camp along strike between the active Kiena mine (Wesdome Mining Ltd., TSX–WDO) and past gold producer Marban mine (Niogold Mining Corp., TSX.V-NOX). Most historical drilling has been limited to “shallow holes”, generally less than 200 m, and the Company is very excited about the property’s “blue sky” potential at mid-depth plus. A $1.1 million budget has been allocated for the 2009 exploration program on the East-West property.
Knick Exploration snaps up Trecesson Gold Property north of Val d'Or, Quebec
Junior gold explorer Knick Exploration (TSXV: KNX) has added to its footprint in Quebec through the acquisition of a 212 hectares of mining claims around 50 kilometers north-west of Val d’Or. The mining claims, collectively known as the Trecesson gold property, where acquired for C$15,000 in cash and 200,00 common shares in Knick.
The property is also subject to a 2% net smelter return, though Knick Exploration can buy back 1% for C$1 million.
“A total of 12 outcrop samples were taken on the property by Knick Exploration during a 2009 visit. The most significant was a grab sample which assayed 109.82g/t gold (metallic sieve), 61.6 g/t silver, 1.41% copper, 9.39% zinc and 0.79% lead,” Knick Exploration reported.
Knick Exploration is also in the midst of a 3000 meter drill program on its Malartic West property in Cadillac Township, Quebec, and announced last week that it had mobilized a geophysics crew to its Ogden gold property in the Timmins Mining Camp, Ontario to undertake electromagnetic and induced polarization surveys over a 65 kilometre zone. The Ogden property is situated only five kilometres east of Lake Shore Gold Corp’s Timmins West gold mine.
The Canadian focused explorer recently raised C$1.7 million through the issue of 1.6 million units priced at 30 cents each and 3.5 million flow-through units priced at 35 cents. Each unit consisted of one non-flow through common share and one-half of a common share purchase warrant with an exercise price of 50 cents.
