Vancouver, British Columbia--(Newsfile Corp. - February 4, 2025) - Kingsmen Resources Ltd. (TSXV: KNG) (OTCQB: KNGRF) ("Kingsmen" or the "Company") is pleased to report results from on its continuing exploration program on its 100% owned Las Coloradas project, which is in the Parral mining district of the Central Mexican Silver Belt, Chihuahua Mexico.
President, Scott Emerson, commented: We have now completed exploration over the entire 1.7 km and 1.4 km long Soledad and Soledad II structures with mineralization occurring over the entire strike lengths. This gives us confidence that mineralization continues along strike and at depth of the past producing Las Coloradas mine (300M) and also increases our confidence for our upcoming drill program.
Kingsmen has identified a new target area (DBD) for diamond drilling. This is in addition to the Mine, Aguilar and Leona target areas previously announced. The DBD target covers an area of historic underground artisanal mining between the Mine and Leona zones on the Soledad structure (Figure 1, Figure 2 (enlarged scale) and Table 1). The old underground workings show stopes up to 5 meters wide and 4.0 meters high. Where the mineralized structure rolls and flattens dilatant zones up to 3.0 meters can form. All historic workings have been above the water table (+/- 125 meters). As with all the target areas there has been no drilling to test the mineralization at depth where blind extensions to the mineralized structures, as well as new structures, are likely at depth.
There are strong similarities/parallels with the mineralization in the underground Santa Barbara mine where vein systems vary from 3 to 6.5 km along strike and the vertical extension of the shoots have a vertical extension of up to 900 meters.
The Las Coloradas mineralization is on the southeast flank of a prominent aeromagnetic high interpreted to be a buried felsic intrusive body. The felsic intrusives associated with the Soledad and other structures are likely linked to this body and the setting is favourable for porphyry, skarn and epithermal vein mineralization.
Table 1
Sample
Width (m)
Ag ppm
Au ppm
Cu ppm
Pb ppm
Zn ppm
1
1
201.98
0.205
289
17080
106860
2
0.9
90.28
0.033
38
7050
1920
3
1.1
0.5
0.005
59.6
72
125
4
0.8
82.3
0.021
50.7
10520
20770
5
0.7
19.8
0.014
65.4
2370
10740
6
0.6
2.9
0.0025
51.9
251
1140
7
0.6
80.8
0.126
136
13200
30130
8
0.7
54
0.064
62.9
4980
12230
9
0.6
28.7
0.021
40.8
3430
10070
10
0.7
268.42
0.359
88.7
41180
101060
11
1.2
14.9
0.062
64.1
2010
2850
12
1.2
40.5
0.031
56.3
2550
11670
13
1.3
21.4
0.089
47.7
2070
6510
14
1.2
38.1
0.012
98.1
5520
16600
15
1
33.7
0.0025
93.2
5390
13490
16
1.1
28.5
0.0025
69.5
6000
6460
17
1.3
43.6
0.206
79.1
5910
37810
18
1.1
23.9
0.104
39.6
2670
4250
19
0.9
15.9
0.0025
63.8
2270
1730
20
1.2
48
0.517
33.3
1760
11730
21
0.8
11.4
0.006
59.6
1660
3650
22
1.1
242.87
0.026
156
44410
47880
23
0.7
75.4
0.241
85.4
9001
37290
24
0.9
51.7
0.184
75.8
5760
23240
25
1.2
13
0.032
41.2
1850
3240
26
1.1
93.54
0.079
99
19250
33790
27
0.9
308.16
0.241
213
44790
210440
28
0.8
198.34
0.334
51.8
49840
50720
29
0.9
187.48
0.726
79.3
38630
66110
30
0.8
395.87
0.457
184
45770
35310
31
0.8
41.5
0.139
143
1320
239270
32
0.8
30.8
0.006
39.6
7520
4180
33
0.7
73.2
0.073
99.8
8379
37590
34
0.7
17
0.006
56.8
1850
7020
35
0.5
335.23
0.267
171
33140
106220
36
1.6
41.7
0.007
42.4
7820
5620
37
1.4
25.8
0.032
49.7
3050
11990
38
1.1
6.8
0.016
35.9
874
1990
39
1.4
27.5
0.007
73.6
2550
13690
40
1.1
7.11
0.0025
34.5
1350
1170
41
0.8
168.65
0.453
46.6
30770
16210
All samples were analyzed by ALS Chemex, Chihuahua. All samples were assayed for gold by fire assay with an ICP-AES finish. All samples were also analyzed for 35 elements by aqua regia extraction with ICP-AES finish.
About Las Coloradas
The Las Coloradas Project (8.5 km2 -3.3 sq miles) represents a consolidation of a historic mining district which covers numerous silver-gold-lead-zinc-copper mines previously exploited by ASARCO (American Smelting and Refining Company), the U.S. based subsidiary of Grupo Mexico.
Las Coloradas is in the Parral mining district of the Central Mexican Silver Belt, and is located approximately 30 kilometers southeast of the city of Hidago de Parral and 40 kilometers east of the San Francisco de Oro and Santa Barbara mining districts where several old major mines are located, such as La Prieta, Veta Colorada, Palmilla, Esmeralda, San Francisco del Oro and Santa Barbara. As well, new major mining projects are currently being explored in the district; Cordero (Discovery Silver Corp.), 35 kms north of Parral, and La Cigarra (Kootenay Silver Inc.), 35 kms northwest of Parral. Click here to see locator map, https://www.kingsmenresources.com/area-history
Qualified Person
Kieran Downes, Ph.D., P.Geo., a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical disclosure set out in this news release.
About Kingsmen Resources
Kingsmen Resources is a mineral exploration company focused on advancing its 100% held Las Coloradas Project located in the prolific mining district of Parral Mexico. The project hosts the historic past producing high-grade silver mine, Las Coloradas. It is considered to be prospective for hosting further precious metal deposits, being on the same structural and stratigraphic belts that host numerous other on -trend, high- grade deposits. In addition, the company has a 1% NSR on the Los Ricos North project operated by GoGold Resources Inc. in Mexico. The Company's leaders have extensive experience in the mining and financial sectors. Kingsmen is a publicly-traded company (TSXV: KNG) (OTCQB: KNGRF) and is headquartered in Vancouver, British Columbia.
On behalf of the Board,
Signed: "Scott Emerson" Scott Emerson, President & CEO Phone: 6046859316 Email: se@kingsmenresources.com
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statement:
All statements, trend analysis and other information contained in this press release about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. All statements, other than statements of historical fact, included herein, including, without limitation, statements regarding the completion of the acquisition of the Las Coloradas Project and receipt of regulatory approval, are forward-looking statements. Although Kingsmen believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since Kingsmen can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in Kingsmen's periodic filings with Canadian securities regulators, and assumptions made with regard to: Kingsmen's ability to make the required payments under the definitive agreements; and Kingsmen's ability to secure the necessary regulatory approvals. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Important factors that could cause actual results to differ materially from Kingsmen's expectations include risks associated with the business of Kingsmen; risks related to the satisfaction or waiver of certain conditions to the closing of the acquisition of the Las Coloradas Project; non-completion of the acquisition of the Las Coloradas Project; risks related to exploration and potential development of the Las Coloradas Project; business and economic conditions in the mining industry generally; fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; and other risk factors as detailed from time to time and additional risks identified in Kingsmen's filings with Canadian securities regulators on SEDAR in Canada (available at www.sedarplus.com). Forward-looking statements are based on estimates and opinions of management at the date the statements are made. Kingsmen does not undertake any obligation to update forward looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.
