Last $0.63 USD
Change Today +0.012 / 1.94%
Volume 6.2K
KMKGF On Other Exchanges
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As of 1:11 PM 12/26/14 All times are local (Market data is delayed by at least 15 minutes).

kaminak gold corp-a (KMKGF) Snapshot

Open
$0.64
Previous Close
$0.62
Day High
$0.64
Day Low
$0.63
52 Week High
07/15/14 - $1.11
52 Week Low
11/6/14 - $0.46
Market Cap
77.6M
Average Volume 10 Days
51.3K
EPS TTM
$-0.18
Shares Outstanding
122.8M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
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Current Stock Chart for KAMINAK GOLD CORP-A (KMKGF)

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kaminak gold corp-a (KMKGF) Details

Kaminak Gold Corporation, an exploration stage company, is engaged in the acquisition, exploration, and development of mineral properties in North America. It explores for gold, copper, nickel, platinum, palladium, silver, and potash. The company holds a 100% interest in the Coffee Gold Project covering an area of approximately 600 square kilometers located in Yukon Territory, Canada. It also holds interests in various other properties located in Quebec, Nunavut, Ontario, Yukon, British Columbia, and Michigan, as well as in Northwest Territory. Kaminak Gold Corporation was incorporated in 2005 and is headquartered in Vancouver, Canada.

kaminak gold corp-a (KMKGF) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: C$160.4K
Chief Financial Officer
Total Annual Compensation: C$81.7K
Vice President of Corporate Development
Total Annual Compensation: C$145.0K
Vice President of Exploration
Total Annual Compensation: C$180.0K
Compensation as of Fiscal Year 2013.

kaminak gold corp-a (KMKGF) Key Developments

Kaminak Gold Corporation Changes Fiscal Year End from September 30 to December 31

Kaminak Gold Corporation has determined to change its fiscal year end from September 30 to December 31, effective for the 2014 fiscal year. The company is making this change for operational and administrative efficiency.

Kaminak Gold Corporation Announces Positive Results from Follow Up Drilling at Kona North

Kaminak Gold Corporation announced positive results from follow up drilling at Kona North, a new gold discovery at the development track Coffee Gold Project in the Yukon. The Kona North discovery returned 3.55 grams per tonne gold (g/t Au) over 28m in its first hole and mineralization has now been traced over a minimum strike length of 240m. A total of 1,600m of drilling across 8 additional drill holes were completed as part of a second phase exploration drilling program at Kona North this fall, bringing the total number of holes and metres drilled at Kona North to 10 and 2,000 metres, respectively. All holes intercepted mineralization with estimated true widths of between 5m and 25m. Mineralization appears to be associated with a broadly east-west trending structural corridor that remains open along strike in both directions and to depth. Oxidization is variable, but appears well developed near surface extending to an average depth of 40 metres below surface. Additional drilling is scheduled for Kona North early in 2015 with the aim of delineating a near surface oxide resource for consideration and potential inclusion in the Coffee Feasibility study, now underway. Kaminak recently announced the results from a preliminary economic assessment (PEA) at Coffee demonstrating a robust, high-margin, rapid pay-back, 11-year open pit mining project using a USD 1,250/oz gold price. The Coffee Feasibility study commenced mid-2014 with a targeted completion date of end 2015. Kona North Step-Out Drilling. 3.12g/t Au over 28.95m from 64m downhole (CFR657). 4.85g/t Au over 16m from 118m downhole and 2.90g/t Au over 22m from 163m downhole (CFD435). 6.99g/t Au over 9.14m from 97.54m downhole (CFR654). Exploration Drilling Results: Kona North consists of a 1.5km x 0.5km gold-in-soil anomaly peaking at 1.6g/t Au, which straddles the contact between Permian gneisses and schists (host rocks to Latte-Supremo) and the Cretaceous Coffee Creek Granite. The gold-in-soil anomaly is coincident with topographic and magnetic lineaments interpreted to represent the extensions of the WNW striking Latte and ENE striking Americano structures and a possible third NNW trending structure. The higher tenor gold-in-soils occur at the interpreted intersection zone of the three structures. To date, drilling has extended the bedrock mineralization at Kona North over a strike length of at least 240 metres, and it remains open along strike to the east and west. The gold-in-soil anomaly is slightly offset from the underlying bedrock mineralization due to down-slope colluvial creep. Therefore the earlier drilling, prior to the discovery of Kona North, was located too far north. Additional drilling is planned for early 2015 to test along the full 1.5km gold-in-soil trend. To date, gold mineralization at Kona North is primarily hosted in granite in the hanging-wall to the contact with Permian basement rocks. Mineralization comprises disseminated sulphide and stockwork sulphide veinlets accompanied by strong silicification and clay alteration. Oxide (90-100% oxidized) and Upper Transition (50-90% oxidized) mineralization extends to an average depth of 40 metres below surface, below which mineralization is Lower Transition and Sulphide facies. Drill intercepts to date support a broadly east-west striking, moderate to steeply south dipping mineralized envelope, which exhibits pinch and swell as observed at other gold zones at Coffee. Overall thickening of the mineralized corridor on 579,525E may be due to multiple stacked mineralized structures at the intersection of the Americano and Latte trends, and/or at the intersection of the NW striking structure with the east-west corridor. Follow-up drilling in 2015 will target the near surface Oxide and Upper Transition zones with the objective to extend mineralization along strike and to further test the geometry of the thicker zone of mineralization around 579,525E.

Kaminak Announces Coffee Gold Project Feasibility Program Update Metallurgical Sampling Program Nearing Completion

Kaminak Gold Corp. provided an update on the Company's Feasibility Program now underway at Coffee, the Company's and development-track gold project, located 130km south of Dawson City, Yukon. The feasibility study was initiated in late July 2014 following the announcement of a positive Preliminary Economic Assessment (PEA) and a subsequent $13.5 million private placement financing with Ross Beaty and Zebra Holdings S.à.r.l. Feasibility programs now underway include infill drilling, metallurgical sampling, condemnation sampling and drilling, geotechnical studies, environmental baseline studies and further assessment of the potential all-weather access road to Coffee outlined in the PEA. Programs are progressing according to plan and within budget with all field related activities scheduled to conclude late November, 2014. A total of six drills are presently active on site, and Kaminak is anticipating steady news-flow through to year-end as results from many of these programs, including in-fill and condemnation drilling, are received. The metallurgical sampling program is nearing completion with first column leach results anticipated in early 2015. Planning for the 2015 feasibility field programs is now underway and scheduled to commence in March 2015. The targeted completion date for the final feasibility study remains late 2015 within a total budget of approximately $30 million. Exploration drilling also continues at Kona North; a new gold discovery announced by Kaminak on September 2, 2014 that returned 3.55 g/t Au over 28 m. Kona North is situated proximal to the site of the proposed heap leach facility in the PEA and has the potential to provide additional, near surface, oxide ounces that could positively impact the project economics. Additional results from Kona North are anticipated in the coming weeks. 2014 Infill Drilling Program: Infill drilling is being undertaken across the Coffee deposits with the aim of upgrading Inferred resources to a higher confidence level required in the Indicated category. The location and spacing of drilling has been determined in consultation with independent Qualified Person Robert Sim, P.Geo., of SIM Geological Inc., who completed the Coffee Gold Project NI 43-101 Mineral Resource Estimates (announced December 13, 2012, and updated January 28, 2014). The Company plans to update the mineral resource estimate once all of the drill results from all 2014-15 infill drill programs have been received. To date, infill drilling activities have focused on deposits targeted for years 1-3 of the PEA mine plan, primarily Latte and Double-Double. Kona and some parts of Supremo are also prioritized for the dual purpose of infill and collecting samples for metallurgical test-work. Infill drilling results will be reported by deposit once each program has been completed. Overall, infill drilling completed, thus far, on each deposit has visually demonstrated good correlation with the interpreted geological models and the current resource block model. 2014 Metallurgical Program: Field activities related to the collection of additional metallurgical samples for the purposes of confirming and expanding the characterization of both Oxide and Transitional resources are nearing completion. The location and composition of metallurgical sampling have been determined in consultation with Mr. Fred Lightner, P.E., Kaminak's Director of Mine Development. Approximately 1,400 metres of metallurgical core drilling together with the collection of bulk samples from six surface trenches has now been completed. Dedicated metallurgical bore holes are oriented to drill down dip on the mineralized structures in order to acquire a maximum amount of the mineralized sample. The down dip orientation of the bore holes is such that downhole widths do not reflect the width of the mineralization, nor should the results be considered representative of grade distribution within each zone. The drill results, tabulated in Table 1 below, are reported for the purpose of comprehensive disclosure, but do not necessarily have any bearing on the continuity or grade characteristics of the deposit and may not be used in the future estimation of resources. Heap leach column testing of representative samples collected from both drilling and trenching, at variable crush sizes, will be undertaken at Kappes Cassiday and Associates, with first results anticipated in First Quarter of 2015.

 

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