Flag of the Yukon (Photo credit: Wikipedia)
Kaminak Gold* (KAM : TSX-V : $1.99) Volume: 724,950
Shares of this Yukon-focused gold explorer have been moving higher over the past couple days, despite
the sell-off in the broader markets.
The leader in the second-coming of the Yukon gold rush, Kaminak should see its shares start to move first when investor interest comes back into the area. Recently, Kaminak announced a new gold discovery at its Coffee Gold Project, Yukon Territory. These first set of results from the 2012 drill program, 14 Reverse Circulation (RC) drill holes, came up with another gold discovery at the Supremo Zone. Results from the T4 and T5 Zones included; 3.6 g/t Au over 32 m; 2.1 g/t Au over 36.6 m; 2.1 g/t Au over 21.3 m and 2.4 g/t Au over 18.3 m.
Management highlighted that the new results continue to define near surface and well oxidized gold zones in close proximity to known
mineralized zones at Supremo-Latte-Double Double. Going forward, the RC drilling program is ongoing at T4-5, and in
addition two diamond core drills are now drilling on the T3 trend. Drill programs are designed to connect known gold zones
along trend and discover near-surface gold mineralization building towards the maiden NI 43-101 mineral resource estimate
expected early 2013. A third diamond drill, bringing the total to four drills on the property, is scheduled to commence drilling in
early May at Double Double, and from early June will undertake the first ever drill program at Sugar.
Kaminak’s President and CEO, Robert Carpenter, purchased 10,000 shares of the company on April 24 for $1.74-1.75 per share.
