Kimberly Gold Mines Leases Empire Creek Project.Business Editors COEUR D'ALENE Coeur d'Alene, city, United States Coeur d'Alene (kûrdəlān`), city (1990 pop. 24,563), seat of Kootenai co., N Idaho, near the Wash. line; inc. 1907. , Idaho--(BUSINESS WIRE)--July 1, 2003 Kimberly Gold Mines (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :KMGM) is pleased to announce that it has secured a lease, with option to purchase, on the Empire Creek Project on the Republic Graben of northeastern Washington. The grabens of northeastern Washington contain some of the highest-grade, bulk-tonnage gold deposits in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . The Republic Graben is home to several such deposits, including the Republic Mine and the Kettle River Ket·tle River A river, about 257 km (160 mi) long, of southern British Columbia, Canada, and northeast Washington flowing generally southward to the Columbia River. Project (operated by Kinross Gold Kinross Gold Corporation (TSX: K, NYSE: KGC) is a Canadian gold mining company. It is the seventh largest primary gold producer in the world.[1] See also
1. ^ Kinross Gold. ), which includes the Kettle, K-2, Lamefoot and Overlook mines. The Republic Graben has accounted for roughly five million ounces of gold production over the last century. The Empire Creek claims are located near the western edge of the Republic Graben, just a few miles south of the K-2 Mine and the newly discovered Emmanuel Creek Deposit. Recent drilling at Emmanuel Creek has intercepted bonanza-grade epithermal veins returning spectacular gold assays of up to 104 feet of 1.27 ounces per ton (oz/t) and 136 feet of 0.845 oz/t. Kinross anticipates that production from Emmanuel Creek will commence next year. Consulting geologists believe that Empire Creek contains two distinct target-types: bonanza-grade epithermal veins similar to those found at K-2 and Emmanuel Creek and high-grade gold skarns similar to those found at the nearby Overlook and Buckhorn buck·horn n. 1. The horn of a buck. 2. The material of such a horn, used especially to make handles for knives and tools. deposits. Empire Creek bears many similarities to the 1.6-million ounce Buckhorn Deposit, including graben margin location, alteration-type host rock, laterally-extensive magnetic highs, local high-grade gold and massive magnetite magnetite (măg`nətīt), lustrous black, magnetic mineral, Fe3O4. It occurs in crystals of the cubic system, in masses, and as a loose sand. content. Previous drilling at Empire Creek has intercepted up to 50 feet of 0.42 oz/t gold and 5.22 oz/t silver. The primary target for future drilling is an intense magnetic anomaly Magnetic Anomaly may refer to:
Please visit the Kimberly website at www.kimberlygold.com for more information. Kimberly Gold Mines, Inc. is an aggressive precious metal exploration company, focused upon the historic gold mining districts of the Pacific Northwest. Kimberly stock trades on the OTC Market under the symbol "KMGM". Certain statements contained in this press release are "forward looking statements" within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such statements are based on beliefs of management as well as assumptions made by and information currently available to management. Forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from expected results. |
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