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Kingsview Minerals Ltd. is pleased to announce an agreement with RT Minerals to acquire their Norwalk Project located between Kingsview’s Hubcap Project (east and west properties) and Red Pine Exploration’s Wawa Gold Project.
Norwalk consists of 33 claims covering approximately 460 hectares. The Red Pine discovery of visible gold in the Jubilee Shear Zone south of the Parkhill Fault in recent drill hole JS-22-368 is located approximately 1,500 m north of the northern boundary of the Norwalk Project, within the Jubilee Shear Zone Complex, which also runs north to south directly into the Barton gold showing located within the Norwalk property. Kingsview’s initial exploration efforts will be concentrated on the north-western part of the property.
Historical, non-NI 43-101 compliant, grab sample assays from the Barton Showing include 3.44 g/t, 6.31 g/t and 1.16 g/t gold. The RT Minerals high-resolution magnetic survey reveals a very strong N-S trending magnetic high anomaly and several important exploration targets. Historical drill hole 79-7 returned 4.29 g/t gold over 0.3 metres and straddles the flank of a strong magnetic low, suggesting a large zone of hydrothermal alteration with associated gold mineralization. A historical trench sample containing gold grading 8.44 g/t was reported within this system.
“We are very excited to be adding Norwalk Project to our project portfolio. Kingsview has done extensive due diligence on the project and has come to the conclusion that it contains multiple showings warranting further geological investigation, especially given its proximity and geological similarity to the neighbouring Red Pine gold project. The Barton showing is a complex of NE-SW trending quartz veins within highly carbonized metasediments and an associated iron formation. If the Jubilee Shear Zone cuts through this iron formation, it indicates the possibility of a much larger area of disseminated gold mineralization throughout the formation – not just isolated high-grade vein occurrences. Kingsview is keen on uncovering the full potential the property has to offer,” commented James Macintosh, President and CEO.
As per the terms of the Agreement, Kingsview is purchasing one hundred percent (100%) of the Property from RT Minerals, subject to the existing 2% net smelter return (“NSR”) royalty, in return for fifty thousand dollars ($50,000) and one million eight hundred thousand (1,800,000) common shares of Kingsview. The deal is subject to RT Minerals receiving any necessary regulatory approvals.
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