Mexico’s proposed higher mining royalties could block nearly $7bn in investments
The Mexican government proposed raising mining royalties under the argument that metal prices have risen in recent years.
VANCOUVER, Dec. 1, 2011 /PRNewswire/ – Kiska Metals Corporation (“Kiska” or “the Company”) reports final drill results from the Island Mountain prospect, Whistler Project, located 160 km northwest of Anchorage, Alaska. Results include hole IM11-040, which averaged 0.84g/t gold equivalent (0.53g/t gold, 3.55g/t silver and 0.13% copper) over 364 metres, including a higher grade interval that averages 1.05 g/t gold equivalent (0.62g/t gold, 6.36g/t silver, 0.17% copper) over 141 metres. All six of the final holes reported herein returned significant grades and widths of gold-copper mineralization, capping off a highly successful season of drilling at Island Mountain.
Hole IM11-040 was the first hole oriented in a north-south direction testing both geological and grade continuity. The hole intersected breccias and consistent gold-copper grades for almost its entire length. The other five holes were drilled on intermediate sections and to fill in a gap on section 7,750N, thereby providing drill coverage over the Breccia Zone on six 50-metre spaced, east-west sections.
“We are extremely pleased with the rapid progress of our drilling at Island Mountain where we have managed to grow the mineralized body in all dimensions and demonstrate consistently good gold and copper grades. Our drill density will allow us to conduct a thorough interpretation of the Breccia Zone and provide the knowledge to guide further expansion of the zone in 2012,” stated Mark Baknes, VP Exploration for Kiska Metals Corporation. “Our understanding of the Breccia Zone mineralization has enabled us to refine our exploration model. With this model and the success of our reconnaissance drill program we can see multiple high priority targets that we are anxious to drill test.”
