Kaminak Gold set to launch IPO

Vancouver — Soon-to-be-listed Kaminak Gold will hit the boards with a distinct advantage: one of the largest land positions in Canada for metals exploration.

The company will be combining non-diamond rights from several Hunter Exploration Group properties with gold projects owned by Shear Minerals (SRM-V, SMNQF-O) to hold over 60,000 sq. km of mineral licences with precious and base metal potential, including uranium, in Nunavut and northern British Columbia.

The company will also have the benefit of an extensive database compiled by third parties at a cumulative cost in excess of $23 million. Leveraging exploration done to date, Kaminak is looking to adopt partnerships on a number of its projects, through joint-venture agreements, to minimize spending while maximizing property potential and exposure to discoveries.

The company’s three core areas are its Eastern Arctic, North Slave and British Columbia properties, the features of which are as follows:

Eastern Arctic (Churchill)

– over 34,000 sq. km covering prospective mineralized belts, targeting gold, nickel-copper-PGMs, Olympic Dam iron oxide-copper-gold (IOCG) and unconformity hosted uranium;

– access to data from ongoing diamond exploration, including 71,000 line-km of magnetic-electromagnetic surveys, satellite imagery, GIS data and extensive geochemical sampling;

– known gold occurrences at Happy Lake, Amarok and MQ, plus uranium and copper at the Baker project;

– Matrix project has “Witswatersrand-type” quartz pebble conglomerate gold mineralization potential in a large Proterozoic basin — currently under option to Newmont Mining (nmc-t, nem-n);

– Sy property hosts gold mineralization associated with banded iron formations and was explored by Homestake, now part of Barrick Gold (abx-t, abx-n);

– IME properties comprise over 8,000 sq. km of Archean and Proterozoic terrane explored for diamonds but with little effort ever put towards metals, and includes significant ground near the Committee Bay greenstone belt.

North Slave

– the Lach project, near Bathurst Inlet, covers a large portion of the Bathurst Fault zone that hosts numerous gold occurrences;

– the Bathurst, Needel and BR properties all contain banded iron formation related gold mineralization.

Northern B.C.

– Voightberg project is a porphyry gold target that has previously been drilled (3 holes of 150 metres apiece) returning an average of 0.2-0.3 gram gold per tonne over the entire intercepts; and

– Nizi is a high-grade gold project hosted in an epithermal vein system.