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Kent Exploration Applies for NZ Lyell Gold Project Exploration Permit

Date : 11/14/2012 @ 4:10AM
Source : Marketwired

Kent Exploration Applies for NZ Lyell Gold Project Exploration Permit

Kent Exploration (XE:A0YA9U)
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Kent Exploration Inc. (TSX VENTURE:KEX)(PINKSHEETS:KXPLF)(FRANKFURT:7KX) (the "Company" or "Kent") reports that it has applied for an Exploration Permit over a portion of its already permitted Lyell Gold Project that lies approximately 40 km north-east from the town of Westport in New Zealand's ("NZ") highly prolific West Coast, South Island, gold fields.

During the 2009 through 2011 work programs at Lyell, the Company essentially confirmed that the area, including the historic Red Queen Mine, the most profitable quartz gold mine in the area, is highly prospective for high-grade gold mineralization. Intermittent mining of the Red Queen Vein ("RQV") between 1885 and 1910 reportedly produced 3,104 ounces of gold from 2,243 tons of ore, at an average grade of approximately 43 g/t (1.4 opt). Intermittent mining also occurred in the mid 1930s to 1941. Since being closed in 1941, the Red Queen Mine has received only minimal attention from explorers. Historic mines in the area include the Red Queen, Red Chief, Southern Light, Andersons Creek Reef, Nile, Swanston, Swastika, South Pacific, Mokihinui, Lady Agnes and Halcyon Mines.

The historic Red Queen Mine has good potential to host significant gold mineralization. Historic production records from early mining suggest that the RQV may possess average grades as high as 42.86 g/t (1.4 opt) gold (Table 1).

Table 1


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                        Tonnes      Ounces of Gold       Average Gold Grade 
Period                  of Ore            Produced                    (g/t) 
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1885-1886                 1585                2262                    44.39 
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1902-1910                  658                 842                    39.17 
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Total                     2243                3104  42.86 (weighted average)
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While production records for subsequent mining in the 1930s - 1940s are not available, assay results from sampling are. All available historic assay results for the RQV to-date are listed in Table 2. These assay results indicate bonanza grades of up to 171.48 g/t Au (5.48 opt Au) are present at the Red Queen Mine. Many of the 50 lb representative samples assayed in 1938, and filed with the now NZ Petroleum and Minerals, reportedly deliberately excluded vein material that was seen to contain visible gold and therefore the true gold grades, may be underestimated.

Table 2


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         Sample                                                         Gold
Year         ID                          Location              Notes   (g/t)
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1938          -   Payne's Drive, 64ft along x-cut        Grab sample  171.48
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1938          -   Payne's Drive, 64ft along x-cut  50lbs rep. sample   18.14
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1938          -   Payne's Drive, 64ft along x-cut  50lbs rep. sample    5.51
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1938          -     Payne's Drive, S-Drive - 37ft        Grab sample   10.17
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1938          -     Payne's Drive, S-Drive - 40ft        Grab sample    2.01
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1938     25ft-1     Payne's Drive, S-Drive - 25ft  50lbs rep. sample   17.39
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1938     25ft-2     Payne's Drive, S-Drive - 25ft  50lbs rep. sample   18.15
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1938     25ft-3     Payne's Drive, S-Drive - 25ft  50lbs rep. sample   17.54
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1938     30ft-1     Payne's Drive, S-Drive - 30ft  50lbs rep. sample    4.98
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1938     30ft-2     Payne's Drive, S-Drive - 30ft  50lbs rep. sample    5.53
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1938     30ft-3     Payne's Drive, S-Drive - 30ft  50lbs rep. sample    5.13
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1938     35ft-1     Payne's Drive, S-Drive - 35ft  50lbs rep. sample    2.01
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1938     35ft-2     Payne's Drive, S-Drive - 35ft  50lbs rep. sample    2.53
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1938     45ft-1     Payne's Drive, S-Drive - 45ft  50lbs rep. sample   10.17
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1938     71ft-1     Payne's Drive, S-Drive - 71ft  50lbs rep. sample    1.33
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1938     77ft-1     Payne's Drive, S-Drive - 77ft  50lbs rep. sample   79.88
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1938     84ft-1     Payne's Drive, S-Drive - 84ft  50lbs rep. sample   84.39
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1938     90ft-1     Payne's Drive, S-Drive - 90ft  50lbs rep. sample    3.02
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1938    107ft-1    Payne's Drive, S-Drive - 107ft  50lbs rep. sample   53.57
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1938    110ft-1    Payne's Drive, S-Drive - 110ft  50lbs rep. sample   11.31
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1938    117ft-1    Payne's Drive, S-Drive - 117ft  50lbs rep. sample    3.84
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1939          -    Lower Level Drive, x-cut B RQV        Grab sample   65.84
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1939          -    Lower Level Drive, x-cut B RQV        Grab sample   91.44
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1971         M2    Lower Level Drive, x-cut B RQV        Grab sample   74.96
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2009  RXHR00002    Lower Level Drive, x-cut B RQV        Grab sample   69.40
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2010  RXHR00020    Lower Level Drive, x-cut B RQV  Repeat: RXHR00002   28.90
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2010  RXHR00011    Lower Level Drive, x-cut C RQV        Grab sample    2.94
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2011      57223              15m into x-cut A RQV            1m chip    6.87
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2011      57234     Lower Level Drive - 170m. RQV            1m chip    0.56
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The RQV is relatively extensive where it is exposed by the historic workings, and can been traced over approximately 200m along dip and 300m along strike. The RQV is structurally very simple; being planar, trending sub-parallel to the host-rock bedding/foliation (striking approximately north-south and dipping 70 degrees -80 degrees west), and featuring only minor amounts of offset along cross-cutting faults. Gold mineralization remains open both up-and down-dip and along strike to the north and south. The two accessible drives, Paynes and Lower Level, were driven approximately 5 - 10 m beside and parallel to the Red Queen vein and have been characterized as production drives.

Characteristics of the Red Queen Mine indicate an orogenic, Blackwater-type style of gold mineralization. (Blackwater, south of the town of Reefton and central to the Reefton Gold Field, was mined down to approximately 2,800 ft and reportedly produced approximately 730,000 ounces of gold before it was shut down after a shaft collapse. Historic reports indicate an approximately 300,000 ounce gold resource was identified at the time of the shut down).

The Company advises that the grades reported prior to 2009 are historic in nature, are not NI 43-101 compliant and should not be relied upon. A qualified person has not done sufficient work to classify historical estimates as a current mineral resource and the Company is not treating the historical estimates as a current mineral resource and any historical estimates should not be relied upon.

Kent Exploration Inc. is a junior exploration company with a 100% interest in all its major projects, and is planning on building shareholder value through establishing cash flow from its Flagstaff Mountain, WA, barite mine, and then from its now wholly owned bentonite property in Nevada. Any positive cash flow is intended to reduce dilution and fund exploration on its three major gold prospects (Alexander River, Paparoa and Lyell), in the highly prolific West Coast South Island gold fields of New Zealand. Additional shareholder value has been established through its approximately 18% interest in Archean Star Resources Inc, ("Archean") which is listed on the TSX Venture Exchange under the symbol ASP.

The Company has an experienced management and technical team with extensive exploration expertise and offers investors the potential for a major gold discovery on its New Zealand gold projects.

This News Release has been prepared on behalf of the Kent Exploration Inc. Board of Directors, which accepts full responsibility for its contents. The contents of this news release has been reviewed and approved by Dr. Clay Conway, P. Geol., a Qualified Person as recognized by National Instrument NI-43-101 and a director of the Company.

ON BEHALF OF THE BOARD

Graeme O'Neill, President

Neither the TSX Venture Exchange, nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), has reviewed, nor do they accept responsibility for, the adequacy or accuracy of this news release.

Contacts: Kent Exploration Inc. Graeme O'Neill President 604-684-3394 or Toll Free: 1-866-399-6539 1-888-282-7763 (FAX) www.kent-exploration.com



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