Tillkännagivande • 3h
Kingsmen Resources Reports First Assays from Ongoing Diamond Drilling Campaign At Las Coloradas Silver Project
Kingsmen Resources Ltd. reported first assays from its ongoing fully funded diamond drilling campaign, from hole LC-26-013, drilled on the Company's 100%-owned Las Coloradas silver project in the Parral mining district of the Central Mexican Silver Belt, Chihuahua, Mexico. LC-26-013, the deepest hole drilled to date at the Soledad system, intersected significant silver-gold mineralization 54 meters down-dip of previously reported hole LC-25-010, confirming that high-grade mineralization at Soledad continues to grow at depth. Together with previously reported holes, LC-25-005 and LC-25-010, the fence of three holes has now intersected silver-gold mineralization over a minimum of 135 meters of vertical depth, and a new structural target has been identified. Mineralization remains open at depth and along strike. This result demonstrates the continuity of the high-grade silver mineralization and expands the known mineralized footprint. LC-26-013 (new): 5.20 meters @ 257 g/t AgEq (114 g/t Ag) within a broader alteration zone (130.0–246.9m), including 641 g/t AgEq (425 g/t Ag) over 1.40m (236.55–237.95m) — among the highest-grade silver intercepts reported by Kingsmen to date, and the deepest hole in the Soledad fence. LC-25-010 (previously reported, September 24, 2025): 1.45 meters @ 1,028 g/t AgEq (455 g/t Ag) (190.25–191.70m), including 1,742 g/t AgEq (770 g/t Ag) over 0.70m (190.85–191.55m), within a broader zone of 138 g/t AgEq over 13.35m (64.3 g/t Ag). LC-25-005 (previously reported, January 19, 2026): 15.7 meters @ 74 g/t AgEq (46 g/t Ag), including an upper zone of 704 g/t AgEq (460 g/t Ag) over 0.35m and a lower zone of 1,379 g/t AgEq (848 g/t Ag & 0.87 g/t Au) over 0.6m. Silver-gold mineralization has now been intersected over a minimum of 135 metres of vertical depth across the three-hole fence, with increasing width and grade at depth, and remains open at depth and along strike — pointing to the potential for a high-grade, untested extension of the Soledad system beyond the current drill fence. LC-26-013 cut a wide, continuous zone of alteration and mineralization (116.9m) starting at 130.0m downhole: 130.0–236.4m phyllic alteration; 236.6–239.2m stockwork of massive sulphide veins; 239.2–246.9m sulphide-rich rock. A new structural target has been identified along strike to the southeast and northwest, based on the structural flexure/dilatancy associated with the high-grade mineralization in LC-25-010 and LC-26-013. Mineralization comprises silver and gold bearing pyrite, sphalerite, galena and arsenopyrite with pervasive sericite-muscovite phyllic alteration +/- silicification. Drilling has now intersected silver-gold mineralization over a minimum of 135 metres of vertical depth, and the mineralization remains open at depth and along strike. The mineralized zone dips east at approximately 30% from LC-25-005 to LC-25-010, and at 45% from LC-25-010 to LC-26-013. This structural flexure/dilatancy is associated with significant mineralization and a wide zone of alteration in hole LC-25-010. In addition to confirming depth potential in LC-26-013, this structural flexure/dilatancy is an important drill target along strike to the southeast and northwest. The host geology consists of a sedimentary sequence comprising thin layers of shale and siltstone interbedded with fine- to medium-grained lithic sandstone of varying thickness (up to 2.0 metres). Numerous NW-trending pinch-and-swell quartz-calcite veins/structures have been identified at surface; in core, these are represented by alteration +/- silicification. The silver equivalent calculation formula is AgEq(g/t) = ((Ag grade (g/t) x (Ag price per ounce/31.10348) x Ag recovery) + (Pb grade (%) x (Pb price per tonne/100) x Pb recovery) + (Zn grade (%) x (Zn price per tonne/100) x Zn recovery) + (Au grade (g/t) x (Au price per ounce/31.10348) x Au recovery)) /(Ag price per ounce/31.10348 x Ag recovery). The prices used were USD 3,675/oz gold, USD 2,960/t zinc, USD 2,003/t lead and USD 42/oz silver. Recoveries are estimated at 40% for gold, 91% for lead, 85% for zinc and 92% for silver based on published figures by Kootenay Silver Inc. for sulphide mineralization in the Cigarra deposit, Chihuahua, Mexico, a deposit with similar style mineralization. The drill core (HQ size) is currently being geologically logged and sampled. The full drill core is sawn with a diamond blade rock saw. One half of the sawn drill core is bagged and tagged for analysis. The remaining half portion is returned to the drill core tray and stored. Bagged samples are securely stored prior to submission for analysis. Samples are being submitted to ALS Geochemistry-Chihuahua for multi-element analysis following four-acid digestion (code ME-MS61), and gold by fire assay-AA (code Au-AA23). Quality assurance and quality control (QA/QC) is maintained by the systematic insertion of certified standard reference materials (CSRM), blanks and duplicates into the sample stream. Assay results will be announced following receipt, compilation and confirmation. ALS Geochemistry operates under a Global Geochemistry Quality Manual that complies with ISO/IEC 17025:2017. The Las Coloradas Project (8.5 km² - 3.3 sq. miles) represents a consolidation of a historic mining district which covers numerous silver-gold-lead-zinc-copper mines previously exploited by ASARCO (American Smelting and Refining Company), the U.S.-based subsidiary of Grupo Mexico. Las Coloradas is in the Parral mining district of the Central Mexican Silver Belt and is located approximately 30 kilometers southeast of the city of Hidalgo de Parral and 40 kilometers east of the San Francisco de Oro and Santa Barbara mining districts, where several old major mines are located, such as La Prieta, Veta Colorada, Palmilla, Esmeralda, San Francisco del Oro and Santa Barbara. Kieran Downes, Ph.D., P.Geo., a director of Kingsmen and Qualified Person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical disclosure set out in this news release.