Vancouver, British Columbia--(Newsfile Corp. - December 20, 2016) - Makena Resources Inc. (TSXV: MKN) (FSE: A1KB6R) (OTCBB: CANSF) (the "Company" or "Makena") wishes to announce that the first hole of the 2016 diamond drilling program at the Clone gold property intersected 6.43 metres grading 17.83 grams per tonne gold from 46.33 to 52.76 metres. The Clone gold property is located 20 km southeast of Stewart in the Golden Triangle region of northwestern British Columbia.
Hole CL-16-01 was designed to test the depth potential of a trench excavated in 1995 which returned a grade of 11.65 g/t gold and 0.18 per cent cobalt across nine metres. It was inclined at an angle of 55 degrees and ended at 111.9 metres. Cobalt assays are pending.
Two lesser intersections were also reported in the hole: the first ran 3.07 g/t gold over 3.05 metres from 34.14 to 37.19 metres; the second ran 1.11 g/t gold over 33.6 metres from 78.3 to 111.9 metres (ending in mineralization). At present there is not enough information to calculate true widths of any of the intersections reported in the hole. Gold-cobalt results from a further six holes are awaited.
The Clone gold and gold-cobalt-bearing shear zones were first discovered in 1995. Since that date almost $6-million has been spent exploring a series of occurrences lying along a two-kilometre package of volcanic and sedimentary rocks. The so-called main zone, situated in the southeast portion of this system, has produced elevated gold grades both in trenches and in diamond drill core.
Quality control procedures in place include the field insertion of blanks and standards into the sample stream. Analytical work was done by Pioneer Laboratories of Richmond, B.C., an accredited facility. Gold was analyzed by 30-gram fire assay with atomic absorption finish. The Qualified Person for this news release is Dino Cremonese, PEng, who is president of Teuton Resources Inc., which is a partner in the drill program.
To date, Makena has achieved significant drill results that returned grades of 12.80 m (42ft) of 44.75g/t (1.305oz/t) gold values including 4.87m (16 ft) of 76.80g/t (2.240oz/t). (October 22, 2009) During another phase of a work program the Company completed a 102 tonne bulk sample from which the average grade was 4 oz/t or 137.1 g/t gold over the 102 individually tested one tonne samples. (October 25, 2011) Makena has a 50% interest in the clone
Negar Adam, President of Makena states, "Once again we have encountered solid results from the Clone. We are still waiting on the rest of the drill results, but 2017 is clearly shaping up as a year that we anticipate to conduct a much larger work program on the Clone."
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Contact Information
Tel: 1.604.685.5150
Fax: 1(604) 689-1733
"Negar Adam"
President
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