Kingsmen Resources Ltd. reported the recent completion of multi-element analyses on all rock samples collected in and around the old Soledad mine area (1.0 square mile) of the total Las Coloradas project. The Las Coloradas project is located 30km from Hidalgo de Parral, Chihuahua, Mexico. Portions of the Soledad structure were mined by ASARCO (American Smelting and Refining Company), the U.S. based subsidiary of Grupo Mexico in the period 1944 to 1952. The silver values and silver equivalent values for the Soledad Mine area targets and subsidiary structures. Silver equivalent values are overall significantly higher than the silver grades and reflect the silver-lead-zinc gold-copper composition of the mineralization. The Soledad mine area is presently one of four areas recognizable for significant mineralization. Kingsmen's sampling of residual mineralization in the old workings (where accessible) on the NW-trending Soledad structure/vein system, and subsidiary structures, confirmed the presence of high-grade silver mineralization which likely continues at depth below the water table. Sample widths ranged from 0.5 to 1.3 meters.
The Soledad structure/vein system, as currently recognized, is approximately 1.7 km long. Blind extensions to all the mineralized structures, as well as new structures, are likely at depth. The underground ASARCO workings
(1943 to 1952) are located on the southern end of the Soledad vein system (Figure 1; Soledad and Rosario shafts). The workings extend in excess of 250 meters along strike and to a vertical depth of approximately 125 meters on
four levels. The mineralization is shallow, high-grade, silver-gold-lead-zinc-copper quartz-calcite veins hosted by all rock types in structures that cut all rock types. The sizes of the old workings suggest the mined mineralization may
have been up to several meters in width. The mineralized structures have not been explored by drilling. There are strong similarities/parallels with the mineralization in the underground Santa Barbara mine where vein systems
vary from 3 to 6.5 km along strike and the vertical extension of the shoots have a vertical extension of up to 900 meters. The Santa Barbara mine is an underground mining complex belonging to Grupo Mexico, Mexico's largest
mining company. Scott Emerson, President commented: As continue with systematic and disciplined exploration approach on this newly consolidated district, the results from the Soledad Mine area are confirming that distinct areas of mineralization are recognizable indicating potential for significant mineralization in the other locales as identify new and existing target areas for drill campaign. The silver equivalent calculation utilizes the standard equation and is based on current spot metal prices of silver $25/oz, gold $2163/oz, copper $4.04/lb, lead $0.98/lb and zinc $1.16/lb. Recoveries are set at 100% for all metals for purposes of the silver equivalent calculation as no metallurgical test data is available. AgEq is used for illustrative purposes only and does not imply that the metals are economically recoverable. The QA/QC program employees blanks and certified reference standard, and check sampling. Samples from separate areas were analyzed at Actlabs, Zacatecas. Sealed and tagged sample bags were transported to the laboratory where the entire sample was crushed to a nominal -2 mm, mechanically split to obtain a representative sub-sample and then pulverized to at least 95% -105 microns (µm). All samples were analyzed for gold by Fire Assay Fusion-AA finish. All samples were analyzed for silver by aqua extraction with ICP finish. Multi-element analysis was by four acid extraction with ICP-OES finish. Kieran Downes, Ph.D., P.Geo., a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical disclosure set out in this news release.