Kermode Reports 2023 Review and 2024 Plans for Vancouver Island Projects

2024-02-07 / @thenewswire

(TheNewswire)

Victoria, British Columbia - TheNewswire - February 7, 2024 - Kermode Resources Ltd. (TSXV:KLM) ("Kermode" or the "Company") reports a review of exploration results from 2023 and plans for 2024. The results reported here cover four different projects called Lucky Strike, Black Panther, Santa Anna, and Mount Sicker, which are part of ongoing business development activities by Kermode.

Further details on all results are published online here,
https://drive.google.com/drive/folders/1GZUNS7HaTejFxvjuNp3ahw5OaHIDj2IG

Kermode CEO Peter Bell comments, "I believe our exploration work in 2023 was productive and plan to continue to execute our strategy in 2024."

Exploration partner Justin Deveault comments, "We are grateful for the opportunity to work on this program and get paid in shares of Kermode."

Independent qualified person Jacques Houle comments, "I recommend further work on these projects."

“LUCKY STRIKE”

The following assays were previously reported by Kermode on May 12, 2023.

Sample #	Easting	Northing	Elev.	Location Name	Rock Type	Copper (% Cu)	Zinc (% Zn)
C-154	376329.483	5416003.226	107.73	Camp	Sulphide Breccia	0.47	29.40
C-175	376329.921	5416005.202	107.77	Camp	Sulphide Breccia	0.34	>30
D727908	376329.483	5416003.226	107.68	Camp	Sulphide Breccia	0.27	14.50
D727918	376330.371	5416006.639	107.82	Camp	Sulphide Breccia	8.39	0.08
D727947	376330.312	5416007.302	107.81	Camp	Massive Sulphide	0.54	>30
CAMP-150	376249.919	5415521.804	99.91	Copper	Sulphide Breccia	0.15	9.93
D727943	376251.967	5415517.688	99.71	Copper	Sulphide Breccia	18.90	0.28
D727945	376254.779	5415510.319	99.51	Copper	Sulphide Breccia	19.00	0.09
D727946	376250.091	5415515.18	99.38	Copper	Sulphide Breccia	9.51	0.13
D727938	375954.449	5417249.918	141.09	Lucky 7	Sulphide Breccia	0.15	13.95
NC-162	376491.224	5416768.123	236.01	New Camp	Sulphide Breccia	0.09	13.70
NC-163	376496.284	5416752.422	236.54	New Camp	Sulphide Breccia	0.11	21.10
D727910	380413.441	5420215.524	464.5	New Copper	Massive Sulphide	16.20	0.06
D727911	380413.355	5420206.951	460.04	New Copper	Massive Sulphide	24.60	0.06
D727940	380405.16	5420200.61	458.14	New Copper	Massive Sulphide	18.70	0.04
D727941	380421.861	5420214.045	461.35	New Copper		22.10	0.03

Rock Sample Details for Lucky Strike Property
Sample #	Location	Location Name	Type	Details
C-154	Mainline Carmanah	Camp	1m chip	Gossanous chip of weathered sphalerite vein attached to bedrock. Massive sulphide area is 25cm wide, another 1m wide with disseminated pyrite, sphalerite in grey siliceous rock surrounding. Area was backfilled by road grader when ditches were redug 2 months after sampling. Chip sample from gossanous vein only.
C-175	Mainline Carmanah	Camp	Grab	Chip off a 100kg chunk of vein pulled out of the bank near power pole 197. Boulder was angular and has a 50cm wide massive sulphide vein containing sph, gal, py. Attached to the side was a brittle 14cm massive black sphalerite vein.
D727908	Mainline Carmanah	Camp	Grab	Bedrock grab beside power pole 197 at the Camp Showing. Small massive sulphide lense broken off of bedrock or grey siliceous rock unit. Sample contains sphalerite, pyrite, galena and minor chalcopyrite.
D727918	Mainline Carmanah	Camp	Grab	Sample from Copper showing. Roadside in the ditch. Sample taken from beside a 20cm wide, deteriorated, vuggy, brownish stained quartz vein. 3cm x 2cm chalcopyrite patch attached to Karmutsen volcanics.
D727947	Mainline Carmanah	Camp	1.1m chip	Massive sphalerite, galena, and minor pyrite in a brittle,hydrothermally altered grey rock (siliceous unit). Chip from exposed bedrock with patches and stringers of sulphides. Including galena, sphalerite, coarse pyrite. Sample has 50% mineralization.
CAMP-150	Mainline Carmanah	Copper	4.3m composite chip	Composite chip sample over a 4.3m wide area of exposed bedrock. 16x 30g+ samples taken every 30cm in bedrock exposed. At least 5 contained 30-50% mineralization. All samples had sphalerite, pyrite and minor galena found as disseminations, stringers, patches or small lenses.
D727943	Mainline Carmanah	Copper	Grab	Karmutsen formation, sheared basaltic rock, brownish coloured. With attached sulphide lens. Sample taken from the side of a lens running through the ditch. Contains roughly 30% chalcopyrite and 5% pyrite, minor sphalerite.
D727945	Mainline Carmanah	Copper	Grab	Massive chalcopyrite from bedrock in the ditch at the Copper showing. Sample in basaltic rock with 30% chalcopyrite and 10% weathered pyrite. Sample has heavy oxidation and weathering around pyritic areas.
D727946	Mainline Carmanah	Copper	Grab	Sample taken from 1.5m into roadway. Hole dug down to massive sulphide area containing, pyrite, chalcopyrite, sphalerite and possible arsenopyrite. Bedrock grab of massive chalcopyrite in quartz.
D727938	Flora Main	Lucky 7	Grab	Grey siliceous rock unit that is pyritized with up to 5% pyrite with patches of sphalerite and pyrite attached. Pyrite is weathered with orange/reddish staining.
NC-162	Carmanah 400	New Camp	4.4m chip	New Camp showing. Basaltic rock, sheared green, purple and brown volcanics with irregular quartz eyes, patches. Samples is stained brown in area of sulphides. Contains 20-30% sphalerite, galena, pyrite.
NC-163	Carmanah 400	New Camp	Grab	New Camp Showing. Basaltic rock, sheared green, purple and brown volcanics with irregular quartz eyes, patches. Sample is stained brown in area of sulphides. Contains 50% sphalerite, galena, pyrite.
D727910	Summit Main	New Copper	3m chip	New Copper Showing - 3m chip sample in a massive chalcopyrite, pyrite showing. Area stained with minor malachite. Samples on average contain over 50% sulphides.
D727911	Summit Main	New Copper	Grab	New copper showing. Showing of massive chalcopyrite in center of a 500m wide area of shear zones and magnetic outcrops, sporadic magnetite. Skarn hosted. Sample contains 30-35% chalcopyrite, pyrite, pyrrhotite
D727940	Summit Main	New Copper	Grab	New copper showing. Showing of massive chalcopyrite in center of a 500m wide area of shear zones and magnetic outcrops, sporadic magnetite. Skarn hosted. Sample contains 50%+ massive chalcopyrite, pyrite, pyrrhotite.
D727941	Summit Main	New Copper	Grab	New copper showing. Showing of massive chalcopyrite in center of a 500m wide area of shear zones and magnetic outcrops, sporadic magnetite. Skarn hosted. Sample contains 25% on average chalcopyrite, pyrite, pyrrhotite. Composite chip sample over 3m area of mineralization.

Links to videos showing all field work associated with these samples are below.

Location Name	Field Work video link
Camp
Camp
Camp
Camp
Copper
Lucky 7
New Camp
New Copper
New Copper

“SANTA ANNA”

The following assays were previously reported by Kermode on December 5, 2023. The samples were taken from approximately thirteen areas of interest as part of an ongoing sampling program that commenced in August, 2023. Kermode previously published pictures of these samples and videos showing the exploration field work done to collect these samples and others.

Sample No.	Copper (% Cu)	Silver (ppm Ag)	Gold (ppm Au)
K487256	0.89	12.4	<0.01
K487257	5.22	109	0.32
K487258	3.00	94.7	0.03
K487259	7.27	462	0.59
K487260	3.04	57.8	0.05
K487261	5.03	145	0.2
K487262	5.51	163	0.18
K487263	4.92	105	0.41
K487264	6.64	183	0.51
K487265	6.97	246	0.78
K487266	12.55	320	0.77
K487267	5.11	122	0.45
K487268	4.49	113	4.66
K487272	14.15	330	0.94

Links to videos showing the prospecting for these samples are provided below.

Video Title	Field Work video link
“Prospecting The Santana Mine Area!”
“Sampling Copper Skarns Exposed In Trenches & Opencuts Over 340 Meter Strike!”
“Stockpiled Massive Chalcopyrite From Old Mine Workings!”

Further information about all rock samples is provided below.

Rock Sample Details for SANTA ANNA Property
Sample #	Location	EASTING (ZONE 10N)	NORTHING (ZONE 10)	Type	Details
K487256	SHOWING #3	345733	5562257	Grab	Host rock adjacent to showing. Host rock is a gneissic rock and has what appears to be very minor black colored sulphides (nonmagnetic) and with magnetite disseminated in rock adjacent to mineralized opencut. Consistent with a lot of the unmineralized gneiss in the area. Took sample adjacent to showing #3 which is mineralized skarns.
K487257	SHOWING #4	345720	5562226	Grab	Trench grab sample. Bedrock grab from a small, mineralized area with 10% chalcopyrite and 3% pyrite, 2% sphalerite in gneiss/skarn. Limestone, gneiss, quartz diorite found in a 3m x 2m x 15m trench. Bedrock exposed has varying 1-15% sulphides to left side. Float rocks in trench mineralized.
K487258	SHOWING #6	345734	5562195	Grab	Open cut/trench/stripping area. Gneiss with 10% sulphides, 3% pyrite and 7% chalcopyrite. Showing of limestone and gneiss found in a 2m x 2m x 2m pit. Up to 10% sulphides seen. Stripping and blasting seen continued down hill in a 18m long by 5m wide area. Trenched and blasted areas sloughed in areas, but limestone contact seen.
K487259	SHOWING #7	345745	5562174	Grab	Sample from lower trench with 2m quartz vein and disseminated chalcopyrite. Large white quartz vein exposed in 2 trenches and a pit. And two 1m x 1m x 10m trenches. Sample of weathered gneiss attached to quartz with small patches of chalcopyrite. Approximately 15% chalcopyrite.
K487260	SHOWING #7	345745	5562174	Grab	Sample from middle trench at showing, trench exposes small bedrock area at back of trench with 10% chalcopyrite. Trench mostly sloughed in. Large white quartz vein exposed in trench and a pit on either side of this. Trench is 1m x 2m x 10m.
K487261	SHOWING #12	345758	5562117	Grab	15m tall vertical outcrop with two open cuts striking into the side 3m x 3m deep into skarn and gneiss with disseminated up to massive sulphides. The showing is exposed over 5m wide and is 18m long but open at depth, width and strike. Quartz is cutting through in a couple areas and magnetic quartz diorite and gneiss seen 20m above the showing. The showing and sample contain skarn with disseminated chalcopyrite, minor pyrite and magnetite. Sample contains 15% chalcopyrite, 25% magnetite and 5% pyrite which is an average sample seen. Sample taken from an area of average mineralization in the first open cut.
K487262	SHOWING #13	345758	5562102	Grab	20m tall vertical outcrop with several blasted small cuts and stripping over 30m strike along base of outcrop. Many areas of skarn/gneiss with disseminated up to massive sulphides seen. The showing is exposed over the base at a strike of almost 30m long. Quartz veining seen cutting through in several areas contains small patches of mineralization. The sample contains skarn with disseminated to semi massive chalcopyrite and minor pyrite and magnetite. Sample contains 15% chalcopyrite, 5% pyrite and 5% magnetite. Sample taken from an area of average mineralization seen.
K487263	SHOWING #5	345733	5562206	Grab	Sample contains 10% chalcopyrite, 5% pyrite and a little sphalerite from a portion of trenched on outcrop in the lower part of the trench. Gneiss exposed in the upper outcrop above. Gneiss and limestone exposed in lower outcrop. A 20m wide by 20m long area has been trenched and blasted on. Several areas found with up to 15% sulphides but needs further exposing due to overburden, trees being sloughed in. Moss cover is thick.
K487264	SHOWING #15	345756	5562064	Grab	50m tall vertical outcrop with 3m wide by 15m trench below base of trench cuts through skarn-ifed rock and gneiss. Showing is at least 5m wide, likely more, but is covered by debris. The sample contains skarn with disseminated chalcopyrite and minor pyrite/pyrrhotite with some isolated malachite. Sample contains 15% chalcopyrite, 5% sphalerite and 5% pyrite on average. Sample taken from an area of average mineralization in the lowest part of trench.
K487265	SHOWING #14	345761	5562091	Grab	20m tall vertical outcrop with a 3m x 4m open cut striking into the side 3m deep into skarn-ifed rock with disseminated up to massive sulphides. The showing is exposed over 10m wide and is continuous from previous showings along strike. A couple areas and gneiss seen 20m above the showing and interwoven with quartz and sulphides. The showing contain skarn/gneiss with disseminated to semi massive chalcopyrite and minor pyrite and sphalerite. This sample contains 25% chalcopyrite, 5% pyrrhotite, 5% sphalerite and 10% pyrite. Sample taken from an area of average mineralization.
K487266	SHOWING #14	345761	5562077	Grab	20m tall vertical outcrop with a 3m x 4m open cut striking into the side. 3m deep into skarn with disseminated up to massive sulphides. The showing is exposed over 10m wide and is continuous on strike of sample K487265. The second sample from the showing contains skarn with semi massive chalcopyrite and pyrite, with some minor sphalerite. Sample contains 30% chalcopyrite, 5% magnetite. 5% sphalerite, 10% pyrite. Sample taken from an area of average mineralization compared to other samples removed.
K487267	SHOWING #20 (Adit #1)	345746	5561975	Grab	Semi-massive chalcopyrite attached to gneiss from dump with minor pyrite. Sample was 50% mineralized with 20% chalcopyrite, 5% sphalerite and 25% pyrite
K487268	SHOWING #18 (Adit #1)	345746	5561992	Grab	Inside mine adit #1. Grab from 20cm patch of chalcopyrite in quartz inside the mine in the center of a large 3m wide white quartz vein. Sample is 2m from the limestone contact inside by the base of the raise. Sample contained 30% chalcopyrite.
K487272	SHOWING #19 (Adit #1 Opencut)	345739	5561990	Grab	Massive chalcopyrite in the hanging wall above the opencut at adit #1. Sample attached to gneiss and skarn. Sample had malachite, azurite patches/staining on chalcopyrite and contained 50% chalcopyrite, 5-7% sphalerite and minor pyrrhotite, pyrite.

CEO Peter Bell comments, "I believe the Santa Anna project has significant potential.”

“MOUNT SICKER”

The following assays were previously reported by Kermode on December 18, 2023. The samples were taken from approximately thirteen areas of interest as part of an ongoing sampling program that commenced in October, 2023. Kermode previously published pictures of these samples and videos showing the exploration field work done to collect these samples and others.

Assays for Chip Samples from MOUNT SICKER
Sample No.	Copper (% Cu)	Width (metres)
K487452	5.92	1.75
K487453	4.43	4
K487454	2.01	0.35
K487455	3.26	0.75
K487457	0.26	1
K487458	5.85	1
K487460	1.47	2

Links to videos showing the prospecting for these samples are provided below.

Video Title	Field Work video link
“New Road Cut Exposes Large Copper Showing At The Mount Sicker Property!”
“Abandoned Mines With Mineralized Quartz Veins Everywhere!”
“Historic Dozer Trench Exposed 100m of Mineral Showings!”

Further information about all rock samples is provided below.

Details for Chip Samples from MOUNT SICKER
ID	EASTING (ZONE 10N)	NORTHING (ZONE 10)	Details
K487452	444576	5413415	Chip over a quartz, pyrite, chalcopyrite vein at lower 911 SHOWING.
K487453	444599	5413415	Vein of silicified schists with grey-white quartz veining sulphides in the foliations of schists and semi-massive sulphides in the quartz-rich areas. 40-70% sulphides. By drilling, vein is 4.4m wide.
K487454	444750	5413373	Tom's shaft wall which used to be partially flooded, road building drained shaft which is 4-5m deep Patch of semi-massive pyrite with minor stringer chalcopyrite woven through coarse pyrite. Host is silicified schist with quartz.
K487455	444424	5413474	The Tuna Adit, undocumented adit, 16m long adit cutting through, schist, chert, silicified rock and quartz veins. Sample had 20% pyrite and 10% chalcopyrite. Sample from center of partially flooded adit. Below 911 SHOWING near the old road.
K487457	444771	5413352	Sample of coarse, grey, semi-massive pyrite in silicified schists with quartz, no visible chalcopyrite along old main road. Second showing exposed across the road 20m away.
K487458	444612	5413413	Silicified and cherty schists with quartz and gold-blue-black chalcopyrite exposed across a 1m area. Located 20m before the 4m chip sample. Sulphides are chalcopyrite at 25% and pyrite at 15% on average.
K487460	444600	5413383	Dozer trench sample over 2m of mineralized quartz, silicified schists, chert. The entire 100m long trench is mineralized with varying amounts of pyrite and chalcopyrite Sample taken. 35m up in dozer trench. Sample contains 7-10% pyrite and 5-7% chalcopyrite.

CEO Peter Bell comments, "There is approximately 300m along the logging road where Kermode has focused exploration work at the 911 SHOWING, including a composite chip sample over approximately 80 metres and 9 drill holes totalling approximately 55 metres using a backpack drill. We continue to cut samples using a rock saw.”

A photograph of the outcrop at the 911 SHOWING is provided below.

Click Image To View Full Size

Pictures of saw-cut samples from the 911 Showing at Mount Sicker.

Click Image To View Full Size

Picture of road build material at the 911 Showing

“BLACK PANTHER”

The following assays were previously reported by Kermode on January 8, 2024. The samples were taken from approximately thirteen areas of interest as part of an ongoing sampling program that commenced in August, 2023. Kermode previously published pictures of these samples and videos showing the exploration field work done to collect these samples and others.

Sample Number	Gold (ppm Au)	Sample Type
K487273	14.8	2.0 m
K487274	17.1	1.1 m
K487630	6.2	Float
K487634	6.2	Chip
K487275	73.9	Float

Videos showing the prospecting for some of these samples are provided below:

Video Title	Field Work video link
“Magnificent Chalcopyrite In Waste Rock Pile!”
“Massive Sulphide Chunks Cemented In The Road Bank!”

Further information about all rock samples is provided below.

Rock Sample Details for BLACK PANTHER Property
Sample Number	Location	EASTING (ZONE 10N)	NORTHING (ZONE 10N)	Type	Details
K487273	Near Panther Minfile Area	381383	5438534	2.0 m	7m area with veins up to 10cm and pods of pyrite up to 50cm. Mineralization is semi-massive to massive. Sample from a 40cm wide pod containing 80% pyrite and 10% brown/red sulphides, minor chalcopyrite. The host is Basalt with chlorite-epidote-carbonate alteration.
K487274	200m From Panther Minfile Area	381354	5438487	1.1 m	3m wide area of oxidation which has disseminated - massive pyrite. Near vertical vein of massive pyrite with minor chalcopyrite. Basaltic host with carbonate/epidote alteration. Sample across all mineralized portions.
K487630	270m From Father & Son Creek	380101	5440963	Float	30m wide area on newly cut road 500m from Thistle and 270m from Father & Son Creek. Cemented Overburden contained 11 float rocks up to 15 kg. A sample broken from a 15kg boulder contained 30% chalcopyrite, 30% pyrite and 20% magnetite.
K487634	Thistle Mine Lower Glory Hole	380460	5440555	Chip	Chip sample taken from an area of mineralization at least 2m wide in the left part of Lower Glory Hole. Grey siliceous volcanic with 30% chalcopyrite and 10% pyrite. Abundant malachite and azurite staining.
K487275	Tan Minfile/B&K Minfile	384465	5439501	Float	Float sample from a 20 kg quartz sulphide chunk with 15% pyrite, 15% chalcopyrite, 5% galena, and possible disseminated visible gold. The sample is heavily disseminated in white quartz in a creek 300m above Tan Minfile but likely travelled from further up near B&K as the boulder was moderately rounded.

Property Option Deal Terms

LUCKY STRIKE:

--To earn 100% ownership of the project, Kermode must make these payments.
--900,000 common shares of Kermode on or before July 19, 2024. In addition to the payment of 900,000 common shares made on July 19, 2022 and 900,000 common shares made on July 19, 2023.
--The Net Smelter Return royalty is set at 2% two percent with a buy-down of $1M one million dollars to reduce the royalty to 1% one percent.
--There are no Sales Participation Rights, nor work commitments.

SANTA ANNA:

--To earn 100% ownership of the project, Kermode must make these payments.
--2,800,000 common shares of Kermode on or before Septemer 21, 2025 and 3.500,000 common shares of Kermode on or before September 21, 2028. In addition to the payment of 2,100,000 common shares made on September 21, 2023.
--The Net Smelter Return royalty is set at 2% two percent with a buy-down of $3.5M three and a half million dollars to eliminate the royalty.
--The Sales Participation Right (SPR) is set at 7% seven percent of gross proceeds of any transaction in the next ten years.
--There are no work commitments.

MOUNT SICKER:

--To earn 100% ownership of the project, Kermode must make these payments.
--Cash payments totalling $210,000 by September 21, 2029.
--Common shares payments totalling 20,000,000 in a series of payments before September 21, 2029. Kermode has not paid any shares yet.
--The Net Smelter Return royalty is set at 2% two percent where half can be eliminated for one million dollars $1,000,000.
--The Sales Participation Right (SPR) is set at 5% five percent of gross proceeds of any transaction in the next ten years.
--There are no work commitments.

BLACK PANTHER:

--To earn 100% ownership of the project, Kermode must make these payments.
--Common shares payments totalling 3,600,000 in a series of payments before August 26, 2026. In addition to the payment of 1,200,000 common shares made on August 11, 2023.
--The Sales Participation Right (SPR) is set at 30% thirty percent of gross proceeds of any transaction in the next ten years.
--The Net Smelter Return royalty is set at 3% three percent with a buy-down of $6M six million dollars to eliminate the royalty.

Qualified Person

The technical information in this news release has been reviewed and approved by Mr. Jacques Houle, P. Eng, a Qualified Person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards. Mr. Houle is independent to Kermode.

QA/QC Statement

The most recent work conducted on the subject property by the Company utilized commercial laboratories for all geochemical analyses and was conducted using industry-standard chain of custody procedures with all samples. Due to the preliminary nature of the field geochemistry programs, no blind analytical blanks and standards were utilized by the Company; and only the internal procedures employed by the commercial laboratories were utilized for QA/QC protocols. The Qualified Person is satisfied that these procedures and protocols are sufficient for the current status of the subject property. The assays were completed by ALS Canada Ltd. in Vancouver, BC.

About Kermode

Kermode is a junior mining company hunting for exploration opportunities around the world.

On Behalf of the Board of Directors,

KERMODE RESOURCES LTD

"Peter Bell"

President/CEO

For further information please contact:

Tel: 1-250-588-6939

Email: peterbellmining@gmail.com

Website: https://linktr.ee/kermoderesources

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release contains statements that constitute "forward-looking statements" within the meaning of applicable Canadian and United States securities legislation (collectively herein referred to as "forward-looking information"). Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause Kermode actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.

Forward-looking statements in this document include but not limited to results, analyses and interpretations of exploration programs; our grassroots exploration program, geological and mineralization interpretations and the plans, results, costs, and timing thereof. Although Kermode believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by their nature forward-looking statements involve assumptions, risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

This list is not exhaustive of the factors that may affect any of our forward-looking information. Although we have attempted to identify important factors that could cause actual results, actions, events, conditions, performance, or achievements to differ materially from those contained in forward-looking information, there may be other factors that cause results, actions, events, conditions, performance, or achievements to differ from those anticipated, estimated or intended.

The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.