Kenai Resources Reports Sao Chico Gold Project Update, Brazil Issue of GUIA and Commencement of Stage 2 Drilling


Kenai Resources Ltd. (KAI.V) today provided an update on progress at the Sao Chico Gold project located on the Tapajos Gold Belt in Brazil.

Kenai's wholly owned subsidiary Gold Aura do Brasil Mineracao Ltda (GOAB) has received the Licenca de Operacao ( LO ), valid for 12 months, from SEMA, the Para state environmental authority. GOAB has also received the trial mining GUIA licence, which has yet to be formally gazetted, from DNPM, the Brazilian Mines Department.

The President and CEO of Kenai, Greg Starr commented "This is a major milestone for Kenai allowing for a high grade underground mine development, initially by way of a trial mining GUIA licence. Kenai's directors consider this to be a very positive step towards initial production from Sao Chico, with a simple ore processing flowsheet including crushing and grinding, and gravity concentration, followed by either cyanidation or flotation of the gravity plant tailings."

Kenai also announced that the Stage 2 diamond drilling program has now begun. The objective of the Stage 2 drilling program is to extend the size of NI 43-101 compliant mineral resources from the maiden high grade mineral resources estimate released on October 15th, 2012.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: LO

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