The Company has received permits from Crown Minerals New Zealand on three gold properties in close proximity to Reeefton, west coast, South Island. A 3,000 meter diamopnd drill program is underway on the Alexander River property, which was the location of a historic mine that produced 41,000 ounces of gold from 47,000 tons of ore. Alexander River lies approximately 25 km south-east of Reefton. The Lyell property, which contains the historic mines, Red Queen and Stratconor, lies approximately 25 km north-east of Reefton, and the Paparoa property, which lies approximately 25 km south-west of Reefton. Historic reports indicate that approximately 10 million ounces of placer gold and 2 million ounces of lode gold have been recovered from the Reefton gold camps. The Reefton gold district is one of the three main gold districts in NZ. Dr.. Clay Conway, Ph.D. P.Geol, is the Company's senior consulting geologist on these projects.
The Flagstaff property, consisting of 36 unpatented claims of approximately 720 acres, is located approximately 15 Km south of Rossland, BC, in Washington state, and is readily accessible from the town of Northport, WA. The property is highly prospective for high grade gold and silver mineralization and contains a historic (1981) resource of approximately 1.3 million tons of 4.2 SG barite.
A Mine Permit has been received from the Spokane office of the US BLM to mine the historic barite resource at a maximum rate of 100,000 tons/year.
On 18 November 2008, the Company reported in a news release, KEX2008-33, that it had entered into a sales agreement with Matovitch Mining Industries Ltd, (MMIL) to supply MMIL with approximately 20,000 tones of 4.1 SG barite at the most current price as reported in the USGS commodity survey, which for reference is US$52/ton at the mine gate.
The Company has sourced the required equipment and anticipates the commencement of barite production early May, 2011.
Silver Hill, British Columbia
The Silver Hill property, a silver-lead-zinc prospect, is located in the Slocan Mining District of south-eastern British Columbia. Minfile records indicate that 70,000 ounces of silver, 350,000 lbs of lead and 35,000 lbs of zinc were recovered from approximately 2,400 tons of ore shipped from the property between 1899 and 1952.(non-NI43-101-compliant)
The Ivanhoe Creek property, a Midas-type gold-silver prospect, is located in the in the Carlin trend in the Northern Nevada Rift area of Nevada, in close proximity to Great Basin Gold's Hollister Development Block.
In June 2007, a historic bentonte deposit of unknown size, but reported to be approximately 2,000,000 tons, was discovered on the Ivanhoe Creek property and was staked as placer claims.
A drill reclamation bond has been posted with the Reno office of the US BLM and the bentonite property is drill permitted and, subject to financing, a drill program is planned to outline the bentonite resource.
Saskatchewan
Kent Exploration has applied for coal disposition permits on 93,432 hectares (approximately 350 square miles)in the region. Drill Permitting has been received on the Casat Lake coal prospecting area.
The Company's first properties are in close proximity to North American Gem's (NAG: TSX-V) "Adamas" discovery where, in 2007, Adamas discovered a coal seam that graded sub-bituminous A (43-101-compliant) quality over five metres in the Cretaceous rock (Mannville group rocks) sequence containing coal similar to the Goldsource coal discovery.
Historical data and reports suggest that coal is present to the north edge of the Cretaceous rock sequence along the shores of Wapawekka Lake to the north of the Adamas discovery and the Company's claim groups. These reports further suggest that the Wapawekka outcrop is likely associated with a larger deposit to the south. The Adamas intercept is directly south of Wapawekka Lake along the low-lying basin adjacent to the southeast of the Narrow Hills uplands.
The recent coal discovery by Goldsource Mines of bituminous coal, with a current estimated resource of between 450 - 900 million tons confirms the regional potential for coal deposits and suggests the potential for a additional coal systems.