Komet Announces First Drilling Results From Dabia South in Mali

QUEBEC CITY, QUEBEC–(Marketwired – March 27, 2017) – Komet Resources Inc. (“Komet” or the “Company”) (TSX VENTURE:KMT) is pleased to announce the first drilling results on its Dabia South permit (formerly known as Moussala) located in Mali. The first shallow six holes were drilled on the south portion of the Kabaya gold zone. The RC drilling sections are located within a north-south oriented corridor and cover a 50 meters width, drill hole true width is not determined. Among results, hole 06 reported 12.23 g/t over 3 meters. These new results complement the preceding historical intersections announced in the June 21, 2016, press release.

Table of the results:

Drill hole From
Km2016rc01 33 44 11 1.65
including 37 39 2 5.56
Km2016rc01 70 80 10 0.73
Km2016rc02 23 27 4 0.49
Km2016rc03 48 56 8 2.29
including 51 53 2 6.74
Km2016rc03 66 81 14 0.59
Km2016rc04 5 9 4 0.60
Km2016rc05 40 48 8 0.39
Km2016rc06 39 47 8 1.61
Km2016rc06 51 62 11 3.72
including 53 56 3 12.23

Samples were analyzed by merger fusion on a grip of 50g pulp and ppm finish for the gold at the independent SGS Laboratory, Bamako, Mali. Sampling on site is done by professional geologists and Quality Assurance/Quality Control and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices, including the introduction of standards, blanks and duplicates with every batch of 20 samples analyzed.

Concerning these new results, Mr. André Gagné, president and chief executive officer, made this comment: “These results were above our expectations in a new sector where gold vein mineralization was poorly known and not at all documented.”

Consequently, the company plans 500 metres of additional drilling to investigate this new zone.

Follow up on the Guiro project

Concerning exploration work:

  • The airborne geophysical survey has been completed on 100% of the permit. Final results are expected before the end of April following data processing
  • The company completed a soil geochemical program and the samples are now being analyzed and compiled. A total of 2700 samples were taken at a one meter depth from a 100 x 100 meter grid.
  • A new mineralized gold zone has been discovered 488 meters to the south of the Guiro mine. The vein structure previously worked by local gold panners is oriented to the east and is followed over 130 meters. The samples collected are currently being analyzed and compiled.
  • A diamond drill has been mobilized at Guiro. With new information coming from the airborne survey, prospecting, geochemistry and the sampling program, the company is now positioned to drill the most promising targets.

Concerning the Guiro mine:

  • The commissioning of the intensive leach reactor (Concep Acacia CS250) and the new gravimetric concentrator as started in the last few days. The refurbishing of the Denver Ball Mill is 100% completed and the testing is planned for this week. Also, the recommendations from the third-party metallurgical firm to optimize the process with, among others, the addition of hydro cyclones, will be completed in the next following weeks.

More information about the corporation is available at: http://kometgold.com.

Jacques Marchand, P.Eng. P.Geo., is the Qualified Person who has reviewed this news release and is responsible for the technical information presented herein.

Forward-Looking Statements

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release contains statements that may constitute “forward-looking information” or “forward-looking statements” as set out within the context of security law. This forward-looking information is subject to many risks and uncertainties, some of which are beyond Komet’s control. The actual results or conclusions may differ considerably from those that have been set out, or intimated, in this forward-looking information. There are many factors which may cause such disparity, especially the instability of metal market prices, the results of fluctuations in foreign currency exchange rates or in interest rates, poorly estimated resources, environmental risks (stricter regulations), unforeseen geological situations, unfavorable extraction conditions, political risks brought on by mining in developing countries, regulatory and governmental policy changes (laws and policies), failure to obtain the requisite permits and approvals from government bodies, or any other risk relating to mining and development. There is no guarantee that the circumstances anticipated in this forward-looking information will occur, or if they do occur, how they will benefit Komet. The forward-looking information is based on the estimates and opinions of Komet’s management at the time of the publication of the information and Komet does not assume any obligation to make public updates or modifications to any of the forward-looking statements, whether as a result of new information, future events, or any other cause, except if it is required by securities laws.

Investors relations and information:
Andre Gagne
President and CEO
[email protected] / Skype: andregagne11