Kingsmen Intersects 218g/t AgEq over 6.5 Meters on New Structure, 150 Meters West of High-Grade Hole LC-25-010
Kingsmen reports its best silver grade-by-width to date on a second structure, though no true width or resource has been defined.
Kingsmen Resources Ltd. (KNG) reported results from hole LC-26-020, the only new hole in this release. The hole returned 6.45 m from 151.20–157.65 m downhole grading 218 g/t AgEq (199 g/t Ag, 0.53 g/t Au, 2.79% Pb, 8.70% Zn), including:
- 2.75 m @ 245 g/t AgEq (222 g/t Ag, 0.67 g/t Au, 1.66% Pb, 12.72% Zn)
- 1.95 m @ 338 g/t AgEq (313 g/t Ag, 0.70 g/t Au, 6.50% Pb, 9.78% Zn)
Two lower-grade intervals were also identified from the same hole: 1.80 m @ 63 g/t AgEq (40 g/t Ag, 0.75 g/t Au) from 173.20 m, and 4.05 m @ 17 g/t AgEq (11 g/t Ag, 0.20 g/t Au) from 216.20 m.
LC-26-020 is the second hole on the "#8" structure and an undercut of LC-25-008, which previously reported 10.5 m @ 200 g/t AgEq including 1.6 m @ 931 g/t AgEq / 1.28 g/t Au on 3 Dec 2025. The new intersection occurs 35 m east of and at almost the same elevation as LC-25-008. The #8 structure sits approximately 150 m west of high-grade hole LC-25-010 and approximately 200 m northeast of the old Soledad mine.
Geological descriptions indicate massive sulphides, including pyrrhotite, sphalerite, pyrite, arsenopyrite, and galena, from 153.90–154.90 m. A multidirectional massive-sulphide stockwork in pervasive phyllic alteration was observed from 154.90–156.20 m, followed by semi-banded massive sulphide with milky-white quartz from 156.20–157.15 m. Pathfinders Sb, Bi, In, As, and Te were noted.
Structurally, NE-trending veins cut a 400 m long flexure in regional NW-trending structures. The hole was sited at the south end of a 430 m x 200 m NW-trending chargeability/resistivity high that plunges northwest.
The AgEq formula uses metal prices of Au US$3,675/oz, Zn US$2,960/t, Pb US$2,003/t, and Ag US$42/oz, with assumed recoveries of 40% Au, 91% Pb, 85% Zn, and 92% Ag, taken from Kootenay Silver's La Cigarra deposit. True width cannot be calculated at this time. A collar table, full assay table, and QA/QC by ALS Chihuahua are included, with QP Kieran Downes, P.Geo. No cutoff grade is stated. This release contains no financial information of any kind.
Kingsmen Resources Ltd. (KNG) is a pre-resource explorer with no revenue, holding a market capitalization of approximately C$38 million and cash reserves of C$13.9 million as of 30 June 2026. The company has no debt and an enterprise value of roughly C$24 million. Prior-period context, not disclosed in today’s release, indicates a H1-2026 net loss of C$913k driven by general and administrative expenses of C$1.1 million, which included approximately C$344k in investor-relations contracts, alongside exploration spend of C$1.37 million. Management has indicated plans for up to 15,000 m of drilling and possible future financing.
The latest news adds two high-grade holes to the #8 structure. Hole LC-26-020 represents the best combined silver grade-by-width at 1,284 Ag g.m and the highest zinc grade over a real width at 8.7% Zn over 6.45 m reported on the property to date. This data modestly improves the likelihood that Las Coloradas hosts multiple parallel high-grade structures rather than a single one, providing a defined 430 x 200 m down-plunge target.
The announcement does not introduce a new structure, new dimension, step-out along strike or depth, increased demonstrated scale, true width, cutoff, metallurgy, or resource. On the headlined AgEq basis, its gram-metres are below both of the two best previous holes.
At $1.11, the stock is below its pre-discovery price and 60% below its 52-week high, having drifted 21% lower in the last month with no news. The price assumes little or nothing about this drilling. On grade-and-width substance, this is the strongest intercept demonstrated on the property, delivered into an unpriced tape.
The equity math suggests approximately 1.1 moz Ag-equivalent rock value per vertical metre per metre of strike at 4 m true width, equivalent to 10.8 t at ~US$542/t. However, one hole at one elevation against a C$38M market cap does not yet convert into tonnes.
Kingsmen Resources Ltd. (TSXV: KNG; OTCQB: KNGRF; FSE: TUY) is a Vancouver-based explorer with no revenue. The company holds 100% ownership of the 8.5 km² Las Coloradas property in the Parral district of Chihuahua, which consolidates a historic ASARCO silver-gold-lead-zinc mining district. The property features multiple parallel vein structures, including Soledad, Soledad II, #8, DBD, and Rosario, spanning a claimed corridor of approximately 2.5 km by 1 km. It also includes the untested Saddle target on the recently acquired Claudia 2 claim.
Kingsmen also holds an option to acquire 100% of the 866.25 ha Almoloya property through US$325k in staged payments over two years. Almoloya contains gold and silver assets, including historic Juliettas structures and the Cigarrero CRD mine. The Cigarrero mine historically produced approximately 1.25 million tonnes at grades of 600 g/t Ag, 40% Pb, and 25% Zn, according to company disclosure. These figures are historical, non-43-101, and not comparable to current work. Additionally, the company holds a 1% NSR on the La Trini claims within GoGold's Los Ricos North project.
As of 30 June 2026, Kingsmen reported C$13.9M in cash, no debt, and a working capital of C$14.0M. Total equity stood at C$17.3M, with a book value of C$0.50 per share. The company had 34.52 million shares outstanding and generated zero revenue, recording a net loss of C$913k for the first half of 2026. Exploration remains early-stage, with no resource estimate, preliminary economic assessment, reserve, or metallurgical testwork completed on the current project.