Kintavar Exploration Inc. drills 51m @ 0.24% Cu, Opens the Sherlock Zone to the East
TSX VENTURE: KTR
MONTREAL, Feb. 11, 2019 (GLOBE NEWSWIRE) -- Kintavar Exploration Inc. (the “Corporation” or “Kintavar”) (TSX-V: KTR) (FRANKFURT: 58V) is pleased to announce drilling results for the eastern portion of the Sherlock zone. Drilling in December focused on testing the four main horizons (A-D) which are stacked together in the Sherlock zone. Drill holes MS-37 to MS-39 were testing the south-eastern extensions of horizon A while hole MS-41 was primarily testing the north-eastern horizon C extensions. Drilling assays of hole MS-46, which was testing horizons B, C and D in the western extension, are pending.
"The eastern portion of the Sherlock zone was less worked with the only drilling and trenching to date being the Toby area. The December program validated our interpretation and fully opened up that area. Going from only horizon B to the East to now confirmed A, B and C horizons is a major success for our geological model and gives us the confidence to do another large step out to the East to add more mineralized material in what we believe is shaping up to be a large volume open pit potential project. Next steps would be confirming horizon D to the East and to keep extending the entire mineralized sedimentary sequence as we follow the main structure,” comments Kiril Mugerman, President & CEO of Kintavar.
The center point of the Sherlock zone is based on cross section 3+50 (Figure 1) and shows the new geological interpretation of the stacked horizons, their extension at depth and to surface. Drill hole MS-41, total length of 330m, which is on cross section 5+50 (Figure 2), was testing the extensions to the East where mineralization was yet to be identified on surface. The drilling result of 80.90m @ 0.19% Cu at a depth of 190m, including 51m @ 0.24% Cu, confirms the Corporation’s geological interpretation and opens the entire north-eastern portion of the Sherlock zone which has seen no trenching or drilling until now. Furthermore, the interval includes several mineralized zones a few of which are very high grade such as 5.8m @ 1.52% Cu and 2m @ 1.21% Cu. These zones are of particular interest as the Corporation advances its metallurgical and ore sorting test work.
In parallel to that work, shallow drill holes MS-37 (42.6m @ 0.16% Cu from surface), MS-38 (46.3m @ 0.20% Cu from surface) and MS-39 (extension of hole MS-38 to the south, 12.1m @ 0.19% Cu from surface, had to be stopped in mineralization at 36m due to technical problems) provided confirmations of horizon A extension to the East. That work will continue during the next exploration program.
Figure 3 shows the plan view of the local geology and the surface projection of the mineralized marble horizons.
|Drillhole||UTM X N83Z18||UTM Y||Azimut / Dip||Lenght (m)||From (m)||To (m)||Thickness(1)||Cu %||Ag (g/t)|
|Sherlock-South||MS-18-37||483757||5252923||N330 / -45||180||3.00||59.60||56.60||0.14||1.2|
|MS-18-38||483793||5252934||N330 / -45||141||4.70||51.00||46.30||0.20||2.0|
|MS-18-39||483798||5252940||N150 / -45||36||11.90||36.00||24.10||0.11||0.9|
|Toby||MS-18-40||483820||5253015||N000 / -45||114||Intrusive unit||NSV(2)||NSV|
|Sherlock-South||MS-18-41||483841||5252929||N330 / -45||330||4.30||24.50||20.20||0.11||0.8|
|Sherlock-South||MS-18-42||483814||5252973||N150 / -45||105||46.45||51.00||4.55||0.12||1.3|
|(1): True thickness is estimated at 45 to 80% of the intersected thickness|
|(2) : No significant value|
Table 1: assays for drill holes MS-37 to MS-42
All samples have been sent and prepared (PREP-31) by ALS Global laboratory in Val-d’Or. The pulp was sent to ALS Global laboratory in Vancouver for copper assays (CU-ICP61), silver assays (AG-ICP61) or a multi-elemental analysis by four acid digestion (ME-ICP61) and spectroscopy (ICP-AES/MS). Samples with assays higher than 10,000 ppm Cu were reanalyzed by atomic absorption (CU-OG62) at the ALS Global Vancouver laboratory. Quality controls include systematic addition of blank samples and certified copper standards to each batch of samples sent to the laboratory.
Alain Cayer, P.Geo., MSc., Vice-President Exploration of Kintavar, is Qualified Person under NI 43-1014 guidelines who supervised and approved the preparation of the technical information in this news release.
About Kintavar Exploration & the Mitchi Property
Kintavar Exploration is a Canadian mineral exploration Corporation engaged in the acquisition, assessment, exploration and development of gold and base metal mineral properties. It’s flagship project is the Mitchi property (approx. 30,000 hectares, 100% owned) located west of the Mitchinamecus reservoir, 100 km north of the town of Mont-Laurier. The property covers an area of more than 300 km2 accessible by a network of logging and gravel roads with a hydro-electric power substation located 14 km to the east. The property is located in the north-western portion of the central metasedimentary belt of the Grenville geological province. Many gold, copper, silver and/or manganese mineralized showings have been identified to date, with many characteristics suggesting of a sediment-hosted stratiform copper type mineralization (SSC) in the Eastern portion of the property and Iron Oxide Copper Gold (IOCG) and skarn type mineralization in the Western portion. Osisko holds a 2% NSR on 27 claims of the southern portion of the Mitchi property, outside of the sedimentary basin.
For further information contact:
Kiril Mugerman, president and CEO
Phone : +1 450 641 5119 #5653
Forward looking Statements:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains statements that may constitute “forward-looking information” or “forward looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking information and statements may include, among others, statements regarding future plans, costs, objectives or performance of the Corporation, or the assumptions underlying any of the foregoing. In this news release, words such as “may”, “would”, “could”, “will”, “likely”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate” “target” and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, including additional closings of the private placement referred to above, or if any of them do so, what benefits the Corporation will derive. Forward-looking statements and information are based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Corporation’s control. These risks, uncertainties and assumptions include, but are not limited to, those described under “Risk Factors” in the Corporation’s management’s discussion and analysis for the fiscal year ended December 31, 2017, which is available on SEDAR at www.sedar.com; they could cause actual events or results to differ materially from those projected in any forward-looking statements. The Corporation does not intend, nor does the Corporation undertake any obligation, to update or revise any forward-looking information or statements contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.