MONTRÉAL, Oct. 10, 2019 (GLOBE NEWSWIRE) -- Kintavar Exploration Inc. (the “Corporation” or “Kintavar”) (TSX-V: KTR) (FRANKFURT: 58V), is pleased to announce the first results from its summer 2019 exploration program.
The highlights include:
- 5 trenches were on the Sherlock mineralized zone
- Trenching has now expanded the Sherlock mineralization zone on surface by an additional 100 meters of extension to the west and east. The zone can now be followed on surface for nearly 500m
- Sherlock Zone continues to remain open in both directions and at depth
- Channel sampling of the marble horizons carry a copper grade of over 0.5%
- Significant channel samples delivered
- 0.40% Cu and 3.5 g/t Ag over 30.5m;
- 0.56% Cu and 5.8 g/t Ag over 10.0m;
- 0.56% Cu and 5.4 g/t Ag over 9.0m; and
- 0.57% Cu and 7.1 g/t Ag over 5.9m
- 15 Grab samples returned grades between 0.27% Cu and 1.62% Cu
There were 3 main objectives for this exploration program, all focusing on the Sherlock corridor:
- Investigate the surface extensions of the Sherlock mineralization and to improve the geological understanding of the copper system – the current set of results is described below;
- Follow up on the strong soil anomalies in the Elementary region that were discovered in the fall of 2018 and further expand the exploration in that region – several exciting showings were identified in that region during this summer. Results are pending and expected in the coming weeks. The Elementary region represents the second potential large volume region in the Sherlock corridor that the Corporation has identified.
- Continue regional exploration in the Sherlock corridor – main objective is to connect the marble zones and the zones such as Sherlock and Elementary. Numerous new zones were discovered during the summer. Assays are pending and data compilation is ongoing with results expected in the fall.
“The 1st objective of the summer exploration program has now been achieved. Trenching was successfully used again to extend mineralization on surface to the West and to the East. Further extensions would now have to be investigated by drilling due to proximity to streams and increased overburden. In addition, we were able to identify on surface the northernmost mineralized marble horizon to date, 350 metres north-east of the Sherlock trench. And most significantly we were able to open up the largest trench on the Mitchi project to date that gave us a better understanding of the structural controls on the project. SHK38 trench is an eye opener and really gives an insight into the potential of the Mitchi project targeting the near surface mineralization. The consistent grades within the marbles and the distinct separation of the non mineralized lithologies are a significant advantage in applying selective mining methods to a project such as Mitchi.” comments Kiril Mugerman, President & CEO of Kintavar.
“The structural interpretation suggests a much more sub-horizontal mineralization envelope associated with backthrusts faults in this particular setting. The associated thickening through folding and stacking of mineralized units will be tested during the upcoming 5,000 meters drilling program that the Corporation originally planned for late summer. As a result of discovering this structural setting, the drilling program has been moved to November 2019 to allow for all the assays to come in and to complete the data compilation. We are excited by this new structural information as it can change significantly the mineralization model and contribute to a simpler geometry and most importantly to a larger resource estimation in the future. The company has an initial exploration target of between 1 and 2 billion contained pounds of copper in the ground with grades between 0.5% and 1% Cu in several zones such as Sherlock, Elementary and other near surface zones. Our project is favorably located in Quebec, a safe and stable mining jurisdiction, and the Corporation already owns major infrastructure on site such as a high voltage power line, fuel station and a camp with over 100 accommodations that it currently operates for other activities in the region contributing to local development.” added Mr. Mugerman.
The exploration target disclosed in this press release, in terms of quantity and grade, is conceptual in nature. There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource. This target is based on recent drilling and trenching results and continuity of mineralization as observed on surface and in drilling.
The current set of results is from five (5) trenches in the Sherlock mineralized zone (Figure 1).
The main trench at the Sherlock zone from the summer work, SHK38, was following up on previous drilling and it provided a first 3-Dimensional view of the thrust and backthrust faults, oriented East-West with a movement or stacking from north to south. The thickening through folding and stacking of these mineralized marble horizons continues to the west towards the Sherlock and Watson zones while plunging at 25°. Currently the folding, and the thickening of mineralization, that is present in the Sherlock area can be followed on surface for nearly 500m east to west and remain open in both directions.
The results of the 4 channel samples from trench SHK38 are all presented in the following table and Figure 2. The plan view shows that the marble horizons carry a copper grade of over 0.5% while the diopside gneiss units have significantly lower grades. The other trenches in the area successfully identified the corresponding marble horizons and were sampled with grab samples. All the results are presented in the table below.
The mineralized units that were intersected in drill hole MS-19-46 during the winter drilling program (see press release February 27, 2019), were identified on surface in trench SHK46, located 80m to the west of the drill hole. Four (4) grab samples were collected from north to south over 75 meters long which returned grades between 0.29% and 1.42% Cu. Two additional trenches, SHK03 and 08, were sampled with grab samples over 125m long from north to south with seven (7) samples returned grades between 0.29% and 1.60% Cu. Those grab samples may represent different lithologies and mineralisation from the Sherlock zone, the same variation as observed in drill holes in the area.
Another trench, SHKN02, located 350m north of the Sherlock zone was following up on strong copper soil anomalies. The mineralized sedimentary units were successfully identified and four (4) grab samples returned grades of 0.27% to 1.62% Cu.
|SHK38*||Channel 1 = 30.5 m @ 0.40 % Cu and 3.5 g/t Ag
Including: 10.9 m @ 0.50 % Cu and 4.3 g/t Ag
and 5.0 m @ 0.63 % Cu and 5.3 g/t Ag
and 4.6 m @0.56 % Cu and 5.5 g/t Ag
Channel 2 = 5.9 m @ 0.57 % Cu and 7.1 g/t Ag
Channel 3 = 9.0 m @ 0.56 % Cu and 5.4 g/t Ag
Channel 4 = 10.0 m @ 0.56 % Cu and 5.8 g/t Ag
and 8.5 m @ 0.51 % Cu and 4.7g /t Ag
|SHK03||Grab samples of 0.30%, 0.33%, 0.80% and 1.60% Cu|
|SHK08||Grab samples of 0.29%, 0.44% and 0.65% Cu|
|SHK46||Grab samples of 0.29%, 0.35%, 0.55% and 1.42% Cu|
|SHKN02||Grab samples of 0.27%, 0.49%, 0.54% and 1.62% Cu|
|The true thickness of the intersections is estimated at 40 to 90% of the length of the channel (from north to south)|
Table 1: Copper grade of channel and grab samples from the Sherlock zone – summer 2019
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.
Grab samples are selected samples and not necessarily representative of the mineralization hosted on the property.
Alain Cayer, P.Geo., MSc., Vice-President Exploration of Kintavar, is Qualified Person under NI 43‐101 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:
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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, 2018, 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.