Kintavar Begins 2019 Exploration Program on Mitchi Copper Project; Targets 5,000 Meter Drilling Program
June 20 2019 - 2:38PM
Kintavar Exploration Inc. (the “
Corporation” or
“
Kintavar”) (TSX-V: KTR) (FRANKFURT: 58V), is
pleased to announce the beginning of the 2019 exploration program
on the Mitchi stratiform copper project. The program is divided
into 3 main priorities: 1. Surface work to extend the
mineralization of the main Sherlock zone to the East and to the
West; 2. Continue surface exploration in the Elementary / Conan
zones and identifying new zones of mineralization within the
Sherlock corridor; and 3. Follow up drilling on both the Sherlock
zone and the Elementary / Conan zones.
Sherlock Zone Surface
Exploration
Surface exploration will focus on the
following:
- Sherlock zone – The main Sherlock
zone has provided the best mineralized intervals to date and
remains open to the East, to the West and at depth. Surface work
will focus on extending the mineralization in both directions and
to identify on surface horizons that were previously intercepted
only in drilling.
- Structural and lithological mapping
to identify extensions and similar structural thickening patterns
in proximity of the Sherlock zone
Elementary / Conan Zone Surface
Exploration
- Elementary / Conan zone – The
Elementary & Conan zone has been already confirmed to have
mineralization from surface while large soil anomalies have been
identified in 2018 that require extensive follow up. The strength
and the size of the anomalies suggests the presence of a large
target similar in size to the main Sherlock zone.
- Other regional targets within the
Sherlock corridor will be evaluated for their potential to host
significant size of mineralization and prepared for eventual follow
up by drilling
Sherlock Corridor Drilling
Once the surface exploration work is complete,
Kintavar is planning approximately 5,000 meters of drilling to
investigate primarily the Sherlock zone extensions followed up by
drilling on the Elementary / Conan zone.
In addition, the Corporation announces that all
the resolutions that were presented at the annual and special
meeting on June 20, were approved by the shareholders. These
resolutions include the nomination of the directors and the
auditors as well as the renewal of the Stock Option Plan.
Shareholders re-elected Kiril Mugerman, Mark
Billings, Pierre Bertrand, David Charles and Maxime Lemieux to the
Board of Directors.
Moreover, during the Board meeting, held after
the meeting, all members of management have been re-appointed to
their respective positions, and Mark Billings, David Charles and
Maxime Lemieux will continue to form the audit committee.
The Board of Directors has granted today 1,135,000 stock options
under its Stock Option Incentive Plan to directors, officers,
consultants and employees at an exercise price of $0.165 per share.
The options expire five (5) years from the date of grant on June
20, 2024.
NI-43-101 Disclosure
Alain Cayer, P. Geo., MSc., Vice-President Exploration of
Kintavar, is the 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
Email : kmugerman@kintavar.com Web: www.kintavar.com
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, 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.
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