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).
Figure 1: Sherlock zone 2019 trenches and grab
samples.
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.
Figure 2: Map of SHK38 trench with grades and
channel samples location.
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.
Trench |
Results |
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 AgChannel 2 =
5.9 m @ 0.57 % Cu and 7.1 g/t AgChannel 3 =
9.0 m @ 0.56 % Cu and 5.4 g/t AgChannel 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.
NI-43-101 Disclosure
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 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.
Maps accompanying this announcement are
available
at:https://www.globenewswire.com/NewsRoom/AttachmentNg/5dc54a67-92b4-4376-b576-f524077221cfhttps://www.globenewswire.com/NewsRoom/AttachmentNg/b4b1eede-8499-481f-aa76-0dd17e48313b
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