MONTREAL, Nov. 07, 2022 (GLOBE NEWSWIRE) — Kintavar Exploration Inc. (the “Corporation” or “Kintavar”) (TSX-V: KTR), is pleased to announce the start of the infill drilling program at the Sherlock Zone, Mitchi project. The drilling will serve to complete a maiden resource estimate on the project which will be performed by InnovExplo.
The drilling program of approximately 1,500 meters is expected to be completed by the end of November with assays to be received in Q1 2023. A timeline on filing the maiden 43-101 resource estimate will be provided once all assays are received. The program is targeting to collect additional geological information around the main mineralized zones within the top 100 meters and to extend some of the main horizons to the West and to the North where limited drilling data is available.
“The Sherlock zone gives us a great opportunity to show the potential of the Mitchi-Wabash district. The sedimentary basins we are exploring are very large with many of the mineralized zones starting from surface. The infrastructure in the region is second to none and the exploration potential continues to grow. We are excited to begin the resource drilling phase at Sherlock, the first zone our exploration team discovered when we started working in the region.” commented Kiril Mugerman, President & CEO of Kintavar Exploration.
The Sherlock zone hosts a sediment hosted stratiform copper mineralization. The copper-silver bearing horizons are predominantly mineralized with bornite, chalcocite and to a lesser extent chalcopyrite. Although the mineralization on surface can be traced for over 8 kilometers, the main zones of interest are structurally controlled where thickening of the horizons is present in the form of stacking and folding. The Sherlock zone, covering an area estimated at over 500m E-W and up to 300m N-S, is composed of multiple sub-horizontal mineralized horizons with thickness ranging from a few meters to over 50m.
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 – Wabash Properties
Kintavar Exploration is a Canadian mineral exploration Corporation engaged in the acquisition, assessment, exploration and development of gold and base metal mineral properties. Its flagship project is the Mitchi – Wabash copper-silver district (approx. 39 000 hectares, 100% owned) located 100 km north of the town of Mont-Laurier and 15 km East of the town of Parent in Quebec. Both properties cover an area of more than 300 km2 accessible by a network of logging and gravel roads with access to hydro-electric power already on site, major regional roads including railroad and a spur. The properties are located in the north-western portion of the central metasedimentary belt of the Grenville geological province. The projects primarily focus on sediment-hosted stratiform copper type mineralization (SSC) but include Iron Oxide Copper Gold (IOCG) and skarn type targets. Osisko holds a 2% NSR on 27 claims of the southern portion of the Mitchi property, outside of the sedimentary basin. Kintavar also has exposure in the gold greenstones of Quebec by advancing the Anik Gold Project in a partnership with IAMGOLD and several early-stage projects that were optioned by Gitennes Exploration.
Kintavar supports local development in the Mitchi-Wabash region where it owns and operates the Fer à Cheval outfitter (www.feracheval.ca), a profitable and cashflow generating operation where it employs local workforce. It as well works with local First Nations to provide training and employment.
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, 2021, 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.