MONTRÉAL, Oct. 18, 2021 (GLOBE NEWSWIRE) — Kintavar Exploration Inc. (the “Corporation” or “Kintavar”) (TSX-V: KTR), is very pleased to announce that it has secured all the necessary permits and approvals in order to begin a drilling program on the Wabash Copper project. With these in hand and drill rig secured, mobilization to the site will begin in early November. The initial drilling program is planned for 2,000 to 3,000 meters and is expected to be finished by end of December.
The objectives for this drilling program are to test the mineralization extensions at depth and as well to confirm mineralization distribution throughout the horizons, widths and stratigraphy of the sedimentary basin. The drilling program will mostly focus on the Cloutier, Lapointe, Indiana and the Cooper areas and the most recent discovery, trench TR-GB1, which had returned high grades on a moderate to strong IP geophysical anomaly. This IP anomaly extends for over 1.7 km and is among the high priority targets.
The radiometric geophysical survey announced in September 2021 has been completed and data is now being processed. The geological team is back in the field as of this week after the regional hunting season annual break. Work will continue on both access and drill pad preparations, trenching and field follow up over new results from September 2021. Assays are still pending for many samples from various trenches and the soil geochemistry programs that were completed in late August and September.
Summarized highlights from the Cloutier, Lapointe and the Indiana areas that will be drill tested in this program are presented below:
- Cloutier – TR-GB1
- 6.59% Cu, 58.7 g/t Ag & 0.66 g/t Au
- 6.29% Cu, 50.4 g/t Ag & 0.13 g/t Au
- 5.43% Cu, 42.5 g/t Ag & 0.35 g/t Au
- Lapointe – TR-07
- 7m @ 0.73% Cu, 20.5 g/t Ag @ 1.11% Mn
- 1.90% Cu, 155.0 g/t Ag & 0.55% Pb
- 1.87% Cu, 199.0 g/t Ag & 1.27% Pb
- 1.24% Cu, 143.0 g/t Ag & 0.66% Pb
“We have developed a very solid interpretation on the Wabash project with its unique geology of high grade metamorphic conditions over a sediment hosted deposit. Our knowledge will now be validated with drilling, which will provide new information on this unique deposit and correlate what we have already observed on surface. The next few months will be very exciting as we further expand the potential of the Wabash project.” commented Kiril Mugerman, President & CEO of Kintavar Exploration.
All samples have been sent and prepared (PREP-31) by ALS Global laboratory in Val-d’Or. Gold is analysed in Val d’Or using fire assay method (AU-AA25) with gravimetric finish (Au-GRA21) for samples higher than 0.5 ppm Au. For base metals and silver, the pulp was sent to ALS Global laboratory in Vancouver for multi-elemental analysis by four acid digestion (ME-ICP61) with ICP-AES finish. Samples with assays higher than 10,000 ppm Cu, Zn or Pb, or 100 ppm Ag were reanalyzed with over limits methods (CU-OG62, ZN-OG62, PB-OG62, or AG-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 – 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, 2020, 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.