Kintavar intersects 45m @ 0.45% Cu and 23m @ 0.57% Cu; Provides update due to COVID19 virus outbreak
Montréal, Québec, March 31, 2020 – Kintavar Exploration Inc. (the “Corporation” or “Kintavar”) (TSX-V: KTR) (FRANKFURT: 58V), is pleased to announced drilling results for drill holes MS-19-53 to MS-19-60. The drilling program has now been completed and all the samples have been sent out for assays before the provincial working restrictions due to the COVID19 virus took place. A total of 5,750m were drilled including 3,470m in the Sherlock area, testing the shallow dipping sedimentary units model, and another 2,280m were drilled in the Conan/Elementary and the SHK-34 trench area, investigating the zones discovered during the summer 2019 work. Results for the remaining 31 holes are expected in April.
- MS-19-54: 23.0m @ 0.57% Cu & 5.33 g/t Ag starting from 27.0m
- MS-19-56: 45.45m @ 0.45% Cu & 3.85 g/t Ag starting from 43.80m
- Mineralized zones envelope width varies between 50 and 75 m
- Mineralized zones intersected across 300m linear from South to North
- System remains open at depth to the North and laterally to the East and West
- Drilling results for additional 31 holes are expected in April
“The Sherlock zone continues to deliver thickness, grade and size. The interpretation from the structural work in summer of 2019 has been confirmed with this drilling program as we can see in both the long section and the cross section presented. Every single drill hole to date from this program successfully intersected the mineralized unit. We are very encouraged by this and look forward to putting the entire picture together with the upcoming remaining results.” comments Kiril Mugerman, President & CEO of Kintavar.
Drill holes MS-19-53 to 60 (shown in Figure 1), provided information that allowed to complete a long section (East to West) at the Southern part of the system or the beginning of the thickenings (Figure 2). The mineralized horizons begin at surface and is found within the first hundred meters of the surface as the system remains open to the west. In addition, these drill holes completed a full cross section that covers over 300m (North to South) that is fully cross cutting the mineralized envelope (Figure 3). Section 3+50E shows that the mineralized envelope has a thickness of 50 to 75m comprising of 3 to 4 horizons including the central horizon that can reach over 40m in thickness with a grade of around 0.50% Cu. The table below summarizes all these results.
|Zone Sherlock – Drill Holes MS-53 to 60 – Fall/Winter 2019|
|Drill Hole||UTM Nad83 z18||Dip / Az||From||To||Width*||Types||Grade|
|X||Y||(‘’F’’ Flotation vs ‘’S’’ Sorting)|
|MS-19-53||483634||5252915||-90||1.0||5.65||4.65||F||0.52% Cu & 3.54 g/t Ag / 4.65 m|
|13.5||31.9||18.4||S||0.22% Cu & 1.76 g/t Ag / 18.4 m|
|53.0||68.2||15.2||S||0.11% Cu & 1.03 g/t Ag / 15.2 m|
|MS-19-54||483624||5252949||-90||27.0||50.0||23.0||F||0.57% Cu & 5.33 g/t Ag / 23.0 m|
|83.1||93.0||9.9||S||0.32% Cu & 3.14 g/t Ag / 9.9 m|
|93.0||99.0||6.0||F||0.51% Cu & 4.55 g/t Ag / 6.0 m|
|MS-19-55||483614||5252996||-90||16.8||28.8||12.0||S||0.17% Cu & 1.58 g/t Ag / 12.0 m|
|42.0||50.2||8.2||F||0.45% Cu & 4.96 g/t Ag / 8.2 m|
|61.6||66.5||4.9||S||0.12% Cu & 2.23 g/t Ag / 4.9 m|
|66.5||72.25||5.75||F||0.51% Cu & 4.93 g/t Ag / 5.75 m|
|101.9||110.0||8.1||S||0.32% Cu & 2.99 g/t Ag / 8.1 m|
|124.0||131.87||7.87||S||0.21% Cu & 2.85 g/t Ag / 7.87 m|
|MS-19-56||483607||5253033||-90||43.8||89.25||45.45||F||0.45% Cu & 3.85 g/t Ag / 45.45 m|
|103.95||110.0||6,05||F||0.47% Cu & 4.38 g/t Ag / 6.05 m|
|110.0||114.0||4,0||S||0.15% Cu & 1.08 g/t Ag / 4.0 m|
|MS-19-57||483592||5253077||-90||78.5||85.75||7.25||F||0.46% Cu & 3.82 g/t Ag / 7.25 m|
|94.35||104.8||10.45||F||0.56% Cu & 5.5 g/t Ag / 10.45 m|
|155.15||160.15||5.0||S||0.16% Cu & 0.62 g/t Ag / 5.0 m|
|MS-19-58||483587||5253119||-90||118.3||123.9||5.6||S||0.28% Cu & 2.48 g/t Ag / 5.6 m|
|132.8||149.0||16.2||F||0.56% Cu & 3.95 g/t Ag / 16.2 m|
|199.6||217.1||17.5||S||0.11% Cu & 0.59 g/t Ag / 17.5 m|
|MS-19-59||483775||5252939||-45 / N175||3.0||7.0||4.0||S||0.13% Cu & 1.45 g/t Ag / 4.0 m|
|16.8||24.4||7.6||S||0.29% Cu & 2.57 g/t Ag / 7.6 m|
|MS-19-60||483829||5252940||-90||2.25||15.0||12.75||F||0.48% Cu & 4.64 g/t Ag / 12.75 m|
|* True width is estimated between 65 and 90% of the intersected width.|
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.
COVID19 Related Corporate Update
In light of the global COVID19 pandemic and the provincial regulations, all activity in the field has been suspended and operations at the Fer a Cheval outfitter and Kintavar camp have been reduced to minimum. All essential personnel are currently working from home on data processing, regulatory reporting and planning the exploration program for 2020. The Corporation remains well funded and is well positioned to sustain the current downturn in both the copper prices, the markets and the global economy that was caused by the COVID19 pandemic. Management will keep monitoring the current situation and will provide updates on the summer 2020 exploration program once more information is available from the provincial authorities.
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.
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