Drilling Begins on New Mosher Gold Project; Update on Anik Gold Project
Montréal, Québec, April 21, 2021 – Kintavar Exploration Inc. (the “Corporation” or “Kintavar”) (TSX-V: KTR) (FRANKFURT: 58V), is very pleased to provide an update on the Corporation’s gold projects in the Chapais-Chibougamau area in Quebec.
New Mosher Gold project – Gitennes Exploration Inc. (GIT.V)
A diamond drill rig has been mobilized to the New Mosher Gold project and a first phase drilling program is planned for a minimum of 2,500 metres. The project had been optioned out by Gitennes in 2020 and who subsequently completed a field work program and conducted an Induced Polarization (“IP”) survey during this past winter. Drilling will initially target areas of high chargeability and geophysical anomalies that are associated with historic gold values in diamond drilling (see Figure 1). Anomaly A represents drilling intersects from the 1980’s (8.1 g/t Au over 0.25m and 1.87 g/t over 5.1m). Anomaly B represents drilling intersects from the 1950’s which included 3.40 g/t Au over 0.7m, 1.28 g/t over 3m.
NM IP Chargeability
Figure 1: New Mosher – IP Chargeability high (shown in pink) with associated features
Anik Gold project – IAMGOLD CORPORATION (IMG.T)
Following up on field work and a relogging program that had been completed in the fall of 2020, IAMGOLD completed 3D modeling and compilation work. This allowed to generate additional targets for this summer’s 2021 exploration program through the western part of the property, along the possible extension of the Nelligan deposit mineralized system and also the eastern portion of the property. An IP survey was conducted on the South-Western portion of the property; thereby facilitated updating the structural and geological interpretations. The summer field program will include till sampling, prospecting and surface follow up with a goal to identify the eastern extension of the Renard zone from the Nelligan deposit.
An initial drilling program of approximately 1,000m had been planned for the winter but was rescheduled. The program is now permitted and is ready to start in the 2nd half of 2021 as part of a larger drilling campaign.
Figure 2: Anik property – regional geology
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. 37,000 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 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, 2019, 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.