“The majority of this financing was subscribed by existing shareholders of the Corporation, a strong sign of support and confidence. Furthermore, the strength of the copper market and the future demand projections are pointing to a significant supply deficit. Global economies are injecting unprecedented amounts of funds in transport electrification and renewable energies, both sectors of significant copper demand. And lastly, the global pandemic highlighted the need to diversify supply sources and that includes base metals and copper. The district scale mineralization at Mitchi and Wabash discovered by Kintavar’s team highlights the potential for development in a world-class jurisdiction like Quebec. Our technical team is currently working on processing the soil geochemical data, Induced Polarization (IP) data from the ongoing geophysical survey and is still awaiting pending results from the trenches and channels that were completed late fall. Based on those results, the Corporation is targeting a maiden drilling campaign on Wabash in the first quarter of 2021. This will be followed up by further field work starting late spring and continuing throughout the summer.” commented Kiril Mugerman, President & CEO of Kintavar Exploration.
“We have completed a first detailed exploration campaign at the Wabash project and the sudden late autumn warm weather provided a very fortunate extension to our field program. The team worked very hard to complete a very significant portion of the exploration program to give us a great opportunity to drill the Wabash project this winter. We expect results from the IP survey and the channel samples in the coming months which will be used to plan the next exploration steps on this very promising project. Based on the work completed we see significant potential to delineate mineralized zones of large volume.” commented Kiril Mugerman, President & CEO of Kintavar Exploration.
“We are very encouraged by the fall exploration program. The visual observations at Wabash, the discovery of new trenches and the initial anomalies coming out from the soil survey are all indicative of a potential important discovery. The work and the observations by the geological team, lead by Alain Cayer, have consistently revealed that mineralization starts from surface and can be traced to over 2.5km long within a corridor that is over 80m wide in the north and over 200m wide in the south. The corridor remains open in all 4 directions. The mineralized units appear to be generally dipping 35° to 45° to the N – NNW. These first channel samples will provide a better grade estimate and the continuity of the mineralized units. The knowledge gained from the Mitchi project is facilitating to fast track the Wabash project. We are looking forward to getting back results in the near future to be able to plan the next stage of the exploration program.” commented Kiril Mugerman, President & CEO of Kintavar Exploration.
The identified mineralization shows several similarities as well to the world class Zn-Pb-Ag-Mn-Cu Hermosa project in Arizona, US that was acquired by South32 from Arizona Mining in 2018 for $2.1B. The Hermosa project is comprised of several underground stratabound deposits, each having a distinctive enrichment pattern in these five metals.
“Kintavar continues to leverage its exploration experience in Quebec and to gradually divest its non-core assets while gaining exposure to gold exploration through those transactions. We are very excited to work with Gitennes who recognized Quebec as a mining-friendly jurisdiction and the gold exploration potential in this province.” commented Kiril Mugerman, President & CEO of Kintavar Exploration.
Kiril Mugerman, President & CEO of Kintavar Exploration. “The Mitchi property does not lack exploration targets. In fact, the recent identification of the new gold and cobalt trends complement and adds to our traditional copper mineralization. This is very significant for Kintavar as it provides a new range of targets and a new area to explore. Furthermore, we are evaluating higher grade copper targets within trucking distance of Mitchi in order to be able to consider all these zones ultimately under one resource estimate of significant size. The objective would be to advance these new targets to a drilling stage as quickly as possible and to bring them to the level we currently have at Sherlock. The infrastructure and the location of the Mitchi project is its main advantage allowing to work multiple zones in order to build up a large resource.”
“First off, I would like to thank Pierre for his service and guidance that he provided to Kintavar since the early days of the Corporation. His knowledge and experience in the Quebec mining and exploration industry are second to none and we wish him the best moving forward. With that said, our work over the last 3 years on the Mitchi project has attracted high caliber, experienced mine developers such as Guy and Richard. Not only that both these candidates have tremendous copper experience, they have both recently put mines into production and their knowledge and experience will be vital in advancing the Mitchi project in the future towards that same development. The infrastructure and access of the Mitchi project is a major advantage of our project and as copper prices rebound in the coming years and our exploration team continues to delineate the best mineralized zones from surface, the project will be well positioned towards development. Although we still have a lot of work to do on the ground, the knowledge that Guy and Richard bring will help guide our exploration efforts towards that next stage.” commented Kiril Mugerman, President & CEO of Kintavar Exploration.
“We are very excited to have reached an agreement with IAMGOLD on the Anik gold project. Since its discovery in 2014 by our technical team, we have observed regional developments which have laid the foundation to create the next potential mining camp in Quebec. With IAMGOLD leading the way on the adjacent Nelligan project and other assets in its vicinity, this further consolidation with the Anik gold project will help further advance mining development in the Chapais-Chibougamau area. Partnering with a major having a reputation such as IAMGOLD to advance the Anik gold project, Kintavar shareholders will have significant upside exposure to one of the most active gold exploration regions in Quebec” commented Kiril Mugerman, President & CEO of Kintavar.
“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.