“We have been chasing that strong IP anomaly all summer and we finally have clipped it by its tail. These are the highest grades discovered so far on the Wabash property. They explain the IP anomaly that we had observed in the area and which now gives us the confidence that IP can be used as a reliable tool to use on the property to confirm new zones going forward. The consistent grade in all three metals (copper, silver and gold) all along the favorable horizon gives us great confidence and we are very excited to be drilling this IP target very shortly. Wabash offers a great variety including low grade horizons, polymetallic units with zinc and lead, high grade silver units and now most recently high-grade copper units with gold. With over 1.7 km of this IP anomaly to target and more than 4 km of favorable stratigraphy intercepted by over 20 trenches, the Wabash project offers a unique and potentially huge system to explore in central Quebec.” commented Kiril Mugerman, President & CEO of Kintavar Exploration.
“With the Gaspard Nord transaction now completed we have successfully optioned out or sold all our properties in the Chapais-Chibougamau gold area. We are committed to creating value to our shareholders whether by exploration or through strategic transactions. We have now accumulated a healthy equity portfolio that will help limit dilution for shareholders.” added Mugerman.
“The Cooper discovery further confirms and demonstrates the vast potential of Wabash. Working in the Grenville geological province is challenging due to its high degree of metamorphism and structure but the thorough exploration work by our technical team allows us to move forward nonetheless. Additional exploration work remains to be done to confirm that the Cooper zone connects with the rest of the mineralized areas. In the meantime, assays for the work completed in July and August are expected in September and October. This data will help finish planning the upcoming drill program and the next stages in the exploration program on Wabash.” commented Kiril Mugerman, President & CEO of Kintavar Exploration.
“The Indiana area was a pleasant surprise because it was located outside of the expected mineralized footprint. The results from Indiana are now taking it to another level when put in the geological context. We are seeing enrichment in silver that takes it to higher grades than those observed in the world class Kupfershiefer deposits in Poland. The enrichment in lead is an interesting bonus and to top it all off we have yet another indicator of a potential secondary enrichment in gold with 2.43 g/t Au. We have seen many grab samples throughout the property with up to 0.2 g/t Au and this sample now confirms this hypothesis. Furthermore, we are seeing from Indiana indications that the stratigraphic unit with favorable lithologies is significantly wider than what was originally observed at Trenches 1 through 7.” commented Kiril Mugerman, President & CEO of Kintavar Exploration.
“The summer program is advancing as planned with new identified mineralization on surface confirming our geological interpretation. Identifying the thick and strongly mineralized units at Indiana confirmed that a sequence of various mineralized horizons of tens of meters is present that saw various degrees of mineralized fluids circulating. That is important in order to obtain the targeted 50 m width of mineralization and as well indicates that some high-grade units could be part of the sequence. Furthermore, the current work is covering less than 25% of the property and following the recent mineralized discoveries, which remain open, the mineralized horizons could extend well beyond the current 4 km. We are looking forward to complete the current program and begin preparing for the initial drilling program on the Wabash project.” commented Kiril Mugerman, President & CEO of Kintavar Exploration.
Shareholders re-elected Kiril Mugerman, Mark Billings, David Charles, Guy Le Bel, Richard Faucher and Maxime Lemieux to the Board of Directors. Moreover, during the Board meeting, held after the meeting, all members of management have been re-appointed to their respective positions and Mark Billings, David Charles and Richard Faucher will form the audit committee.
“The Mitchi-Wabash district scale of stratiform copper-silver projects offers investors a unique investment opportunity to participate in several large-scale projects with world class infrastructure, mining friendly jurisdiction, strong institutional and local support and a nearby copper smelter accessible to the project by rail and road. With no primary copper production in Quebec, the government has identified copper as part of its strategy to develop critical and strategic minerals in the province. Kintavar is well funded and offers an extremely attractive opportunity for investors to have copper and silver exposure.” commented Kiril Mugerman, President & CEO of Kintavar Exploration.
Drilling Begins on New Mosher Gold Project; Update on Anik Gold Project
“The Wabash copper-silver property is demonstrating excellent potential. We are seeing the first confirmation of higher-grade horizons with 0.73% Cu and 20.5 g/t Ag over 7m that remain open to the West. The strongest and the biggest IP anomaly that measures over 1km long by 250m wide and several other significant anomalies have not yet been tested and will be priority targets for the upcoming exploration program. We wanted to get as much data as possible from Wabash before winter started. We followed what we had at the time and had made excellent progress. Now, from combining the channel results and the geophysical data, we can see that mineralization has good correlation with the IP anomalies and that we are working with various horizons. The right conditions appear to be there to identify a significant width copper zone at surface over several kilometers. The objective for Wabash is clear now: identify the best copper and silver horizons, follow them and build up volume.” commented Kiril Mugerman, President & CEO of Kintavar Exploration.
“The polymetallic nature of Wabash is of particular interest here.” added Mugerman. “Zinc was identified in 27 samples with grades above 0.1%. Gold is not commonly found in this type of deposit but it appears the Grenville geology had some influence here as can be seen by the 6 samples that returned gold grades above 0.1 g/t in additional to their copper and silver grades. Manganese, an important metal for Li-ion batteries with no production in North America, is present across all the units with an average grade of 0.6% Mn. Some anomalies in cobalt and lead have been identified as well. No follow up on Au, Zn, Mn or Co has been done to date on the property but will be part of the scientific research and exploration program in 2021.”