“We are very pleased with these results. We see a strong correlation between these IP anomalies and the recently demonstrated 5km soil trend in the Cloutier-Lapointe area. The IP survey was limited to the main areas we knew based on the work completed in 2020 but we now clearly see that this survey will need to be extended further based on the potential size of the anomalies. The Richer area, the strongest soil anomaly on the Wabash property to date, was not covered at all by this IP survey but we expect to complete this in the near future. By combining the strength of the IP anomaly, soil anomaly and geological/structural anomaly, these 6 areas have been graded in terms of priority for the upcoming summer program. The 2 IP anomalies which are pending trenching assay results will be further evaluated as part of planning the first drilling program on the Wabash property. Traditionally, sediment hosted copper deposits are long and continuous which is exactly the confirmation we wanted to see from the soil and the geophysical surveys.” commented Kiril Mugerman, President & CEO of Kintavar Exploration.
“This thorough soil geochemical survey and data treatment allowed us to get a different perspective of stratiform units in the Grenville. Our surface exploration footprint for the upcoming summer program will be more than twice as large as anticipated. Being able to compare the Wabash geochemical signature to that of the world class African stratiform deposits is another testament to the success of our exploration team. To do that in the difficult high grade metamorphic conditions of the Grenville is even more impressive. We are looking forward to receiving all the remaining results and to proceed with initial drilling and the associated summer work programs on the Wabash project.” commented Kiril Mugerman, President & CEO of Kintavar Exploration.
“It has been an exciting first year as operators of the Fer à Cheval. The team has grown and as a result our footprint in the region has grown. We are a unique exploration company with exposure to such an exciting regional business activity that generates revenues, and that ties in so well with our exploration properties. Our most recent discovery of the Wabash project earlier this year solidified our geological model of stratiform copper mineralization in the region and we are now advancing our exploration activities as a copper district rather than as a stand-alone project. The FAC provides Kintavar with a solid foundation from which to base our exploration activities both at Mitchi and Wabash. I would like to take this opportunity to wish all our shareholders, stakeholders and employees of Kintavar and the Fer à Cheval, Happy Holidays and a healthy and prosperous new year in 2021.” commented Kiril Mugerman, President & CEO of Kintavar Exploration.
“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.”