News

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.”

“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.