Montreal, Quebec, March 24, 2022 – – Kintavar Exploration Inc. (the “Corporation” or “Kintavar”) (TSX-V: KTR), is pleased to announce the results from the summer drilling at the MLI corridor and the exploration plans for the upcoming months at the Mitchi-Wabash district including follow up drilling at the Lara zone (Wabash project) targeting the high grade horizon and infill drilling at the Sherlock zone (Mitchi project), to bring it towards a maiden resource estimate.
Wabash – MLI Corridor
All the 6 holes along the 100m strike length within the Lara zone have successfully intersected the polymetallic mineralization with copper, silver, lead and zinc. From two (2) to four (4) mineralized marble and diopside gneiss horizons have been intersected in each hole with width ranging from 3m to 25m. Best intercepts include 5.35m @ 1.19% Cu and 28.4 g/t Ag within a wider intersection of 19m @ 0.59% Cu and 19.1 g/t Ag in hole WAB-22-22. A detailed table of the main mineralized intercepts can be seen below including the associated Pb and Zn grades. The drilling program targeted and successfully intersected the mineralization from surface and up to a depth of 75m. The long section in Figure 1 demonstrates the continuity of the mineralized zone at depth and laterally. Although the mineralization was intersected in all the holes, a strong variation in thickness and grade has been observed associated with structural controls. As a result, additional drilling to target the extensions of the high-grade zone are being planned for November and December.
Two drill holes were added into the Indiana zone which successfully demonstrated the extension of the MLI corridor for over 1km with the best intercept of 0.36% Cu and 39.6 g/t Ag over 8.45m in hole WAB-22-31. As can be observed in the detailed magnetics map (Figure 2), and already confirmed by trenching along the MLI corridor, the mineralization extends along the structure with local pinching and swelling (boudinage) structures and some faults. Additional drilling will be required to locate and connect the best mineralized horizons.
Mitchi – Sherlock zone
Following the review of all the mineralized zones identified to date (Mitchi: Sherlock/Watson, Elementary/Conan, Nasigon, Huard and Roccia, and Wabash: MLI, Wabash North (Cloutier), Richer and Cooper), the Corporation intends to gradually add infill drilling into various zones in order to bring them towards a resource estimate. In parallel to the drilling planned at Lara, an infill drilling program is being planned for the Sherlock zone. The Sherlock zone has already been demonstrated to extend for over 500m E-W and up to 300m N-S. The drilling will focus on areas with mineralization starting from surface and where thickness and grade are the most significant in the top 100m. The drilling program is expected to be completed by end of December. Permits are already in place for both Lara and Sherlock drilling programs.
“The Grenville geology presents challenges and amazing opportunities while the local infrastructure amplifies the potential of the entire region. The size of the stratiform copper basins combined with the local structural complexities have created many zones where the mineralization starts from surface. Over the last 5 years we discovered over 9 mineralized zones of interest with more zones still being worked on. With copper demand poised for significant growth over the next decade, it is now the perfect time to start adding infill drilling into some of our most advanced zones which will lead us to our first resource estimatesin the region. Additional metallurgical and sorting testwork is expected to take place over the next 6 months as well which will ultimately help better understand the economics of the Mitchi -Wabash district.” commented Kiril Mugerman, President & CEO of Kintavar Exploration.
All samples have been sent and prepared (PREP-31) by ALS Global laboratory in Val-d’Or. Gold is analysed in Val d’Or using fire assay method (AU-AA25) with gravimetric finish (Au-GRA21) for samples higher than 0.5 ppm Au. For base metals and silver, the pulp was sent to ALS Global laboratory in Vancouver for multi-elemental analysis by four acid digestion (ME-ICP61) with ICPAES finish. Samples with assays higher than 10,000 ppm Cu, Zn or Pb, or 100 ppm Ag were reanalyzed with over limits methods (CU-OG62, ZN-OG62, PB-OG62, or AG-OG62) at the ALS Global Vancouver laboratory. Quality controls include systematic addition of blank samples and certified copper standards to each batch of samples sent to the laboratory.
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. 39 000 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 and 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, 2020, 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.