Montreal, Quebec, March 03, 2023 – Kintavar Exploration Inc. (the “Corporation” or “Kintavar”) (TSX-V: KTR), is pleased to announce the remaining results from the infill drilling at the Mitchi project, Sherlock zone, that was completed in December 2022. The results include 8 drill holes that were targeting the Eastern and Southern portion of the open pit shell target, or the shallow portion of the mineralization. In addition, the Corporation announces the beginning of winter drilling by IAMGOLD Corporation (IAMGOLD) on the Anik Gold Project.
The second half of the drilling program focused on infill in the Southern portion where the mineralization starts from surface. All the six holes in that portion successfully intersected the targeted mineralization. All the drill holes intersected multiple horizons of this mineralization and the combined thickness in these horizons often adds up to over 35m. Figure 1 presents some of the highlight intersections per each hole. In addition, two drill holes (MS-22-102 and MS-22-103) targeted to extend the North-Eastern limits of the open pit shell target. Both holes successfully extended the mineralization with MS-22-103 intersecting 0.63% Cu, 7.0 g/t Ag over 20.15m. Figure 3 shows the 425E cross section with these results.
“The 2022 fall/winter drilling program on Sherlock was very short but very successful. We managed to infill the main zones to allows us to produce the first resource estimate on the Sherlock zone while extending the mineralization to the North at depth and to the East from surface. The geological and structural understanding improved and we are now planning the next stages of exploration and development of the Mitchi-Wabash district as a hub and spokes mining model.” commented Kiril Mugerman, President & CEO of Kintavar Exploration.
In addition, Kintavar is very pleased to announce that IAMGOLD has begun its winter drilling program on the Anik Gold Project in the Chapais-Chibougamau region of Quebec. The Project has been optioned out to IAMGOLD (see press release May 28, 2020) where it can earn in up to 80% interest. Following the successful drilling program in 2022 and another summer exploration program on the Project, three main areas of high potential are being evaluated with this drilling program: Opawica West, Bobby South and Dantin (See Figure 3). A program targeting 2,000 to 2,700m and 6 to 9 drill holes has been planned for this round of drilling, depending on the winter conditions.
The drilling program will test the continuity of the various zones as they extend from the Nelligan deposit structural corridor, extensions of the mineralization intersected in 2022, some IP anomalies related to gold-in-soil anomalies and evaluate the Dantin zone that represents a potentially favorable target resembling the conditions at the Nelligan deposit (structural,
geophysical and geochemical anomaly).
“Our main gold project Anik is continuing to advance. The results from last years’ drilling program and the summer exploration program appear to be very promising. This drilling program should provide very exciting results. The gold market is favorable now and the amount of exploration and development activity in the project region is very high.” added Mr. Mugerman.
All samples have been sent and prepared (PREP-31) by ALS Global laboratory in Val-d’Or. 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 ICP-AES 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, ZNOG62, 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.
NI-43-101 Disclosure
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.
Figure 1: Sherlock zone with main intercepts from previous drillholes and the location of the infill drill hole collars from November 2022 campaign. (pdf)
Figure 2: Sherlock zone – Cross section 425E showing the North-Eastern extension of the mineralization. (pdf)
Figure 3: Anik project proposed drilling targets (pdf)
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
Email: kmugerman@kintavar.com
Web: www.kintavar.com
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, 2021, 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.
