Montreal, Quebec, March 24, 2022 – – Kintavar Exploration Inc. (the “Corporation” or “Kintavar”) (TSX-V: KTR), is very pleased to announce the results for its 3 final Wabash drill holes from the drilling program that was completed in December 2021. These 3 holes targeted the GB1 mineralized zone that had been identified in the summer of 2021 and subsequently returned high grade results from surface (see press release September 28, 2021).
The GB1 zone presents a distinct mineralized context that was not previously observed either at
the Mitchi or Wabash properties. The mineralization is associated with semi-massive sulfides in
veins and veinlets. The mineralization is associated with an IP anomaly of at least 600m and
appears to be getting wider at depth. The exact geological context of mineralization remains to be
clarified with more work, but its characteristics currently are the presence of copper, gold, silver
and even cobalt and vanadium (up to 654ppm and 170 ppm respectively) at a geological contact
of two gneiss units. A total of three holes and a trench have now successfully intersected this unit
confirming that it remains open N-S and at depth.
To better understand the mineralization, the core at WAB-21-18 and WAB-21-19 had been
resampled and sent for assays which caused the additional delay in getting the final results. This
allowed management to better evaluate the grade in the actual mineralized intervals without
dilution from the encasing host rock.
The Corporation has now engaged a geophysics contractor to conduct a DeepEM survey which
can better identify massive and semi-massive sulfide mineralization at depth up to 500m. The
survey will help define targets for summer 2022 drilling program and results will be made available
to shareholders accordingly.
The same geophysical contractor will help conduct an IP survey on the MLI corridor which will
target the high-grade mineralized horizon intersected in hole WAB-21-21 (1.01% Cu & 19.3 g/t Ag
over 16.8m). All the geophysics work is expected to take place in May 2022 and the data will be
used for the summer 2022 surface and drilling programs.
“We are very encouraged having identified this high-grade hydrothermal-type mineralization that
remains open at depth and N-S. The first shallow investigations were positive, and we believe the
DeepEM survey will provide a better tool to target the widest zones of this mineralization. Having
this new geological context within the sedimentary basin is very encouraging. We are seeing that
multiple events have contributed to metal rich fluids circulation in the area, making the entire
region fertile for base and precious metals. The geophysical program should give us the needed
information to better target both MLI and GB1 mineralization and help us prepare for a successful
summer drilling program.” 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 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, 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.
Figure 1: Wabash property – Main Mineralized zones
Figure 1: Wabash Property – Summary of 2021 drilling campaign – MLI Corridor and GB1 zone
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:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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.