Montreal, Quebec, March 24, 2022 – – Kintavar Exploration Inc. (the “Corporation” or “Kintavar”) (TSX-V: KTR), is pleased to announce the recent completion of the summer drilling program on the MLI corridor and additional results from its surface exploration program on the Wabash project.
MLI Corridor
A 1,502m, 12 holes drill program has been successfully completed on the 1.5km long MLI corridor.
The objective of the program was to target the high grade mineralized horizon that was observed
in hole WAB-21-21 (1.01% Cu & 19.3 g/t Ag over 16.8m, see March 24, 2022 press release fordetails) and to better understand the stratigraphic sequence along this corridor.
The majority of the drillholes successfully intersected the same stratigraphic sequence that includes several marble horizons, up to 20m in thickness, and diopside gneiss (both mineralized and non mineralized) surrounded by barren and massive gneiss units. This fertile sequence can reach thicknesses of up to 70m as observed in some drillholes. Low-grade copper and polymetallic horizons are observed more to the east of the MLI corridor and followed by high grade copper and polymetallic horizonsto the west, similar to the sequence observed in hole WAB-21-21. Boudinage and folding of the mineralized marble horizons and diopside gneissis observed within the corridor. The disseminated mineralization is present in the form of bornite, chalcocite and chalcopyrite with galena and sphalerite present in the polymetallic units.
The drilling program followed up on the success of the early summer trenching program. Lara West and Lara South trenches exposed the high-grade units on surface with a channel intersection of 12.7m with 0.71% Cu, 30.1 g/t Ag, 0.23% Pb and 0.16% Zn on Lara West. This included an interval of 1.12% Cu, 42.0 g/t Ag and 0.19% Pb over 6.65m. Other high grade grab samples from both trenches included up to 2.9% Cu, 170 g/t Ag, 1.78% Pb, 0.33% Zn and 0.11 g/t Au. More details and the location of these samples and channels can be seen on Figure 1 below.
Regional targets
A small regional exploration program on the Wabash project continued throughout the summer. The team mostly focused on the large soil anomaly to the South-East of the MLI corridor and it successfully identified both mineralized outcrops and boulders. Some of the best results gave up to 4.79% Cu, 13.4 g/t Ag, 0.29 g/t Au and 0.12 g/t Co (Tr-GC007 on figure 1) while some assays are still pending. Other regional targeting programs are continuing throughout the summer and fall to try to identify other corridors similar to MLI.
“The MLI corridor was a priority target for this summer, and it has delivered. The stratiform sediment hosted mineralization was successfully traced for over 1km in the most recent drill holes confirming our interpretation. The assays from this program will help us better plan the follow up infill drilling on the MLI corridor as we keep advancing throughout the entire unit. Once we receive these results we will start planning the next drilling program which will most likely take place this fall or winter.” commented Kiril Mugerman, President & CEO of Kintavar Exploration.
Grab samples are selected samples and not necessarily representative of the mineralization hosted on the property. 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
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.
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:
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.
