MONTREAL, May 03, 2021 (GLOBE NEWSWIRE) -- Kintavar Exploration Inc. (the “Corporation” or “Kintavar”) (TSX-V: KTR) (FRANKFURT: 58V), is very pleased to announce the start of the spring program at its fully owned Wabash copper-silver project in Quebec. The mineralized zones will undergo a thorough surface program followed by the initial drilling program.
Since the Wabash discovery in the summer of 2020, a large amount of geochemical and geophysical data has been processed and compiled along with the trenching information from November 2020. As a result, an exploration program has been designed to aggressively advance the Cloutier-Lapointe area towards drilling, to develop the Richer area in the South and to expand the mineralization beyond the currently identified 7 km footprint.
Cloutier – Lapointe Area
The Cloutier-Lapointe area now has a dozen high priority targets identified, with the majority along strike and that potentially could be connected with over 3.5km in length. Connecting these targets and demonstrating wide mineralized horizons is top priority to bring this area to drill ready. Figure 1 highlights the main anomalies and the trench results to date. Best channel intersection is 0.73% Cu, 20.5 g/t Ag and 1.11% Mn over 7m. Gold and zinc anomalies have also been identified along some of the copper-silver horizons.
The following main activities are planned for the upcoming months at Cloutier-Lapointe area:
- Trenching at the high priority targets
- Extensions of the mineralized trenches from November 2020
- Selection of the drilling targets & ground preparation
- Follow up on gold and zinc mineralization
- Structural work to better understand the influence of faults and folding on the basin geometry and mineralization continuity
- Stratigraphic work to better understand the basin sequence and identify potential marker horizons
- Planning of IP extension survey
The Richer area, 2km south of Cloutier-Lapointe and along strike, is a high priority large soil geochemical target. The anomaly area has not been worked by Kintavar and no mineralized outcrops have been identified to date. Two main objectives are set for the Richer area: identifying mineralized showings and connecting the mineralization to the Cloutier-Lapointe area.
The following main activities are planned for the upcoming months at Richer area:
- Infilling the detailed soil geochemistry grid between Cloutier-Lapointe and Richer areas
- Prospecting to identify mineralized outcrops
- Initial trenching
- Planning of IP survey
- Continuation of trenching or drilling depending on IP results and the progress at Cloutier-Lapointe
Property wide regional exploration program that was started in September of 2020 will continue as well in order to locate the extensions of the mineralized horizons observed at Cloutier-Lapointe and Richer areas. In addition, work will continue on the Mitchi project focusing mostly on soil geochemistry to identify similar deeper horizons to those observed on the Wabash project.
“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.
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. 37,000 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.
Figure 1: Summary of anomalies at the Wabash Copper-Silver project
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.
For further information contact:
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.