I mentioned on my January 21st podcast that as a result of news put out by Kintavar Exploration (KTR on the TSX-V) on January 18th that I had purchased shares in the company. I’ve continued to buy shares this week even though the share price is at 52 week highs. I usually don’t like to buy a stock after it has already gone up nearly 100% from my initial purchase just a week ago but after further research that’s exactly what I have done. I added once I had the chance to go back and read several of the company’s past press releases in detail showing the potential scale of this emerging copper discovery in Quebec.
Here is the story in a nutshell (54 million shares out - $19 million market cap):
• A sediment hosted copper/silver project
• Entire sedimentary basin secured
• Similar mineralization (with similar copper/silver sampling grades) in three corridors over 20km
• Just wrapped up initial drill program at Watson/Sherlock – mineralization starts near surface with previous channel sampling of 0.5% - 1.0% copper with minor silver
• Assays to start coming out the next week or two and run for the next month
• In total, 10 of the 12 drill holes intercepted the favorable lithologies with copper mineralization in the form of bornite and chalcopyrite. Out of these holes, seven holes intercepted several tens of meters of copper mineralization.
• Again, similar mineralization (higher copper grades of 1%-4%) has been sampled as far as 20 km northeast in the basin at Nasigon (in the northeast of KTR claims)
• Copper sedimentary basins not previously seen in Quebec but are found in the Central African Copperbelt in the DRC – typically narrow-flat lying deposits
• If assays show grades of 0.5-1.0% copper near-surface over widths of 10-30 meters this opens up the potential that the entire basin over 25 km may be prospective for near-surface copper and multiple open pits.
• Copper can be easily trucked to a nearby smelter
• A drill map will be released with the first set of assay results
Please see the company’s new corporate presentation from January 2018 at - http://kintavar.com/wp-content/uploads/CORP_PRES/KINTAVAR_EN_LD.pdf
The only way to appreciate the work that has been done over the past year and to fully grasp the potential of this 25 km sedimentary basin is to read the past several press releases in detail. They are full of information that caused me to buy shares at 52 week highs. Once you get an understanding the potential size of this play it all comes down to the assays that are about to be reported. If the assays show grades of 0.5%-1.0% copper with minor silver then it is game on.
Below are the press releases and key sections that really underline the potential (oldest to newest):
2017-06-05 10:08 ET - News Release
Mitchi (previously WHN/Boisvert) and Cousineau properties
Over the last several months, the technical team focused on data compilation of the entire property, which today covers 362 claims and 210 square kilometres. More than seven different geophysical surveys (magnetics/EM, gravity, IP and max/min) dating back to 2002 are being treated together with four different sets of soil sampling programs dating back to 2007. Those surveys were realized from 2002 to 2015, but they had minimal or no ground follow-up at all. The levelling and compilation of all these geophysical and geochemical data are being used to identify the sectors of highest priority for the coming three-month field program that will focus on trenching and channel sampling. This is expected to be followed up in the fall by a detailed surface IP and magnetic survey with the expectation for a drilling program during the winter season.
Kintavar Exploration samples up to 2.87% Cu at Mitchi
2017-09-26 12:03 ET - News Release
Mr. Kiril Mugerman reports
KINTAVAR DISCOVERS THE SHERLOCK CU SHOWING 540M EAST OF WATSON AND IDENTIFIES A FOLDED SEDIMENT-HOSTED STRATIFORM CU-AG-MN MINERALIZED SYSTEM
Kintavar Exploration Inc. has released the first results from the summer 2017 exploration campaign. The work completed during the campaign, including the follow-up of the copper showings in the Eastern portion of the Mitchi property, helped identify a sediment-hosted stratiform copper-silver-manganese mineralization within a siliceous dolomite unit. This helped establish a connection between the various showings such as Watson/Sherlock, Nasigon and Hispana. The mineralized horizons were folded and metamorphosed creating subkilometric areas of thickening. Such thickening is well documented to generate open-pit mines in the Grenville geological province, such as the iron ore mines in the south of Labrador and Quebec and the Lac des Iles graphite mine, located in the Mont-Laurier region, only 120 kilometres to the south of the Mitchi property.
• Sherlock showing -- seven grab samples from an area covering 300 square metres grading between 1.14 per cent and 2.87 per cent copper and five grab samples grading between 1.14 per cent and 2.05 per cent manganese;
• Watson showing -- channel sample of 13.6 metres of 0.54 per cent copper, 5.29 grams per tonne silver and 0.57 per cent manganese (0.76 per cent copper equivalent*), remains open in all directions;
• 540-metre distance between the two showings within the same folded sedimentary sequence;
• Folded mineralized horizons make over-10-metre-thick intervals.
In the western portion of the property, polymetallic mineralization with copper-silver plus or minus gold, nickel, cobalt, tungsten and locally rare earth elements was identified. Mineralization is associated with magmatic lithologies and locally with potassic alteration.
Mitchi property, eastern sector, Watson and Sherlock showings (copper, silver and manganese)
Surface work on the Watson showing exposed a sequence of marbles, phlogopitic glimerites and diopsidite with bornite, covelite, malachite and trace of chalcopyrite mineralization. The lithologies appear to have been folded, creating a thickening of the mineralized horizons, while their true width still remains unknown. A continuous composite channel sample of 13.6 metres returned grades of 0.54 per cent copper, 5.29 per cent silver and 0.57 per cent (0.76 per cent copper equivalent*) and a second channel sample eight metres to the west gave 0.61 per cent copper, 6.02 grams per tonne silver and 0.53 per cent manganese (0.83 per cent copper equivalent*) over three metres. Both channel samples remain open in all directions.
At a distance of 540 metres to the east of Watson, the identification of copper/silver/manganese mineralization led to the discovery of the Sherlock showing. A total of seven grab samples from an area of 20 metres by 15 metres returned grades of 1.14 per cent to 2.87 per cent copper and up to 39.0 grams per tonne silver while five samples returned grades of 1.14 per cent to 2.05 per cent manganese. In that area, an historical channel was graded at 0.45 per cent copper over 5.5 metres. The attached table summarizes the best grades from the grab samples, including the copper equivalent* grade. The manual trenches revealed the same lithologies as those present at the Watson showing with the mineralized marbles, glimerites and diopsidite folded, thus creating a thickening of the lithological sequence. The higher copper grades typically correspond to marble and diopsidite horizons while the higher manganese grades correspond to glimerites. The same mineralized and folded lithological sequence has been observed at the Watson, Nasigon, Hispana and the Sly showings although with a certain zonation of copper minerals (bornite, covellite, chalcocite and chalcopyrite).
Samples Cu Ag Mn CuEq
(%) (g/t) (%) (%)
V640373 1.74 14.9 0.21 1.94
V640374 1.14 10.8 0.28 1.32
V640375 1.57 28.6 0.29 1.91
V640376 1.53 37.2 0.23 1.93
V640377 1.17 10.8 0.19 1.32
V640378 2.64 39.3 0.33 3.09
V640379 2.87 37.8 0.38 3.32
V640858 0.8 11 2.05 1.53
V640859 0.41 6.1 1.38 0.89
V640860 0.75 10.9 1.75 1.39
V640861 0.42 8 0.28 0.58
V640865 0.43 5.9 1.34 0.9
V640866 0.24 2.5 1.14 0.62
V640867 0.14 0.4 0.84 0.41
* Copper equivalent grade is presented for information purposes only and is not indicative of management's opinion on the potential metallurgical recoveries or future commodity prices. The copper equivalent grade demonstrates that silver and manganese play a limited role in the overall grade. Copper equivalent grades including silver and manganese values are based on 100-per-cent metal recoveries, copper price of $3 per pound, silver price of $18 per ounce and manganese price of 93 cents per pound. Copper equivalent grade calculation is as follows: Copper equivalent is equal to (copper per cent plus (silver grade multiplied by silver price)) divided by (22.0462 multiplied by copper price multiplied by 31.0135 grams per tonne) plus (manganese grade multiplied by manganese price divided by copper price).
Two additional outcrops returned grades of copper/silver/manganese in grab samples. The first one, located 200 metres east along strike from Sherlock, graded at 0.8 per cent copper and 11 grams per tonne silver (0.9 per cent copper equivalent*) while the second one, located 300 metres northeast of Watson, graded up to 0.83 per cent copper, 6.3 grams per tonne silver and 0.62 per cent manganese (0.9 per cent copper equivalent*).
The corporation completed a quality control study in order to investigate a potential supergene enrichment. Several deep channels were completed with the sample later cut in two. The upper and the bottom portions of the sample were analyzed individually in the laboratory. The assays do not suggest a supergene enrichment. Furthermore, a review of the drill logs completed in 1971 by Noranda on the property shows that copper mineralization continues at depth and that several of these historical drill holes are mineralized the entire length of the hole (100 feet deep, or 30.48 metres). Drill hole No. 13 returned grades of 0.49 per cent copper and 14.0 grams per tonne silver (0.61 per cent copper equivalent*) over 9.75 metres (32 feet) starting from a depth of 14.30 metres (47 feet).
"The identification of a sediment-hosted stratiform copper/silver/manganese system is very encouraging. The effects of the Grenville metamorphism and deformation that helped mask and preserve this system for all those years played an important role in creating thick mineralized zones that could prove to be economic and minable using traditional open-pit methods. This type of deposit has never been exploited in Canada, and we are excited to be working on a potential major multikilometre system. The location of the property, adjacent to road and power infrastructure and 50 kilometres from a railroad in Parent, will be important factors in helping advance this project forward. The Watson and Sherlock corridor that now extends a significant 540 metres will be the subject of trenching, channel sampling and detailed ground magnetics and induced polarization (IP) studies in the coming months in preparation for a drilling program during the upcoming winter," commented Kiril Mugerman, president and chief executive officer of Kintavar Exploration.
Mitchi property, western sector, porphyry/IOCG-type (iron oxide copper gold) mineralization (copper, gold, nickel, cobalt and rare earth elements)
The western portion of the property presented a porphyry/IOCG-type mineralization. Five mineralized showings were discovered or visited. The Forget 2 and Assini showings consist of magnetite areas locally brecciated which are enriched in copper, gold, nickel and cobalt and anomalous in rare earth elements. Horizons consisting of mafic tuff blocks were observed at the Assini showing. The two showings are 300 metres apart.
The highest grades from grab samples at the Assini showing are 0.35 per cent copper, 0.16 per cent nickel, 418 parts per million cobalt, 700 parts per million lanthanum and over 500 parts per million cerium. A channel sample of 1.0 metre returned 0.23 gram per tonne gold, 0.15 per cent copper, 118 parts per million cobalt, 372 parts per million nickel, 220 parts per million lanthanum and 395 parts per million cerium. At the Forget 2 showing, the best grade from a channel was 0.19 per cent copper, 165 parts per million lanthanum and 302 parts per million cerium over 1.0 metre.
The De La Tour showing was resampled and a grab sample returned 1.51 per cent copper, 3.9 grams per tonne silver, 392 parts per million nickel and 652 parts per million cobalt. The showing consists of centimetric crosscutting veinlets at metric intervals that are mineralized in pyrrhotite and chalcopyrite associated with potassic alteration. The Lac Edge and No. 14 showings were revisited and two grab samples from a felsic intrusive dike associated with potassic alteration returned anomalous grades of 3.27 grams per tonne gold and 0.74 per cent copper and 0.19 gram per tonne gold and 0.77 per cent copper, respectively. A channel covering 0.90 metre gave 0.16 gram per tonne gold and 0.52 per cent copper at the No. 14 showing.
All samples have been sent and prepared (PREP-31) by ALS Global's laboratory in Val d'Or. A portion of the pulp of each sample was analyzed at the laboratory in Val d'Or for gold by standard fire assay (AU-AA23), followed by gravimetry (AU-GRA21) if results were greater than 0.5 gram per tonne gold. The other portion of the pulp was sent to ALS Global's laboratory in Vancouver for a multielemental analysis by aqua regia and spectroscopy (ICP-AES/MS). Sample with assays higher than 1 per cent copper were reanalyzed by atomic absorption (CU-AA46) at the ALS Global Vancouver laboratory. Quality controls include systematic addition of blank samples and certified gold standards to each batch sample sent to laboratories.
Grab samples are selected samples and not necessarily representative of the mineralization hosted on the property.
The corporation has not been able to independently verify the methodology and results from the historical work program within the property boundaries. However, management believes that the historical work program has been conducted in a professional manner and the quality of data and information produced from them is relevant.
About the Mitchi property
The Mitchi property (approximately 21,000 hectares, 100 per cent owned) is located west of the Mitchinamecus reservoir, 100 kilometres north of the town of Mont-Laurier. The property covers an area of more than 210 square kilometres, accessible by a network of logging and gravel roads with a hydroelectric power substation located 14 kilometres to the east. The property is located in the northwestern portion of the central metasedimentary belt of the Grenville geological province. Many gold, copper, silver and manganese mineralized showings have been identified to date, with many characteristics suggesting of a sediment-hosted stratiform-copper-type deposit (SSC) in the eastern portion of the property and iron oxide copper gold ore (IOCG) and skarn-type deposits in the western portion. Osisko Mining holds a 2-per-cent net smelter return royalty on 39 claims and 1-per-cent net smelter return royalty on 21 other claims of the Mitchi property.
Kintavar samples 21.4m of 0.49% Cu, 5.5g/t Ag at Mitchi
2017-10-17 10:57 ET - News Release
Mr. Kiril Mugerman reports
KINTAVAR ASSAYS 0.49% CU AND 5.5 G/T AG OVER 21.4 M INCLUDING 0.64% CU AND 7.4 G/T AG OVER 12 M IN CHANNEL SAMPLES AT THE SHERLOCK SHOWING AND ANNOUNCES PRIVATE PLACEMENT
Kintavar Exploration Inc. has released assays from channel sampling at the Sherlock and Watson-3 showings on the Mitchi property in Quebec. The mineralized corridor that was identified in September (see press release dated Sept. 26, 2017) is now confirmed with these continuous composite channel samples and with the historical drill holes from 1972. A grab sample returned 0.74 per cent copper and 9.74 grams per tonne silver 200 metres east of Sherlock, indicating that the mineralization is continuous to the east as shown by the geophysical induced polarization (IP) anomaly. The Sherlock and Watson-3 trenches are separated by 70 metres, and the mineralized lithological units are still open in all the directions and will be tested by a drilling program in the coming months. Details of the private placement can be seen herein.
• Sherlock mineralization on surface confirmed with 12 metres grading at 0.64 per cent copper and 7.4 grams per tonne silver (0.70 per cent copper equivalent);
• Watson-3 identified as the extension of mineralization from historical drill holes DDH-12 and DDH-13;
• 450-metre-long-by-200-metre-wide mineralized corridor between Sherlock and Watson;
• Geophysical interpretation suggests the extension of favourable structure and lithologies two kilometres to the east and west of Sherlock and Watson;
• Same lithological units and mineralization are confirmed to repeat again seven kilometres to the northeast and then six kilometres to the north-northeast.
Sherlock and Watson-3 trenches
The Sherlock trench delivered the widest interval of mineralization identified on the Mitchi property to date with 21.4 metres of 0.49 per cent copper and 5.5 grams per tonne silver (0.54 per cent copper equivalent), including 12 metres of 0.64 per cent copper and 7.4 grams per tonne silver (0.70 per cent copper equivalent). Sherlock mineralization is associated with the diopside marble and the diopside-rich sediments enriched in bornite and chalcopyrite. Two hundred metres east of the Sherlock showing, a grab sample from an outcrop returned 0.74 per cent copper and 9.74 grams per tonne silver. Both coincide with a 450-metre-long weak IP and moderate soil anomaly.
The Watson-3 trench is associated with a moderate IP and strong soil anomaly. It is located 70 metres south of the Sherlock trench and returned 0.59 per cent copper and 4.94 grams per tonne silver (0.63 per cent copper equivalent) over 1.9 metres and 0.38 per cent copper and 3.0 grams per tonne silver over 3.4 metres. The Watson-3 showing is interpreted as the extension on surface of the mineralization that was intersected in the 1972 historical drill holes (SIGEOM: GM 27421) DDH12 (0.41 per cent copper and 16.17 grams per tonne silver over 6.10 metres from 16.4 metres), DDH13 (0.49 per cent copper and 15.26 grams per tonne silver over 9.75 metres from 20.0 metres) and DDH14 (0.47 per cent copper and 11.38 grams per tonne silver over 3.05 metres from 20.4 metres). Watson-3 mineralization is primarily associated with the phlogopite-rich glimmerite layer and the diopside marble enriched in bornite with traces of chalcopyrite, chalcocite and covelite. A third and southernmost IP moderate anomaly (150 metres south of Watson-3) has not been yet explained on surface or in historical drill holes.
Dr. Michel Gauthier, PGeo, PhD, a technical adviser of the corporation and a renowned metallogenist and specialist in mining exploration, has visited the Watson, Watson-3, Sherlock and Nasigon showings. His interpretation supports that the company is dealing with a sediment-hosted stratiform copper (SSC) system in a Grenville setting that underwent high-grade metamorphism and folding.
"We are very encouraged by the width of the mineralization on surface at the Sherlock area and the potential extension of the mineralization intersected in the historical drill holes and at Watson-3. We are dealing with a significant mineralized corridor (potential of 450 metres long by 200 metres wide) with consistent mineralization identified between the Watson and Sherlock showings. Another positive point is the major colour and competency contrast between the mineralized lithologies and the encasing gneiss, which is a major advantage for potentially mining this type of mineralized material. The upcoming drilling program will test the depth potential of the mineralization and the lateral extent of each of the zones identified to date. Another important question to be answered is if the IP anomalies are three individual mineralized zones or if they are connected through lower-grade mineralization. This will be a major plus in terms of increasing the potential mineralized envelope between Sherlock and Watson-3. We are very excited to be moving forward with the first drilling program on Mitchi in the coming months," commented Kiril Mugerman, president and chief executive officer of Kintavar Exploration.
Regional blue-sky potential
Taking into consideration the SSC system that has been identified, reinterpretation of the geophysical survey suggests an extension of the favourable structure and lithologies two kilometres to the east and west of Sherlock and Watson, and this is supported by several soil anomalies. Furthermore, the same structure and lithologies are repeated seven kilometres to the northeast as confirmed by the Hispano and Sly showings. The same lithologies and mineralization is then again repeated six kilometres to the north-northeast, as confirmed by the Nasigon showing, but the airborne geophysical survey stops just short of this target area. The Nasigon area is unique in that the mineralization is mainly associated with chalcocite (approximately 80 per cent copper by weight) and highest grades of copper (channel samples from 2014 returned 1.05 per cent copper over 4.0 metres and 2.79 per cent copper over 1.6 metres and are still open in both directions).
Private placement
The corporation also announces a non-brokered private placement financing at a modified pricing relative to that announced in the Aug. 29, 2017, press release due to market conditions. The offering consists of up to 2,272,727 units at a price of 11 cents per unit and 3,571,428 common shares on a flow-through basis at a price of 14 cents per flow-through share for aggregate gross proceeds of up to $750,000. Each unit will consist of one common share and one-half of one share purchase warrant. Each warrant entitles the holder thereof to acquire one additional share at a price of 14 cents per share for a period of 24 months from the closing date.
Closing of the offering is expected to occur in November, 2017, and is subject to receipt of regulatory approvals, including the approval of the TSX Venture Exchange. The securities to be issued under the offering will have a hold period of four months and one day from their issue.
Net proceeds from the offering will be used for surface work and drilling on the Mitchi property as well as for general corporate and working capital purposes. The offering will be completed with accredited investors under National Instrument 45-106, Prospectus Exemptions, and with existing securityholders under Regulation 45-513, Prospectus Exemption for Distribution to Existing Security Holders, as well as Ontario Securities Commission Rule 45-501, Ontario Prospectus and Registration Exemptions.
The offering under the existing shareholder exemption is being made to existing securityholders who held shares of the corporation as of Oct. 16, 2017. In the event that the offering is oversubscribed, the corporation may increase the size of the offering or allocate subscriptions on a pro rata basis in accordance with holdings of existing shareholders as of the record date.
All samples have been sent and prepared (Prep-31) by ALS Global laboratory in Val d'Or. A portion of the pulp of each sample was analyzed at the laboratory in Val d'Or for gold by standard fire assay (Au-AA23) followed by gravimetry (Au-GRA21) if results were greater than 0.5 gram per tonne. The other portion of the pulp was sent to ALS Global laboratory in Vancouver for a multielemental analysis by aqua regia and spectroscopy (ICP-AES/MS). Sample with assays higher than 1 per cent copper were reanalyzed by atomic absorption (Cu-AA46) at the ALS Global Vancouver laboratory. Quality controls include systematic addition of blank samples and certified gold standards to each batch sample sent to laboratories. Copper standards will be systematically included in future samples sent to the lab.
Grab samples are selected samples and not necessarily representative of the mineralization hosted on the property.
The corporation has not been able to independently verify the methodology and results from the historical work program within the property boundaries. However, management believes that the historical work program has been conducted in a professional manner and the quality of data and information produced from them is relevant.
Copper equivalent grade is presented for information purposes only and is not indicative of management's opinion on the potential metallurgical recoveries or future commodity prices. Copper equivalent grade including silver values is based on 100-per-cent metal recoveries, copper price of $3 per pound and silver price of $18 per ounce.
About the Mitchi property
The Mitchi property (approximately 21,000 hectares, 100 per cent owned) is located west of the Mitchinamecus reservoir, 100 kilometres north of the town of Mont-Laurier. The property covers an area of more than 210 square kilometres accessible by a network of logging and gravel roads with a hydroelectric power substation located 14 kilometres to the east. The property is located in the northwestern portion of the central metasedimentary belt of the Grenville geological province. Many gold, copper, silver and manganese mineralized showings have been identified to date, with many characteristics suggesting of a sediment-hosted stratiform copper-type deposit in the eastern portion of the property and iron oxide copper gold (IOCG) ore and skarn-type deposits in the western portion. Osisko Mining holds a 2-per-cent net smelter return royalty on 39 claims and 1 per cent net smelter return royalty on 21 other claims of the Mitchi property.
Kintavar channel samples 10 m of 1.10% Cu, 3.4 g/t Ag
2017-11-29 14:39 ET - News Release
Mr. Kiril Mugerman reports
KINTAVAR ASSAYS 1.10% CU AND 3.4 G/T AG OVER 10.0 M INCLUDING 1.74% CU AND 5.7 G/T AG OVER 4 M IN CHANNEL SAMPLES AT THE NASIGON SHOWING AND SECOND CLOSING OF PRIVATE PLACEMENT
Kintavar Exploration Inc. has released assays from channel sampling at the Nasigon showing on the Mitchi property in Quebec. In addition, the corporation has announced the second closing in trust of a non-brokered private placement offering, consisting of 769,000 shares, issued on a flow-through basis, at a price of 14 cents per share. This brings the aggregate gross proceeds of the private placement to $489,270. The corporation has applied to the TSX Venture Exchange to extend the closing date for the balance of its private placement until Dec. 29, 2017, and to increase the size of the private placement with the same terms to up to 4,545,454 units and 5,357,142 common shares on a flow-through shares for aggregate gross proceeds of up to $1.25-million. The extension and the increased amount are subject to conditional approval of the exchange.
The company will use the proceeds of the private placement for the upcoming drilling program on the Mitchi property and for working capital purposes.
The shares acquired by the subscribers are subject to a hold period of four months plus one day from the closing date, ending on March 29, 2018, except as permitted by applicable securities legislation and the rules of TSX Venture Exchange.
In connection with this private placement, the corporation has paid a cash finder's fee in an amount of $7,536 and issued 53,830 non-transferable finder's options to acquire such number of common shares at a price of 14 cents, exercisable for a period of 24 months and subject to a hold period of four months plus one day from the closing date.
Nasigon corridor
Work on the Nasigon showing in late October completed the channel sampling on the trench and a short regional overview of the area. The continuous channel sample returned assays of 1.10 per cent copper and 3.4 grams per tonne silver over 10.0 m (1.13 per cent copper equivalent) including 1.74 per cent Cu and 5.7 g/t Ag over 4.0 m (1.79 per cent CuEq). Grab samples 100 m south of Nasigon returned grades as high as 4.27 per cent Cu and 14.4 g/t Ag suggesting extension of the mineralization to the southwest. The associated table summarizes the best grades from the grab samples. The mineralization is associated with the same lithologies identified in the Sherlock & Watson corridor but the highest grades were present in the glimmerite facies enriched in chalcocite with traces of bornite and chalcopyrite.
Based on these results, the corporation proceeded with staking additional 24 claims for a total of 1,363 hectares in the northern portion of the property to secure any potential extensions of the mineralization.
Sample Copper Silver
(%) (g/t)
5743540 4.27 14.4
5743541 1.16 5.8
5743542 0.84 8.0
5743543 1.03 3.7
5743544 2.41 9.0
"The initial work on the Nasigon corridor was brief but very successful. Copper mineralization has been identified over 1.5 km within the metasedimentary unit and the grab samples 100 m south of Nasigon could represent the same folded sequence. With grades surpassing 1 per cent Cu over 10 m on surface, we are now targeting an induced polarization geophysical survey over the Nasigon trench area to go along with the airborne magnetics survey covering the northern portion of the property during the winter months. This will form the basis for the 2018 summer field and drilling programs. We now have two high-priority corridors with Sherlock & Watson in the south and Nasigon in the north. With these results, Mitchi is starting to show glimpses of district-scale potential similar to the Balmat-Edwards zinc district in New York, United States, which is hosted within similar rocks of the Grenville supergroup and hosts eight active and past-producing zinc mines. We are very encouraged for the upcoming winter drilling program which is expected to start in early December," commented Kiril Mugerman, president and chief executive officer of Kintavar Exploration.
A figure associated with this news release is available on-line.
All samples have been sent and prepared (PREP-31) by ALS Global laboratory in Val d'Or. The pulp was sent to ALS Global laboratory in Vancouver for a multielemental analysis by four-acid digestion and spectroscopy (ME-MS61). Samples with assays higher than 1 per cent Cu were reanalyzed by ICP-AES (CU-OG62) with a higher detection limit of 40 per cent Cu at ALS Global's Vancouver laboratory. Quality controls include systematic addition of blank samples and certified copper standards to each batch sample sent to laboratories.
Grab samples are selected samples and not necessarily representative of the mineralization hosted on the property.
The corporation has not been able to independently verify the methodology and results from the historical work program within the property boundaries. However, management believes that the historical work program was conducted in a professional manner and the data and information produced from it are relevant.
Copper equivalent grade (CuEq) is presented for information purposes only and is not indicative of management's opinion on the potential metallurgical recoveries or future commodity prices. CuEq grade including silver values is based on 100 per cent metal recoveries, Cu price of $3 per pound and Ag price of $18 per ounce. The copper grade equivalent calculation is CuEq per cent equals (Cu per cent plus (Ag grade times Ag price)) divided by (22.0462 times Cu price times 31.0135 g/t).
About the Mitchi property
The Mitchi property (approximately 21,000 hectares, 100-per-cent-owned by Kintavar) is located west of the Mitchinamecus reservoir, 100 km north of the town of Mont-Laurier. The property covers an area of more than 210 square kilometres accessible by a network of logging and gravel roads with a hydroelectric power substation located 14 km to the east. The property is located in the northwestern portion of the central metasedimentary belt of the Grenville geological province. Many gold, copper, silver and manganese mineralized showings have been identified to date, with many characteristics suggesting of a sediment-hosted stratiform copper-type deposit in the eastern portion of the property and iron-oxide-copper-gold ore and skarn-type deposits in the western portion. Osisko Mining holds a 2-per-cent net smelter return royalty on 39 claims and a 1-per-cent NSR on 21 other claims of the Mitchi property.
Kintavar begins drilling Mitchi in Quebec
2017-12-13 08:04 ET - News Release
Mr. Kiril Mugerman reports
KINTAVAR EXPLORATION INITIATES MAIDEN DRILLING PROGRAM ON THE 100% OWNED MITCHI PROPERTY
Kintavar Exploration Inc. has started the maiden drilling program on the folded stratiform copper-silver project located 100 kilometres north of Mont Laurier, Que., and 50 km south of Parent and a railway leading to Rouyn-Noranda.
Highlights of the drilling program
• Maiden drilling program on the recently discovered folded stratiform Cu-Ag project;
• Minimum of 1,000 metres in approximately 12 drill holes;
• Focus on the Sherlock-Watson southern corridor;
• East and west extensions of the showings identified during the summer will be tested as well as historical drilling by Noranda from 1971;
• Three parallel IP anomalies which correspond on surface to the Sherlock and Watson 3 showings will be tested.
"This maiden drilling program at the Mitchi property has been a high priority for Kintavar and our team has done an exceptional job completing the permitting and community engagements to initiate the planned drilling for this winter. We are very pleased to have the support of the local communities and the first nations as we move to the next step of exploration on the Mitchi property. A folded stratiform Cu-Ag system in the Grenville is a new setting and geological environment that has never been explored in this region before. We are currently focusing the drilling on the southern corridor to better understand the mineralized system on a regional scale. This drilling program will allow us to better expand our exploration efforts four km to the east and to the west of the Sherlock and Watson showings as demonstrated by the airborne geophysics and to begin working on the northern Nasigon corridor," commented Kiril Mugerman, president and chief executive officer of Kintavar Exploration.
About the Mitchi property
The Mitchi property (approximately 21,000 hectares, 100 per cent owned) is located west of the Mitchinamecus reservoir, 100 km north of the town of Mont-Laurier. The property covers an area of more than 210 square km accessible by a network of logging and gravel roads with a hydroelectric power substation located 14 km to the east. The property is located in the northwestern portion of the central metasedimentary belt of the Grenville geological province. Many gold, copper, silver and manganese mineralized showings have been identified to date, with many characteristics suggesting of a sediment-hosted stratiform copper type deposit (SSC) in the eastern portion of the property and iron-oxide-copper-gold ore (IOCG) and skarn type deposits in the western portion. Osisko Mining holds a 2-per-cent net smelter royalty on 39 claims and 1-per-cent NSR on 21 other claims of the Mitchi property.
And finally………………………………………………………………..
Kintavar Exploration completes drilling at Mitchi
2018-01-18 13:11 ET - News Release
Mr. Kiril Mugerman reports
KINTAVAR COMPLETES DRILLING PROGRAM AT MITCHI PROJECT SHERLOCK AND WATSON SECTOR
Kintavar Exploration Inc. has completed a 1,771-metre diamond drilling program on its wholly owned Mitchi property in Quebec.
The program consisted of 12 drill holes, and the majority of the core samples have already been sent to ALS Global laboratory for assaying while the remaining samples are expected to follow in the coming days. Results for the initial drill holes are expected to be available in the coming weeks.
The exploration drilling program focused on three main objectives:
1. Testing the main IP (induced polarization) anomalies of the Sherlock zone;
2. Testing the Sherlock and Watson mineralization at depth;
3. Testing some of the secondary IP anomalies.
In total, 10 of the 12 drill holes intercepted the favourable lithologies with copper mineralization in the form of bornite and chalcopyrite. Out of these holes, seven holes intercepted several tens of metres of copper mineralization.
"We are very pleased with this first drilling program on the Mitchi project. We drilled more metres than expected because several of the holes showed mineralization deeper than first thought. We now believe this could be both a near-surface, open-pit-type target and also an underground target beneath," commented Kiril Mugerman, president and chief executive officer of Kintavar Exploration.
About the Mitchi property
The Mitchi property (approximately 21,000 hectares, 100 per cent owned) is located west of the Mitchinamecus reservoir, 100 kilometres north of the town of Mont-Laurier. The property covers an area of more than 210 square kilometres, accessible by a network of logging and gravel roads with a hydroelectric power substation located 14 kilometres to the east. The property is located in the northwestern portion of the central metasedimentary belt of the Grenville geological province. Many gold, copper, silver and manganese mineralized showings have been identified to date, with many characteristics suggesting a sediment-hosted stratiform-copper-type deposit (SSC) in the eastern portion of the property and iron-oxide-copper-gold (IOCG) ore and skarn-type deposits in the western portion. Osisko Mining holds a 2-per-cent net smelter return royalty on 39 claims and a 1-per-cent net smelter return royalty on 21 other claims of the Mitchi property.
Full disclosure - I own shares in Kintavar bought on the open market over the past week. I have no business relationship with Kintavar.
