MONTREAL, Sept. 28, 2021 (GLOBE NEWSWIRE) -- Kintavar Exploration Inc. (the “Corporation” or “Kintavar”) (TSX-V: KTR), is very pleased to announce new exploration results from the Cloutier area located on its Wabash property. The results include the first direct grab samples from the strongest geophysical “IP” anomaly. Follow-up over this anomaly had been a priority for this summer exploration program.
TR-GB1 results
The IP survey that was conducted last winter had identified a very strong chargeability and resistivity anomaly (PP-16) that extended for over 1.7 km (see new release February 16, 2021). Initial attempts for trenching in the strongest portion of the anomaly encountered significant amounts of overburden or access constraints. Trench TR-GB1 was then completed in the northern most extension of the IP anomaly, where it was shown to be weaker, and successfully intercepted a sequence of interbedded gneissic units. The main mineralized horizon was exposed over approximately 10m long with apparent widths varying up to 1.5 meters. The three samples yielded very consistent results as follows:
- 6.59% Cu, 58.7 g/t Ag & 0.66 g/t Au
- 6.29% Cu, 50.4 g/t Ag & 0.13 g/t Au
- 5.43% Cu, 42.5 g/t Ag & 0.35 g/t Au
Mineralization was present in the form of pyrrhotite and chalcopyrite and lesser amounts of bornite and pyrite. The trench is located 700m north of the strongest portion of the IP anomaly, making the entire anomaly a high priority target for the upcoming drilling program.
TR-4N, 5N and 15 results
The IP anomaly (PP-15) that is located 150m East of PP-16 was the target of trench TR-05 and TR-06 in 2020 (see new release March 18, 2021). A follow up on soil and IP anomalies allowed the realization of TR-05N trench and confirmed mineralization in a paragneiss unit for over 7m in width. Mineralization in chalcopyrite and bornite is pervasively disseminated throughout this unit with up to 0.75% Cu and 9.95 g/t Ag assayed.
Only 600m North of TR-5N, two new trenches (TR-4N and 15) were completed while investigating the Northern most part of the Cloutier area. The mineralization has now been extended by 125m and remains open to the North along with its IP anomaly. The interbedded paragneiss and marble units are part of the favorable stratigraphy that can be traced from Cloutier all the way to the Lapointe area and to the Indiana area for over 4 km. The same stratigraphy has been observed on the recently discovered Cooper zone (see news release September 7, 2021) and now could potentially be extended by almost doubling that distance.
Figure 1 below shows the location of the new trenches and the assay results on the Cloutier area.
“We have been chasing that strong IP anomaly all summer and we finally have clipped it by its tail. These are the highest grades discovered so far on the Wabash property. They explain the IP anomaly that we had observed in the area and which now gives us the confidence that IP can be used as a reliable tool to use on the property to confirm new zones going forward. The consistent grade in all three metals (copper, silver and gold) all along the favorable horizon gives us great confidence and we are very excited to be drilling this IP target very shortly. Wabash offers a great variety including low grade horizons, polymetallic units with zinc and lead, high grade silver units and now most recently high-grade copper units with gold. With over 1.7 km of this IP anomaly to target and more than 4 km of favorable stratigraphy intercepted by over 20 trenches, the Wabash project offers a unique and potentially huge system to explore in central Quebec,” 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.
Grab samples are selected samples and not necessarily representative of the mineralization hosted on the property.
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: Wabash property – Tr-GB1 results and IP-16 anomaly (pdf)
https://www.globenewswire.com/NewsRoom/AttachmentNg/1d20f00f-ec20-495c-9435-8659649afd86
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, 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.
