MONTREAL, Nov. 19, 2020 (GLOBE NEWSWIRE) -- Kintavar Exploration Inc. (the “Corporation” or “Kintavar”) (TSX-V: KTR) (FRANKFURT: 58V), is pleased to announce that the trenching and sampling work at the Wabash Project for the 2020 season has been completed. The Corporation has now begun the Induced Polarization (IP) survey covering the main mineralized area. The Wabash Copper-Silver Project is located 65km North of the Mitchi project and 15km East of the city of Parent in Quebec. Kintavar owns 100% of the 126 claims (7,266 hectares) with a 0.25% royalty applicable only on 6 of those claims.
“We have completed a first detailed exploration campaign at the Wabash project and the sudden late autumn warm weather provided a very fortunate extension to our field program. The team worked very hard to complete a very significant portion of the exploration program to give us a great opportunity to drill the Wabash project this winter. We expect results from the IP survey and the channel samples in the coming months which will be used to plan the next exploration steps on this very promising project. Based on the work completed we see significant potential to delineate mineralized zones of large volume.” commented Kiril Mugerman, President & CEO of Kintavar Exploration.
Trenching
A total of 8 trenches for a cumulative length of approximately 250m were completed during the late October to beginning of November program at the Cloutier-Lapointe area. Channel sampling was then completed only at 3 of the trenches for over 45m combined in the time available due to the weather conditions. Channel sampling will continue in the spring and summer 2021. In addition, 64 grab samples were collected, in that short period, on the trenches, old blast pits dating back to 1916 and 1936, and in the surrounding areas. Mineralization, predominantly in paragneiss and some in the marble units as well, has been observed at all the trenches. The trenches, which are generally trending East-West, are mineralized at both ends. An extension of the trenches or a drilling program would be required in 2021 to identify the full extension of the mineralized sedimentary package. The main paragneiss unit, N – NNW strike with a 35° to 45° dip to the E, has only been worked on in the Cloutier-Lapointe area although it is expected to repeat several times on the property due to folding as observed in historical regional mapping and airborne geophysics (see Figure 1 – regional map in the top right). This current program focused on the copper mineralization but zinc, manganese and other metal anomalies, which were discovered in 2020, will be further investigated in 2021.
Geophysical Induced Polarization (IP) survey
A 27km IP survey covering the main Cloutier-Lapointe area has begun on the Wabash project. It will provide a new structural interpretation and a better understanding of the continuation of the mineralized units laterally and at depth. The IP survey will be used to plan additional trenching targets and more importantly the maiden drilling program on the project in 2021. The survey is expected to take about 2 weeks to be completed with results then expected towards the end of December or early January.
An infographic accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/8fcb43cf-cda0-4ad9-9367-f630558c70e7
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 Property
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 property (approx. 30,000 hectares, 100% owned) located west of the Mitchinamecus reservoir, 100 km north of the town of Mont-Laurier. The property covers an area of more than 300 km2 accessible by a network of logging and gravel roads with a hydro-electric power substation located 14 km to the east. The property is located in the north-western portion of the central metasedimentary belt of the Grenville geological province. Many gold, copper, silver and/or manganese mineralized showings have been identified to date, with many characteristics suggesting of a sediment-hosted stratiform copper type mineralization (SSC) in the Eastern portion of the property and Iron Oxide Copper Gold (IOCG) and skarn type mineralization in the Western portion. 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.
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, 2019, 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.