MONTREAL, Feb. 03, 2021 (GLOBE NEWSWIRE) -- Kintavar Exploration Inc. (the “Corporation” or “Kintavar”) (TSX-V: KTR) (FRANKFURT: 58V), is very pleased to announce the results of its geochemical soil survey that was completed over the Wabash copper-silver property in the fall of 2020.
The main anomaly that connects the Cloutier and the Lapointe areas where most of the work was completed in the summer and subsequently in November of 2020, is well over 5km long and is parallel to the main foliation and stratigraphy. The strongest anomaly in the Lapointe area is 750m SE of the Kintavar workings which would make this a high priority target area for this summer’s work program.
The strongest anomaly on the property is in the Richer area where limited historical work was completed and no work by Kintavar exploration team was completed to date. The Richer anomaly is approximately 2km long. The area between Lapointe and Richer was not included in the top priority soil sampling program that was completed in 2020 and therefore will be priority sampled this spring. In addition, three new anomalous areas were identified which will be further investigated this summer.
Soil geochemistry further demonstrated the best correlations with copper at Wabash are silver (Ag), bismuth (Bi), manganese (Mn) and to a lesser extent zinc (Zn), lead (Pb) and cobalt (Co), all typical of a stratiform copper mineralization signature. Based on this detailed geochemical study and its conclusions, the various soil surveys from the Mitchi project are being re-interpreted in preparation for the summer work program.
The Corporation is now awaiting the results of the geophysical induced polarization survey (IP), that was completed only in January, in order to combine it with the geochemical survey results and would generate high priority targets and additional structural data on the Wabash geology. In addition, assays are pending for the grab and channel samples from the trenches that were completed in November 2020. All the data will be used to generate first high priority drilling targets on the property.
“This thorough soil geochemical survey and data treatment allowed us to get a different perspective of stratiform units in the Grenville. Our surface exploration footprint for the upcoming summer program will be more than twice as large as anticipated. Being able to compare the Wabash geochemical signature to that of the world class African stratiform deposits is another testament to the success of our exploration team. To do that in the difficult high grade metamorphic conditions of the Grenville is even more impressive. We are looking forward to receiving all the remaining results and to proceed with initial drilling and the associated summer work programs on the Wabash project.” commented Kiril Mugerman, President & CEO of Kintavar Exploration.
A photo accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/c9c05cf2-36e9-4ad4-b520-1f4f5e0eb976
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 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, 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.