MONTRÉAL, Feb. 25, 2021 (GLOBE NEWSWIRE) -- Kintavar Exploration Inc. (the “Corporation” or “Kintavar”) (TSX-V: KTR) (FRANKFURT: 58V), is very pleased to announce the results from the November 2020 trenching program at the Wabash property. The copper-silver property consists of 126 claims and 7,266 hectares and is 100% owned by Kintavar and is part of the Mitchi-Wabash sediment hosted stratiform mineralization district that was discovered by Kintavar. Wabash is located in the Haute-Mauricie region of Quebec, only 65km North of the Mitchi project and 15km East of the city of Parent where Hydro-Quebec power service is available. The project is accessible by year-round road and has an active commercial railroad crossing the property which services, among others, the active Suzorite Mica Mine operated by Imerys S.A. and is located 3km East of the Wabash property.
“The Wabash property keeps delivering good grades and great surprises. We now see mineralization from North to South across over 3km, all within the same mineralized sedimentary units (interbedded paragneiss). Furthermore, we see continuation in the soil and IP surveys which adds confidence for delineating large volumes of mineralization at Wabash. We are starting to see evidence of several parallel horizons with distinct mineralization patterns, some with higher Ag, Cu or both. It is exciting that our team was able to identify these zones with great grades and we have not even worked on, what we believe to be, the top 4 IP and soil anomalies. The assay results for the channel samples are pending and should be available shortly however, we have seen enough evidence that supports a significant drilling campaign and as such, have already applied for drilling and trenching permits to begin the exploration season as soon as possible.” commented Kiril Mugerman, President & CEO of Kintavar Exploration.
A total of 86 grab samples were taken from the 7 trenches and 70 grab samples were further taken from the surrounding outcrops. The trenching program predates the IP geophysical survey and therefore trenches were completed by following up on the blast pits from 1916 and 1936, preliminary soil results and field readings with portable XRF.
Three areas of trenching were completed within the 3.5km IP grid. The results can be visualized in Figure 1 and are described below:
- North – Trenches 1 to 4 – This area has now been confirmed by soil and IP surveys as an important anomaly. Grab samples show consistent results of copper mineralization with 27 samples ranging from 0.43% to 2.41% Cu and up to 77.5 g/t silver. Several samples returned zinc grades as high as 2.71% while 3 samples returned gold grades up to 0.20 g/t Au.
- Center – Trenches 5 & 6 - This area has now been confirmed by soil and IP surveys as an important anomaly. The main chargeability anomaly is to the West of the trenches and remains unsampled. 14 samples returned copper grades from 0.41% to 1.94% Cu with silver up to 20.3 g/t.
- South – Trench 7 – This area is located in between two important soil and IP anomalies. This last trench had only a few samples and is open to the West, towards the main anomaly. The 5 samples returned copper grades as high as 2.28%, 59.9 Ag and manganese at 4.16%. Other outcrop samples in the southern portion returned consistent copper and silver grades with several more samples returning zinc and gold grades.
“The polymetallic nature of Wabash is of particular interest here.” added Mugerman. “Zinc was identified in 27 samples with grades above 0.1%. Gold is not commonly found in this type of deposit but it appears the Grenville geology had some influence here as can be seen by the 6 samples that returned gold grades above 0.1 g/t in additional to their copper and silver grades. Manganese, an important metal for Li-ion batteries with no production in North America, is present across all the units with an average grade of 0.6% Mn. Some anomalies in cobalt and lead have been identified as well. No follow up on Au, Zn, Mn or Co has been done to date on the property but will be part of the scientific research and exploration program in 2021.”
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 copper assays (CU-ICP61). silver assays (AG-ICP61) or a multi-elemental analysis by four acid digestion (ME-ICP61) and spectroscopy (ICP-AES/MS). Samples with assays higher than 10,000 ppm Cu were reanalyzed by atomic absorption (CU-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.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/da35db9b-a513-4b3a-ab0a-354829bb32ab
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:
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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.