MONTRÉAL, March 18, 2021 (GLOBE NEWSWIRE) -- Kintavar Exploration Inc. (the “Corporation” or “Kintavar”) (TSX-V: KTR) (FRANKFURT: 58V), is very pleased to announce the channel sampling results from the November 2020 trenching program at the Wabash property.
“The Wabash copper-silver property is demonstrating excellent potential. We are seeing the first confirmation of higher-grade horizons with 0.73% Cu and 20.5 g/t Ag over 7m that remain open to the West. The strongest and the biggest IP anomaly that measures over 1km long by 250m wide and several other significant anomalies have not yet been tested and will be priority targets for the upcoming exploration program. We wanted to get as much data as possible from Wabash before winter started. We followed what we had at the time and had made excellent progress. Now, from combining the channel results and the geophysical data, we can see that mineralization has good correlation with the IP anomalies and that we are working with various horizons. The right conditions appear to be there to identify a significant width copper zone at surface over several kilometers. The objective for Wabash is clear now: identify the best copper and silver horizons, follow them and build up volume.” commented Kiril Mugerman, President & CEO of Kintavar Exploration.
The 5 channels were completed through 3 out of the 7 trenches. Only the first trench of every area had channel samples taken. The results can be visualized in Figure 1 and are described below:
- North – Trench 1W & 1E (140m total combined) – Mineralization appears to increase from East to West with several horizons observed. A low-grade copper horizon with over 30m in width, a manganese horizon of approximately 15m wide and a medium grade copper and silver horizon (0.56% Cu, 8.5 g/t Ag over 4.25m) which remains open to the west. Trench was stopped to the West due to existing trail and topography. As grab samples indicate, mineralisation with high grade copper extends to the west after the channel sample. Trench 2 and 3 did not have any channel samples but did succeed in sampling higher-grade mineralization as observed by the grab samples (up to 2.41% Cu, 77.5 g/t Ag and 0.20 g/t Au); that mineralization remains open to the W and E. Trench 4 appears to have intersected a low-grade horizon but was not thoroughly washed or sampled.
- Center – Trench 5 and 6 coincide with the weaker eastern portion of an IP anomaly that was identified later in the winter. We observe an approximately 10m wide low-grade copper horizon adjacent to a medium grade copper horizon (0.44% Cu, 5.6 g/t Ag over 7.20m) which remains open to the West in the direction of the stronger IP anomaly that is over 700m long. Our last sample is 120m to the East of this IP anomaly and this gap will need to be investigated.
- South – Trench 7 – Mineralization again appears to increase from East to West. Only 1 mineralized horizon was observed for now, grading 0.73% Cu, 20.5 g/t Ag and 1.11% Mn over 7m. The horizon remains open to the West in the direction of the medium to strong IP anomaly that is over 400m long. We have a zone of 100m to be investigated before reaching the IP anomaly.
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.
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.
A figure accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/07c2f9d1-a8a6-4246-8876-dda8cc6db541
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.