MONTREAL, Sept. 07, 2021 (GLOBE NEWSWIRE) -- Kintavar Exploration Inc. (the “Corporation” or “Kintavar”) (TSX-V: KTR), is very pleased to announce the discovery of a new mineralized zone, Cooper, located 4km to the North-West of the Indiana trenches. The Corporation has staked 31 additional claims for a total of 1,786.53 hectares to the West and to the North of the Wabash property in order to secure the extensions of the newly discovered mineralized zone.
Given the significance of this discovery, the Corporation had proceeded immediately with a soil geochemistry survey consisting of 700 samples along strike towards the Indiana area. Extension of the geochemical survey to the North of Cooper is planned for the fall (see figure 1). The discovery consists of several small trenches over a strike length of 500 m that were manually dug along the favorable units of the stratigraphic model of the Wabash basin, and the soil anomalies from the regional survey that was completed in 2020. Re-evaluating the trace elements data from that regional survey based on the Indiana discovery (see press release August 18, 2021 and July 19, 2021) suggests the anomaly is over 1 km long. Trails are currently being upgraded to improve access to this part of the property to begin mechanical trenching and to prepare drill pads for the upcoming drilling program.
The mineralization at Cooper is found predominantly within paragneiss with some presence of marble units and is associated with bornite, chalcopyrite and locally traces of chalcocite. The unique feature of the Cooper zone is the presence of molybdenite, a molybdenum sulfide, that has not been observed on any of the main zones that were being explored in 2021 so far. After identifying galena, a lead and silver sulfide, in the Indiana area, the discovery of molybdenite at Cooper further amplifies the polymetallic nature of the Wabash project. Furthermore, it again emphasizes the significant potential of the entire mineralized package.
“The Cooper discovery further confirms and demonstrates the vast potential of Wabash. Working in the Grenville geological province is challenging due to its high degree of metamorphism and structure but the thorough exploration work by our technical team allows us to move forward nonetheless. Additional exploration work remains to be done to confirm that the Cooper zone connects with the rest of the mineralized areas. In the meantime, assays for the work completed in July and August are expected in September and October. This data will help finish planning the upcoming drill program and the next stages in the exploration program on Wabash.” commented Kiril Mugerman, President & CEO of Kintavar Exploration.
Figure 1: Wabash property – Cooper zone discovery (pdf)
https://www.globenewswire.com/NewsRoom/AttachmentNg/4633a402-2720-4805-ba63-32bf3a0637a1
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. 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:
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, 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.
