MONTRÉAL, July 19, 2021 (GLOBE NEWSWIRE) —(the “Corporation” or “Kintavar”) ( ), is very pleased to announce that mineralization has now been observed over 4km at the Wabash project with trenching program continuing in preparation for the upcoming drilling program.
Several new zones have been identified since work started at the beginning of the summer extending the mineralization beyond the previously identified 2.5 km. A total of 1500 soil samples were completed to infill areas that were remaining from the 2020 program and over 200 grab samples were taken from the new trenches and outcrops. All assays are pending.
The new Indiana zone, discovered outside of the copper soil footprint now allows to trace the mineralized corridor for over 4 km with mineralization observed over 500 m, 700 m and 1 km in three areas along that corridor (see Figure 1) . Based on trenches, outcrops and geophysics, the mineralization is open in all directions. The Indiana trenching area shows strong mineralization in Cu, Zn and Pb sulphides (chalcopyrite, bornite-covellite, sphalerite and galena) within interbedded metric calcitic marbles and paragneissic units. Thickness of the mineralized units in the trench is over 15 m and remains open to the East and to the West and the mineralization was traced in outcrops for another 100 m on surface.
Work is currently ongoing on the strong Induced Polarization (IP) targets. The magnetic and IP data together with stratigraphic mapping in trench 1 area, correlates the mineralized horizons and suggests good continuity throughout the Northern part of the project.
The Northern part of the property remains open in all directions and trenching of high priority targets will continue throughout the summer. Selection of the drilling targets is being finalized.
The Richer area in the South, the strongest copper soil anomaly on the property, saw the first trenching done by the Kintavar team where mineralization was confirmed on surface. Although similar geology is observed to that of the Northern part of the property, the area appears to be part of the regional fold hinges with structure and deformation significantly different from the North. Mineralization has been observed over 200 m within the 1.4 km regional footprint. Trenching and mapping to connect the South with the Northern mineralization will continue together with planning of the first drill targets.
“The summer program is advancing as planned with new identified mineralization on surface confirming our geological interpretation. Identifying the thick and strongly mineralized units at Indiana confirmed that a sequence of various mineralized horizons of tens of meters is present that saw various degrees of mineralized fluids circulating. That is important in order to obtain the targeted 50 m width of mineralization and as well indicates that some high-grade units could be part of the sequence. Furthermore, the current work is covering less than 25% of the property and following the recent mineralized discoveries, which remain open, the mineralized horizons could extend well beyond the current 4 km. We are looking forward to complete the current program and begin preparing for the initial drilling program on the Wabash project.” commented Kiril Mugerman, President & CEO of Kintavar Exploration.
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.
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.
Figure 1 accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e321dee1-536d-4ab9-958e-01d98953ddaf
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.
For further information contact:
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.
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