MONTREAL, Jan. 14, 2019 (GLOBE NEWSWIRE) — Kintavar Exploration Inc. (the “Corporation” or “Kintavar”) (TSX-V: KTR) (FRANKFURT: 58V) is pleased to announce the surface trenching results from November and December 2018. The trenches were completed in the Sherlock and Conan areas and were able to significantly extend the surface mineralization to the East and to the West. The trenches were then followed up with drilling to confirm the extension of the mineralization at depth.
In the Sherlock area, eight (8) trenches intersected over tens of meters of the bornite, chalcocite (nearly 80% copper by weight) and chalcopyrite mineralization within marble and calc-silicate horizons, while six (6) of the trenches returned grades of 1% Cu and higher in multiple samples. The extension of the surface mineralization and the fertile lithological units by over 200 meters and the additional 7 drill holes, as can be seen in Figure 1 below, are confirming the interpretation of many tightly folded parallel mineralized marble horizons. These horizons remain open to the East and to the West and will be investigated by further drilling and trenching in 2019. Drilling assays are expected in Q1.
In the Conan area, 3 km to the North of Sherlock, two (2) new trenches confirmed the extent of the mineralization over 150 meters within marble horizons with the same characteristics as the Sherlock area.
“With over 4,500 meters of drilling now completed in the Sherlock area and many trenches further confirming that the mineralization starts from surface, we now have a good sense of the frame of those stratiform mineralized horizons. The upcoming assays and the results of the metallurgical work are the next steps in demonstrating the mining potential of the Mitchi project,” comments Kiril Mugerman, President & CEO of Kintavar.
Grab samples are selected samples and not necessarily representative of the mineralization hosted on the property.
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) and 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.
The high definition figure can be downloaded here.
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 the Mitchi Property
The Mitchi property (approx. 30,000 hectares, 100% owned) is located west of the Mitchinamecus reservoir, 100 km north of the town of Mont-Laurier. The property covers an area of more than 300 km2 accessible by a network of logging and gravel roads with a hydro-electric power substation located 14 km to the east. The property is located in the north-western portion of the central metasedimentary belt of the Grenville geological province. Many gold, copper, silver and/or manganese mineralized showings have been identified to date, with many characteristics suggesting of a sediment-hosted stratiform copper type mineralization (SSC) in the Eastern portion of the property and Iron Oxide Copper Gold (IOCG) and skarn type mineralization in the Western portion. Osisko holds a 2% NSR on 27 claims of the southern portion of the Mitchi property, outside of the sedimentary basin.
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, 2017, 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.
|Table 1: Best grab samples in trenches – Fall 2018|
|Area||Trench||Sample||Easting (N83 z18)||Northing||Cu (%)||Lithology|
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/5c88946c-6076-440a-a06f-25a76a155732