MONTREAL, QUEBEC–(Marketwired – Jan. 31, 2018) – Kintavar Exploration Inc. (the “Corporation” or “Kintavar“) (TSX VENTURE:KTR), is pleased to announce the assays of the first 4 drill holes from its 2017-2018 winter drilling program. Twelve diamond drill holes totalling 1,771 m have been realized on the Sherlock and Watson areas.
The favourable sedimentary unit has been intersected by 8 diamond drill holes in the Sherlock area starting from surface and covering over 200 m in width, 200 m in length and 175 m in vertical depth and the unit remains open to the East, West and at depth (figure 1). The sedimentary unit is composed of the calcitic marble enriched in phlogopite/biotite which carries the majority of the copper mineralization and the generally less mineralized calc-silicate units mainly composed of diopside, phlogopite/biotite, feldspar and variable amounts of quartz, scapolite and wilsonite. These horizons are deformed and folded and the alternating sequence of marble and calc-silicate units with locally some levels of gneiss, can be well observed in the core ranging from meters to tens of meters.
Figure 1: Plan view map showing all the drill holes and the main intercepts from MS-17-01 to MS-17-04. Full size map can be viewed here.
Copper mineralization observed in the drill holes ranges from trace to 5% in the form of bornite and chalcopyrite with traces of chalcocite. Pyrite has been observed only locally with less than trace and rarely near 1%.
Summary of the main intercepts from the first 4 drill holes is presented in the table below. Drill holes MS-17-01 and 02 have intersected a folded calc-silicate unit and have been stopped once they attained their geophysical targets. Drill hole MS-17-03 demonstrated that mineralization extends farther than expected and as a result the extension of MS-17-01 and 02 is planned for the next drilling campaign.
|DDH||UTM X N83Z18||UTM Y||Azimuth
|Cu %||Ag (g/t)|
|(1) : True thickness is estimated at 65-80% of the intersected thickness|
|(2) : NSV – No significant value ( < 0.1% Cu)|
Table 1: Summary of the main intercepts from MS-17-01 to MS-17-04
The same favorable lithological unit has been intersected at the Watson target in both drill holes. Assays are pending.
« We are very excited about this discovery. The identification of this new copper mineralized system within a unique context in Quebec confirms our field observations. The potential of the Sherlock/Watson area to host a copper deposit, not to mention of the entire 20 km long sedimentary basin, from Sherlock to Nasigon, is now clear and very promising. The development of these targets now becomes priority for Kintavar.» comments Alain Cayer, Vice-President Exploration of Kintavar Exploration.
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.
About the Mitchi Property
The Mitchi property (approx. 21,000 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 210 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 manganese mineralized showings have been identified to date, with many characteristics suggesting of a sediment-hosted stratiform copper type deposit (SSC) in the Eastern portion of the property and Iron Oxide Copper Gold ore (IOCG) and skarn type deposits in the Western portion. Osisko Mining holds a 2% NSR on 39 claims and 1% NSR on 21 other claims of the Mitchi property.
NI 43‐101 Disclosure
Alain Cayer, P. Geo., MSc., Vice-President Exploration of Kintavar, is the Qualified Person under NI 43-101 guidelines who supervised and approved the preparation of the technical information in this news release.
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 nine months ended September 30, 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.
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