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MONTREAL, QUEBEC–(Marketwired – Sept. 26, 2017) –
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- Sherlock showing: 7 grab samples from an area covering 300m2 grading between 1.14% and 2.87% Cu and 5 grab samples grading between 1.14% and 2.05% Mn
- Watson showing: channel sample of 13.6m @ 0.54% Cu, 5.29 g/t Ag and 0.57% Mn (0.76 CuEq*), remains open in all directions
- 540m distance between the two showings within the same folded sedimentary sequence
- Folded mineralized horizons make over 10m thick intervals
Kintavar Exploration Inc. (the “Corporation” or “Kintavar“) (TSX VENTURE:KTR), is pleased to announce the first results from the summer 2017 exploration campaign. The work completed during the campaign, including the follow up of the copper showings in the Eastern portion of the Mitchi property, helped identify a sediment-hosted stratiform copper-silver-manganese mineralization within a siliceous dolomite unit. This helped establish a connection between the various showings such as Watson/Sherlock, Nasigon and Hispana. The mineralized horizons were folded and metamorphosed creating sub-kilometric areas of thickening. Such thickening is well documented to generate open pit mines in the Grenville geological province, such as the iron ore mines in the south of Labrador and Québec and the Lac des Iles graphite mine, located in the Mont-Laurier region, only 120 km to the south of the Mitchi property.
In the western portion of the property, polymetallic mineralization with copper-silver ± gold, nickel, cobalt, tungsten and locally rare earth elements was identified. Mineralization is associated with magmatic lithologies and locally with potassic alteration.
Mitchi Property – Eastern Sector – Watson and Sherlock Showings – Cu, Ag, Mn
Surface work on the Watson showing exposed a sequence of marbles, phlogopitic glimerites and diopsidite with bornite, covelite, malachite and trace of chalcopyrite mineralization. The lithologies appear to have been folded, creating a thickening of the mineralized horizons, while their true width still remains unknown. A continuous composite channel sample of 13.6m returned grades of 0.54% Cu, 5.29 g/t Ag and 0.57% Mn (0.76% CuEq*) and a second channel sample 8m to the west gave 0.61% Cu, 6.02 g/t Ag and 0.53% Mn (0.83% CuEq*) over 3 m. Both channel samples remain open in all directions.
At a distance of 540m to the East of Watson, the identification of Cu-Ag-Mn mineralization led to the discovery of the Sherlock showing (see Figure 1). A total of seven (7) grab samples from an area of 20m by 15m returned grades of 1.14% to 2.87% Cu and up to 39.0 g/t Ag while five (5) samples returned grades of 1.14% to 2.05% Mn. In that area, an historical channel was graded at 0.45% Cu over 5.5m. The following table summarizes the best grades from the grab samples including the Cu equivalent* grade. The manual trenches revealed the same lithologies as those present at the Watson showing with the mineralized marbles, glimerites and diopsidite folded, thus creating a thickening of the lithological sequence. The higher copper grades typically correspond to marble and diopsidite horizons while the higher manganese grades correspond to glimerites. The same mineralized and folded lithological sequence has been observed at the Watson, Nasigon, Hispana and the Sly showings although with a certain zonation of copper minerals (bornite, covellite, chalcocite and chalcopyrite).
Figure 1: Watson and Sherlock exploration target with historical results, summer 2017 results and interpretation of potential folded sediment-hosted stratiform Cu-Ag-Mn mineralization. Full size map can be viewed here.
|Samples||UTM nad83 z18||Cu (%)||Ag (g/t)||Mn (%)||CuEq* (%)|
|*Copper equivalent grade (CuEq) is presented for information purposes only and is not indicative of management’s opinion on the potential metallurgical recoveries or future commodity prices. The CuEq grade demonstrates that Ag and Mn play a limited role in the overall grade. CuEq grade including silver and manganese values are based on 100% metal recoveries, Cu price of 3$/lb, Ag price of 18 $/oz and Mn price of 0.93 $/lb. Copper grade equivalent calculation. CuEq% =(Cu% + (Ag grade x Ag price))/(22.0462 x Cu price x 31.0135 g/t) + (Mn grade x Mn price / Cu price)|
Two additional outcrops returned grades of copper-silver-manganese in grab samples. The first one, located 200m east along strike from Sherlock, graded at 0.80% Cu and 11 g/t Ag (0.90% CuEq*) while the second one, located 300m north-east of Watson graded up to 0.83% Cu, 6.3 g/t Ag and 0.62% Mn (0.90% CuEq*).
The Corporation completed a quality control study in order to investigate a potential supergene enrichment. Several deep channels were completed with the sample later cut in two. The upper and the bottom portions of the sample were analysed individually in the laboratory. The assays do not suggest a supergene enrichment. Furthermore, a review of the drill logs completed in 1971 by Noranda on the property shows that copper mineralization continues at depth and that several of these historical drill holes are mineralized the entire length of the hole (100′ deep or 30.48m). Drill hole #13 returned grades of 0.49% Cu and 14.0 g/t Ag (0.61% CuEq*) over 9.75m (32′) starting from a depth of 14.30m (47′).
“The identification of a sediment-hosted stratiform Cu-Ag-Mn system is very encouraging. The effects of the Grenville metamorphism and deformation that helped mask and preserve this system for all those years, played an important role in creating thick mineralized zones that could prove to be economic and minable using traditional open pit methods. This type of deposit has never been exploited in Canada and we are excited to be working on a potential major multi-kilometer system. The location of the property, adjacent to road and power infrastructure and 50km from a railroad in Parent, will be important factors in helping advance this project forward. The Watson and Sherlock corridor that now extends a significant 540m will be the subject of trenching, channel sampling and detailed ground magnetics and Induced Polarization (IP) studies in the coming months in preparation for a drilling program during the upcoming winter.” commented Kiril Mugerman, President and CEO of Kintavar Exploration.
Mitchi Property – Western Sector – Porphyry / IOCG type mineralization – Cu, Au, Ni, Co, REE
The western portion of the property presented a porphyry / IOCG (Iron Oxide Copper Gold) type mineralization. Five (5) mineralized showings were discovered or visited. The Forget2 and Assini showings consist of magnetite areas locally brecciated which are enriched in copper, gold, nickel and cobalt and anomalous in rare earth elements. Horizons consisting of mafic tuff blocks were observed at the Assini showing. The two showings are 300m apart.
The highest grades from grab samples at the Assini showing are 0.35% Cu, 0.16% Ni, 418 ppm Co, 700 ppm La and >500 ppm Ce. A channel sample of 1.0m returned 0.23 g/t Au, 0.15% Cu, 118 ppm Co, 372 ppm Ni, 220 ppm La and 395 ppm Ce. At the Forget2 showing, the best grade from a channel was 0.19% Cu, 165 ppm La and 302 ppm Ce over 1.0m.
The De La Tour showing was resampled and a grab sample returned 1.51% Cu, 3.9 g/t Ag, 392 ppm Ni and 652 ppm co. The showing consists of centimetric cross-cutting veinlets at metric intervals which are mineralized in pyrrhotite and chalcopyrite associated with potassic alteration. The Lac Edge and #14 showings were revisited and two (2) grab samples from a felsic intrusive dyke associated with potassic alteration returned anomalous grades of 3.27 g/t Au and 0.74% Cu and 0.19 g/t Au and 0.77% Cu respectively. A channel covering 0.90m gave 0.16 g/t Au and 0.52% Cu at the #14 showing.
All samples have been sent and prepared (PREP-31) by ALS Global laboratory in Val-d’Or. A portion of the pulp of each sample was analyzed at the laboratory in Val-d’Or for gold by standard fire assay (AU-AA23) followed by gravimetry (AU-GRA21) if results were greater than 0.5 g/t Au. The other portion of the pulp was sent to ALS Global laboratory in Vancouver for a multi-elemental analysis by aqua-regia and spectroscopy (ICP-AES/MS). Sample with assays higher than 1% Cu were reanalyzed by atomic absorption (CU-AA46) at the ALS Global Vancouver laboratory. Quality controls include systematic addition of blank samples and certified gold standards to each batch sample sent to laboratories.
Grab samples are selected samples and not necessarily representative of the mineralization hosted on the property.
The Corporation has not been able to independently verify the methodology and results from the historical work program within the property boundaries. However, management believes that the historical work program has been conducted in a professional manner and the quality of data and information produced from them are relevant.
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 stratiforme 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:
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 “forwardlooking 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 Corporatioon 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 Coproration’s annual management’s discussion and analysis for the fiscal year ended Dece 31, 2016, 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.
President and CEO
+1 450 641 5119 #5653
Tue, 26 Sep 2017 14:28:33 GMT