Kintavar obtains 14m @ 0.94% Cu and 9m @ 0.71% Cu in channel samples from Elementary and Conan areas, 2.5km north of Sherlock
MONTREAL, Oct. 24, 2019 (GLOBE NEWSWIRE) — Kintavar Exploration Inc. (the “Corporation” or “Kintavar”) (TSX-V: KTR) (FRANKFURT: 58V), is pleased to announce the second set of results from its summer 2019 exploration program.The highlights include:10 trenches completed in the Conan and Elementary zones (“C&E Area”)The mineralized horizons in the C&E Area can now be followed on surface for almost 1.5km NE-SW and 500m in acrossSignificant channel results from 3 distinct horizons:0.92% Cu and 5.9 g/t Ag over 14.0m;0.71% Cu and 3.9 g/t Ag over 9.0m; and0.42% Cu and 5.4 g/t Ag over 7.0m;Mineralized zones remain open in both NE and SW directionsThree boulders of several meters in size graded 1.13% to 2.1% Cu. Source is up ice of the C&E Area suggesting that one or several zones are yet to be discovered to the NorthThe current set of results covers the 2nd main objective of the summer exploration program which was to follow up on the strong soil anomalies in the Elementary region that were discovered in the fall of 2018. The presented results are from 10 trenches in the C&E mineralized Zones which is located 2.5 km along the northern extension of the Sherlock zone (Figure 1). The C&E Zones now represents the second area of the southern Sherlock corridor which demonstrates potential to host large volumes of mineralization. Each trench successfully intersected all the mineralized lithologies: marbles, diopsidites and calc-silicates.“Since the initial discovery of the Sherlock zone in 2017, our objective has been to identify a second zone which could provide an additional potential source of large volume of mineralization. The summer work clearly demonstrated that the C&E Zones not only have the potential volume but as well has the high-grade component: 14m @ 0.92% Cu including 9m @ 1.33% Cu is the best intersection we had on the entire property to date. The mineralized horizons continue to extend and the Conan, Elementary and the Sherlock zones could all get connected soon. We are very excited to start our drilling program in the coming weeks and to continue delineating the mineralization and bringing us closer to a maiden resource estimate on the Mitchi property.” comments Kiril Mugerman, President & CEO of Kintavar.The identification of the mineralized sedimentary units over a distance of 1,500 m (NE-SW) and 500 m across (NW-SE) (figure 2) in the C&E area suggests that at least four horizons of mineralized marble and calc-silicate units of several meters in thickness are stratigraphically stacked and are plunging sub-horizontally between 0 and 45°. Further investigation by drilling will allow to confirm the true width of the sequence and to identify potential fold hinges which will offer maximum mineralized thickness.Figure 1: Conan / Elementary area, located 2.5 km in the northern extension of the Sherlock Zonehttps://www.globenewswire.com/NewsRoom/AttachmentNg/109fe1fe-abc8-4f0b-8636-73702fcb3151 The mineralized zones remain open to the north and to the south with several soil anomalies suggesting continuation of the mineralization. In addition, three boulders of several meters in size, located north of the C&E Zone (up ice), returned grades between 1.13% and 2.1% Cu suggesting another source which is yet to be discovered. Due to thicker overburden, further trenching in the area is limited and the area needs to be now investigated with drilling.Figure 2: 2019 trenches and grab samples from the Conan / Elementary area.https://www.globenewswire.com/NewsRoom/AttachmentNg/01c28110-9c33-4c3b-93b4-fe5195f419ecTable 1: Channel and Grab samples from Conan / Elementary Trenches – Summer 2019All 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.Grab samples are selected samples and not necessarily representative of the mineralization hosted on the property. NI-43-101 DisclosureAlain 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 PropertyKintavar Exploration is a Canadian mineral exploration Corporation engaged in the acquisition, assessment, exploration and development of gold and base metal mineral properties. It’s flagship project is the Mitchi property (approx. 30,000 hectares, 100% owned) 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.For further information contact:Kiril Mugerman, President and CEO
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Web: www.kintavar.comForward 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, 2018, 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.