- Four trenches over four geophysical anomalies returned copper mineralization
- Nasigon-SUD: 0.78% Cu, 4.37 g/t Ag over 8.97 m
- Nasigon-EST: 0.41% Cu, 3.61 g/t Ag over 6.45 m
- Lac-Michel: 0.37% Cu, 3.25 g/t Ag over 8.0 m
- Toby: 0.57% Cu, 8.34 g/t Ag over 6.65 m
MONTREAL, Aug. 16, 2018 (GLOBE NEWSWIRE) -- Kintavar Exploration Inc. (the “Corporation” or “Kintavar”) (TSX-V: KTR) (FRANKFURT: 58V), is pleased to announce its first channel sample assays from the 2018 summer exploration program. Results from channel samples of 5 trenches out of the 10 completed to date have been received and compiled. The summary of the intersections obtained in these trenches can be seen in Table 1.
On the Nasigon corridor, assays from 4 trenches over an area of 2 km in the East-West direction by 600 m in the North-South direction have returned significant copper grades. The Nasigon-Sud composite channel (perpendicular to mineralized horizons), located 100 m south of the Nasigon showing (1.10% Cu and 3.4 g/t Ag over 10 m, see press release November 29, 2017) has returned 0.78% Cu and 4.37 g/t Ag over 8.97 m. The particularity of this trench is that in addition to the mineralized sedimentary units, a late stage extensional system is present which is accompanied by remobilization of copper sulphides. All the four trenches represent four individual horizons which remain open laterally (East-West) and correspond to various geophysical anomalies extending over several hundred meters each. Assays from the final 5 trenches are still pending.
The initial drilling program on the Nasigon grid was completed this past week. The copper sedimentary horizons of the Nasigon, Nasigon-Sud and Nasigon-Est trenches were all intersected successfully in the corresponding drill holes and assays are expected in fall.
On the Sherlock corridor, a composite channel was completed on the Toby showing which previously returned a grade of 0.89% Cu and 15.3 g/t Ag in grab sample (see press release August 5, 2018). The composite channel sample (perpendicular to the mineralized horizons), which is located 200 m to the East of the Sherlock showing, graded 0.57% Cu and 8.34 g/t Ag over a length of 6.65 m. The marble unit that was sampled is cross-cut by a late dyke on the southern end while the intersection remains open in all directions. The Toby showing is associated with the same geophysical anomaly as the Sherlock showing which now extends for over 900 m. Four other trenches are currently being completed on the Elementary showing (2.34% Cu, 18.5 g/t Ag) and the 007 showing (0.24% Cu and 3.5 g/t Ag) which were discovered on the Sherlock corridor in June and July (see press release August 5, 2018).
Additional trenches are planned for the month of August and September on the Huard (1.04% Cu, 8.7 g/t Ag) and Sarcelle (0.80% Cu, 12.2 g/t Ag) showings which were identified in June on the Hispana corridor . A geophysical survey covering that area was completed in the recent days which will be used to generate additional targets.
“Our two main corridors keep producing the results that we were hoping to see when our summer program started in June. Nasigon, that until recently was focused only on one showing, now has mineralization extending on surface for over 2 km. The Sherlock area, which already has a strike length of mineralization of over 4.5 km, shows great consistency. At the Toby trench, what started with a simple outcrop and a grab sample of 0.81% Cu, now is an important drilling target with mineralization open in all the directions. The style of mineralization and the bulk mining model that we are envisioning for the Mitchi project, combined with the consistency of grades and of the favorable sedimentary units is such that every mineralized outcrop has the potential to become an important zone.” comments Kiril Mugerman, president and CEO of Kintavar.
Figure 1: Summary of channel samples (Sherlock, Hispana and Nasigon corridors). Full size map can be viewed here.
Figure 2: Summary of channel samples (Nasigon corridor). Full size map can be viewed here.
| Table 1: Summary of initial channel samples from 2018 exploration program | ||||||||
| Nasigon Corridor | ||||||||
| Trench | SAMPLE | Easting | Northing | Cu (ppm. %) | Ag (g/t) | Lithology | Intersection | |
| Nasigon - Sud | X379420 | 491706 | 5264946 | 5560 | 3.2 | Calc‐Silicate Unit (CaSi). Marble and metasomatic rocks | 0.78 % Cu and 4.37 g/t Ag / 8.97m | |
| X379421 | 491707 | 5264945 | 9880 | 5.4 | ||||
| X379422 | 491707 | 5264945 | 1.44 | % | 8 | |||
| X379423 | 491707 | 5264944 | 7030 | 3 | ||||
| X379424 | 491707 | 5264944 | 7390 | 4 | ||||
| X379425 | 491708 | 5264943 | 3280 | 2.1 | ||||
| X379426 | 491707 | 5264941 | 4240 | 3.4 | ||||
| X379427 | 491707 | 5264941 | 2.27 | % | 12.5 | |||
| X379428 | 491707 | 5264940 | 2920 | 1.9 | ||||
| X379429 | 491708 | 5264939 | 906 | 0.7 | ||||
| X379436 | 491698 | 5264936 | 4410 | 2.2 | CaSi unit. Marble and metasomatic rocks | 0.72 % Cu and 3.72 g/t Ag / 3.1m | ||
| X379437 | 491699 | 5264935 | 5990 | 2.8 | ||||
| X379438 | 491699 | 5264935 | 1.14 | % | 6.3 | |||
| Nasigon - Est | S743890 | 491795 | 5265072 | 2850 | 3.9 | Marble. Metasediments and CaSi unit | 0.41 % Cu and 3.61 g/t Ag /6.45m | |
| S743891 | 491796 | 5265073 | 1940 | 1.3 | ||||
| S743892 | 491797 | 5265073 | 3110 | 2.9 | ||||
| S743894 | 491797 | 5265071 | 4280 | 2.3 | ||||
| S743895 | 491798 | 5265071 | 2710 | 1.8 | ||||
| S743896 | 491796 | 5265066 | 4100 | 3.6 | ||||
| S743897 | 491793 | 5265070 | 5080 | 4.9 | ||||
| S743898 | 491794 | 5265069 | 7050 | 6.6 | ||||
| Lac-Michel (N-85) | S743952 | 491976 | 5264886 | 5270 | 4.5 | Marble and CaSi unit | 0.37 % Cu and 3.25 g/t A / 8.0m | |
| S743953 | 491976 | 5264886 | 2690 | 2.6 | ||||
| S743954 | 491980 | 5264887 | 104 | <0,5 | ||||
| S743955 | 491977 | 5264884 | 8890 | 6.8 | ||||
| S743956 | 491978 | 5264884 | 1565 | 1.9 | ||||
| S743958 | 491978 | 5264883 | 5490 | 4.9 | ||||
| S743959 | 491980 | 5264882 | 1750 | 1.4 | ||||
| S743960 | 491980 | 5264882 | 6120 | 6.2 | ||||
| S743961 | 491981 | 5264881 | 2910 | 2.6 | ||||
| Dome | S743025 | 490784 | 5263988 | 3060 | 1.1 | Marble and metasomatic rocks | 0.14 % Cu and 1 g/t Ag / 2.7m | |
| S743026 | 490784 | 5263987 | 409 | <0,5 | ||||
| S743027 | 490784 | 5263987 | 1320 | 1.9 | ||||
| Sherlock Corridor | ||||||||
| Toby | S743968 | 483832 | 5253050 | 1.01 | % | 19.6 | Marble. Metasediments and CaSi unit | 0.57 %Cu and 8,34 g/t Ag / 6.65m |
| S743969 | 483833 | 5253051 | 7230 | 11.6 | ||||
| S743970 | 483833 | 5253052 | 5960 | 7.6 | ||||
| S743971 | 483833 | 5253053 | 6870 | 9.7 | ||||
| S743972 | 483834 | 5253053 | 4670 | 4.4 | ||||
| S743973 | 483834 | 5253054 | 258 | <0,5 | ||||
| S743974 | 483838 | 5253047 | 3790 | 4.5 | ||||
| Real thickness of the composite channel samples is estimated to be between 45 and 70% of the intersected thickness | ||||||||
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. 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 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 holds a 2% NSR on 27 claims of the southern portion of the Mitchi property, outside of the sedimentary basin.
NI-43-101 Disclosure
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:
Kiril Mugerman,
President and CEO
Telephone: +1 450 641 5119 #5653
Email: kmugerman@kintavar.com
Web: www.kintavar.com
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.
Figure 1 & 2 are available at the following addresses:
http://www.globenewswire.com/NewsRoom/AttachmentNg/f9fa8d82-e367-4775-8661-00266b55a315
http://www.globenewswire.com/NewsRoom/AttachmentNg/9b4fa1c9-d6d9-4f9f-b87c-a6eb0ae8f1c4