MONTREAL, QUEBEC–(Marketwired – Jan. 18, 2018) – Kintavar Exploration Inc. (the “Corporation” or “Kintavar“) (TSX VENTURE:KTR), is pleased to report the completion of a 1,771 meters diamond drilling program on its wholly owned Mitchi Property in Quebec.
The program consisted of twelve drill holes and the majority of the core samples have already been sent to ALS Global laboratory for assaying while the remaining samples are expected to follow in the coming days. Results for the initial drill holes are expected to be available in the coming weeks.
The exploration drilling program focused on three main objectives:
- Testing the main IP anomalies of the Sherlock zone
- Testing the Sherlock and Watson mineralization at depth
- Testing some of the secondary IP anomalies
In total, 10 of the 12 drill holes intercepted the favorable lithologies with copper mineralization in the form of bornite and chalcopyrite. Out of these holes, 7 holes intercepted several tens of meters of copper mineralization.
“We are very pleased with this first drilling program on the Mitchi project. We drilled more meters than expected because several of the holes showed mineralization deeper than first thought. We now believe this could be both a near surface open pit type target and also an underground target beneath.” commented Kiril Mugerman, President and CEO of Kintavar Exploration.
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:
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 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.
