MONTREAL, Feb. 21, 2019 (GLOBE NEWSWIRE) -- Kintavar Exploration Inc. (the “Corporation” or “Kintavar”) (TSX-V: KTR) (FRANKFURT: 58V) is pleased to announce drilling, geochemical and geophysical results for the Conan zone. The Conan zone is located in the North-Western part of the Sherlock corridor where the main Sherlock zone is being explored. The Conan zone was originally discovered in 2018 by following historical soil anomalies and now has been confirmed by drilling. Drill holes MS-18-43 and MS-18-44 intersected the mineralized horizon that was discovered on surface (0.48% Cu over 12.1m, see press release October 15, 2018) and returned assays of 0.33% Cu over 10m and 0.21% Cu over 17.25m respectively. Further drill results from Sherlock area are pending and expected shortly.
Additional geophysical survey (induced polarization) in fall 2018 in the Conan area identified a large region of favorable stratigraphy over 1.5km long and 200m wide which has now been confirmed with the recent drilling to host mineralization both at surface and at depth. The soil geochemistry survey conducted late in 2018 then identified a large soil anomaly in the northern portion which is similar in size and strength to the original soil anomaly that lead to the discovery of the Sherlock zone in 2017 (Figure 1).
"The Conan zone has now become a high priority target with strong potential to identify another zone that shows similar stacking of mineralized horizons to that identified in the main Sherlock zone. The structure, soil anomalies, mineralized boulders on surface, the proximity to the Sherlock zone and now confirmation by drilling gives us all the indicators needed to conduct a detailed surface exploration program in that area in 2019. Furthermore, the success of our trenching and follow up by drilling demonstrates again the presence of mineralization from surface and the efficiency of our exploration approach,” comments Kiril Mugerman, President & CEO of Kintavar.
Figure 1: Plan view showing the Conan zone and the Sherlock zone with soil anomalies
| Drillhole | UTM X N83Z18 | UTM Y | Azimut / Dip | Length (m) | From (m) | To (m) | Thickness(1) (m) | Cu % | Ag (g/t) | |
| MS-18-43 | 483070 | 5255509 | N330 / -45 | 165 | 3.75 | 13.75 | 10.00 | 0.33 | 3.3 | |
| incl | 8.70 | 12.00 | 3.30 | 0.52 | 4.5 | |||||
| MS-18-44 | 483050 | 5255460 | N330 / -45 | 60 | 4.45 | 21.70 | 17.25 | 0.21 | 1.7 | |
| incl | 4.45 | 15.40 | 10.95 | 0.29 | 2.4 | |||||
| incl | 10.00 | 15.40 | 5.40 | 0.48 | 3.7 | |||||
| MS-18-45 | 483006 | 5255369 | N330 / -45 | 42 | - | Late alcaline intrusive | NSV | NSV | ||
| (1): True thickness is estimated at 70 to 80% of the intersected thickness | ||||||||||
| (2): NSV = No significant value (<0.1% or < 1 g/t Ag) | ||||||||||
Table 1: assays for drill holes MS-42 to MS-45
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.
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.
About Kintavar Exploration & the Mitchi Property
Kintavar 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
Phone: +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.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/fc18d7e3-07a6-40d7-b579-6b3e6c20a737