MONTRÉAL, Nov. 26, 2019 (GLOBE NEWSWIRE) -- Kintavar Exploration Inc. (the “Corporation” or “Kintavar”) (TSX-V: KTR) (FRANKFURT: 58V), is pleased to announce the final results from its 2019 summer exploration program at the Sherlock corridor, the southernmost of the 3 corridors Kintavar has confirmed. The below results are from the Watson, Irene and the Columbo areas.


Highlights include:


  • Trench SHK34: a new mineralized area located 220m to the West of the Watson showing grading 29.5m @ 0.47% Cu and 6.79 g/t Ag
  • Irene showing: channel sample grading 0.87% Cu and 12.9 g/t Ag over 5.0m
  • Mineralization from trench SHK38 to SHK34 can now be traced over 1km with approximately 400m across
  • Columbo showing: channel sample returned 0.70% Cu and 6.2 g/t Ag over 3.0m, confirming mineralization 1.8km to the East of Sherlock


This final set of results addresses the 3rd main objective of the summer exploration program which was regional exploration in the Sherlock corridor. With these results, the Sherlock zone has now been further extended to the West which brings the gap between the Sherlock, Conan and Elementary zones to less than 1.5km. Furthermore, the Columbo zone to the East opens a new frontier for surface exploration for 2020.


“These final surface results complete the exploration objectives we set out before us for the summer 2019 exploration program. We now have a much better understanding of the geology and the structure of the Mitchi project, we have identified new showings in the Conan and Elementary zones by following the soil anomalies that were discovered in 2018, have extended the known mineralized zones and identified new zones that could significantly increase the mineralization on surface in the future. With our first main zone, the Sherlock zone, now exhibiting mineralization on surface for over 1km long by over 400m across and up to 160m at depth in the 2018 drilling, we are very excited for the overall potential of the Mitchi property. The ongoing drilling program should be able to test and demonstrate the new geological model developed this summer and we will be eagerly awaiting the results during the winter of 2020,” comments Kiril Mugerman, President & CEO of Kintavar.


Trench SHK34, located 220m to the West of the Watson showing, confirmed the presence of the mineralized stratigraphy for over 1km on surface, extending from trench SHK38 (0.40% Cu over 30.5m, see press release October 10, 2019). A composite channel sample from the trench returned 29.5m @ 0.47% Cu and 6.79 g/t Ag including a continuous channel which gave 8.0m @ 0.75% Cu and 11.0 g/t Ag (see figure blow). The mineralization, which remains open in all the directions, has the same lithological and mineralogical characteristics as those seen in the Sherlock and SHK38 trenches. Similarly, the principal foliation varies with a general plunge of 15° to 35°. Currently, 3 drill holes are planned in this area during the ongoing drill program (see press release November 13, 2019).


The Irene showing, which was originally intersected in drill hole MS-18-19 (0.31% Cu over 41.0m, see press release September 17, 2018), is located 550m to the NW of the Sherlock showing and 500m to the NE of the Watson showing. The SHK19 trench, completed during summer 2019, identified on surface new mineralized horizons with the same characteristics as those observed at the Sherlock showing. The marble, diopside gneiss and the diopsidites unites returned a grade of 0.87% Cu and 12.9 g/t Ag over 5.0m and the zone remains open in all the directions. The zone shows the same weak plunge in the NE-SW direction and will be tested by 3 drill holes during the ongoing drill program.


Figure 1: SHK34 trench (Click here to open the figure in high resolution)


https://www.globenewswire.com/NewsRoom/AttachmentNg/a7984e64-5c54-43d8-97cb-e5890e745ef2


As far as regional step outs within the Sherlock corridor, the first trench was completed at the Columbo showing which is located 1.8km to the East of the Sherlock showing. The area, which has seen little exploration until now, allowed to identify the same lithologies and mineralization that are observed at the Sherlock zone, suggesting a significant extension of the mineralized horizons. A sequence of several meters of marble, diopsidites and diopside gneiss has been channeled and returned 0.75% and 0.7% Cu over 2m and 3m respectively. The zone is open to the East and to the West. If the conditions allow it, 1 drill hole will be completed at the Columbo showing.


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, 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.