MONTRÉAL, Dec. 12, 2018 (GLOBE NEWSWIRE) -- Kintavar Exploration Inc. (the “Corporation” or “Kintavar”) (KTR.V) (58V.F), is pleased to announce the completion of the final drilling program on the Mitchi project for 2018. A total of 10 holes and 1,600m were recently drilled with the main objective being to focus on the mineralized extensions of the Sherlock area and the recently discovered Conan area.
In the Sherlock area, a total of seven (7) drill holes and 1,330 meters had investigated the lateral extensions of the mineralization of over 400 meters long. Two (2) of the drill holes had investigated the mineralization to a depth of over 200 meters. In proximity to every drill hole, a trench was completed and sampled to confirm the extension of the mineralized stratigraphy to surface. All the drill holes intersected the sedimentary mineralized units over several tens of meters.
In the Conan sector, a total of three (3) drill holes and 270 meters had tested the mineralization that was identified in September on surface at the Conan trench. Two (2) of the drill holes intersected the mineralization from surface and the third drill hole intersected a late intrusive unit.
All the drilling samples have been sent to the laboratory and assays are expected toward the end of January, 2019.
"We are very satisfied with the final stage of our 2018 drilling program. The drill holes and the trenches in the Sherlock area allowed us to have better definition and new extensions of the chalcocite and bornite mineralized units in the south-eastern and north-western extensions of Sherlock. Several of the drill holes needed to be extended beyond their planned depth due to the presence of mineralization. The Sherlock area remains open laterally and at depth and this most recent work begins to show the volume potential of the stratiform copper mineralization that the Sherlock area might represent.” comments Alain Cayer, VP Exploration of Kintavar.
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 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 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.
Forward looking Statements:
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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.