U.S. Markets closed

Kintavar Intercepts the Longest Mineralized Interval on the Mitchi Property; 94.80m @ 0.30% Cu within 216m @ 0.20% Cu

  • Kintavar will be in Toronto at the PDAC from March 3 to 6 at booth #2642 and as well will be presenting its core from the Mitchi project at the Core Shack display #3104 on Sunday and Monday, March 3rd and 4th, 2019. Please come and visit to talk to the management and our geologists to learn more about the Mitchi project.

MONTREAL, Feb. 27, 2019 (GLOBE NEWSWIRE) -- Kintavar Exploration Inc. (the “Corporation” or “Kintavar”) (KTR.V) (58V.F), is pleased to announce the final assay results for the 2018 drilling program on the Mitchi project. The western portion of the Sherlock zone delivered in its objectives to open the mineralization to the West while confirming the presence of all the main mineralized horizons which are tightly stacked, folded and mainly sub-vertical. The mineralized interval of 0.20% Cu over 216m in hole MS-18-46 is the longest on the Mitchi property.

"We are very excited with these final results from the 2018 drilling program. We have drilled over 10,000 meters, discovered many new mineralized zones and learned a lot about the geology and the structure of the Mitchi project in the past year. As we advance, the intervals become longer and grades inch higher while the Sherlock zone remains open laterally and at depth. With ongoing metallurgical testing, we are hoping to begin demonstrating some economic potential of the stratiform mineralization of the Mitchi project and what we believe could become a district scale project with the entire sedimentary basin having already been staked by Kintavar and royalty free. We are looking forward to going back in the field in the spring to begin drilling the extensions of the Sherlock zone and continue working on the Conan zone,” comments Kiril Mugerman, President & CEO of Kintavar.

The interbedded nature of the sedimentary system and the associated mineralization is put in evidence once again as 5 separate intervals ranging from 4m and up to 17m produced grades ranging from 0.59% Cu and 0.64% Cu. These intervals are very important for the ongoing metallurgical test work including various sorting methods that are often used to upgrade mining ores. If demonstrated to be applicable, it could deliver major advantages that can lower capital costs significantly and reduce the footprint of a mine, which are not applicable in traditional bulk mining copper porphyry deposits.

Another important discovery of drill hole MS-18-46 is the marble unit at the end of the hole. This is the northernmost marble unit discovered in the Sherlock zone and although it did not return significant intercepts, copper sulfides were present and increasing over the last 20m of the drill hole which ultimately was stopped due to reaching the drill rig maximum depth capacity. This northern horizon will be investigated in 2019 on surface with trenching and additional drilling.

Figure 1: Cross section 2+50 for the Sherlock zone.  Click here for full size image.

Drill Hole UTM X
N83Z18
UTM Y Azimut
/Dip
Length
(m)
  From (m) To (m) Thickness(1) Cu % Ag (g/t)
MS-18-46 483520 5252920 N330 / -45 426   19,20 235,20 216,00 0,20 2,1
incl 19,20 114,00 94,80 0,30 3,5
incl 52,00 69,00 17,00 0,61 6,2
and 75,00 89,00 14,00 0,64 5,8
and 110,00 114,00 4,00 0,59 11,5
and 187,10 192,00 4,90 0,31 2,7
and 207,60 235,20 27,60 0,38 3,2
incl 208,60 212,60 4,00 0,62 5,6
and 225,00 233,00 8,00 0,64 5,5
(1) : True thickness is estimated at 40 to 80% of the intersected thickness

Table 1: Summary of copper intersections for drill hole MS-46

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/cfd75f3b-b1e7-46a5-a65a-ee41328cc7fa