Kintavar Completes IP Survey on Nasigon; High Priority Drilling Targets Identified Over Several Hundreds of Meters
- 45 km long induced polarization survey completed
- Anomalies identified over several hundreds of meters
- Strong correlation between geophysical and geochemical data and copper showings
- Sherlock and Nasigon geophysical signature of similar nature and size
MONTREAL, April 24, 2018 (GLOBE NEWSWIRE) -- Kintavar Exploration Inc. (the “Corporation” or “Kintavar”) (TSX-V:KTR) (FRANKFURT:58V), is pleased to announce the completion of an Induced Polarization (IP) geophysical survey on the Nasigon grid. The Nasigon corridor is the northern most out of the three present on the Mitchi property where stratiform copper mineralization has been identified. The 45 line kilometer survey covers a surface of 4.32 km2 and includes all the showings and the geochemical anomalies of the Nasigon area, including the main showing which returned a grade of 1.10% Cu and 3.4 g/t Ag over 10m on surface in a channel sample (press release November 29, 2017).
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The compilation of all the geophysical anomalies from this survey demonstrates very positive similarities to the historical survey from the Sherlock / Watson area where significant copper intersections were discovered in drilling (drill hole MS-17-03: 120m @ 0.34% Cu and 2.90 g/t Ag including 30m @ 0.63% Cu and 3.76 g/t Ag and MS-17-04: 131m @ 0.31% Cu and 2.85 g/t Ag including 29.3m @ 0.52% Cu and 3.53 g/t Ag) (press release January 31, 2018, true thickness is estimated at 65-80% of the intersected interval).
The main similarities between the Sherlock and Nasigon IP surveys are:
- All the copper showings and the soil anomalies are located near weak to moderate chargeability anomalies (warm colors) (Figure 1);
- The chargeability anomalies of the Sherlock area and the Nasigon area are of similar intensity and size, approximately 500 meters on surface;
- Similar to Sherlock, these chargeability anomalies are always associated to increase in resistivity.
In addition, significant chargeability anomalies are present south of the main Nasigon showing which will be the subject of surface follow up during the 2018 summer program.
“The correlation between the soil anomalies, the known mineralized outcrops and the IP anomalies is extremely encouraging. Furthermore, by comparing this survey to that of the Sherlock area and the mineralization intersected there in drilling, gives Nasigon a very promising outlook. Several IP anomalies extend for over hundreds of meters on surface and several folded zones have been identified, which provide Kintavar several high priority drilling targets scheduled for this summer on Nasigon. Additional surface work will be completed in the coming months to select the best drilling targets.” comments Kiril Mugerman, President & CEO of Kintavar.
Figure 1: Plan view of the chargeability on the Nasigon grid at -25m depth with location of copper showings and soil anomalies. Full size map can be viewed here.
The survey was performed by Géosig and results modeling was completed by Joël Dubé, P.Eng. from Dynamic Discovery Geoscience, a consultant for Kintavar.
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.
About the Mitchi Property
The Mitchi property (approx. 28,000 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 280 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 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 holds a 2% NSR on 27 claims of the southern portion of the Mitchi property, outside of the sedimentary basin and a 1% NSR on 21 claims partially on in the sedimentary basin.
For further information contact:
Kiril Mugerman,
President and CEO
Telephone: +1 450 641 5119 #5653
Email: kmugerman@kintavar.com
Web: www.kintavar.com
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 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.
