Kintavar Begins Drilling on the Stratiform Copper Mitchi Project in Quebec
MONTREAL, June 07, 2018 (GLOBE NEWSWIRE) -- Kintavar Exploration Inc. (the “Corporation” or “Kintavar”) (TSX-V:KTR) (FRANKFURT:58V) is pleased to announce that it has begun its diamond core drilling program on the 100% owned stratiform copper Mitchi project in the Grenville geological province in Quebec.
The drilling program for the summer months is divided over the two main corridors: Sherlock in the south and Nasigon in the North. Over 2,000 meters are planned on the Sherlock corridor in June where initial drilling intersected stratiform copper mineralization from surface in January 2018. Drilling will focus both on extensions of mineralization and some infill drilling. The Nasigon corridor, where surface follow up of geochemical and geophysical anomalies has already begun, is expected to see over 2,000 meters of initial drilling starting as of July. The objective of the current surface work on Nasigon is to identify new mineralized targets on surface based on previous geochemical surveys and the recently completed induced polarization (IP) survey, then follow up by trenching and channel sampling prior to final selection of initial drilling targets.
“After an exciting discovery of the stratiform copper mineralization in the January 2018 drilling program, we are delighted to finally go back to drilling on the Mitchi project. This should be a very active summer program for us and we expect to start seeing some assay results towards the end of July,” comments Kiril Mugerman, President & CEO of Kintavar.
The company is also pleased to announce that it has engaged Vincent J. Marciano to provide media and investor awareness services to the company. The engagement is for a term of 12 months at a rate of $2,000 per month. Mr. Marciano is based in Alexandria, Ky., and is the principal of the Stateside Report, a podcast focused on the junior resource sector.
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 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 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 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.
