VANCOUVER, BC, June 29, 2021 /CNW/ - Kenorland Minerals
Ltd.
(TSXV:KLD)(FSE:3WQ0) ("Kenorland" or
"the Company") is pleased to announce final drill results
from the 8,591m diamond drill
program, completed in early May, at the Regnault gold discovery
within the Frotet Project ("the Project"), located in
northern Quebec and held under
joint venture (the "Joint Venture") with Sumitomo Metal
Mining Canada Ltd ("SMMCL").
Remaining assays have been received and compiled from the final
15 of 30 diamond drill holes, including 5,104 meters, completed
during the program. Seven of these holes were targeting the 'R2'
structure, of which six encountered significant gold
mineralization. The R2 structure is located over 500m to the south of, and oriented sub-parallel
to, the R1 structure, on which results were reported on
May 26, 2021 and included a highlight
of 5.72m over 90.56 g/t Au. The
remaining eight drill holes, testing regional targets to the south,
and outside of, the of the Regnault discovery area footprint, did
not encounter any significant mineralization.
Figure 1. Table of Results
Zach Flood, CEO of Kenorland
Minerals, states, "We're thrilled to announce the remaining results
from the winter drill program at Regnault. This concludes
another successful exploration campaign at the Frotet Project,
which we are advancing with our joint venture partner, Sumitomo
Metal Mining. These results demonstrate an additional continuous
structure of high-grade gold mineralization, over 500m to the south of R1, highlighting the
potential for additional parallel mineralized structures within the
area. We're very excited to begin drilling again in mid-July
with a planned program consisting of up to 20,000m of drilling at Regnault, along with a
significant amount of follow-up exploration on other regional
targets within the Frotet Project."
Figure 2. Plan Map of Reported Drilling
Discussion of Results
The developing R2 mineralized corridor is characterized by high
grade quartz-carbonate-pyrite veins, which were originally
intercepted during the maiden diamond drill program at Regnault in
2020 (Press Release dated July 29,
2020, 20RDD002: 3.75m @ 16.06
g/t Au, and 20RDD015: 4.93m @ 9.59g/t
Au). Vein hosted mineralization is associated with an
east-northeast trending, moderately south dipping contact between
the Regnault intrusive complex (south) and volcaniclastics
(north). Gold bearing veins identified to date within eastern
portions of the R2 corridor are defined as shear hosted, laminated
quartz-carbonate-pyrite veins hosted within volcanics in proximity
to the intrusive contact, and within monzodioritic intrusive rocks.
Along the western portion of the R2 trend, multiple stacked
quartz-pyrite veins are extensional in nature with attitudes
perpendicular to the intrusive-volcaniclastic contact.
Continued exploration at Regnault since early 2020 has indicated
a robust gold system hosting high-grade mineralization along
multiple structures within a growing footprint. The company's
understanding of the system, namely the orientation of mineralized
structures has developed significantly throughout this latest round
of drilling. The R1 and R2 structures both strike in a
general east-west direction. Step-outs from this program have
delineated an approximate strike of 550 meters along the R1
structure, and 800m along the R2
structure, both of which remain open to the east, west, and down
dip. While R1 and R2 trend in a general east-west direction, they
occur within a general two kilometer north-northeast trend where
significant gold has been intersected in drilling. This
highlights the potential for additional parallel mineralized
structures between, and to the north and south of both R1 and
R2.
Summer 2021 Exploration Plans
The next phase of exploration begins in mid-July, where the
Joint Venture is planning up to 20,000m of additional drilling at Regnault as
well as further regional exploration within the Frotet
Project. The upcoming drill program will primarily focus on
infill and step-outs along the R1 structure. A significant
number of meters will also be allocated towards continued testing
along the R2 structure and follow-up on additional zones of
mineralization encountered throughout the Regnault trend. Since the
initial discovery in 2020, the Company has completed 16,413 meters
of drilling at Regnault.
Figure 3. Drill Collar Table
Qualified Person
Mr. Jan Wozniewski, B. Sc.,
P. Geo., OGQ (#2239) is the "Qualified Person" under National
Instrument 43-101, has reviewed and approved the scientific and
technical information in this press release.
About the Frotet Project
The Frotet Project was first identified by Kenorland in 2017
after completing a regional prospectivity study over the Abitibi
and Frotet-Evans Greenstone Belts of Quebec. The initial 55,921 ha property was
acquired through map staking in March, 2017 and optioned to
Sumitomo Metal Mining Canada Ltd. ("SMMCL"), a wholly owned
subsidiary of Sumitomo Metal Mining Co., Ltd. in April, 2018. Two
years of property-wide systematic till sampling led to a maiden
drill program in 2020 which resulted in a significant grassroots
discovery at the prospect now named Regnault. The project is
currently under Joint Venture agreement between SMMCL and Kenorland
Minerals Ltd., with interests being held at 80% and 20%
respectively. Under the Joint Venture, exploration is funded
pro-rata. Any party which does not contribute and is diluted
below a 10% interest, converts its interest to an 2% uncapped net
smelter royalty.
Figure 4. Map of Frotet Project showing Regional Till
Sampling Geochemical Results
About Kenorland Minerals
Kenorland Minerals Ltd. (TSX.V KLD) is a mineral exploration
Company incorporated under the laws of the Province of British Columbia and based in Vancouver, British Columbia, Canada.
Kenorland's focus is early to advanced stage exploration in North
America. The Company currently holds three projects in
Quebec where work is being
completed under joint venture and earn-in agreement from third
parties. The Frotet Project is held under joint venture with
Sumitomo Metal Mining Canada Ltd. (SMMCL), the Chicobi Project is
optioned to SMMCL, and the Chebistuan Project is optioned to
Newmont Corporation. The Company also owns 100% of the advanced
stage Tanacross porphyry Cu-Au project as well as an option to earn
up to 70% from Newmont Corporation on the Healy Project, both
located in Alaska, USA.
Further information can be found on the Company's website
www.kenorlandminerals.com
Kenorland Minerals Ltd.
Zach Flood
President and
CEO
Tel: +1 604 363 1779
zach@kenorlandminerals.com
Kenorland Minerals Ltd.
Francis MacDonald
Executive Vice President
Tel: +1 778 322 8705
francis@kenorlandminerals.com
Cautionary Statement Regarding Forward Looking
Statements
This news release contains forward-looking statements and
forward-looking information (together, "forward-looking
statements") within the meaning of applicable securities laws. All
statements, other than statements of historical facts, are
forward-looking statements. Generally, forward-looking statements
can be identified by the use of terminology such as "plans",
"expects', "estimates", "intends", "anticipates", "believes" or
variations of such words, or statements that certain actions,
events or results "may", "could", "would", "might", "will be
taken", "occur" or "be achieved". Forward looking statements
involve risks, uncertainties and other factors disclosed under the
heading "Risk Factors" and elsewhere in the Company's filings with
Canadian securities regulators, that could cause actual results,
performance, prospects and opportunities to differ materially from
those expressed or implied by such forward-looking statements.
Although the Company believes that the assumptions and factors used
in preparing these forward-looking statements are reasonable based
upon the information currently available to management as of the
date hereof, actual results and developments may differ materially
from those contemplated by these statements. Readers are therefore
cautioned not to place undue reliance on these statements, which
only apply as of the date of this news release, and no assurance
can be given that such events will occur in the disclosed times
frames or at all. Except where required by applicable law, the
Company disclaims any intention or obligation to update or revise
any forward-looking statement, whether as a result of new
information, future events or otherwise.
Neither the 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.
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SOURCE Kenorland Minerals Ltd.