VANCOUVER, BC, Jan. 19, 2021 /CNW/ - Kenorland Minerals Ltd.
("Kenorland" or "the Company") is pleased to report
additional geochemical sampling results, including fine-fraction
geochemistry, gold grain counts, as well as boulder assays from the
fall 2020 exploration program at the Regnault target within the
Frotet Project (the "Project") located in the Frotet-Evans
greenstone belt of Quebec. All
samples were collected to the southwest of the Regnault Discovery
Area where the company intersected 29.08m at 8.47g/t Au including 11.13m at 18.43g/t Au on the initial first pass
drill program in early 2020 (see press release dated July 29, 2020). In addition, a 129 line-kilometer
3D induced polarization (IP) geophysical survey covering the entire
five kilometer Regnault trend is currently underway.
Geochemistry Highlights:
Fine-fraction till geochemistry: 1,230 fine fraction,
B-horizon soil samples, with an approximate 50m x 100m spacing
were collected covering the Regnault South Area. The Regnault
fine-fraction Au-in-till anomaly has been increased in length from
2.75 kilometers to 5 kilometres.
Gold grain counts: 59 till samples returned up to 313
pristine gold grains in the Regnault South Area
and suggest that additional mineralized bedrock
sources may be located to the southwest of the Regnault Discovery
Area. 14 samples returned over 50 grains and 4 samples over 100
grains.
Boulder sampling: Boulder samples returned gold values up
to 6.46 g/t Au with best gold values found in bleached, silicified
basalt, a rock type that has not been intersected in drilling to
date and represents a potential new bedrock source of gold.
2021 IP Survey
Additionally, Kenorland has commenced a 129 line-kilometer 3D
induced polarisation (IP) survey over the entire five kilometer
long glacial dispersion plume. The original IP survey that was
conducted in January 2020, which was
critical in targeting within the initial Regnault Discovery Area,
had a line spacing of 200m. The
current IP survey has a line spacing of 50m over the Regnault Discovery Area and
100m line spacing over the Regnault
South area.
The 2021 IP survey has two objectives: target definition in
areas where gold was intersected in initial scout drilling within
the Regnault Discovery Area, as well as identification of new
targets within the Regnault South Area, where no drilling has been
completed to date.
Q1 2021 Exploration Program
The 3D IP survey will be carried out from January to early
February. Data processing and drill targeting will occur in
February in preparation for the planned 9,000m diamond drill program beginning in March.
Approximately 6,000m of drilling will
be allocated to the Regnault Discovery Area, following up on
previously intersected mineralization, while an additional
3,000m will be allocated to testing
new target areas along trend at Regnault South.
QA/QC and Sampling Protocols
Soil samples were collected from the B-horizon of soil developed
on a till substrate. Approximately 1 kilogram of material was
collected from each sample site and shipped to Bureau Veritas
("BV") in Timmins, Ontario for
preparation. Samples were prepared for analysis according to BV
method SS230; sieve individual samples to 230 mesh (-63 microns).
Samples were analysed at BV in Vancouver,
British Columbia with BV method AQ252_EXT; 30 grams of
material digested in aqua regia with an ICP-MS finish.
10 kilogram till samples from the C-horizon of glacial
till. Samples were processed by IOS Services Geoscientifique
Inc. in Chicoutimi, Quebec using
their ArtGOLD and ArtPHOT methodologies. Samples were wet
sieved to the -1mm fraction and run through a fluidized bed to
concentrate heavy minerals. Heavy mineral concentrates were
sieved to the -50um fraction and attached to a carbon puck, then
scanned with a high-resolution optical camera to identify gold
grains and their morphologies (ArtPHOT technique). Gold grains
that were recognized with the automated photo recognition were
scanned with a research-grade scanning electron microscope to
confirm the composition. All gold grain counts referred to in the
press release have been normalized to 10 kilograms of table
feed.
Qualified Persons
Janek Wozniewski, P.Geo. (OGQ
#2239), Exploration Manager of Kenorland Minerals Ltd., Qualified
Person under NI 43- 101 on standards of disclosure for mineral
projects, has reviewed and approved the technical content of this
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. The Frotet-Evans greenstone belt
hosts the Troilus Au-Cu deposit which produced more than two
million ounces of gold of and ~70,000 tons of Cu from 1996-2010 and
currently contains 3.97Moz Au indicated and 1.53Moz Au inferred
(Troilus Gold website). The initial 55,921 ha property was acquired
through map staking in March, 2017 and then optioned to SMMCL in
April, 2018. The two staged earn-in agreement allows SMMCL to earn
65% by funding C$4.3 million in
expenditures over an initial three years. SMMCL has currently
exercised the initial option and holds a 65% interest in the
Project. SMMCL then has the option to earn an additional 15% (80%
total) by funding another C$4 million
over the following year. Once a joint venture is formed, pro rata
funding begins and any party diluted below a 10% interest will
convert their interest to a 2% uncapped net smelter royalty.
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 where work is being completed under
an earn-in agreement from third parties. The Frotet and Chicobi
Projects, which are both located in Quebec, Canada, are optioned to Sumitomo Metal
Mining Canada Ltd. and the Chebistuan Project, also located in
Quebec, is optioned to Newmont
Mining. 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
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.