VANCOUVER, BC, Jan. 12, 2022 /CNW/ - Kenorland Minerals
Ltd. (TSXV: KLD) (OTCQX: NWRCF) (FSE: 3WQ0) ("Kenorland"
or "the Company") is pleased to announce the commencement of
the Q1 2022 winter exploration program 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").
Zach Flood, CEO of Kenorland
Minerals states, "We're thrilled to have the drills turning again
at Regnault. Each program including the initial discovery in
2020 has produced exceptional results. We anticipate further
exploration success as we continue to step-out and extend the known
high-grade mineralisation to greater depths as well as target the
discovery of additional gold bearing structures within the
complex."
Q1 2022 Winter Exploration Program
The Q1 2022 program will include up to 10,000 meters of diamond
drilling at the Regnault gold discovery. This program follows the
recently completed 17,792 meter drill program, of which
9,824m have been reported, including
a highlight of 15.40m at 17.96 g/t Au
(see press release dated December 20,
2021). The company expects assays for the remaining
7,968m to be announced in the coming
weeks.
Regnault Drill Program
Figure 1. Plan Map of Proposed Drilling along R1 and R2
Structures
Approximately 60% of the proposed drilling will be allocated to
step-outs along the R1 structure, targeting down plunge extensions
of higher-grade mineralisation along the vein corridor. Twelve
drill holes are planned to significantly expand the R1 vein system
at depth to approximately 500m below
surface beyond the current known extent of approximately
275m vertical depth. Along the R2
Trend, up to 25% of the proposed program will be allocated towards
broad-spaced infill drilling to determine the structural framework
linking R2 West and R2 East. The remaining 15% of the proposed
drill program is designed to expand on known mineralisation and
test additional gold-bearing structures north of the R1
corridor.
To date a total of 34,206 meters have been drilled at Regnault
including the initial discovery drill program in early 2020. The
program will conclude the fiscal 2021 budget approved by the Joint
Venture in May 2021. The upcoming
fiscal 2022 budget is expected to be announced later in the first
quarter. Exploration at the Frotet Project is co-funded with Joint
Venture partner, Sumitomo Metal Mining Canada Ltd. and Kenorland
Minerals is currently the operator of the Joint Venture.
About the Frotet Project
Figure 2. Map of Frotet Project showing Regional Till
Sampling Geochemical Results
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 and Kenorland is presently the operator of the
project. Any party which does not contribute and is diluted
below a 10% interest, converts its interest to an 2% uncapped net
smelter royalty.
QA/QC and Core Sampling Protocols
All drill core samples were collected under the supervision of
Kenorland employees. Drill core was transported from the drill
platform to the logging facility where it was logged, photographed,
and split by diamond saw prior to being sampled. Samples were then
bagged, and blanks and certified reference materials were inserted
at regular intervals. Groups of samples were placed in large bags,
sealed with numbered tags to maintain a chain-of-custody, and
transported from Chibougamau to BV
laboratory in Timmins,
Ontario.
Sample preparation and analytical work for this drill program
was carried out by Bureau Veritas Commodities, Timmins, Ontario. Samples were prepared
for analysis according to BV method PRP70-250: individual samples
were crushed to 2mm and a 250g split was pulverized for analysis
and then assayed for Gold. Gold in samples was analyzed by fire
assay with AAS finish and over-limits re-analyzed gravimetrically.
In zones with macroscopic gold the samples were first screened, and
the fine fraction was fire assayed with AAS finish.
Multi-element geochemical analysis (45 elements) was performed on
all samples using BV method MA200 where a 0.25g split is heated in
HNO3, HClO4, and HF to fuming and taken to dryness. The residue is
dissolved in HCl and analysed by a combination of ICP-ES/MS.
All results passed the QAQC screening at the lab, and all company
inserted standards and blanks returned results that were within
acceptable limits.
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 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, the Chicobi Project is optioned to Sumitomo, and the
Chebistuan Project is optioned to Newmont Corporation. In
Ontario, the Company holds the
South Uchi Project under an earn-in agreement with a wholly owned
subsidiary of Barrick Gold Corporation. The Company also owns
100% of the advanced stage Tanacross porphyry Cu-Au-Mo 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.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/kenorland-minerals-begins-drilling-at-regnault-quebec-301459161.html
SOURCE Kenorland Minerals Ltd.