MONTREAL, Nov. 17, 2021 (GLOBE NEWSWIRE) -- Kintavar Exploration Inc. (the “Corporation” or “Kintavar”) (TSX-V: KTR), is very pleased to announce that IAMGOLD Corporation (“IAMGOLD”) has begun drilling on the Anik Gold Project (the “Project”) in the Chapais-Chibougamau region of Quebec. The Project has been optioned out to IAMGOLD (see press release May 28, 2020) where it can earn in up to 80% interest.
IAMGOLD is evaluating several potential gold zones on the Project which have been highlighted by previous Kintavar work and by IAMGOLD in 2020 and 2021. One of the priority targets is the eastern extension of the Nelligan mineralized trend where IAMGOLD is planning to complete a minimum of 1,200 meters in November and December.
Since IAMGOLD optioned the Project, a detailed till survey, a geophysical Induced Polarization (IP) survey and a structural model were completed. Based on these results, several targets were selected where the summer field work focused. This first drilling program targets gold anomalies in the tills coinciding with the geophysical anomalies and the extensions of shear zones from Nelligan deposit, or presenting similar signatures.
“The geological work completed by IAMGOLD over the last 15 months looks very promising. The technical knowledge their team brings is second to none when it comes to this region. We are very excited working with IAMGOLD on the Anik Gold Project. We are looking forward to successful drill results and more drilling next year.” commented Kiril Mugerman, President & CEO of Kintavar Exploration.
NI-43-101 Disclosure Alain Cayer, P.Geo., MSc., Vice-President Exploration of Kintavar, is Qualified Person under NI 43‐101 guidelines who supervised and approved the preparation of the technical information in this news release.
Figure 1: Anik property overview (pdf) https://www.globenewswire.com/NewsRoom/AttachmentNg/610b1bdc-2fe2-4040-8f69-732d6f481e9f
About the Anik Property The Anik property (approx. 5,400 hectares) is situated 40 km to the south-east of the town of Chapais and 55 km to the south of the town of Chibougamau, in Québec. Located in the Opawica-Guercheville deformation corridor, it is the host to several gold mines and deposits. The eastern portion of the property is located less than 7 km from the Joe Mann mine and the Lac Meston and Phillibert deposits. The western portion of the property is located less than 10 km to the south of the Monster Lake and Fancamp gold projects. The main gold zones of the Nelligan property, are surrounded to the north, south and east by Anik property boundaries at a distance of less than 1,500 metres.
About Kintavar Exploration & the Mitchi – Wabash Properties Kintavar Exploration is a Canadian mineral exploration Corporation engaged in the acquisition, assessment, exploration and development of gold and base metal mineral properties. Its flagship project is the Mitchi – Wabash copper-silver district (approx. 39 000 hectares, 100% owned) located 100 km north of the town of Mont-Laurier and 15 km East of the town of Parent in Quebec. Both properties cover an area of more than 300 km2 accessible by a network of logging and gravel roads with access to hydro-electric power already on site, major regional roads including railroad and a spur. The properties are located in the north-western portion of the central metasedimentary belt of the Grenville geological province. The projects primarily focus on sediment-hosted stratiform copper type mineralization (SSC) but include Iron Oxide Copper Gold (IOCG) and skarn type targets. Osisko holds a 2% NSR on 27 claims of the southern portion of the Mitchi property, outside of the sedimentary basin. Kintavar also has exposure in the gold greenstones of Quebec by advancing the Anik Gold Project in a partnership with IAMGOLD and several early-stage projects that were optioned by Gitennes Exploration.
Kintavar supports local development in the Mitchi-Wabash region where it owns and operates the Fer à Cheval outfitter (www.feracheval.ca), a profitable and cashflow generating operation where it employs local workforce. It as well works with local First Nations to provide training and employment.
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