VANCOUVER, BC, May 26, 2021 /CNW/ - Kenorland Minerals
Ltd. (TSXV: KLD) (FSE: 3WQ0) ("Kenorland" or
"the Company") is pleased to announce initial drill results
from the recently completed 8,591m
diamond drill program at the Regnault gold discovery within the
Frotet Project ("the Project"), located in northern
Quebec. Assays from 15 of the 30 drill holes completed
during the program, including 3,487 meters, are reported
herein. Results from the remaining 15 holes will be reported
once all assays have been received and compiled. The company
also announces that Sumitomo Metal Mining Canada Ltd.
("SMMCL") has fulfilled its requirement to earn-in to
an 80% interest in the Frotet Project. As a result SMMCL and
Kenorland will contribute to further exploration expenditures on an
80:20 basis, respectively. Kenorland will continue as operator
under the joint venture agreement.
Highlights from drilling include the following:
- 21RDD024: 5.72m at 90.56 g/t Au incl. 3.89m at
132.57 g/t Au
- 21RDD029B: 3.64m at 6.37 g/t Au incl.
0.32m at 60.80 g/t Au
- 21RDD031: 2.70m at 15.87 g/t Au incl.
1.08m at 38.27 g/t Au
- 21RDD037: 25.33m at 6.29 g/t Au incl.
0.51m at 48.90 g/t Au and incl. 4.59m at
22.06 g/t Au
- 21RDD038: 9.20m at 3.78 g/t Au
incl. 2.80m at 9.81 g/t Au
Figure 3. Table of Results
Hole
ID
|
From
(m)
|
To
(m)
|
Length
(m)
|
Au
(g/t)
|
Ag
(g/t)
|
Residual Au
(g/t)
|
21RDD024
|
|
47.39
|
57.64
|
10.25
|
0.74
|
0.61
|
0.40
|
Incl.
|
47.39
|
48.00
|
0.61
|
5.98
|
4.50
|
|
|
82.07
|
87.79
|
5.72
|
90.56
|
109.95
|
1.26
|
Incl.
|
82.47
|
86.36
|
3.89
|
132.57
|
161.01
|
|
21RDD025
|
|
88.37
|
93.95
|
5.58
|
1.02
|
1.84
|
|
|
129.80
|
137.45
|
7.65
|
1.34
|
2.00
|
0.72
|
Incl.
|
133.10
|
133.44
|
0.34
|
14.50
|
19.20
|
|
21RDD026
|
|
165.69
|
179.20
|
13.51
|
0.35
|
0.26
|
|
21RDD027
|
|
56.90
|
60.00
|
3.10
|
0.71
|
0.70
|
0.35
|
Incl.
|
57.24
|
57.54
|
0.30
|
4.08
|
3.40
|
|
21RDD028
|
|
9.18
|
10.00
|
0.82
|
3.26
|
2.05
|
|
21RDD029_B
|
|
178.75
|
182.39
|
3.64
|
6.37
|
6.64
|
1.12
|
Incl.
|
181.30
|
181.62
|
0.32
|
60.80
|
59.10
|
|
21RDD030
|
|
9.60
|
16.08
|
6.48
|
0.90
|
0.28
|
0.33
|
Incl.
|
9.60
|
10.21
|
0.61
|
6.37
|
1.80
|
|
|
78.40
|
84.90
|
6.50
|
0.64
|
0.68
|
|
|
88.37
|
91.36
|
2.99
|
5.75
|
4.51
|
3.85
|
Incl.
|
90.56
|
91.36
|
0.80
|
10.94
|
6.82
|
|
21RDD031
|
|
13.76
|
16.46
|
2.70
|
15.87
|
18.84
|
0.94
|
Incl.
|
15.08
|
16.16
|
1.08
|
38.27
|
46.07
|
|
21RDD031_A
|
|
13.70
|
16.44
|
2.74
|
4.36
|
3.01
|
2.16
|
Incl.
|
14.76
|
15.60
|
0.84
|
9.33
|
5.75
|
|
|
62.36
|
70.54
|
8.18
|
1.08
|
0.34
|
0.95
|
Incl.
|
64.31
|
64.61
|
0.30
|
4.53
|
0.80
|
|
|
173.06
|
187.61
|
14.55
|
0.89
|
1.01
|
|
21RDD032
|
|
93.19
|
96.38
|
3.19
|
1.47
|
0.42
|
0.91
|
Inlc.
|
96.00
|
96.38
|
0.38
|
5.65
|
2.00
|
|
|
153.90
|
158.77
|
4.87
|
3.80
|
3.29
|
0.34
|
Incl.
|
157.90
|
158.77
|
0.87
|
19.70
|
16.80
|
|
|
168.00
|
174.54
|
6.54
|
1.84
|
1.65
|
1.59
|
Incl.
|
169.00
|
170.00
|
1.00
|
3.21
|
2.60
|
|
21RDD033
|
|
258.83
|
267.64
|
8.81
|
1.93
|
1.09
|
1.33
|
Incl.
|
265.00
|
265.94
|
0.94
|
7.00
|
4.29
|
|
|
316.93
|
322.77
|
5.84
|
0.95
|
1.02
|
|
21RDD034
|
|
215.00
|
227.64
|
12.64
|
0.49
|
0.65
|
|
21RDD036
|
|
142.44
|
143.40
|
0.96
|
7.10
|
4.38
|
1.07
|
Incl.
|
142.74
|
143.08
|
0.34
|
18.10
|
11.10
|
|
21RDD037
|
|
132.00
|
157.33
|
25.33
|
6.29
|
7.59
|
1.64
|
Incl.
|
142.55
|
143.06
|
0.51
|
48.90
|
53.90
|
|
And
Incl.
|
147.98
|
152.57
|
4.59
|
22.06
|
29.08
|
|
21RDD038
|
|
68.80
|
78.00
|
9.20
|
3.78
|
4.10
|
1.14
|
Incl.
|
69.40
|
72.20
|
2.80
|
9.81
|
9.74
|
|
Discussion of Results
The holes reported within this release were following up on
mineralization encountered during the initial drill programs in
early 2020 which resulted in the discovery of the Regnault gold
system (see press release date July
29, 2020). 14 of the reported 15 drill holes
intersected notable mineralization, including 21RDD024, which
intersected 5.72m at 90.56 g/t Au, as
well as 21RDD037, a 250 meter step-out to the west of 21RDD024,
which intersected 25.33m at 6.29 g/t
Au. The gold mineralization is associated with shear zones
transecting the multiphase Regnault intrusive complex, as well as
along contacts between intrusive and volcanic rocks. Disseminated
pyrite associated with biotite-calcite ± silica alteration occurs
as broad zones of weak disseminations within the intrusive rocks,
to strong mineralization (locally 3-10% pyrite, along with trace
chalcopyrite-galena-molybdenite and occasional visible gold) within
quartz-carbonate veins and alteration halos related to shear zones.
An additional 15 drill holes from this latest drill program, which
focused on near to regional targets within the Regnault trend, will
be reported once all remaining assays have been received and
compiled.
The company's understanding of the Regnault gold system, namely
the orientation of mineralized structures has developed
significantly throughout this latest round of drilling. The
R1 vein corridor which was intercepted on the initial discovery
program (20RDD007: 29.08m at 8.49 g/t Au incl. 11.13m at
18.43 g/t Au) is now defined as a shear hosted, laminated
quartz-carbonate-pyrite vein system hosted within the intrusive
complex, striking in a general east-west direction and dipping
steeply to the north. Step-outs from this program have
delineated an approximate strike of 550 meters along the R1
structure, which remains open to the east, west, and down
dip. True widths along this structure are not currently well
defined with the amount of drilling to completed to date. The
upcoming summer drill program, which will include up to 20,000
meters of drilling, will be designed to systematically infill and
step-out further along this vein corridor, both horizontally and
vertically, as well as target additional gold-bearing structures
throughout the Regnault trend.
Continued exploration drilling at Regnault since early 2020 has
indicated a robust gold system hosting high-grade mineralization
along multiple structures within a growing footprint, which is now
approximately two kilometers by 500 meters. The Company,
along with its joint venture partner, Sumitomo Metal Mining, looks
forward to the continued advancement of this discovery through the
upcoming 2021 summer drill program.
Zach Flood, CEO of Kenorland
Minerals, states, "We are very excited by the latest drill
results at Regnault. This discovery continues to deliver
high-grade gold intercepts, indicating the robust nature of the
system. Most importantly, our understanding of the
orientation of these gold-bearing structures has evolved greatly
throughout this latest round of drilling. Going forward, this will
allow us to expand on known mineralization and target additional
gold bearing structures within the Regnault trend. We are
very excited to ramp up our exploration efforts into the next phase
beginning in July, which will include up to 20,000 meters of
additional diamond drilling."
Figure 4. Drill Collar Table
Hole
ID
|
Easting
(NAD83)
|
Northing
(NAD83)
|
Elevation
(m)
|
Depth
(m)
|
Dip
|
Azimuth
|
21RDD024
|
519437
|
5620758
|
376
|
138
|
-52
|
122
|
21RDD025
|
519386
|
5620789
|
376
|
201
|
-49
|
122
|
21RDD026
|
519526
|
5621015
|
376
|
210
|
-45
|
339
|
21RDD027
|
519252
|
5620877
|
376
|
219
|
-50
|
302
|
21RDD028
|
519484
|
5620956
|
376
|
111
|
-45
|
302
|
21RDD029
|
519495
|
5620853
|
376
|
13.6
|
-45
|
140
|
21RDD029_A
|
519495.3
|
5620852.7
|
376
|
21
|
-45
|
140
|
21RDD029_B
|
519495.5
|
5620852.4
|
376
|
246
|
-45
|
140
|
21RDD030
|
519700
|
5620800
|
376
|
165
|
-48
|
128
|
21RDD031
|
519798
|
5621223
|
376
|
43.66
|
-52
|
310
|
21RDD031_A
|
519797.7
|
5621223.3
|
376
|
252
|
-52
|
310
|
21RDD032
|
519574
|
5620855
|
376
|
222
|
-47
|
142
|
21RDD033
|
519353
|
5620898
|
376
|
339
|
-45
|
122
|
21RDD034
|
519570
|
5620912
|
376
|
237
|
-45
|
302
|
21RDD035
|
519397
|
5620699
|
376
|
152
|
-45
|
122
|
21RDD036
|
519263
|
5620584
|
376
|
297
|
-48
|
122
|
21RDD037
|
519319
|
5620678
|
376
|
372
|
-45
|
295
|
21RDD038
|
519345
|
5620780
|
376
|
248
|
-45
|
142
|
Sumitomo Completes Earn-in, Joint Venture is Formed
Following completion of this recent drill program, Sumitomo
Metal Mining has now exercised its option to acquire an 80%
interest in the Project by completing an additional C$4 million of expenditures within a one year
period of acquiring its initial 65% interest in the Project.
Going forward, the project will be held under Joint Venture between
Sumitomo Metal Mining Canada Ltd. (80%) and Kenorland Minerals Ltd.
(20%). Exploration will be go funded on a pro-rata
basis.
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
Kenorland 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.
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 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.