VANCOUVER, BC, June 3, 2021 /CNW/ - Kenorland Minerals Ltd.
(TSXV: KLD) (FSE: 3WQ0) ("Kenorland" or "the Company") is
pleased to announce the commencement of drilling at the Healy
Project (the "Project"), located within Alaska's prolific Goodpaster mining district.
This maiden diamond drill program will consist of approximately
4,000 meters over 10 holes, testing 3 target areas defined by
strong gold in soil anomalism. The drill program is scheduled
to last approximately two months and will be completed near the end
of July.
Zach Flood, CEO of Kenorland
states, "We're thrilled to be back in Alaska and kicking off the maiden diamond
drill program at Healy. This
project represents an excellent opportunity for another completely
greenfields gold discovery. The systematic regional
exploration work completed by Newmont from 2010 to 2013 initially
identified the presence of this significant gold system. When
we optioned the ground in 2018, we continued the exploration
efforts and have since then refined a number of high priority drill
targets within these large-scale gold-in-soil anomalies. What's
even more exciting is that this system sits within a district that
hosts one of the major Alaskan gold mines, Pogo."
Figure 1. Plan Map of Healy Target Areas and Proposed Diamond
Drilling
Advanced Exploration Targets
In 2019, the Company carried out a reconnaissance style
track-mounted reverse circulation (RC) drill program consisting of
a total of 800m from 10 shallow
holes. The drilling encountered broadly disseminated gold
mineralization over a 100 meter wide structural corridor within the
Bronk Zone, including 0.42g/t Au over 49.4m, from surface, and bottoming in
mineralization (see press release dated October 21, 2019). In 2020 the Company completed
detailed geochemical and geophysical surveys covering multiple
target areas. This work included infill soil sampling at a spacing
of 50m by 50m, a high-resolution airborne magnetic survey
as well as ground VLF electromagnetic (VLF-EM) and ground magnetic
surveys. In addition, the company completed 10 vertical
profiles of 2D induced polarization geophysics (IP) for a total of
10 line kilometers over selected targets within the areas defined
by detailed soil sampling, magnetic and EM surveys. The results of
the comprehensive 2020 field program clearly defined multiple
robust gold-in-soil anomalies associated with structural features
and IP anomalies within all target areas.
Figure 2. Drilling Now Underway at the Healy Project
About the Healy Project
Located in the prolific Goodpaster Mining District of
Alaska, home of the Pogo gold
mine, the Healy Project covers numerous untested gold targets
within an 18,470-hectare land package. The Healy Project was
first identified and staked by Newmont Corporation
("Newmont") in 2012, following a two-year regional stream
sediment sampling program in eastern Alaska. Follow-up prospecting, mapping and
systematic soil sampling defined numerous, kilometer-scale gold,
arsenic and antimony in soil anomalies. Healy is located along a major northeast
trending fault system, as well as the prospective regional contact
between metasedimentary rocks and Cretaceous intrusive rocks,
similar to the neighbouring Pogo and Tibbs areas. The property
scale structural geology is defined by numerous low-angle thrust
faults cut by steeply dipping northeast trending faults. Gold
anomalism seems to be spatially associated with both steeply
dipping faults and low angle thrust faults. No recorded exploration
work had been done on the Healy Project prior to Newmont in 2012
and 2013. In 2018, Kenorland Minerals (formally Northway Resources
Corp.) entered into an option agreement to earn up to a 70%
interest in the project by funding US$4
million in exploration expenditures over a period of four
years.
Figure 3. Location Map of Healy Project
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 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.