VANCOUVER, BC, July 14, 2021 /CNW/ - Kenorland Minerals
Ltd. (TSXV: KLD) (FSE: 3WQ0) ("Kenorland" or
"the Company") is pleased to announce the commencement of
the 2021 summer exploration program at the Frotet Project ("the
Project"), located in northern Quebec and held under joint venture (the
"Joint Venture") with Sumitomo Metal Mining Canada Ltd
("SMMCL").
2021 Summer Exploration Program
The summer exploration program will include up to 20,000 meters
of diamond drilling at the Regnault gold discovery. This
program follows the recently concluded winter drill program, where
the company defined the orientation of multiple gold bearing
structures, including R1 and R2, which produced numerous high-grade
intercepts, including 5.72m at 90.56
g/t Au (21RDD024) and 25.33m at 6.29
g/t Au (21RDD037) (see press release dated May 26, 2021). In addition to the drill program,
follow-up surface exploration, including mapping, prospecting,
infill till and soil geochemical sampling, along with induced
polarization (IP) geophysical surveys, will be completed over
multiple regional target areas within the Frotet Project.
Figure 1. 2021 Summer Exploration Program at the Frotet
Project, Quebec
Regnault Drill Program
Approximately 10,000 meters will be allocated for infill and
step-out drilling along the R1 structure. The vein system
will be drilled on approximately 50 meter centers, testing down to
300m depth, as well as testing
extensions along strike to the east and west. A further 4,000
meters will be allocated to step-out and infill drilling along the
R2 structure. The remainder of the drilling budget will be
used for follow-up on additional zones of mineralization
encountered along the two kilometer Regnault trend. The drill
program is expected to be completed by late October with three
drills active on site. Since the initial discovery in
early 2020, 16,641m of drilling has
been completed at Regnault.
Figure 2. Plan Map and Long
Section of Proposed Drilling along R1 and R2
Structures
Zach Flood, President and CEO,
states, "We're very excited to begin drilling again and look
forward to the most significant program the project has seen to
date, in terms of size. Now that we are gaining a better
understanding of the structural controls of the gold system at
Regnault, we can begin to advance this discovery
significantly. In addition, we look forward to developing
some of our more regional target areas to drill stage. We
believe there is great potential for further discovery, not only at
Regnault, but within the rest of the Frotet Project as well."
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
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 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 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.