Kenorland Commences 2025 Winter Drill Program at the South Uchi Project, Ontario
Kenorland Commences 2025 Winter Drill
Program at the South Uchi Project, Ontario
Vancouver, British Columbia--(Newsfile Corp. - February 12, 2025) -
Kenorland Minerals Ltd.
(TSXV:
KLD) (OTCQX: KLDCF) (FSE: 3WQ0) ("
Kenorland
" or the "
Company
") is pleased to announce the
commencement of the maiden diamond drill program at the South Uchi Project (the "
Project
"), located
in the Red Lake District of Ontario and held under an option agreement with Auranova Resources Inc.
("
Auranova
").
Q1 2025 Winter Exploration Program
A total budget of $8.0 million has been approved by Auranova for the Winter 2025 exploration program.
The maiden drill program will include up to 15,000m of diamond drilling as an initial test of the Papaonga
target identified through systematic exploration carried out since 2021. During the 2024 exploration
campaign, prospecting identified newly discovered, widespread gold mineralisation across the target
area, with rock sampling assay results of up to 13.35 g/t Au. Kenorland is operator of the Project, and
drilling activities are expected to conclude in late-March.
Figure 1. Plan map of Papaonga target area with planned drill hole locations and gold-in-till
geochemistry
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Papaonga Target Drill Program Summary
The maiden 15,000m drill program will consist of approximately 30 drill holes testing high-priority
structural corridors over the 6km strike length of the Papaonga target. It is defined by a large gold-in-till
and heavy mineral concentrate (HMC) gold grain anomaly, with newly discovered bedrock gold
mineralisation consisting of quartz-sulfide veins and disseminated sulfide (see press release dated
September 11, 2024). The underlying geology lies within the eastern pressure shadow of an interpreted
early (pre to syn-tectonic) diorite pluton bounded by regional first order, major east-west trending
deformation zones to the north and south. Northeast-trending, second-order structures have intensely
deformed, folded, and offset the geologically complex stratigraphy. Drilling will target three principal
target areas: the sheared margin of the Papaonga diorite, northeast-trending shear zones transecting
folded clastic sedimentary rocks, iron formation and volcanic stratigraphy underlying the north arm of
Papaonga Lake, and east-west trending shear zones through folded calc-alkaline and tholeiitic volcanic
rocks along the eastern arm of Papaonga Lake. No historical drilling has been conducted within the
Papaonga target area.
Figure 2. Papaonga target and Target B geology, till geochemistry, gold grain counts and rock
geochemistry
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About South Uchi Project
The South Uchi Project was first identified and staked by Kenorland based on the region's prospectivity
to host significant gold mineralised systems. The Project covers a portion of Confederation Assemblage
volcanic rocks, as well as the boundary between the Uchi geological subprovince to the north and the
English River geological subprovince to the south. Multiple major east-west striking deformation zones
associated with the subprovince boundary transect the Project, resulting in zones of strong shearing and
folding of the supracrustal stratigraphy, which are favourable settings for orogenic gold mineralisation.
Prior to Kenorland staking the Project, records indicated little to no systematic exploration had been
completed, and the land package remained under-explored. The majority of gold deposits in the Red
Lake District (Red Lake, Madsen, Hasaga, and others) are located on the northern margin of the
Confederation Assemblage. However, recent discoveries such as the LP Fault Zone on the Dixie Project
by Great Bear Resources Ltd. (acquired by Kinross Gold and renamed Great Bear Project) highlight the
prospectivity of the entire Confederation Assemblage along the southern margin of the Uchi
subprovince.
Figure 3. Regional volcanic assemblages with significant gold deposits and South Uchi Project
location
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1
Kinross reports 2023 fourth-quarter and full-year results: (Date February 14, 2024) - Updated resource to the technical report titled Great Bear
Project Ontario, Canada prepared by Nicos Pfeiffer, P.Geo., John Sims, CPG, Yves Breau, P.Eng., Rick Greenwood, P.Geo., Agung Prawasono,
P.Eng., issued February 13, 2023
Kenorland announced on December 2, 2024, that it had entered into a definitive agreement with
Auranova, granting Auranova the right to earn up to a 70% interest in the South Uchi Project. Pursuant to
the agreement, Auranova may earn an initial 51% interest in the Project by making cash payments
totalling $500,000 to Kenorland, completing a diamond drilling program with at least $8,000,000 in
qualifying expenditures or completing 15,000m of drilling within two years of receiving a drill permit,
issuing Kenorland 19.9% of Auranova's common shares, and maintaining Kenorland's 19.9% share
position until Auranova raises a minimum of $10,000,000 through share issuances, after which
Kenorland's stake will remain at 10% on a pro-rata basis through to the completion of a Preliminary
Economic Assessment (the "
PEA
"). Auranova may earn an additional 19% interest, for a total of 70%
interest in the Project, by incurring an additional $10,000,000 in qualifying expenditures on or before the
third anniversary of Auranova's election to proceed with the second option. Kenorland will also retain a
30% carried interest in the Project through to the completion of the PEA, at which point a joint venture will
be formed.
Kenorland also holds a 2% net smelter return royalty on the Project (see press release dated September
16, 2024).
Qualified Person
Mr. Janek Wozniewski, B.Sc., P.Geo. (EGBC #172781, APEGS #77522, EGMB #48045, PGO #3824),
a "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. (TSXV: KLD) is a well-financed mineral exploration company focused on project
generation and early-stage exploration in North America. Kenorland's exploration strategy is to advance
greenfields projects through systematic, property-wide, phased exploration surveys financed primarily
through exploration partnerships including option to joint venture agreements. Kenorland holds a 4% net
smelter return royalty on the Frotet Project in Quebec which is owned by Sumitomo Metal Mining Canada
Ltd. The Frotet Project hosts the Regnault gold system, a greenfields discovery made by Kenorland and
Sumitomo Metal Mining Canada Ltd. in 2020. Kenorland is based in Vancouver, British Columbia,
Canada.
Further information can be found on the Company's website
www.kenorlandminerals.com
On behalf of the Board of Directors,
Zach Flood
President, CEO & Director
For further information, please contact:
Alex Muir, CFA
Corporate Development and Investor Relations Manager
Tel +1 604 568 6005
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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