Kenorland Intersects 138.74 g/t Au over 3.15m at R5 and Announces New Vein Discoveries in Deeper Drilling at Regnault
Kenorland Intersects 138.74 g/t Au over 3.15m
at R5 and Announces New Vein Discoveries in
Deeper Drilling at Regnault
Vancouver, British Columbia--(Newsfile Corp. - May 31, 2023) -
Kenorland Minerals Ltd. (TSXV:
KLD) (OTCQX: KLDCF) (FSE: 3WQ0)
("
Kenorland
"
or the "
Company
") is pleased to announce
initial drill results from the 2023 winter drill 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
"). Assays from 7 of 15 drill holes completed, including 6,681 meters of the
13,360-meter program are reported herein. The Company is also pleased to report the discovery of
multiple additional mineralised vein structures encountered in deep drilling of the Regnault gold system.
Drill highlights include the following:
23RDD163:
15.00m at 14.88 g/t Au incl. 2.00m at 57.15 g/t Au
at R1
23RDD167:
3.15m at 138.74 g/t Au incl. 0.40m at 476.40 g/t Au
at R5
23RDD167:
3.43m at 43.23 g/t Au incl. 0.44m at 174.30 g/t Au
at R5
23RDD162:
7.10m at 12.24 g/t Au incl. 1.70m at 45.14 g/t Au
at R2-R8 Gap
23RDD159:
1.20m at 55.70 g/t Au
(new vein discovery)
Figure 1. Plan map of Regnault drilling (previously reported, currently reported and assays pending)
To view an enhanced version of this graphic, please visit:
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Zach Flood, President and CEO of Kenorland, states,
"Incredible work by the team on this program and
throughout the discovery of this major gold system. As our geologists have been developing a robust
geologic model, Regnault is becoming remarkably predictable in the sense of geometry and
repetition of sub-parallel vein structures at depth. Given our continued success in finding new veins on
each drill program, I believe the odds of further discoveries in the future is great, and we will continue
to grow what is already a very large, high-grade gold system."
Discussion of Results
The 2023 winter drill program was largely designed to test the strike and depth extent of multiple new
vein discoveries made in 2022, including the R5, R6, R7, and R8 structures. Drilling was focused in an
area between these new vein discoveries to the east and the R2 and R3 structures to the west, where
there had been limited drilling to date. All drill holes intersected significant mineralisation across multiple
structures, linking the eastern vein discoveries to the western structures, defining a corridor of up to 1.8
kilometers of strike containing multiple sub-parallel vein structures hosting high-grade gold
mineralisation.
In addition to step-out and infill drilling along known structures, deep drilling was designed to explore for
additional sub-parallel veins at depth and towards the south of known mineralised structures. The deep
holes, up to 1,614m in length (1,250m vertical depth), successfully intersected multiple new vein
discoveries, significantly extending the known footprint of the Regnault gold system to vertical depths of
over one kilometer. 23RDD159 intersected
1.20m at 55.70 g/t Au
, a new vein discovery, and the
deepest known mineralisation returned to date at 1,000 meters vertical depth.
Figure 2. Cross section through R1-R8 with new vein discoveries (1000m section width; looking east)
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6489/168127_c0f623b24439abf3_002full.jpg
Fifteen drill holes completed during the 2023 winter drill program were designed to infill along the R1
trend while targeting deeper mineralisation to the south. Highlights along the R1 trend include hole
23RDD163 which returned
15.00m at 14.88 g/t Au incl. 1.10m at 37.04 g/t Au and incl. 2.00m at
57.15 g/t Au
, located 50m down-dip from 21RDD024 (5.72m at 90.56 g/t Au*). Drill holes targeting a
large gap in drilling at depth along the R1 and R5 trends includes 23RDD167 which returned
3.43m at
43.23 g/t Au incl. 0.44m at 174.30 g/t Au, and 3.15m at 138.74 g/t Au incl. 0.40m at 476.40 g/t Au,
approximately 70m to the west of 22RDD143 (1.83m at 18.09 g/t Au, and 2.31m at 8.97 g/t Au incl.
0.44m at 32.40 g/t Au**).
To the south of the R1 trend, drilling has successfully intersected mineralisation linking the R2-R3 (west)
and R5-R6-R7-R8 (east) structural corridor, demonstrating a known strike length of 1,800m. Drill holes
completed within this gap zone include 23RDD159 which returned
9.62m at 4.22 g/t Au incl. 0.40m at
57.60 g/t Au
, located 230m west of hole 23RDD162 which returned
7.10m at 12.24 g/t Au incl. 1.70m
at 45.14 g/t Au
.
Drill holes 23RDD159, 23RDD162 and 23RDD172 were designed to explore for additional sub-parallel
veins at depth towards the south of known mineralised structures. Hole 23RDD159 intersected several
newly discovered mineralised structures including
4.75m at 5.97 g/t Au incl. 0.50m at 46.70 g/t Au
,
and
1.20m at 55.70 g/t Au
. Drill hole 23RDD162 also intersected several new mineralised structures,
approximately 275m to the east of 23RDD159, including
17.57m at 1.45 g/t Au
,
6.25m at 2.29 g/t Au
,
and 2.01m at 5.25 g/t Au
, confirming the significance of these newly discovered mineralised structures.
Assay results from hole 23RDD172 remain pending. Geologic and vein models will be updated once all
assays have been received from the 2023 winter drill campaign.
(* See press release May 26, 2021)
(** See press release November 14, 2022)
Table 1. Table of partial results from the 2023 winter drill program
HOLE ID
From (m)
To (m)
Interval (m)
†
Au (g/t)
Ag (g/t)
Residual Au (g/t)
‡
23RDD159
307.52
317.14
9.62
4.22
3.53
1.90
Incl.
315.78
316.18
0.40
57.60
56.70
And
615.00
621.00
6.00
0.96
1.08
And
813.00
826.50
13.50
0.77
0.98
And
870.00
871.50
1.50
11.50
5.10
And
1034.10
1038.85
4.75
5.97
5.90
1.17
Incl.
1036.55
1037.05
0.50
46.70
43.80
And
1057.30
1066.50
9.20
0.62
0.81
And
1179.60
1180.80
1.20
55.70
51.23
23RDD160
149.00
159.20
10.20
4.12
3.04
1.65
Incl.
156.46
157.60
1.14
23.75
14.27
And
285.00
287.55
2.55
4.05
2.87
1.33
Incl.
286.93
287.55
0.62
12.50
7.60
And
311.00
313.00
2.00
4.54
2.10
And
347.56
351.60
4.04
4.65
6.89
1.19
Incl.
348.50
349.00
0.50
29.10
46.40
And
427.15
445.40
18.25
0.59
0.51
And
452.31
456.75
4.44
5.13
7.09
1.12
Incl.
452.85
453.15
0.30
60.50
89.50
And
464.00
469.70
5.70
3.21
2.74
2.00
Incl.
467.26
468.46
1.20
7.73
5.41
And
543.60
548.50
4.90
1.89
0.33
1.28
Incl.
546.00
547.00
1.00
4.28
0.80
And
624.79
628.30
3.51
7.88
10.23
1.94
Incl.
624.79
625.15
0.36
59.90
90.40
And
696.50
702.00
5.50
5.26
3.52
1.64
Incl.
700.90
701.50
0.60
34.80
25.70
And
716.60
719.10
2.50
17.83
6.35
3.21
Incl.
718.30
719.10
0.80
48.90
15.90
And
782.30
793.90
11.60
0.99
0.94
And
876.00
881.80
5.80
1.40
1.12
23RDD161
34.95
45.50
10.55
0.53
0.57
And
358.30
359.70
1.40
7.81
8.09
1.76
Incl.
358.90
359.40
0.50
18.70
20.30
And
478.70
479.30
0.60
59.40
68.10
And
500.20
514.55
14.35
1.97
2.55
1.03
Incl.
502.40
504.12
1.72
8.83
11.91
23RDD162
357.50
364.60
7.10
12.24
6.87
1.88
Incl.
360.45
362.15
1.70
45.14
25.22
And
514.70
517.40
2.70
2.34
1.90
And
545.80
546.80
1.00
7.18
5.60
And
592.20
594.75
2.55
2.06
2.10
And
664.50
682.07
17.57
1.45
1.59
1.20
Incl.
672.87
675.00
2.13
3.22
4.06
And
1018.50
1029.55
11.05
1.30
1.10
And
1040.75
1047.00
6.25
2.29
1.56
1.19
Incl.
1043.20
1044.20
1.00
8.09
4.70
And
1054.00
1068.00
14.00
0.84
0.66
And
1075.50
1081.50
6.00
1.41
1.13
And
1107.46
1109.47
2.01
5.25
5.49
23RDD163
125.40
140.40
15.00
14.88
13.06
5.72
Incl.
125.90
127.00
1.10
37.04
35.88
And Incl.
134.50
136.50
2.00
57.15
42.90
And
310.00
313.30
3.30
11.50
5.22
And
501.14
517.30
16.16
1.27
1.27
1.02
Incl.
504.00
505.26
1.26
4.25
1.77
And
675.00
679.00
4.00
1.95
1.85
1.45
Incl.
676.00
677.00
1.00
3.46
2.60
177.36
179.00
1.64
19.61
6.26
1.81
Incl.
177.36
177.74
0.38
78.60
25.80
And
273.30
275.00
1.70
3.47
2.09
23RDD164
And
285.12
292.00
6.88
1.33
1.16
And
305.00
307.00
2.00
5.07
7.43
And
375.70
378.40
2.70
2.73
1.67
1.78
Incl.
375.70
376.06
0.36
8.93
3.00
And
495.47
505.68
10.21
1.21
1.17
And
588.39
589.98
1.59
6.32
3.59
0.98
Incl.
589.60
589.98
0.38
23.30
13.30
And
600.66
603.26
2.60
16.43
9.17
3.46
Incl.
600.66
601.10
0.44
80.10
43.40
And
756.00
762.00
6.00
0.90
0.82
And
793.78
798.80
5.02
1.20
0.85
And
922.50
926.00
3.50
1.54
0.94
And
964.73
966.00
1.27
4.30
3.56
23RDD167
77.20
78.20
1.00
5.89
1.89
And
157.80
162.00
4.20
1.74
1.03
And
176.00
181.55
5.55
1.04
1.17
And
194.50
199.80
5.30
4.30
4.38
2.80
Incl.
198.80
199.25
0.45
20.40
20.00
And
221.40
238.00
16.60
0.77
0.92
And
336.50
343.30
6.80
1.15
0.60
And
347.05
348.20
1.15
10.60
3.69
And
420.20
427.00
6.80
1.14
1.34
And
444.27
447.70
3.43
43.23
33.05
23.94
Incl.
444.76
445.20
0.44
174.30
96.50
And
466.45
469.60
3.15
138.74
95.28
89.62
Incl.
466.45
466.85
0.40
476.40
129.60
And
495.50
497.17
1.67
3.60
1.66
1.58
Incl.
496.00
496.35
0.35
11.20
3.80
And
527.61
532.73
5.12
1.06
0.52
HOLE ID
From (m)
To (m)
Interval (m)
†
Au (g/t)
Ag (g/t)
Residual Au (g/t)
‡
†
Assay intervals reported are core lengths, true widths have not been determined
‡
Residual Au (g/t) represents the average grade of the drill hole interval excluding the highlighted internal interval
Table 2. Drill collar table of reported drill holes from the 2023 winter drill program
Hole ID
Easting (NAD83)
Northing (NAD83)
Elevation (m)
Depth (m)
Dip
Azimuth
23RDD159
519167
5620379
375
1200.00
-58
153
23RDD160
519768
5621023
375
990.00
-61
159
23RDD161
519358
5620954
375
798.00
-62
159
23RDD162
519360
5620482
375
1164.78
-55
152
23RDD163
519463
5620818
375
857.50
-58
160
23RDD164
519632
5620965
375
975.00
-61
160
23RDD167
519772
5621135
375
696.00
-62
160
Figure 3. Map of Frotet Project showing regional till sampling geochemical results
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Exercise of Top-up Right
The Company announces that further to its press release dated April 19, 2023, the Company and
SMMCL, have completed the exercise of SMMCL's 'top-up right' to retain its 10.1% interest in the
Company as granted within the investor rights agreement dated November 5, 2021.
An aggregate of 20,006 common shares (the "
Shares
") were issued for aggregate consideration of
$15,520.14. The Shares are subject to a statutory hold period in accordance with applicable securities
legislation and the rules and policies of the TSX Venture Exchange expiring on September 5, 2023.
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., 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 the 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 and Kenorland is presently the
operator of the project. Any party which does not contribute and is diluted below a 10% interest, converts
its interest to an 2% uncapped net smelter royalty.
QA/QC and Core Sampling Protocols
All drill core samples were collected under the supervision of Kenorland employees. Drill core was
transported from the drill platform to the logging facility where it was logged, photographed, and split by
diamond saw prior to being sampled. Samples were then bagged, and blanks and certified reference
materials were inserted at regular intervals. Groups of samples were placed in large bags, sealed with
numbered tags in order to maintain a chain-of-custody, and transported from Chibougamau to Bureau
Veritas Commodities ("
BV
") laboratory in Timmins, Ontario.
Sample preparation and analytical work for this drill program were carried out by BV. Samples were
prepared for analysis according to BV method PRP70-250: individual samples were crushed to 2mm
(10 mesh) and a 250g split was pulverized to 75μm (200 mesh) for analysis and then assayed for gold.
Gold in samples were analyzed using BV method FA430 where a 30g split is analyzed with fire assay by
Pb collection and AAS finish. Over-limits gold samples were re-analyzed using BV method FA530
where a 30g split is analyzed with fire assay by Pb collection and gravimetric finish. Multi-element
geochemical analysis (45 elements) was performed on all samples using BV method MA200 where a
0.25g split is by multi-acid digest with ICP-MS/ES finish. All results passed the QA/QC screening at the
lab, all company inserted standards and blanks returned results that were within acceptable limits.
Qualified Person
Cédric Mayer, M. Sc., P. Geo. (OGQ #02385), is the "Qualified Person" under National Instrument 43-
101, has reviewed and approved the scientific and technical information in this press release.
About Kenorland Minerals Ltd.
Kenorland Minerals Ltd. (TSXV: 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 five projects in
Quebec where work is being completed under joint venture and earn-in agreements from third parties.
The Frotet Project and Chicobi Project are held under joint venture with Sumitomo, the O'Sullivan Project
is optioned to Sumitomo, the Chebistuan Project is optioned to Newmont Corporation and the Hunter
Project is held under option to Centerra Gold Inc. In Alaska, the Company holds the advanced stage
Tanacross porphyry Cu-Au-Mo project, optioned to Antofagasta, as well as a 70% interest in the Healy
Project, held under joint venture with Newmont Corporation.
Further information can be found on the Company's website
www.kenorlandminerals.com
Kenorland Minerals Ltd.
Zach Flood
President and CEO, Director
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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