Kenorland Minerals and Auranova Resources Report Drill Results at the South Uchi Project, Ontario; Auranova Completes Initial Earn-in
Kenorland Minerals and Auranova Resources
Report Drill Results at the South Uchi Project,
Ontario; Auranova Completes Initial Earn-in
Vancouver, British Columbia--(Newsfile Corp. - July 2, 2025) - Kenorland Minerals Ltd. (TSXV: KLD)
(OTCQX: KLDCF) (FSE: 3WQ0) ("
Kenorland"
or the "
Company
") and Auranova Resources Inc.
("
Auranova
") are pleased to announce complete assay results from the 2025 Winter drill program at the
South Uchi Project (the "
Project
"), located in the Red Lake District of Ontario. Assays from 27 diamond
drill holes totaling 14,365 metres are reported herein. Kenorland and Auranova also jointly report that
Auranova has completed the initial earn-in under the South Uchi option agreement, acquiring a 51%
ownership interest in the Project.
Drill Highlights:
New gold system confirmed, with widespread mineralisation intersected in maiden drilling
Gold-bearing structures traced over five kilometres across the target area
25 of 27 drill holes (93%) intersected intervals of gold assaying at least 0.1 g/t Au
15 of 27 drill holes (56%) intersected intervals of gold assaying at least 1.00 g/t Au
6 of 27 drill holes (22%) intersected intervals of gold assaying at least 5.00 g/t Au
Highest grade intercept of 14.60 g/t Au over 1.00 m
Mineralised corridor remains open in all directions
Follow-up drill program planned for late summer
Figure 1. Plan map of Papaonga with drill hole locations including highlights from this press release
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6489/257402_aeffb3e0b408abd9_001full.jpg
Zach Flood, President and CEO of Kenorland, stated:
"The results from this maiden drill program mark
a major step forward in unlocking the potential of South Uchi. Intersecting gold mineralisation across a
five-kilometre structural corridor, in an area with no previously recorded gold occurrences, validates
our early targeting efforts and highlights the scale of this newly discovered system. We look forward to
advancing the next phase of follow-up drilling with Auranova."
Tom Obradovich, CEO of Auranova, stated:
"We're excited to advance the next phase of drilling,
targeting the gold-bearing structures identified in Phase 1. With a more focused approach, we aim to
unlock the potential of this emerging gold system and gain a deeper understanding of the controls on
mineralisation."
Discussion of Results
This program marks the first-ever drilling at the Papaonga gold target, following four years of systematic
exploration. Prior to this work, no historical drilling or documented gold occurrences had been recorded
within the target area. The maiden drill program consisted of 27 diamond drill holes totaling 14,365
metres, testing a 27km
2
area identified by extensive gold-in-till and heavy mineral concentrate (HMC)
gold grain anomalies (see press release dated September 11, 2024). Widely spaced drill fences,
roughly 500 metres to greater than 1 kilometre apart were designed to test interpreted structural
corridors concealed by deep overburden and Papaonga Lake.
Widespread gold mineralisation was intersected across the Papaonga target, hosted by various rock
types including the sheared margin of the diorite, interbedded clastic sedimentary rocks and iron
formation, and the volcaniclastic-mafic volcanic rock stratigraphy. A significant gold bearing structural
corridor was intersected in multiple drill holes traced over a 5 kilometre strike length, trending east-west
across the target area and remains open. Details include:
Drill hole 25PADD023, drilled along the most eastern fence, intersected 0.50m at 7.57 g/t Au and
9.50m at 1.19 g/t Au including 0.50m at 4.76 g/t Au, containing visible gold within multi-stage
quartz and quartz-carbonate veins associated with arsenopyrite, pyrrhotite, pyrite, and trace
chalcopyrite mineralisation and sericite-silica-carbonate-chlorite alteration. Figure 2 illustrates
style of mineralisation and detailed images of visible gold intersected within 23PADD023, 147.50-
157.00m downhole.
Approximately 3 kilometres to the west along strike, drill hole 25PADD016 intersected widespread
gold anomalism including 1.35m at 7.00 g/t Au, 34.50m at 0.11 g/t Au, and 30.50m at 0.13 g/t Au.
Further to the west, approximately 1.5 kilometres along strike, drill hole 25PADD027 intersected
numerous zones of notable gold mineralisation including 25.50m at 0.20 g/t Au, 1.00m at 14.60 g/t
Au, and 8.50m at 0.48 g/t Au.
These results demonstrate widespread gold mineralisation and continuity of a significant structure
across multiple kilometres, suggesting a robust gold-rich orogenic system. The broad zones of
anomalous gold mineralisation, multiple vein and sulphide generations, visible gold, and strong
deformation intersected in the initial drill program are indicative of the long-lived nature of fluid flow and
deformation across the Papaonga target area. The major east-west trending deformation zone along
volcanic and volcaniclastic stratigraphy remains open in all directions and a priority target for follow up.
Figure 2. Drill core from hole 25PADD023 (146.1m - 159.1m) highlights a zone of intense shearing
with multiphase quartz veining, hosting 5-10% arsenopyrite, pyrrhotite, pyrite and chalcopyrite along
with visible gold, emphasized in the lower portion of the figure.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6489/257402_aeffb3e0b408abd9_002full.jpg
Next Steps
A Phase 2 drill program, up to 5,000m, is scheduled for late summer 2025, focused on expanding on the
newly discovered gold-bearing structural corridor identified during the maiden drill program. Tighter step-
outs will be planned around 25PADD023 where volcaniclastic and mafic volcanic rocks are cross-cut by
strongly mineralised shear zones, containing quartz-carbonate stockwork hosting visible gold. Broader
spaced step-outs will test the east-west trending deformation zone between 25PADD016 and
25PADD023, as well as to the east of 25PADD023, where no drilling has been conducted and bedrock
is concealed by deeper overburden.
Auranova Completes Initial Earn-In
Kenorland and Auranova jointly report that Auranova has completed the initial earn-in under the South
Uchi option agreement (see press release dated December 2, 2024), acquiring a 51% ownership
interest in the Project. As part of the earn-in milestone, Kenorland has received $500,000 in cash and
9,242,267 common shares of Auranova.
Table 1: Table of assay results from the 2025 winter drill program
HOLE ID
From (m)
To (m)
Interval (m)
Au (g/t)
25PADD007
118.50
139.85
21.35
0.49
Incl.
124.50
126.00
1.50
5.08
25PADD011
117.00
118.00
1.00
4.08
And
342.80
344.00
1.20
5.58
And
384.00
384.60
0.60
3.80
25PADD014B
446.00
474.00
28.00
0.39
Incl.
454.50
456.00
1.50
2.90
25PADD015
216.30
222.00
5.70
1.88
Incl.
216.30
217.00
0.70
7.03
25PADD016
174.90
176.25
1.35
7.00
And
219.20
253.70
34.50
0.11
And
273.55
304.05
30.50
0.13
25PADD017
413.00
414.00
1.00
4.32
25PADD023
117.00
117.50
0.50
7.57
And
147.50
157.00
9.50
1.19
Incl.
151.05
151.55
0.50
4.76
25PADD027
414.00
439.50
25.50
0.20
And
450.00
451.00
1.00
14.60
And
468.00
476.50
8.50
0.48
Table 2. Drill hole location and collar table of reported drill from the 2025 winter drill program
HOLE ID
Easting (NAD83)
Northing (NAD83)
Elevation (m)
Depth (m)
Dip
Azimuth
25PADD001
550030
5641214
418
501.00
-50
140
25PADD002
550626
5640830
408
604.30
-50
140
25PADD003
550419
5641083
423
507.00
-50
140
25PADD004
550364
5640293
405
522.00
-50
140
25PADD005
549217
5639676
406
501.00
-50
145
25PADD006
551447
5641146
415
535.00
-50
140
25PADD007
550832
5640579
403
546.00
-50
140
25PADD008
550581
5640029
403
498.00
-50
140
25PADD009
549393
5639432
410
492.85
-50
145
25PADD010
551035
5640338
400
453.00
-50
140
25PADD011
551609
5640823
411
516.00
-50
140
25PADD012
550786
5639777
398
495.00
-50
140
25PADD013
555188
5640468
394
509.30
-50
170
25PADD014
551452
5639847
394
177.40
-50
140
25PADD014A
551452
5639847
394
57.00
-60
140
25PADD014B
551452
5639847
394
537.00
-64
140
25PADD015
552239
5640084
394
469.20
-50
140
25PADD016
552437
5639844
394
534.00
-48
140
25PADD017
552024
5640338
394
540.00
-60
140
25PADD018
553039
5641285
394
501.00
-50
155
25PADD019
552087
5641199
394
468.00
-50
140
25PADD020
551816
5640586
394
600.00
-60
140
25PADD021
551185
5640150
401
600.00
-50
140
25PADD022
552307
5640990
394
483.00
-50
140
25PADD023
555138
5640775
401
531.00
-50
170
25PADD024
547966
5638698
397
522.00
-50
170
25PADD025
552949
5641666
394
555.00
-50
155
25PADD026
552774
5640830
392
585.00
-50
140
25PADD027
550868
5639581
400
525.00
-50
155
Figure 3. Regional volcanic assemblages with significant gold deposits and South Uchi Project
location
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6489/257402_aeffb3e0b408abd9_003full.jpg
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
About South Uchi Project
The South Uchi Project was first identified and staked by Kenorland based on the under-explored
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.
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 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 15,000 metres 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
"). Kenorland has received the $500,000 in cash payments and currently holds 9,242,267
common shares of Auranova. Further, 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 Persons
Mr. Janek Wozniewski, B.Sc., P.Geo. (EGBC #172781, APEGS #77522, EGMB #48045, PGO #3824),
a "Qualified Person" under National Instrument 43-101 ("
NI 43-101
"), has reviewed and approved the
scientific and technical information in this press release.
William Yeomans, P.Geo., a "Qualified Person" under National Instrument 43-101, has also reviewed
and approved the scientific and technical information in this press release. Mr. Yeomans is a gold
exploration professional with over 40 years of experience in all stages of gold exploration throughout the
Americas, including the Superior Province throughout Quebec and Ontario. He gained extensive
exploration management experience across the entire Guiana Shield with BHP and has generated
projects which resulted with significant NI 43-101 gold resources. He has worked as a consultant to
IAMGOLD and Dundee Precious Metals Inc., identifying acquisition opportunities across Canada, the
USA and South America. He is currently the President of Yeomans Geological Inc. as well as 1127637
B.C. Ltd. and has many years of experience as a board member for several junior mining companies.
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.
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.
About Auranova Resources
The Company is an unlisted reporting issuer in the Provinces of British Columbia, Alberta,
Saskatchewan and Manitoba. Its directors and major shareholders are Thomas Obradovich, Chris
Taylor, Timothy Young and William Rand. The company is focused on the discovery of new gold systems
in the Birch Uchi Belt in partnership with Kenorland Minerals Ltd. as well as expanding its presence in
the greenstone belts of Ontario.
Further information can be found on the Company's website
www.kenorlandminerals.com
On behalf of the Board of Directors of Kenorland Minerals,
Zach Flood
President, CEO & Director
For further information, please contact:
Alex Muir, CFA
Corporate Development and Investor Relations Manager
Tel +1 604 568 6005
On behalf of the Board of Directors of Auranova Resources,
Thomas Obradovich
Chief Executive Officer
Tel +1 416 985 7140
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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