Kenorland Minerals Ltd. Debuts on the TSX Venture Exchange
Kenorland Minerals Ltd. Debuts on the TSX
Venture Exchange
Vancouver, British Columbia--(Newsfile Corp. - January 13, 2021) -
Kenorland Minerals Ltd. (TSXV:
KLD) ("Kenorland"
or
"the Company")
is pleased to announce the commencement of trading today
on the TSX Venture Exchange under the symbol "KLD".
This follows the completion of the Company's
reverse takeover of Northway Resources Corp. and subsequent $10 million private placement
announced on January 04, 2021.
Kenorland's mission is to become a leading mineral exploration company in North America and beyond,
delivering value creation to shareholders through the discovery of new mineral deposits.
The company's
primary exploration assets are located in Quebec, Canada and Alaska, USA.
Kenorland holds a
combined 400,000+ hectares of mineral tenure within the Frotet Evans and Abitibi Greenstone Belts in
Quebec, the Tintina Gold Province in eastern Alaska and the Thompson Nickel Belt in Manitoba.
The company looks forward to a very active year of exploration in 2021, with plans to advance drilling on
numerous projects across the portfolio in both Quebec and Alaska. This includes a 9,000m diamond drill
program beginning in March to follow up on the significant gold discovery made at Regnault, on the
Frotet Project located in Quebec, in 2020 (see press release dated July 29, 2020). In June, the company
plans to begin drilling at the Healy Project in Alaska to test a newly recognized gold system in the
Goodpaster District. During this time, field work will also begin at the Tanacross Project in eastern
Alaska, which hosts a large-scale porphyry copper system. In August, the drilling activities will shift from
Healy to Tanacross and carry on through September.
Figure 1. Kenorland Minerals - North American Project Locations
To view an enhanced version of Figure 1, please visit:
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Kenorland Minerals - Quebec, Canada
Figure 2. Mineral Properties of Quebec, Canada
To view an enhanced version of Figure 2, please visit:
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The
Frotet project
, currently owned 65% Sumitomo Metal Mining Canada Ltd. ("SMMCL") and 35%
Kenorland, covers 39,365 ha of the Frotet Evans greenstone belt, which hosts the past-producing Troilus
gold-copper mine.
Two years of property-wide systematic till sampling led to an initial drill program in
2020 which resulted in a significant grassroots discovery at the prospect now named Regnault. In
January, Kenorland and SMMCL plan to carry out a 158 line km 3D IP survey covering a trend of over
four kilometers of gold anomalism in glacial till and boulders, including the initial discovery area.
The IP
survey will be followed by an est. 9,000m diamond drill program beginning in March.
SMMCL has the
option to earn an additional 15% interest in the project by funding these programs.
In addition to Kenorland's flagship Frotet project, the company holds four pipeline projects in Quebec:
The
Chicobi Project
, also held under an earn-in to joint venture agreement with Sumitomo Metal Mining
Canada Ltd (SMMCL), covers 51,257 ha over the Chicobi deformation zone in the central Abitibi
Greenstone Belt.
In January, Kenorland and SMMCL will begin the third phase of sonic drill-for-till
geochemical sampling consisting of 70 infill sonic drill holes to collect glacial till samples beneath
glaciolacustrine (lake) sediments. Over the past two years, the company has systematically carried out
multiple regional geochemical drill-for-till surveys over the entire project area. Following the completion of
the upcoming Phase 3 sampling, Kenorland anticipates generating targets for subsequent testing by
diamond drilling.
The
Chebistuan Project,
held under an exploration agreement and venture option with Newmont
Corporation, covers 161,025 ha along a major deformation zone in the northern Abitibi Greenstone belt.
The project saw the completion of a property-wide geochemical survey in fall of 2020 (4,377 samples).
The company is currently evaluating results for follow-up surface work anticipated to be carried out in
summer 2021.
The
Hunter Project
(100% owned by Kenorland) covers 18,177 ha over the Hunter felsic caldera
complex in the southern Abitibi Greenstone belt. The company is planning to carryout a property wide
VTEM survey and targeted drill-for-till geochemical sampling program currently scheduled for early 2021.
The
O'Sullivan Project
- (100% owned by Kenorland), covering 27,595 ha of prospective geology
within the Abitibi Greenstone belt, adjacent to Cartier Resource's Benoist Project, saw the successful
completion of a property-wide till sampling program in the fall 2020. The company is currently evaluating
the geochemical results and looks forward to further surface work in summer 2021 to advance the
project towards initial drill testing.
Kenorland Minerals - Alaska, USA
Figure 3. Mineral Properties of Alaska, USA
To view an enhanced version of Figure 3, please visit:
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The
Healy Project
(optioned from Newmont Corporation) covers 18,470 ha within Alaska's prolific
Goodpaster mining district.
Multiple years of systematic regional exploration has led to the recognition
and discovery of a previously unknown large-scale gold system.
Detailed geochemical and geophysical
surveys carried out in 2020 aided in the definition of multiple drill targets which will be tested in 2021
during the project's initial diamond drill program.
The
Tanacross Project
(100% owned by Kenorland) in eastern Alaska hosts a significant porphyry
copper-gold system within a 45,900 ha land package. Newly acquired property-wide geochemical and
geophysical (ZTEM) data has resulted in the identification of large-scale porphyry targets. The company
is planning various geological, geochemical and geophysical surveys, followed by diamond drilling over
two target areas, East Taurus and South Taurus.
Work is scheduled to begin in June and carry on
through September 2021.
A Message from Our CEO
Zach Flood, President and CEO of Kenorland states: "We are extremely excited to begin this next
chapter of Kenorland Minerals.
The company has grown significantly since our inception in 2016 and we
look forward to continuing that progress as we enter the public markets.
Our dedicated team has done
an incredible job of seeking out and advancing new exploration opportunities and the recent grassroots
gold discovery we made in Quebec is a testament to this.
With an vast portfolio of mineral tenure in
some of the most well-endowed and politically stable jurisdictions in North America, along with the
support from our industry partners and incredible shareholders, we are well positioned for further
discovery and growth into the future."
COVID-19
Kenorland Minerals CEO Zach Flood had this to say: "Maintaining the health and safety of our people
and those of the areas we operate is imperative. We will adapt to the actions being taken by various
governments to address the threat of COVID-19. The Kenorland team will employ a dynamic strategy to
exploration in 2021 and continue to advance its flagship and pipeline projects."
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 (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 three projects
where work is being completed under an earn-in agreement from third parties. The Frotet and Chicobi
Projects, which are both located in Quebec, Canada, are optioned to Sumitomo Metal Mining Canada
Ltd. and the Chebistuan Project, also located in Quebec, is optioned to Newmont Mining. 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
Kenorland Minerals Ltd.
Francis MacDonald
Executive Vice President, Exploration
Tel: +1 604 379 3267
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.
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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/71880