VANCOUVER, BC, March 4, 2021 /CNW/ - Kenorland Minerals
Ltd. (TSXV: KLD) ("Kenorland" or "the Company")
is pleased to announce the commencement of drilling at Regnault
within the Frotet Project (the "Project") located in the
Frotet-Evans greenstone belt of Quebec.
The program will include up to 9,000 meters of diamond drilling
to follow-up on the initial discovery made in 2020 where the
Company intersected 29.08m at 8.47g/t
Au including 11.13m at 18.43g/t Au
during the maiden drill program testing a greenfield target (see
press release dated July 29,
2020).
The announced drill program will see approximately 6,000 meters
of drilling allocated within the 'Regnault Discovery Area',
stepping out from previous significant drill intercepts as well as
testing new targets within the two kilometer strike length of known
mineralization. The remaining 3,000 meters will be allocated
to testing further targets within the 'Regnault South' area, a
three kilometer trend of continual gold in till anomalism along
strike of the initial discovery area.
The previously announced 129 line-km 3D IP survey is well
underway and processed data covering the discovery area has been
utilized for drill targeting. The remainder of the survey
along Regnault South will be completed in the coming weeks.
Further information regarding these targets will be communicated to
the market once the entire survey is completed.
Zach Flood, CEO of Kenorland
states, "We're delighted to have the drills turning again on this
incredible discovery. In mineral exploration, the odds of
finding a completely new, and significant gold system are extremely
rare. I believe we've succeeded in that and the objective now
is to expand the footprint, and define the limits and continuity of
mineralization."
About the Frotet Project
The Frotet Project was first identified by Kenorland in 2017
after completing a regional prospectively study over the Abitibi
and Frotet-Evans Greenstone Belts. The Frotet-Evans greenstone belt
hosts the Troilus Au-Cu deposit which produced more than two
million ounces of gold and ~70,000 tons of Cu between 1996-2010,
and currently contains 3.97Moz Au indicated and 1.53Moz Au inferred
(Troilus Gold website). 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 owned 65% SMMCL and 35% Kenorland. SMMCL has the
option to earn an additional 15% (80% total) by funding an
additional C$4 million before
October 1st, 2021.
Once a joint venture is formed, any party which is diluted below a
10% interest will convert their interest to a 2% uncapped net
smelter royalty.
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 (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 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 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
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.
