Kintavar Exploration completes maiden resource estimate for Mitchi project, Quebec

Kintavar Exploration Inc. [KTR-TSXV] successfully completed its maiden mineral resource estimate (MRE) for the Sherlock zone, Mitchi project, Quebec. The independent MRE was prepared by InnovExplo Inc. in accordance with NI 43-101 regulations.

Highlights: Measured and indicated resource of 2.99 million tonnes (Mt) at 0.4% copper (Cu) and 4 g/t silver (Ag) constrained within a shallow open pit, with a cut-off grade of 0.2% Cu; estimate is based on 66 drill holes totalling 10,150 metres completed between 2017 and 2022.

Mineral resource estimate confirms the potential of hub-and-spoke model for the Mitchi project; current study confirms the deposit is amenable to open-pit mining operations with at-surface mineralization and relatively low strip ratios.

A preliminary economic assessment will be completed to evaluate the capital costs of a hub-and-spoke model centred around the Sherlock zone and the existing infrastructure around the Fer a Cheval outfitter.

“The Sherlock zone maiden mineral resource estimate achieved its goal. The study’s objective was to delineate the first open pit for our hub-and-spoke model that we envision for the Mitchi project. With the first shallow open pit with mineralization from surface established, we can proceed to the next stages in development and exploration. The upcoming preliminary economic assessment (PEA) will establish all the economic parameters for such an operation. The PEA will need to take into consideration all the infrastructure already presents around the Fer a Cheval outfitter, a major operational hub in the area. The PEA results will guide the next infill drilling program, while other exploration activities will focus on identifying the best potential open-pit targets that could feed ore to the same mill,” commented Kiril Mugerman, president and CEO.

The resource estimate was based on a traditional metallurgical study (flotation) completed in 2019 and a well-established XRF (X-ray fluorescence) sorting technology for which a study was completed earlier in 2023.

Kintavar is very pleased to announce the nomination of Genevieve Ayotte as a new candidate for directorship. The new director will be proposed at Kintavar’s next annual general meeting. The AGM will take place Friday, June 16, 2023.

Ms. Ayotte is a member of the certified professional accountants of Quebec and graduated from HEC Montreal with a bachelor’s degree in business management and a DESS in public accounting (2008). Outside of Ms. Ayotte’s accounting profession, she also serves as president of Women in Mining, Montreal.

Kintavar Exploration is a Canadian mineral exploration corporation engaged in the acquisition, assessment, exploration and development of gold and base metal mineral properties. Its flagship project is the Mitchi-Wabash copper-silver district (approximately 39,000 hectares, 100%-owned) located 100 km north of the town of Mont-Laurier and 15 km east of the town of Parent in Quebec. Both properties cover an area of more than 300 square km accessible by a network of logging and gravel roads with access to hydroelectric power already on site, major regional roads, including railroad and a spur.

The properties are located in the northwestern portion of the central metasedimentary belt of the Grenville geological province. The projects primarily focus on sediment-hosted stratiform copper-type mineralization (SSC) but include iron oxide-copper-gold (IOCG) and skarn-type targets. Osisko holds a 2% NSR on 27 claims of the southern portion of the Mitchi property, outside of the sedimentary basin. Kintavar also has exposure in the gold greenstones of Quebec by advancing the Anik gold project in a partnership with Iamgold and several early-stage projects that were optioned by Gitennes Exploration.