Kenorland drills 15.4 m of 17.96 g/t Au at Frotet

Dec 20, 2021

2021-12-20 09:17 ET – News Release

Mr. Zach Flood reports

KENORLAND MINERALS INTERSECTS 17.96 G/T AU OVER 15.40M AT REGNAULT

Kenorland Minerals Ltd. has released initial drill results from the recently completed 17,792-metre diamond drill program at the Regnault gold discovery within the Frotet project, located in Northern Quebec and held under joint venture with Sumitomo Metal Mining Canada Ltd. (SMMCL). Assays from 32 of the 57 drill holes completed during the program, including 9,824 metres, are reported herein. Results from the remaining 25 holes (7,968 metres) will be reported once all assays have been received and compiled.

Highlights include the following:

21RDD056A: 15.40 m at 17.96 grams per tonne (g/t) Au including 7.20 m at 36.29 g/t Au;
21RDD060: 3.00 m at 32.21 g/t Au;
21RDD074: 3.45m at 17.53 g/t Au incl. 0.50 m at 114.60 g/t Au;
21RDD077: 14.20m at 3.91 g/t Au incl. 2.73 m at 15.34 g/t Au;
21RDD082A: 1.60m at 28.34 g/t Au

Zach Flood, President and CEO of Kenorland Minerals, states, “Our most recent drilling efforts at Regnault have delivered outstanding results as we continue to demonstrate scale, grade and continuity along multiple mineralized structures. The known extent of the system has grown with each program and our understanding of the controls on mineralization are developing rapidly. We look forward to announcing the remaining results in the near future as well as preparing the next phase of drilling scheduled to commence in January.”

Discussion of Results

The 17,792 meter drill program was designed to systematically step-out along strike and down dip of the known structures (R1, R2 East, and R2 West Trends) to gain better understanding of the structural and lithological controls on gold mineralization, as well as explore for other mineralized structures within the Regnault gold system. Significant results along the R1 Trend continue to indicate multiple significant gold bearing structures. Holes 21RDD056A, which stepped out approximately 100m to the east of 21RDD024 ( 5.72m at 90.56 g/t Au see press release dated May 26, 2021) returned 15.40m at 17.96 g/t Au. Hole 21RDD060 stepped out approximately 60m further to the east beyond 21RDD056A and intersected 3.00m at 32.21 g/t Au. Hole 21RDD074 drilled across the R1 structure approximately 270m to the west of 21RDD024 and intersected 3.45m at 17.53 g/t Au incl. 0.50m at 114.60 g/t Au. Drilling along the R1 Trend was completed at approximately 50-meter centers and extended the known presence of shear-hosted mineralization along 750m of strike length and to depths of 275m below surface. The R1 Trend remains open along strike and at depth.

Gold mineralization along the R1 Trend is associated with generally E-W trending and steeply north-dipping shear zones. Mineralized structures transect both the multiphase Regnault intrusive complex and surrounding volcanic rocks and are defined by zones of moderate-strong strain, biotite-calcite plus or minus silica-chlorite alteration and disseminated pyrite (locally up to 3-10%). High grade intercepts are characteristically shear-hosted, laminated quartz-carbonate-pyrite veins, often haloed by variably deformed extensional stockwork quartz veining locally containing up to 20% pyrite along with trace chalcopyrite and occasional Au plus or minus Ag tellurides and visible gold.

Drilling completed on the R2 Trend has identified gold mineralization along 950m of strike length trending east-northeast and to depths of 350m below surface. High grade gold has been intersected in stacked, shallow north dipping extensional type quartz veins (dominant style for R2 West), and E-W trending, steeply north-dipping shear hosted quartz-carbonate veins (the dominant style of mineralization for R2 East and similar in nature to the R1 Trend). The R2 trend also remains open along strike and down dip.

At R2 West, stepping out on approximately 50-meter centers, drilling demonstrated the presence of several high grade, stacked quartz veins. Hole 21RDD077 drilled approximately 50m to the west of 20RDD002 ( 0.77m at 14.60 g/t Au and 3.75m at 16.06 g/t Au – see press release dated July 29, 2020 ) and returned intercepts of 2.73m at 15.34 g/t Au and 7.50m at 3.06 g/t Au. Hole 21RDD082A drilled approximately 50m to the east of 20RDD002 and returned 1.60m at 28.34 g/t Au, 1.23m at 13.90 g/t Au, 1.19m at 14.12 g/t Au, and 2.81m at 5.81 g/t Au.

The R2 East shear zone is located along the northern margin of R2 West and trends eastward where shearing intersects the volcanic diorite contact resulting in rheological controlled zones of dilation and vein formation. In this target area drilling followed up on the previous intercept of 20RDD015 ( 4.93m at 9.59 g/t Au see press release July 29, 2020 ). Significant high-grade results at R2 East include 21RDD054, which drilled 50m to the east and 190m down dip of 20RDD015, intersecting 1.01m at 26.33 g/t Au. Broad intervals of mineralization were also encountered, such as 21RDD063, which drilled 160m to the east of 20RDD015 and intersected several mineralized zones including 22.00m at 0.73 g/t Au.

Francis MacDonald, Executive Vice President of Exploration commented, “The summer 2021 Regnault drill program was designed to step-out aggressively from previous intersects along the R1 and R2 vein corridors, down to a vertical depth of approximately 250-350 meters, targeting new mineralized zones within the Regnault gold system. We are very impressed with the exceptional grades over considerable widths from this campaign as well as the strike length which is developing along these structures. The R1 corridor remains open in both directions, and with significant down-dip potential, as the vertical extent has only been tested to 275m depth. Importantly, wider zones of high grade mineralisation are beginning to take shape within the R1 structural corridor which will drive targeting for the upcoming Q1 2022 drill campaign. We also recognize R2 as a very significant target as our understanding of the geometry of shear and extensional veins continues to develop. We look forward to the remainder of the results from outstanding holes, many of which have tested new areas within the Regnault gold system with the goal of establishing new gold-bearing structures.

To date a total of 34,206m has been drilled at Regnault including the initial discovery drill program in early 2020. Following the recently concluded program, which results are partially reported herein, planning has begun for a winter drill program commencing in January 2022. The upcoming program will conclude the fiscal 2021 budget approved by the Joint Venture in May 2021. The project is currently operated by Kenorland Minerals Ltd. and exploration is co-funded with joint venture partner, Sumitomo Metal Mining Canada Ltd.

Qualified Person

Mr. Jan Wozniewski, B. Sc., P. Geo., OGQ (#2239) is the “Qualified Person” under National Instrument 43-101, has reviewed and approved the scientific and technical information in this press release.

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. (“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 under 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.

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 in Quebec where work is being completed under joint venture and earn-in agreement from third parties. The Frotet Project is held under joint venture with Sumitomo, the Chicobi Project is optioned to Sumitomo, and the Chebistuan Project is optioned to Newmont Corporation. In Ontario, the Company holds the South Uchi Project under an earn-in agreement with a wholly owned subsidiary of Barrick Gold Corporation. The Company also owns 100% of the advanced stage Tanacross porphyry Cu-Au-Mo project as well as an option to earn up to 70% from Newmont Corporation on the Healy Project, both located in Alaska, USA.

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https://kenorlandminerals.com/