Kenorland drills 29.20 m of 16.61 g/t Au at Frotet

Nov 15, 2022

2022-11-14 11:06 ET – News Release

Mr. Zach Flood reports

KENORLAND ANNOUNCES 2022 SUMMER EXPLORATION RESULTS FROM THE FROTET PROJECT, QUEBEC

Kenorland Minerals Ltd. has released final drill results from the 2022 summer drill program at the Frotet project, located in Northern Quebec and held under joint venture with Sumitomo Metal Mining Canada Ltd. (SMMCL). Assays from 23 drill holes (11,903 metres) completed at Regnault along with eight drill holes (2,511 metres) completed at Cressida are reported herein. The company has also provided an update on its plans for future exploration activities at the project.

Drill highlights:

22RDD136: 20.55 m at 2.80 grams per tonne gold, including 3.50 m at 10.72 g/t Au at R6 (2022 discovery);
22RDD141A: 20.79 m at 2.78 g/t Au, including 1.50 m at 15.28 g/t Au at R7 (2022 discovery);
22RDD144: 2.91 m at 31.52 g/t Au, including 0.34 m at 253.50 g/t Au at R5 (2022 discovery);
22RDD144: 1.85 m at 31.75 g/t Au, including 0.33 m at 147.80 g/t Au at R6 (2022 discovery);
22RDD149: 29.20 m at 16.61 g/t Au, including 9.85 m at 44.89 g/t Au at R1 (metallurgical drill hole, twinned 20RDD007).

Zach Flood, president and chief executive officer of Kenorland, commented: “The summer drill programs at the Frotet project were a great success. At Regnault we have extended the R1 system over 100 m to the east, for a total of over one kilometre of strike remaining open. We have also begun to prove continuity along the recently discovered parallel vein structures, including R5, R6, R7 and R8, located just to the south of the R1. At the Cressida target, our maiden drill program discovered gold mineralization over three kilometres away and along strike from Troilus Gold’s Southwest zone. We anticipate the next phase of exploration in Q1 2023 to include up to 25,000 m of drilling at Regnault which will be primarily focused on additional stepouts on the R1, R5, R6, R7 and R8 veins, as well as deeper drilling to test for additional parallel vein structures.”

Regnault summer drill program

A total of 11,903 m of diamond drilling, including 23 drill holes, was completed at the Regnault discovery. Drilling was mainly concentrated along the eastern margin of the intrusive complex targeting stepouts along the R1 shear zone, the R4 veins and the newly discovered vein corridors to the south of R1, including the R5, R6, R7 and R8 vein sets.

Along the R1 trend, highlights include hole 22RDD143, which stepped 200 m to the east of 22RDD131 (2.90 m at 4.75 g/t Au*) and intersected 5.40 m at 4.16 g/t Au and 1.05 m at 33.37 g/t Au. Hole 22RDD143 is one the deepest and most eastern drill holes completed to date along the R1 trend. The summer drill program has extended mineralization at R1 over 100 m to the east for a known strike length of 1,050 m and to depths of 400 m, demonstrating the potential for continued extension of high-grade mineralized structures within the east-dipping Regnault diorite intrusive.

Drilling confirmed the eastern continuity of the R5, R6, R7 and R8 shear-related quartz-sulphide veins hosting high-grade gold mineralization, which were first discovered during the winter 2022 drill program. Along the R5 vein, hole 22RDD144, which stepped 200 m to the east and up dip of 22RDD121 (2.50 m at 7.78 g/t Au**), intersected 2.91 m at 31.52 g/t Au, including 0.34 m at 253.50 g/t Au. Along the R6 vein, hole 22RDD136, which stepped 100 m to the east and down dip of 22RDD135 (2.70 m at 8.63 g/t Au, including 0.44 m at 37.80 g/t Au*), intersected 20.55 m at 2.80 g/t Au, including 3.50 m at 10.72 g/t Au. Hole 22RDD144 intersected the R6 vein 70 m up dip and farther toward the east from 22RDD136 and returned 1.85 m at 31.75 g/t Au, including 0.33 m at 147.80 g/t Au.

Drilling also extended known high-grade mineralization toward the west along the R7 and R8 vein sets. Along the R7 vein, hole 22RDD141A, which stepped 250 m to the west of 22RDD129 (20.20 m at 0.99 g/t Au**), intersected 20.79 m at 2.78 g/t Au, including 1.50 m at 15.28 g/t Au. Drilling completed during the 2022 summer drill program along the recently discovered R5, R6, R7 and R8 vein sets extends the strike length of the mineralized structures to 600 m, and to depths greater than 600 m, representing the deepest significant mineralization intersected at Regnault to date, remaining open along strike and at depth.

*See press release dated July 11, 2022

**See press release dated June 13, 2022

Gold mineralization along R1, R5, R6, R7 and R8 is associated with multiple east-west-trending and 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 ranging from 3 to 10 per cent). 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 per cent pyrite along with trace chalcopyrite, Au plus or minus Ag tellurides and visible gold.

Cressida summer drill program

A total of 2,511 m of drilling between eight drill holes were completed at the Cressida target area, located within the northwestern portion of the 39,365-hectare property. The Cressida target is located directly along strike and within the main mineralized corridor hosting the former-producing Troilus gold mine, currently being explored by Troilus Gold Corp. The Cressida target is located between and along strike of Troilus Gold’s Southwest zone (2,700 m to the northeast) and its recently discovered Beyan gold zone (3,000 m to the southwest).

Drilling intersected widespread, disseminated to stringer and banded pyrrhotite-pyrite-trace chalcopyrite mineralization within well-foliated mafic and intermediate volcanics, associated with increased biotite-calcite alteration and quartz veinlets. Two drill holes crossed a strongly altered and mineralized mafic-felsic volcanic contact identifying a new mineralized system. Hole 22CRDD004 intersected 7.93 m at 1.11 g/t Au and 1.50 g/t Ag, and hole 22CRDD007, located 330 m to the southwest of 22CRDD004, intersected 8.05 m at 0.94 g/t Au and 22.09 g/t Ag. These results represent a previous untested mineralized horizon within the Cressida area, which is open along strike and at depth for future exploration opportunities.

Upon completion of the Frotet 2022 summer drill program a total of 56,996 m has been drilled at Regnault, including the initial discovery drill program in early 2020, and at Cressida 2,511 m was completed during the first-pass drill campaign during the 2022 summer drill program. Updating geological models and drill targeting are well under way for the upcoming 2023 winter drill program.

Regnault metallurgical test work

Preliminary metallurgical test work was initiated with the completion of hole 22RDD149 that twinned the Regnault discovery hole 20RDD007 (29.08 m at 8.47 g/t Au, including 11.13 m at 18.43 g/t Au*) and intersected 29.20 m at 16.61 g/t Au, including 9.85 m at 44.89 g/t Au. Objectives of the study will include the mineralogical characteristics and assess the preliminary Au-Ag recovery through gravity circuit and cyanide amenability of the Regnault ore. The study will be carried out at the engineering department, mineral resources division of Sumitomo Metal Mining Co. Ltd. Results will be communicated once the preliminary metallurgical test work has been completed.

*See press release dated July 29, 2020

Exploration update

The joint venture is anticipating an upcoming 2023 winter drill program at Regnault which will include up to 25,000 m of diamond drilling. This program will represent the second phase of the fiscal 2022 exploration budget (see press release dated May 3, 2022) and the largest single drill program undertaken on the Regnault discovery to date. Drill targeting will be focused on broad stepouts to extend the strike length and depth of recently discovered vein sets to the south of the R1 vein system. Priority targets will include stepping out on the R5 veins and testing the 475 m gap zone between the R2-R3 shear-hosted mineralized veins and the R6-R7-R8 mineralized structures. Drilling is expected to begin late January and continue through March with four drill rigs.

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, a wholly owned subsidiary of Sumitomo Metal Mining, 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 the joint venture agreement between SMMCL and Kenorland Minerals, with interests being held at 80 per cent and 20 per cent, respectively. Under the joint venture, exploration is financed pro rata and Kenorland is presently the operator of the project. Any party which does not contribute and is diluted below a 10-per-cent interest converts its interest to a 2-per-cent uncapped net smelter royalty.

Quality assurance/quality control 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 the BV laboratory in Timmins, Ont.

Sample preparation and analytical work for this drill program were carried out by Bureau Veritas Commodities (BV), Timmins, Ont. Samples were prepared for analysis according to BV method PRP70-250: individual samples were crushed to two millimetres (10 mesh) and a 250-gram split was pulverized to 75 micrometres (200 mesh) for analysis and then assayed for gold. Gold in samples were analyzed using BV method FA430 where a 30-gram split is analyzed with fire assay by lead collection and atomic absorption spectroscopy finish. Overlimit gold samples were reanalyzed using BV method FA530 where a 30-gram split is analyzed with fire assay by Pb collection and gravimetric finish. Multielement geochemical analysis (45 elements) was performed on all samples using BV method MA200 where a 0.25-gram split is by multiacid digest with inductively coupled plasma mass spectrometry/emission spectroscopy finish. All results passed the QA/QC screening at the lab, and all company-inserted standards and blanks returned results that were within acceptable limits.

Qualified person

Janek Wozniewski, BSc, PGeo, OGQ (No. 2239), the qualified person under National Instrument 43-101, has reviewed and approved the scientific and technical information in this press release.

About Kenorland Minerals Ltd.

Kenorland Minerals is a mineral exploration company incorporated under the laws of the Province of British Columbia and based in Vancouver, B.C., Canada. Kenorland’s focus is early- to advanced-stage exploration in North America. The company currently holds four projects in Quebec where work is being completed under joint venture and earn-in agreement from third parties. The Frotet project and Chicobi project are held under joint venture with Sumitomo, the Chebistuan project is optioned to Newmont Corp., and the Hunter project is held under option to Centerra Gold Inc. In Ontario, the company holds the South Uchi project under an earn-in agreement with a wholly owned subsidiary of Barrick Gold Corp. In Alaska, the company holds the advanced-stage Tanacross porphyry copper-gold-molybdenum project, optioned to Antofagasta, as well as a 70-per-cent interest in the Healy project, held under joint venture with Newmont.

We seek Safe Harbor.

https://kenorlandminerals.com/