Kenorland Minerals begins drilling at Frotet

May 3, 2022

2022-05-03 10:54 ET – News Release

 

Mr. Zach Flood reports

KENORLAND ANNOUNCES THE COMMENCEMENT OF DRILLING ALONG WITH 2022 EXPLORATION BUDGET AT THE FROTET PROJECT

Kenorland Minerals Ltd. has begun drilling and released the 2022 exploration budget at the Frotet project, located in Northern Quebec and held under joint venture (JV) with Sumitomo Metal Mining Canada Ltd.

Fiscal 2022 exploration budget

A total exploration budget of $12.5-million has been approved by the joint venture for continued exploration over the next 12 months. Work will include up to 40,000 metres of drilling carried out over two phases: a summer campaign from April to July of 2022, and a winter campaign from January to April of 2023.

Summer, 2022, drill campaign has commenced

The summer, 2022, drill program has commenced and will include up to 14,500 metres of diamond drilling, of which approximately 12,000 metres will be allocated toward the Regnault discovery, and up to 2,500 metres will be designated for regional exploration. This program follows the recently completed 10,880-metre winter drill program (see press release dated March 28, 2022). The company expects assays from the winter, 2022, program to be announced during the second quarter.

Zach Flood, chief executive officer of Kenorland Minerals, states: “As we begin this next phase of exploration it is important to recognize that within two years, we have taken Regnault from a blind greenfields discovery to over 45,000 metres of drilling to date, confirming a gold system of exceptional quality and scale. Although we have made incredible progress, it is still early days as the discovery unfolds.”

Regnault summer, 2022, drill program

Approximately 60 per cent of the proposed drilling will be allocated for stepout drilling along the R1, R5 and newly discovered veins (see press release dated March 28, 2022). Six drill holes are planned to significantly expand these vein systems toward the east at depth targeting plunges within the interpreted east-dipping Regnault diorite. An additional six drill holes are designed for broad-spaced stepouts toward the west along the R5 and recently discovered veins. Up to 25 per cent of the proposed program will be assigned toward stepouts along the other known vein systems, including the R2, R3 and R4 trends. The remaining 15 per cent of the proposed drill program will be allocated for exploration of additional mineralized structures to the south of known vein systems within the Regnault discovery area.

To date, a total of 45,086 metres have been drilled at Regnault since the initial discovery drill program in early 2020. The project is currently operated by Kenorland Minerals and exploration is co-financed with joint venture partner, Sumitomo Metal Mining Canada.

Frotet regional summer, 2022, drill program

Approximately 2,500 metres of diamond drilling are planned for a first pass drill program at the company’s Cressida target, 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. A continuing ground induced polarization (IP) survey is expected to be completed mid-May to help refine drill targets. The Cressida target is located between and along strike of Troilus Gold’s Southwest zone (2.5 kilometres to the northeast) and its recently discovered Beyan gold zone (three km to the southwest).

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-hectare property was acquired through map staking in March, 2017, and optioned to Sumitomo Metal Mining Canada, 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 the joint venture agreement between Sumitomo Metal Mining Canada 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.

Qualified person

Jan Wozniewski, BSc, PGeo, OGQ (No. 2239) is the qualified person under National Instrument 43-101, and 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 is held under joint venture with Sumitomo Metal Mining, the Chicobi project is optioned to Sumitomo Metal Mining, the Chebistuan project is optioned to Newmont Corp. and the Hunter project is optioned 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, United States, the company owns 100 per cent of the advanced-stage Tanacross porphyry copper-gold-molybdenum project 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/

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