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Kintavar hits plus-200m of copper mineralisation from surface

Quebec-focused Kintavar Exploration (CN: KTR) hit more than 200m of copper mineralisation from surface in the final assays from the maiden drilling programme at the Sherlock and Watson area at its Mitchi project in the Laurentides region.
Kintavar hits plus-200m of copper mineralisation from surface Kintavar hits plus-200m of copper mineralisation from surface Kintavar hits plus-200m of copper mineralisation from surface Kintavar hits plus-200m of copper mineralisation from surface Kintavar hits plus-200m of copper mineralisation from surface

Explorer planning follow-up drilling

Staff reporter

Four of the 12 holes intersected more than 100m of copper mineralisation, with the standout being 206.3m grading 0.18% copper and 1.65g/t silver, including 21.9m at 0.52% copper and 5.62g/t silver; and 16.5m at 0.5% copper and 4.3g/t silver.

"With the knowledge we gained  from this initial drilling programme and the information we will get from the ongoing geophysical surveys, this summer's drilling program should be very exciting as we will be focusing on better defining the mineralised areas, extending them and defining them in new areas of the property," CEO and president Kiril Mugerman said.

The company had just under C$450,000 (US$353,000) in working capital at the end of September and raised just over $1 million (US$780,000) at 11c per unit in a non-brokered private placement that closed in December.

Kintavar formed in March 2017 from the amalgamation of Black Springs and Géomines.

It also had eight properties in the Abitibi region but sold its Comptois property to Osisko Mining in November for $50,000 in cash (US$39,000) and a 2% NSR royalty.

Osisko also holds a 2% NSR on 39 claims in the southern portion of the Mitchi property.

Shares in Kintavar spent much of last year around the C15c mark but have shot up 200% year-to-date as drill results from Mitchi emerged, reaching a 52-week high of 65c last week.

Kintavar shares dropped almost 21% yesterday to 42c.

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