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Sherlock delivers another huge hit

Kintavar Exploration (TSXV: KTR) has reported the longest intersection to date, of 216m at 0.2% copper from 19.2m, in the final assay results from 2018 drilling at its Mitchi project in Quebec.
Sherlock delivers another huge hit Sherlock delivers another huge hit Sherlock delivers another huge hit Sherlock delivers another huge hit Sherlock delivers another huge hit

Core from the Mitchi project

Staff reporter

The intercept from the Sherlock zone also contained 2.1g/t silver and included 8m at 0.64% copper and 5.5g/t silver from 225m.

The company had reported a similar-length result exactly 12 months ago, of 206.3m at 0.18% copper and 1.65g/t silver. 

"With ongoing metallurgical testing, we are hoping to begin demonstrating some economic potential of the stratiform mineralisation of the Mitchi project and what we believe could become a district-scale project with the entire sedimentary basin having already been staked by Kintavar and royalty free," president and CEO Kiril Mugerman said.

He said as drilling advanced, the intervals became longer and grades inched higher while the Sherlock zone remained open laterally and at depth.

The company is planning to continue working on the Conan zone, where it recently confirmed near-surface copper mineralisation last week, and start extension drilling at Sherlock in the coming months.

Kintavar is honing its focus on Mitchi, announcing last month it would sell its Anik gold property for C$5 million (US$3.8 million) in shares to Monster Exploration, which is the planned spin-out of TomaGold's interests in the Monster Lake joint venture with IAMGOLD and its Irene Lake exploration projects.

Kintavar has about $6.5 million (US$4.9 million) in cash, according to a presentation this month.

Its shares were worth 65c last February but dropped to 11c in November.

They gained 13% yesterday to 26c to capitalise it about $21 million.

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