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Kenorland Minerals Ltd. (TSXV: KLD) (FSE: 3WQ0) ( "Kenorland" or "the Company" ) is pleased to announce the commencement of drilling at the Healy Project ( the "Project" ), located within Alaska's prolific Goodpaster mining district. This maiden diamond drill program will consist of approximately 4,000 meters over 10 holes, testing 3 target areas defined by strong gold in soil anomalism. The drill program is scheduled to last approximately two months and will be completed near the end of July.
Zach Flood , CEO of Kenorland states, "We're thrilled to be back in Alaska and kicking off the maiden diamond drill program at Healy . This project represents an excellent opportunity for another completely greenfields gold discovery. The systematic regional exploration work completed by Newmont from 2010 to 2013 initially identified the presence of this significant gold system. When we optioned the ground in 2018, we continued the exploration efforts and have since then refined a number of high priority drill targets within these large-scale gold-in-soil anomalies. What's even more exciting is that this system sits within a district that hosts one of the major Alaskan gold mines, Pogo."
Figure 1. Plan Map of Healy Target Areas and Proposed Diamond Drilling
Advanced Exploration Targets
In 2019, the Company carried out a reconnaissance style track-mounted reverse circulation (RC) drill program consisting of a total of 800m from 10 shallow holes. The drilling encountered broadly disseminated gold mineralization over a 100 meter wide structural corridor within the Bronk Zone, including 0.42g/t Au over 49.4m , from surface, and bottoming in mineralization (see press release dated October 21, 2019 ). In 2020 the Company completed detailed geochemical and geophysical surveys covering multiple target areas. This work included infill soil sampling at a spacing of 50m by 50m , a high-resolution airborne magnetic survey as well as ground VLF electromagnetic (VLF-EM) and ground magnetic surveys. In addition, the company completed 10 vertical profiles of 2D induced polarization geophysics (IP) for a total of 10 line kilometers over selected targets within the areas defined by detailed soil sampling, magnetic and EM surveys. The results of the comprehensive 2020 field program clearly defined multiple robust gold-in-soil anomalies associated with structural features and IP anomalies within all target areas.
Figure 2. Drilling Now Underway at the Healy Project
About the Healy Project
Located in the prolific Goodpaster Mining District of Alaska , home of the Pogo gold mine, the Healy Project covers numerous untested gold targets within an 18,470-hectare land package. The Healy Project was first identified and staked by Newmont Corporation ( "Newmont" ) in 2012, following a two-year regional stream sediment sampling program in eastern Alaska . Follow-up prospecting, mapping and systematic soil sampling defined numerous, kilometer-scale gold, arsenic and antimony in soil anomalies. Healy is located along a major northeast trending fault system, as well as the prospective regional contact between metasedimentary rocks and Cretaceous intrusive rocks, similar to the neighbouring Pogo and Tibbs areas. The property scale structural geology is defined by numerous low-angle thrust faults cut by steeply dipping northeast trending faults. Gold anomalism seems to be spatially associated with both steeply dipping faults and low angle thrust faults. No recorded exploration work had been done on the Healy Project prior to Newmont in 2012 and 2013. In 2018, Kenorland Minerals (formally Northway Resources Corp.) entered into an option agreement to earn up to a 70% interest in the project by funding US$4 million in exploration expenditures over a period of four years.
Figure 3. Location Map of Healy Project
Qualified Persons
Janek Wozniewski , P.Geo. (OGQ #2239), Exploration Manager of Kenorland Minerals Ltd., Qualified Person under NI 43- 101 on standards of disclosure for mineral projects, has reviewed and approved the technical content of this release.
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 Metal Mining Canada Ltd. (SMMCL), the Chicobi Project is optioned to SMMCL, and the Chebistuan Project is optioned to Newmont Corporation. The Company also owns 100% of the advanced stage Tanacross porphyry Cu-Au project as well as an option to earn up to 70% from Newmont Corporation on the Healy Project, both located in Alaska, USA .
Further information can be found on the Company's website www.kenorlandminerals.com
Kenorland Minerals Ltd.
Zach Flood
President and CEO
Tel: +1 604 363 1779
zach@kenorlandminerals.com
Kenorland Minerals Ltd.
Francis MacDonald
Executive Vice President
Tel: +1 778 322 8705
francis@kenorlandminerals.com
Cautionary Statement Regarding Forward Looking Statements
This news release contains forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "plans", "expects', "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "will be taken", "occur" or "be achieved". Forward looking statements involve risks, uncertainties and other factors disclosed under the heading "Risk Factors" and elsewhere in the Company's filings with Canadian securities regulators, that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although the Company believes that the assumptions and factors used in preparing these forward-looking statements are reasonable based upon the information currently available to management as of the date hereof, actual results and developments may differ materially from those contemplated by these statements. Readers are therefore cautioned not to place undue reliance on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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SOURCE Kenorland Minerals Ltd.
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