kenorland minerals stock price

Kenorland Minerals Provides Exploration Update

 
 
 

  Kenorland Minerals Ltd. Logo (CNW Group/Kenorland Minerals Ltd.) 

 
 

Kenorland Minerals Ltd. (TSXV: KLD) (OTCQX: NWRCF) (FSE: 3WQ0) ( "Kenorland" or "the Company" ) is pleased to provide an update on its 2021 exploration activities covering multiple projects located across North America .

 

   Summary of 2021 Summer-Fall Exploration:   

 
  •   Frotet Project , Quebec   (Joint Venture with Sumitomo Metal Mining):   18,000m diamond drill program
  •  
  •   Healy Project , Alaska   (Optioned from Newmont Corporation):   5,000m maiden diamond drill program
  •  
  •   Tanacross Project , Alaska   (100% owned): soil geochemistry, UAV magnetic, and IP surveys
  •  
  •   Chicobi Project , Quebec   (Optioned to Sumitomo Metal Mining): Geophysics (UAV magnetics, IP, EM)
  •  
  •   Hunter Project , Quebec   (100% owned): Property-wide airborne VTEM geophysical survey
  •  
  •   Chebistuan Project , Quebec   (Optioned to Newmont Corporation): Phase 2 soil geochemistry survey
  •  
  •   South Uchi Project , Ontario   (100% owned): LIDAR survey and regional till sampling (planned for fall)
  •  

  Francis MacDonald , Executive Vice President of Exploration, commented, "We are carrying out a significant amount of exploration this year, which is shaping up to be our largest yet in terms of both sole-funded, and partner-funded budgets. There is over C$17 million of exploration happening across our portfolio, with the majority of that spend going towards drill programs at the Frotet Project, in Quebec , which is currently under JV with Sumitomo Metal Mining, as well as the Healy Project, in Alaska , which we have optioned from Newmont Corporation, with the balance advancing our 'pipeline' of greenfield projects, located in Quebec and Ontario . With over C$11 million of these expenditures funded through partners on projects which we remain operator, Kenorland not only shares the risk of exploration but also generates significant revenue through management fees and cash payments, which we estimate will be over C$2 million this year alone."

 

  Figure 1. Kenorland Minerals North American Project Locations  

 
 

  Figure 1. Kenorland Minerals North American Project Locations (CNW Group/Kenorland Minerals Ltd.) 

 
 

  Zach Flood , President and CEO states, "Our mission at Kenorland has always been to maximize shareholder return through exploration success. We take a long-term approach with multiple grassroots projects being advanced through the pipeline at all times.  Some of our projects are sole funded, some are farmed out, while other assets are sold entirely for equity and royalty interests, depending on how a project fits within our risk profile.  We believe that scale, creativity and flexibility are fundamental to building value and optionality within an exploration portfolio. Any of these projects may result in a significant discovery, as we have already witnessed at Frotet through the grassroots discovery of Regnault last year. With interest in over 1 million acres of ground, all which has seen various stages of systematic exploration and being actively explored, we are confident that our efforts will return significant gains to our shareholders."

 

   2021 Exploration Update   

 

  Frotet Project, Quebec (80/20 Joint Venture with Sumitomo Metal Mining Canada Ltd.) : The Company has completed 9,889 meters of diamond drilling from the recently announced program consisting of up to 18,000 meters (see press release date July 14, 2021 ) allocated for infill and step-out drilling along the R1 and R2 gold-bearing structures as well as follow-up on additional zones of mineralization within the Regnault trend. In addition to drilling at Regnault, till and soil geochemical surveys as well as prospecting campaigns were completed on several regional areas of interest within the Frotet Project. This work has yielded a number of robust geochemical anomalies which warrant follow-up exploration including detailed geophysics in preparation for drill targeting.  Drill testing of these regional target areas is tentatively planned for Q1 2022.

 

  Healy Project, Alaska (Optioned from Newmont Corporation) : The ongoing drill program at Healy   (see press release date June 3, 2021   ) has been extended to include over 5,000 meters of diamond drilling to systematically test the Bronk, Thor and Spike target areas.  The Company has also completed 5 line-kilometers of high-powered induced polarization (IP) and magnetotellurics (MT) which transects the entire Healy gold system.  A total of 4,821 meters has been drilled to date and complete assays from the drill program are expected to be announced in Fall 2021.

 

  Tanacross Project, Alaska (100% owned) : The Company has completed an extensive soil geochemical and mapping survey covering East Taurus, West Taurus, and South Taurus prospects as well as the Big Creek target.  A total of 1870 soil samples have been collected and sent for analysis. Detailed UAV magnetics surveys, consisting of over 600 line-kilometers, was flown over the same target areas.  The Company has also completed 5 line-kilometers of high-powered IP and MT over the South Taurus target. Due to delays of the geochemical and geophysical surveys, the previously announced drill program planned at Tanacross has been put on hold until further notice, and the budget was reallocated to complete additional drilling at the Healy Project.

 

  Chicobi Project, Quebec (Optioned to Sumitomo Metal Mining Canada Ltd.) : The Company has received all assay and gold grain counts from the Phase 3 sonic drill-for-till geochemical program.  A coherent, multi-element (including gold) anomaly, 'Target B', was identified from multiple sonic drilling campaigns which began with a property-wide regional survey in 2019. Detailed geophysical surveys are now being planned to refine drill targets within the anomaly.  These geophysical surveys, which include drone magnetics, IP, and electromagnetics (EM), are planned for fall 2021. Initial diamond drill testing is tentatively scheduled for Q1 2022.

 

  Hunter Project, Quebec (100% owned) : The Company has completed a property-wide airborne Versatile Time Domain Electromagnetic (VTEM) geophysical survey covering the 18,177-hectare project aimed to identify potential volcanogenic massive sulphide (VMS) targets for follow-up exploration.  A total of 1,104 line-kilometers were flown at a spacing of 200m .

 

  Chebistuan Project, Quebec (Optioned to Newmont Corporation) : The Company has completed the Phase 2 geochemical survey following up on multiple anomalous areas of interest defined from the initial regional program in 2020. A total of 2,121 soil samples were collected for geochemical analysis and 225 till samples collected for gold grain analysis.  A follow-up prospecting campaign is tentatively planned for the Fall.

 

  South Uchi Project, Ontario (100% owned) : The Company has completed a LIDAR survey and surficial geology map covering the 76,511-hectare project.  This data has been used for planning a first pass till geochemistry program scheduled for the Fall.

 

   Other Equity and Royalty Interests   

 

  Rupert Project (LiFT Power Ltd - Private) Kenorland recently optioned the Rupert Lithium Project, located in Quebec , to LiFT Power in return for a 10% equity interest in the company upon listing and a 2% uncapped NSR.  A first-pass regional till sampling program has been completed covering ~1000 km 2 of the prospective geologic sub-province boundary that hosts the Whabouchi lithium pegmatite deposit.

 

  Napoleon Project (J2 Metals Inc. - Private) – The Company recently vended the Napoleon Project, located in Alaska to J2 Metals for a significant equity position and 2% uncapped NSR.  J2 is currently carrying out a 3,000m rotary air blast (RAB) drill program to test multiple gold-bearing structures.

 

  Fox River Project (Superior Nickel Corp. - Private) – The Company recently vended two mineral exploration licenses covering prospective Ni sulphide targets in the Fox River Belt in Manitoba in return for a significant equity position and 2% uncapped NSR, as well as an exploration commitment to complete 2,000m of diamond drilling to test various Ni-sulphide targets within the belt.

 

  Goldrange and Thibert Projects (Kingfisher Metals Ltd. - TSXV: KFR): The Company holds a 2% uncapped NSR on the Goldrange and Thibert Projects as well as a significant equity position in Kingfisher.  A 5,000m maiden diamond drill program is currently underway at Goldrange to test a large-scale gold-in-soil anomaly related to a previously undrilled gold system.

 

  Prospector Royalty Corp. (Private) – The Company owns an approximate 40% stake in Prospector Royalty Corp., a private royalty generation and acquisition company which recently received a C$2 million strategic investment from Gold Royalty Corp. (NYSE: GROY).

 

  Koulou Gold Corp. (Private) – The Company owns a 20% stake in Koulou Gold, a private West Africa -focused gold exploration company.

 

  Qualified Person  

 

Mr. Jan Wozniewski , B. Sc., P. Geo., OGQ (#2239) is the "Qualified Person" under National Instrument 43-101, has reviewed and approved the scientific and technical information in this press 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.   

 
 
 

 Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/kenorland-minerals-provides-exploration-update-301370926.html  

 

SOURCE Kenorland Minerals Ltd.

 
 

News Provided by PR Newswire via QuoteMedia

The Conversation (0)
Gold bars with text: "5 Top Canadian Mining Stocks This Week."

Top 5 Canadian Mining Stocks This Week: Avanti Gold Gains 158 Percent on Misisi Settlement

Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.

Statistics Canada released its June Labour Force Survey on Friday (July 11). The data indicated that 83,000 new jobs were added to the workforce, led by 34,000 new employees in the wholesale and retail trade category and a 17,000 worker rise in the healthcare and social assistance category.

In other positive news for the Canadian job market, the overall employment rate rose by 0.1 percent to 60.9 percent, while the unemployment rate declined by 0.1 percent to 6.9 percent.

Keep reading...Show less
Gold bar on nuggets with "5 Top Australian Mining Stocks" text overlay.

Top 5 Australian Mining Stocks This Week: Yandal Shares Double on Arrakis Drilling Results

Welcome to the Investing News Network's weekly round-up of Australia’s top-performing mining stocks on the ASX, starting with news in Australia's resource sector.

This week's top-performing stocks list is dominated by oil and gas companies, alongside gold and lithium companies.

In Australian mining news, the Fair Work Commission ruled that BHP (ASX:BHP,NYSE:BHP,LSE:BHP) must raise the wages of 2,200 workers at three coal mines in Queensland. The workers in question were employed indirectly through a hiring firm and were being paid significantly less than their peers working directly under BHP.

The case was brought by two worker's unions and based on the Same Job, Same Pay reforms made by the government last year. To align wages, the FWC ruled BHP must raise the labour hire employees' wages by AU$30,000 each.

Keep reading...Show less
Pilbara region, Western Australia, Australia.

Pilbara 2.0: Inside Australia’s Newest Gold Frontier

The Central Pilbara region of Western Australia is undergoing a quiet revolution that is rapidly reshaping the global gold exploration landscape.

Once dismissed as a technically challenging and geologically inconsistent terrain, Pilbara is now emerging as one of the world’s most exciting new gold frontiers and drawing serious attention from institutional investors, driven by transformative discoveries, a maturing geological model and a wave of junior explorers tapping into underexplored intrusive-hosted systems.

Anchored by the multimillion-ounce Hemi discovery — one of the most significant gold finds in Australia in over a decade — this region is not just proving its geological potential, but also demonstrating the kind of scale, consistency and margin profile that modern gold investors seek. As the discovery window remains wide open and valuations are still accessible, the Central Pilbara presents a rare opportunity for early exposure to what may become one of Australia’s next tier-one gold districts.

Keep reading...Show less
A mining truck within the outline of Australia's map on a clear day.

Is Australia on the Brink of a New Mining Super Cycle?

Mining remains as a cornerstone of Australia’s GDP and export earnings, but current global challenges such as trade disputes and price changes may be straining its foundations.

A recent FocusEconomics report tackled Australia’s resource wealth, tracing from the gold rushes of the 1850s to the iron ore and coal booms of the 21st century.

Keep reading...Show less
Kobo Resources Confirms Additional High-Grade Gold Mineralization at Kossou with 15.5 m at 2.3 g/t Au, incl. 8.3 m at 3.43 g/t Au; Outlines Next Phase of Exploration at Kossou

Kobo Resources Confirms Additional High-Grade Gold Mineralization at Kossou with 15.5 m at 2.3 g/t Au, incl. 8.3 m at 3.43 g/t Au; Outlines Next Phase of Exploration at Kossou

 
  •   High-grade gold intercepts highlighted by 15.5 m at 2.30 g/t Au, incl. 8.3 m at 3.43 g/t Au at the Road Cut Zone  
  •  
  •   Initial drilling on the gap between Jagger and Road Cut Zone confirms target structure, warrants further testing  
  •  
  •   Current drill phase complete; Geological modelling and planning underway for 15,000 m drill program expected to begin in H2 2025  
  •  

 

 Kobo Resources Inc. (" Kobo" or the " Company ") ( TSX.V: KRI ) is pleased to report additional diamond drill results from the Road Cut Zone at its 100%-owned Kossou Gold Project (" Kossou ") in Côte d'Ivoire. Results from these holes continue to strengthen the Company's understanding of the key structural controls that define this prospective target area.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×