Kenorland Minerals Ltd. V.KLD

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Kenorland Minerals Provides Exploration Update

 

08 Sep 202111:04 ET

 

11:04 AM EDT, 09/08/2021 (MT Newswires) -- Kenorland Minerals (KLD.V) provided an update on its 2021 exploration activities covering multiple projects located across North America.

Francis MacDonald, Executive Vice President of Exploration, said, "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 $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 $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 $2 million this year alone."

For the fall, Kenorland is planning the following:

Chebistuan Project, Quebec (Optioned to Newmont Corporation, NGT.TO): 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.

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