Kenorland Minerals (KLD.V) confirmed a gold discovery at the Opinaca project in the James Bay region of the Quebec province. The recent drill program intersected gold in seven of the eight holes that were drilled over a 4 kilometer long target area, and some of those holes returned very strong results. The bullet points below show the highlights of the drill program.
Widespread mineralization was intersected across the target area along three separate drill fences, with similarities to the Cheechoo gold deposit owned by Sirios Resources.
We still consider the 4% NSR on the Frotet project Kenorland’s most valuable asset at this moment. Partner Sumitomo recently released a maiden resource estimate, and Frotet now contains 2.55 million ounces gold at an average grade of 5.47 g/t on the Regnault gold system. Sumitomo can repurchase up to 0.75% of the NSR for C$13M.
Disclosure: The author has no position in Kenorland Minerals. This post is for educational purposes only; be mindful investing in junior mining stocks is risky and you may lose your entire investment if things go wrong. Please read the disclaimer.
