Kenorland Minerals (KLD.V) has published an update on its summer plans on the Hunter gold project in Québec’s Abitibi greenstone belt.
The 2022 exploration program will consist of in excess of 400 broad spaced sonic drill holes which will allow the partners to collect glacial till for further analysis. This glacial till sits above the bedrock and below a layer of glacial lake sediments which prohibit the ‘normal’ exploration approach which would include soil sampling and till sampling. But due to the relatively thick layer of sediments and glacial tills (about 15 meters, of which the last 6.5 meters are glacial till).
The budget for this summer exploration program, which will take place from June to August, is C$1.5M and as Kenorland is the operator, it will likely receive the standard 10% operator fee. The C$1.5M commitment from Centerra Gold (CG.TO) is part of the total requirement to spend C$5M on exploration before the fourth anniversary of the agreement to establish an initial 51% stake in the project. Centerra can subsequently increase its stake to 70% by completing a resource estimate containing in excess of 1 million ounces gold-equivalent.
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