Vancouver, British Columbia--(Newsfile Corp. - March 26, 2024) - Kenorland Minerals Ltd. (TSXV: KLD) (OTCQX: KLDCF) (FSE: 3WQ0) ("Kenorland" or the "Company") is pleased to announce that the Company was approved for a $300,000 grant from the Manitoba Mineral Development Fund ("MMDF") to support Kenorland's exploration program at the South Thompson Project ("Project"), located in the Thompson Nickel Belt in Manitoba, Canada.
Funded by the Government of Manitoba and administered by the Manitoba Chambers of Commerce, the purpose of the MMDF is to increase mineral and economic development in northern Manitoba. Some of the key objectives of the fund include increasing mineral exploration and development, strengthening the mining value chain in the province, advancing economic reconciliation with Indigenous communities, and supporting communities impacted by mining activity.
Zach Flood, CEO and President, states "Kenorland extends its sincere appreciation to the Manitoba Mineral Development Fund for its support in our exploration efforts at the South Thompson Nickel Project. The funds provided by MMDF will aid Kenorland in conducting a large-scale aerial electromagnetic (VTEM) survey to identify potential drill targets beneath the extensive cover rocks."
About the South Thompson Project
The South Thompson Project covers 307,753 hectares of land located approximately 200km south of the town of Thompson, Manitoba, and 80km west of the town The Pas, Manitoba. The licences cover the southern extension of the Thompson Nickel Belt, which is predominately covered by Phanerozoic cover sequences.
Compilation and digitization of historical exploration data, including 337 drillholes, have been completed along with re-processing of historical airborne magnetics and electromagnetic surveys. The Project is adjacent to the Minago and Williams Lake nickel sulphide projects and the regional wide spaced drilling has indicated anomalous Ni assays and sulphide mineralisation in ultramafics within the Project area.
The South Thompson project has seen no meaningful project-scale exploration in the last 20 years and the combination of large gaps in drilling and lack of modern geophysical techniques over the Project area represent significant opportunity for a nickel sulfide discovery. Kenorland is currently conducting a VTEM survey at the South Thompson Project.
Figure 1. South Thompson Regional Geology and Occurrences
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Qualified Person
Mr. Janek Wozniewski, B.Sc., P.Geo. (EGBC #172781, APEGS #77522, EGMB #48045, PGO #3824), "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. (TSXV: KLD) is a well-financed mineral exploration company focused on project generation and early-stage exploration in North America. Kenorland's exploration strategy is to advance greenfields projects through systematic, property-wide, phased exploration surveys financed primarily through exploration partnerships including option to joint venture agreements. Kenorland holds a 4% net smelter return royalty on the Frotet Project in Quebec which is owned by Sumitomo Metal Mining Canada Ltd. The Frotet Project hosts the Regnault gold system, a greenfields discovery made by Kenorland and Sumitomo Metal Mining Canada Ltd. in 2020. Kenorland is based in Vancouver, British Columbia, Canada.
Further information can be found on the Company's website www.kenorlandminerals.com.
On behalf of the Board of Directors,
Zach Flood
President, CEO & Director
For further information, please contact:
Alex Muir, CFA
Investor Relations Manager
Tel +1 604 568 6005
info@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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