Kenorland reports major gold resource at Frotet, backs 4% royalty

Kenorland Minerals (TSXV: KLD; US-OTCQX: KLDCF) unveiled an inaugural inferred mineral resource for the Regnault gold deposit at the Frotet project in northern Quebec. The project is located 100 km north of Chibougamau, Quebec. The resource estimate indicates 14.5 million tonnes at 5.47 g/t gold for 2.55 million ounces of gold. Sumitomo Metal Mining Canada owns and operates the project, while Kenorland holds a 4% net smelter return (NSR) royalty.

The resource estimate incorporated data from 289 drill holes totaling 127,217 metres. The deposit remains open in multiple directions, suggesting potential for resource expansion. The estimate includes 92 high-grade veins defined using a 2.50 g/t gold cut-off and a broader low-grade envelope of 91 veins at a 0.30 g/t gold cut-off.

The resource is constrained within underground resource panels based on cut-off grades of 2.15 g/t gold for long-hole stopes and 2.61 g/t gold for cut-and-fill stopes. A 100-metre crown pillar was excluded from the estimate.

Drilling has intersected high-grade gold mineralization beyond the current resource boundaries. Several areas, including 19 modeled high-grade shells, did not meet the drill-spacing requirements for Inferred classification. The southern portion of the system, including the R10 and R11 vein sets and parts of the R9 trend, shows potential for additional high-grade mineralization with further infill drilling.

Kenorland initially staked the project in 2017 and entered into a joint venture with Sumitomo in 2018. The Regnault gold deposit was discovered in 2020 after two years of systematic exploration.

On February 19, 2024, Kenorland exchanged its 20% participating interest in the Frotet joint venture for a 4% NSR royalty.

Zach Flood, President and CEO of Kenorland, commented on the resource estimate, emphasizing its significance for the company and the potential for further expansion of the deposit.

Further information can be found on the company's website at www.KenorlandMinerals.com.