Kenorland Minerals (TSXV: KLD; OTC: KLDCF) is forming a joint venture with Sumitomo Metal Mining Canada for Kenorland’s Chicobi gold project. Sumitomo earned a 51% interest by completing $4.9 million in exploration expenses.
The Chicobi property, 30 km northeast of Amos, Que., covers 51,257 ha over a 45-km strike length of the Chicobi deformation zone (CDZ). This zone is analogous to other major breaks in the Abitibi, such as the Cadillac-Larder Lake, Casa Berardi, Sunday Lake, and Lower Detour zones. The property hosts potential orogenic gold mineralization.
The next $1.5-million exploration phase will be 100% funded by Sumitomo. This phase of work includes 160 sonic infill drill holes within the Chicobi deformation zone (CDZ). Thereafter, exploration will be funded on a pro rata basis with Kenorland as operator.
More information about exploration at Chicobi and Kenorland’s other properties is posted on www.KenorlandMinerals.com.
April 23, 2024
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