Kenorland Minerals Ltd. (TSXV: KLD, OTCQX: KLDCF, FSE: 3WQ0) has announced significant developments regarding its Chebistuan Project in Quebec, as it prepares for a winter 2025 drill program and welcomes Newmont Corporation’s entry into Phase 2 of their earn-in agreement. This strategic collaboration aims to enhance exploration efforts at the Deux Orignaux prospect, further solidifying Kenorland’s position in the competitive mineral exploration landscape.
The forthcoming drill program, approved by Newmont, is set to commence in the first quarter of 2025 and will involve up to 3,500 meters of drilling. This initiative follows an initial successful drilling campaign conducted in early 2023, which revealed promising mineralization at the Deux Orignaux target area. Notably, drill hole 23DODD005 returned an impressive 157.20 meters at an average grade of 0.41 grams per tonne (g/t) gold, including a higher-grade interval of 20.61 meters at 0.97 g/t gold.
The upcoming phase will not only follow up on these encouraging results but will also explore additional targets identified through geophysical surveys that suggest the presence of syenite plugs, potentially rich sources of gold.
The Deux Orignaux target area is a grassroots prospect that has garnered attention due to its geological characteristics and previous exploration successes. Systematic geochemical surveys conducted in 2020 covering the 159,690 hectare project and detailed till sampling in subsequent years have defined this area as having anomalous gold and multi-element geochemistry, alongside the discovery of gold grains in glacial overburden.
Further exploration efforts have included airborne magnetic surveys and induced polarization (IP) studies that have helped delineate the mineralized intrusion along a significant geological contact between sedimentary and volcanic formations. This geological setting is known for hosting substantial mineral deposits, making it a prime target for continued exploration.
Newmont has officially provided notice to Kenorland to enter Phase 2 of their earn-in agreement, which could see Newmont increase its participating interest from 51% to 80% in the Chebistuan Project. To complete this phase, Newmont is required to make a one-time cash payment of C$200,000 within 30 days and incur qualifying expenditures aimed at defining a resource of at least 1.5 million ounces of gold through a pre-feasibility study compliant with NI 43-101 standards within six years. This partnership structure allows Kenorland to retain a significant stake while leveraging Newmont’s extensive resources and expertise in advancing the project toward potential development.
Acquired through map staking in December 2019 and optioned to Newmont in July 2020, the Chebistuan Project spans approximately 100 kilometers along a major east-west trending deformation zone. This region is known for its historical production of over 6.5 million ounces of gold and significant copper deposits from nearby mining camps.
The project remains largely covered by glacial till but is accessible via logging roads and helicopter support, facilitating ongoing exploration activities. Kenorland’s strategic approach focuses on systematic exploration partnerships that not only enhance project viability but also mitigate financial risks associated with early-stage exploration. As Kenorland Minerals embarks on its winter drill program and enters a pivotal phase with Newmont Corporation, the prospects for the Chebistuan Project appear promising.
