Kenorland Grants 2% NSR Royalty on South Uchi Project to Newly Formed Subsidiary
Kenorland Minerals (TSXV: KLD, OTCQX: KLDCF) has announced that its wholly owned subsidiary, Kenorland Minerals North America , has granted a 2% net smelter return royalty on its 100% owned South Uchi Project to another wholly owned subsidiary, 1431275 B.C. The South Uchi Project is located in the Red Lake District, northwestern Ontario. This move is part of Kenorland's strategy to create a separate division for its royalty interests, aiming to enhance shareholder value and pursue new strategic opportunities. The company recently reported positive results from its 2024 summer exploration program on the project. Kenorland currently holds a portfolio of royalty interests in North America, including a 4% net smelter return royalty on the Frotet Project in Quebec.
Kenorland Minerals (TSXV: KLD, OTCQX: KLDCF) ha annunciato che la sua controllata interamente posseduta, Kenorland Minerals North America, ha concesso un royalty del 2% sul reddito da fusione netto sul suo progetto South Uchi, di cui detiene il 100%. Il progetto South Uchi si trova nel distretto di Red Lake, nell'Ontario nordoccidentale. Questa mossa fa parte della strategia di Kenorland per creare una divisione separata per i suoi interessi in royalties, con l'obiettivo di valorizzare gli azionisti e perseguire nuove opportunità strategiche. L'azienda ha recentemente riportato risultati positivi dal suo programma di esplorazione estiva 2024 sul progetto. Kenorland detiene attualmente un portafoglio di interessi in royalties in Nord America, inclusa una royalty del 4% sul reddito da fusione netto sul progetto Frotet in Quebec.
Kenorland Minerals (TSXV: KLD, OTCQX: KLDCF) ha anunciado que su filial de propiedad total, Kenorland Minerals North America, ha concedido una regalía del 2% sobre el retorno neto de fundición en su Proyecto South Uchi, del cual posee el 100%. El Proyecto South Uchi está ubicado en el Distrito de Red Lake, en el noroeste de Ontario. Este movimiento es parte de la estrategia de Kenorland de crear una división separada para sus intereses en regalías, con el objetivo de aumentar el valor para los accionistas y buscar nuevas oportunidades estratégicas. La compañía recientemente reportó resultados positivos de su programa de exploración de verano de 2024 en el proyecto. Kenorland actualmente posee una cartera de intereses en regalías en América del Norte, incluyendo una regalía del 4% sobre el retorno neto de fundición en el Proyecto Frotet en Quebec.
케노를랜드 미네랄스 (TSXV: KLD, OTCQX: KLDCF)는 완전 소유 자회사인 케노를랜드 미네랄스 북미가 South Uchi 프로젝트에 대해 2% 순 제련 수익 로열티를 자회사인 1431275 B.C.에 부여했다고 발표했습니다. South Uchi 프로젝트는 온타리오 주 북서부의 레드 레이크 지구에 위치하고 있습니다. 이 조치는 케노를랜드가 로열티 이익을 위한 별도의 부서를 만드는 전략의 일환으로, 주주 가치를 향상시키고 새로운 전략적 기회를 추구하는 것을 목표로 하고 있습니다. 회사는 최근 프로젝트에 대한 2024년 여름 탐사 프로그램의 긍정적인 결과를 보고했습니다. 케노를랜드는 현재 북미에서 로열티 이익 포트폴리오를 보유하고 있으며, 여기에 퀘벡의 Frotet 프로젝트에 대한 4% 순 제련 수익 로열티도 포함되어 있습니다.
Kenorland Minerals (TSXV: KLD, OTCQX: KLDCF) a annoncé que sa filiale entièrement détenue, Kenorland Minerals North America, a accordé une redevance de 2 % sur le revenu net de fonderie sur son projet South Uchi, dont elle détient 100 %. Le projet South Uchi est situé dans le domaine de Red Lake, dans le nord-ouest de l'Ontario. Ce mouvement fait partie de la stratégie de Kenorland visant à créer une division distincte pour ses intérêts en redevances, dans le but d'augmenter la valeur pour les actionnaires et de rechercher de nouvelles opportunités stratégiques. L'entreprise a récemment rapporté des résultats positifs de son programme d'exploration estivale 2024 sur le projet. Kenorland détient actuellement un portefeuille d'intérêts en redevances en Amérique du Nord, y compris une redevance de 4 % sur le revenu net de fonderie sur le projet Frotet au Québec.
Kenorland Minerals (TSXV: KLD, OTCQX: KLDCF) hat bekanntgegeben, dass ihre 100%ige Tochtergesellschaft, Kenorland Minerals North America, eine 2%ige Netto-Schmelz-Rückflussroyalty auf ihr 100%iges South Uchi Projekt an eine andere 100%ige Tochtergesellschaft, 1431275 B.C., vergeben hat. Das South Uchi Projekt befindet sich im Red Lake District, Nordwest-Ontario. Dieser Schritt ist Teil der Strategie von Kenorland, eine separate Abteilung für ihre Royalty-Interessen zu schaffen, um den Wert für die Aktionäre zu steigern und neue strategische Möglichkeiten zu verfolgen. Das Unternehmen berichtete kürzlich über positive Ergebnisse aus seinem Sommerexplorationsprogramm 2024 für das Projekt. Kenorland hält derzeit ein Portfolio von Royalty-Interessen in Nordamerika, einschließlich einer 4%igen Netto-Schmelz-Rückflussroyalty auf dem Frotet Projekt in Quebec.
- Creation of a separate royalty division to potentially increase shareholder value
- Positive results reported from 2024 summer exploration program on South Uchi Project
- Existing portfolio of royalty interests in North America, including 4% NSR on Frotet Project
- None.
Vancouver, British Columbia--(Newsfile Corp. - September 16, 2024) - Kenorland Minerals Ltd. (TSXV: KLD) (OTCQX: KLDCF) (FSE: 3WQ0) ("Kenorland" or the "Company") is pleased to announce that the Company's wholly owned subsidiary Kenorland Minerals North America Ltd., has granted to its wholly owned subsidiary, 1431275 B.C. Ltd., a
The grant of the South Uchi Royalty is the first step in the eventual creation of a separate division within the Company isolating its royalty interests. The Company expects this will create additional shareholder value and will allow the Company to pursue new strategic opportunities including allowing the Company to separately market its royalty assets.
The Company currently holds a portfolio of royalty interests on projects located in North America, including a
Figure 1. South Uchi Project location
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About the South Uchi Project
The South Uchi Project was first identified and staked by Kenorland based on the region's prospectivity to host significant gold mineralised systems. The Project covers a portion of Confederation Assemblage volcanic rocks, as well as the boundary between the volcanic-dominated Uchi geological subprovince to the north and the sedimentary-dominated English River geological subprovince to the south. Multiple major east-west striking shear zones associated with the Uchi and English River subprovince boundary transect the Project. Deformation associated with these structures has resulted in zones of strong shearing, alteration, and folding of the metavolcanic-clastic and metasedimentary-iron formation stratigraphy, which are favorable settings for orogenic gold mineralisation. The majority of gold deposits in the Red Lake District (Red Lake, Madsen, Hasaga, and others) are located on the northern margin of the Confederation Assemblage, however, recent discoveries such as the LP Fault Zone on the Dixie Project by Great Bear Resources Ltd. (acquired by Kinross Gold and renamed Great Bear Project) highlight the prospectivity of the entire Confederation Assemblage along the southern margin of the Uchi subprovince.
The Papaonga target area within the Project, covering approximately 40 km², presents a large, coherent gold-in-till and HMC gold grain anomaly, with widespread gold mineralization found in bedrock along northeast-trending shear zones. The gold is hosted in various rock types, including intrusive, sedimentary, and volcanic formations, and is accompanied by a strong multi-element signature (Au-Ag-Te-W±As-Sb-Mo) indicative of gold anomalism. These results suggest the presence of a significant and previously unrecognized gold system. A maiden diamond drill program is currently being designed and planned.
About Kenorland Minerals Ltd.
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
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.
This news release also contains information about adjacent properties on which the Company does not have an interest and the presence of resources on adjacent properties is not necessarily indicative of the mineralisation on the South Uchi Project.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/223434
FAQ
What is the percentage of the net smelter return royalty granted on the South Uchi Project?
Where is the South Uchi Project located?
What is Kenorland's strategy behind granting this royalty?
What other royalty interests does Kenorland Minerals (KLDCF) hold?
