- Kenorland Minerals (OTCQX: KLDCF) and Auranova Resources confirm a new gold system at the South Uchi Project in Ontario.
- Auranova completes its initial earn-in, acquiring a 51% ownership stake in the project.
- 93% of the drill holes show gold intervals of at least 0.1 g/t Au, with the highest intercept at 14.60 g/t Au over 1.00m.
Kenorland Minerals Ltd. (OTCQX: KLDCF) and Auranova Resources Inc. have announced significant findings from their 2025 winter drill program at the South Uchi Project, located in Ontario's Red Lake District. The maiden drill program, comprising 27 diamond drill holes with a total length of 14,365 meters, has confirmed the presence of a new gold system with notable mineralization identified over a five-kilometer structural corridor.
A key highlight from the results includes that 93% of the drill holes intersected gold intervals with at least 0.1 g/t Au, and the highest grade intercept was an impressive 14.60 g/t Au over 1.00m. The results indicate that the mineralized corridor remains open in all directions, with plans for a follow-up drill program slated for late summer 2025.
Auranova has also completed its initial earn-in as per the South Uchi option agreement, acquiring a 51% ownership interest in the project. This milestone resulted in Kenorland receiving $500,000 in cash and 9,242,267 common shares of Auranova as part of the transaction.
The next steps for the project involve a Phase 2 drill program, planned for late summer 2025, which will further explore the newly discovered gold-bearing structural corridor. This involves tighter step-outs around significant drill holes and broader step-outs to test untested areas. The aim is to continue unlocking the potential of this emerging gold system.
