Kenorland starts resource with 26-gram gold hit in Quebec

[Ben Graham]

Kenorland Minerals (TSXV: KLD) has reported more high-grade assays from the Frotet project in northern Quebec with an initial resource on its Regnault gold system due in the months ahead.

The latest assays include 12.15 metres grading 26.33 grams gold per tonne from 500.15 metres down hole 25RDD261 on the R6 vein, with intervals of 1.8 metres at 99.64 grams gold and 1.2 metres at 93.48 grams gold, Kenorland reported on Monday.

Infill drilling along the same R6 structure in hole 25RDD257 cut 14.4 metres averaging 3.45 grams gold from 526.7 metres down, including 4.6 metres at 7.51 grams. Hole 25RDD257 targeting the R1 vein returned 7.8 metres grading 13.98 grams gold from 283 metres depth, with an interval of 1.15 metres at 81.01 grams.

“Step-out and infill drilling during the 2025 winter program has continued to confirm the scale, continuity, and high-grade nature of the Regnault system,” the company said in a release. “Step-out holes returned some of the most significant mineralisation intersected to date, remaining open and highlighting strong potential for growth at depth.”

The assays, following similar results a year ago, come as Japan’s Sumitomo Metal Mining assumes operatorship at Frotet and hires a consultant to work on an initial resource for Regnault expected in late 2025 or early 2026. Kenorland, backed by a 9.9% investment from Centerra Gold (TSX: CG; NYSE: CGAU,) retains a 4% net smelter return royalty.

Kenorland options three gold projects in Ontario to Centerra

Monday’s assays were the last 13 of 34 drill holes completed in the nearly 23,000-metre winter program at the site about 800 km north of Montreal in the Chibougamau region.

Uptick

Shares in Kenorland gained 1% to C$2.02 apiece in Toronto on Monday morning, valuing the company at C$158.4 million. They’ve traded in a range of C$0.96 to C$2.32 over the past year.

Infill drill hole 25RDD260 along vein R2Ereturned 9 metres at 2.58 grams gold including 0.7 metre at 17.9 grams. Several narrower intervals included 4.5 metres at 18.06 grams gold from 405.8 metres in hole 25RDD259 on the R5 structure; 4.8 metres at 9.85 grams gold from at 396 metres in hole 25RDD264 on the R6 system; and 1.7 metres at 31.59 grams gold starting at 85 metres in hole 25RDD258 of the R9 vein.

The company is also advancing a portfolio of early-stage gold projects in Ontario. In June, Kenorland signed an option agreement with Centerra to explore the Flora, Western Wabigoon and Algoman properties.

Centerra can earn up to a 70% interest by funding exploration and advancing the projects to a preliminary economic assessment, while Kenorland would retain a 30% interest carried through to prefeasibility.