Kenorland Minerals Ltd. (TSXV: KLD) and partner Auranova Resources Inc. (TSXV: AURA) have commenced a phase 4 diamond drill program at the South Uchi Project in Ontario's Red Lake District. The approximately 5,000-metre program targets the North Papa trend within the Papaonga target area, following up on broad gold mineralisation confirmed during phase 3 drilling. Investors may be watching closely given the significant intercepts already reported from prior campaigns and Auranova's recently confirmed 51% earn-in on the project.

Key Points

  • Kenorland Minerals Ltd. (TSXV: KLD | OTCQX: KLDCF | FSE: 3WQ0) and Auranova Resources Inc. (TSXV: AURA)
  • Phase 4 diamond drill program has commenced at South Uchi Project, Red Lake District, Ontario
  • Program comprises approximately 5,000 metres targeting the North Papa trend; drilling expected to complete by mid-November 2026
  • Investors may watch for assay results from follow-up holes testing strike extensions and depth step-outs from hole 26PADD046

Phase 4 Drill Targets and North Papa Trend Gold Intercepts

The phase 4 program focuses on follow-up drilling of hole 26PADD046, which returned multiple broad gold-mineralised intervals, including 65.45 metres at 0.34 g/t Au (including 21.00 metres at 0.58 g/t Au) and 35.65 metres at 0.31 g/t Au. Planned holes are designed as modest step-outs along strike and at depth to better define the approximately 200-metre-wide mineralised corridor and potentially identify higher-grade portions of the system. Drilling will also test chargeability and resistivity anomalies identified by this summer's induced polarisation survey.

Volcanic Contact Mineralisation Adds Further Priority Targets

The release highlights that phase 4 drilling will also test gold mineralisation associated with the tholeiitic to calc-alkaline volcanic contact. Previous results at this contact included 7.70 metres at 1.13 g/t Au (including 1.00 metre at 7.07 g/t Au) from hole 26PADD046, and 3.75 metres at 3.65 g/t Au (including 1.45 metres at 9.09 g/t Au) from hole 26PADD043, located 500 metres to the east. The mineralisation is associated with silica-sericite alteration, quartz-carbonate veining, and pyrite-pyrrhotite sulphides hosted in mafic volcanic rocks.

Auranova's 51% Earn-In Confirmed and Joint Venture Structure Outlined

Kenorland confirms that Auranova has earned a 51% ownership interest in the South Uchi Project, having satisfied conditions including $500,000 in cash payments to Kenorland. Auranova may earn an additional 19% interest — for a total of 70% — by incurring a further $10,000,000 in qualifying expenditures within the prescribed option period. Kenorland retains a 30% carried interest through to the completion of a Preliminary Economic Assessment, at which point a joint venture will be formed, and also holds a 2% net smelter return royalty on the project.