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Kenorland and Auranova Announce Large Intrusion-Related Gold Discovery at South Uchi, Ontario

Kenorland’s South Uchi step-out validates district-scale potential despite dilution and going concern risks.

By The Northwire Desk — AI Analysis Jun 17, 2026 · 07:31 KLD · 2.1 Kenorland Minerals Ltd.

Executive Summary

Kenorland Minerals and Auranova Resources released complete assay results from the Phase 3 spring 2026 diamond drill program at the South Uchi Project in Ontario's Red Lake District.
The program successfully extended the Papaonga gold target eastward, identifying a new intrusion-related gold system dubbed "North Papa".
Key drill hole 26PADD046 intersected >122.80 m grading >0.28 g/t Au across 220.15 m downhole core length.
High-grade intervals included 7.07 g/t Au over 1.00 m and 9.09 g/t Au over 1.45 m in a 500 m step-out hole (26PADD043).
Strike extension reached 1 km, expanding the Papaonga target footprint to approximately 7 km east-west.
Follow-up geophysical surveys (IP and magnetic) are planned for Q3 2026 to guide further step-out drilling beneath glacial cover.
Auranova holds a 51% interest, with Kenorland retaining a 30% carried interest and a 2% NSR royalty.

Material Impact

The results are positive but expected, representing a routine follow-up to the Phase 2 fall 2025 program that identified the structural corridor.
The broad, lower-grade intercept (>0.28 g/t Au over 220 m) demonstrates continuity and scale but lacks the high-grade core required for immediate economic viability. The high-grade intervals are short (1-1.45 m).
The discovery reinforces the district-scale potential of South Uchi, validating the geological model and justifying the planned Q3 2026 geophysics and drilling.
No immediate change to the company's financial position or capital needs; exploration remains partner-funded (Auranova).
The news aligns with management's stated exploration roadmap and does not introduce new strategic risks or opportunities.

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Company Overview

Kenorland Minerals is a project generator and royalty company focused on grassroots gold discoveries across North America.
Flagship Asset: Frotet Project (Quebec) - 4% NSR royalty on a 2.55 Moz Inferred gold resource at 5.47 g/t Au (Regnault deposit). Operator: Sumitomo Metal Mining.
South Uchi Project (Ontario) - 51% owned by Auranova, Kenorland holds 30% carried interest and 2% NSR. Recent drilling has identified a 7 km east-west structural corridor with intrusion-related gold potential.
Western Wabigoon & Flora Projects (Ontario) - Optioned to Centerra Gold, which can earn up to 70% interest. Kenorland retains carried interest and 2% NSR.
Land Position: Over 1.5 million hectares staked across Canada, with extensive geochemical screening programs underway.

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