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The Mt Anderson Property consists of 163 contiguous quartz claims covering 30 km2approximately 60 km south of
Several historical prospects be identified on the Property.
The Adanac Zone is a continuous galena vein ranging from 0.1 to 0.4m in width, within stronglylimoniticandmoderatelyazurite-bearinggranodioritichostrock.Sampleresults from a 15m by 0.9-metre pit averaged 62.2 g/t Au and 171.1 g/t AgThe EPI Zone is a northeast-trending quartz-agate-fluoride epithermal vein roughly 1.0 metre in width within a 50-metre-long limonite and manganese-bearing shear zone.The Ridge Zone is broad area of quartz-galena veining, returned up to 6.273 opt gold and 15.21 opt silver. Mineralized float was found in all trenches and anomalous values were returned from the soil sampling program.TheRobSkarnmineralizationconsistsofsulphide-richgarnetactinolite-calc-silicate skarn with up to 5% pyrite and pyrrhotite and trace chalcopyrite.
The e Fleming Zn-Pb-Cu-Ag-(Au) skarn mineralization occurs as lenticular zones comprisedofpyrrhotite-chalcopyrite-pyritegalenaassociatedwithmassivemagnetite and specular hematite-in a gangue of quartz, calcite, epidote,
47TargetZonewiththreemineralizedquartzveinsinshearzone30longand 5 metres wide
Terms of the Acquisition
Pursuant to the Agreement, the Company acquired the Mount Anderson Property through a 100% acquisition, the Company will issue an aggregate of 1,000,000 common shares in the capital of the Company (each, a “Common Share”) to the Vendors and grant a 1% NSR royalty in respect of commercial production from the Property.
The Company also announces that it has engaged
Derrick Strickland, P. Geo (1000315), a shareholder, and a "Qualified Person" for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.
Additional Information
Additional information about the Company and the Transaction is available on SEDAR at www.sedar.com under the Company's profile. The summary of the Transaction set out above is qualified in its entirety by reference to the description of the Transaction in the Company's filing statement posted on SEDAR.
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Contact Information:
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Certain of the statements made and information contained herein may constitute "forward-looking information." In particular references to the private placement and future work programs or expectations on the quality or results of
such work programs are subject to risks associated with operations on the property, exploration activity generally, equipment limitations and availability, as well as other risks that we may not be currently aware of. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.
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Copyright (c) 2023 TheNewswire - All rights reserved., source