Abitibi East
The Property is located on the western end of the world-class Abitibi greenstone belt, central to the
Mr.
The survey was conducted by SHA Geophysics (SHA) using their
The magnetic survey identified several areas for follow up exploration. The magnetic high seen in the southern central area of the Property, when reconnaissance drilled in 1995, identified ultramafic rocks showing nickel mineralization. The magnetic high at the southwestern most portion of the Property, when reconnaissance drilled in 1964, identified a potential VMS target. The NW-SE trending magnetic high in the northeast corner of the Property comprises of a low-lying terrain and has been mapped as mafic volcanics which may contain ultramafic units.
The goal of the completed MMI survey was to determine if the mobile ion response from the MMI survey would provide any further insight into the magnetic highs on the Property areas identified above. MMI assay results are pending.
Abitibi East Project Highlights
Poly-metallic critical mineral Property with additional base and precious metal potential
(Cu-Zn-Ag, Ni-Pt-Pd and Au)
Centrally located to the Timmins Gold Camp (Au), Alexo-DunDonald (Ni-Cu-Co) operating
No modern exploration - since 1995
Historical sampling and assaying are incomplete or absent - modern multi-element techniques are required for Project geochemistry
Stock Option Grant
The Company further announces it intends to grant 2,300,000 incentive stock options under the Company's stock option plan to certain directors, officers, and consultants of the Company. These options will vest immediately and will be exercisable at a price of
Marketing & Consulting Agreement
The Company is also pleased to announce that it has entered into a marketing and consulting agreement (the 'Agreement') with
About Abitibi East
The Abitibi East Property is underlain by Archean volcanic and sedimentary rocks which are intruded by gabbroic intrusives and (
The Project is located north of
Contact:
Tel: 1.877.844.4661.
Forward-Looking Statements
This press release includes certain 'forward-looking information' and 'forward-looking statements' (collectively 'forward-looking statements') within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating to the future operating or financial performance of the Company, are forward looking statements. Forward-looking statements are frequently, but not always, identified by words such as 'expects', 'anticipates', 'believes', 'intends', 'estimates', 'potential', 'possible', and similar expressions, or statements that events, conditions, or results 'will', 'may', 'could', or 'should' occur or be achieved. Forward-looking statements in this press release relate to, among other things: statements relating to the successful closing of the Offering and anticipated timing thereof and the intended use of proceeds. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, technical, economic, and competitive uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the timing, completion and delivery of the referenced assessments and analysis. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
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