SRG Graphite increases resource estimate at Lola by 54%
Momentum Public Relations
Press Release: June 18 2018
SRG Graphite Inc. has provided an updated mineral resource estimate for its 100-per-cent-owned Lola graphite deposit located in the Republic of Guinea. The 2018 mineral resource estimate represents an increase of 54 per cent of in situ graphitic carbon (Cg) at a 3-per-cent cut-off grade since the publication of the maiden resource. In preparation for the next phase of development of the project, several boreholes were completed to increase measured and indicated resources from inferred resources. As such, measured and indicated resources increased from 224,118 tonnes to 676,900 tonnes of Cg content at a 3-per-cent cut-off grade, an increase of 201 per cent.
The 2018 Mineral Resource Estimate, prepared by Montreal-based Met-Chem, a division of DRA Americas Inc. (“Met-Chem/DRA”), includes a pit-constrained measured and indicated resource of 12.2 million tonnes (“Mt”) grading 5.6% Cg and an inferred resource of 2.1 Mt grading 6.1% Cg, using a cut-off grade of 3.0% Cg. Effective date of the estimate is June 14, 2018.
The 2018 Mineral Resource Estimate replaces the maiden mineral resource estimate which was reported by SRG on December 22, 2017, and subsequently included in a Technical Report completed by Met-Chem/DRA with an effective date of September 30, 2017. A NI 43-101 Technical Report will be filed on SEDAR within 45 days of this news release providing the details of this resource update. Figure 1 provides a map of the current drilling program. Completed boreholes, assay results pending and boreholes to be completed can be viewed on the map.
Resource Summary
The mineral resources are based on 395 boreholes for 12,086 meters (“m”) drilled up to April 4, 2018. Since that time, an additional 162 diamond drill holes have been completed, for approximately 5,686 additional meters for a total of 17,954 meters. Assay results for these additional holes are pending. Drilling onsite is ongoing and an additional 3,000 meters of drilling are scheduled to take place in the second half of 2018.
The updated resource is established for the oxide profile of the deposit, from surface to a depth ranging between 20 and 50 meters, with an average thickness of 32 meters. The mineralization continues at depth within the fresh rock material, but drilling is stopped once fresh rock is reached. The area for the resources covers approximately 33% of the deposit’s 3.2-square-kilometer surface area.
The estimate was prepared using a block model constrained with 3D wireframes of the principal mineralized domains. Values for graphitic carbon were interpolated using Ordinary Kriging (OK) interpolation methodologies on 10 * 10 * 2m blocks. As in the previous resource estimate, a preliminary open pit optimization algorithm was run on the estimated grade block model. Only mineralization contained within the preliminary pit shell has been included in the resource estimate.The base case mineral resource estimate is summarized in the following table at a cut-off grade of 3.0% Cg together with estimate sensitivities at 1.64% Cg and 5.0% Cg.
LOLA GRAPHITE PROJECT MINERAL RESOURCES AT A CUT-OFF GRADE OF 3.0% CG AND SENSITIVITIES AT 1.64%CG AND 5.0% CG CUT-OFF GRADES Base case mineral resources Cut-off grade Classification Tonnes Cg In situ Cg Cg % (Mt) (%) (t) 3% Measured 1.40 5.32 74,700 Indicated 10.79 5.58 602,200 Total ind. and meas. 12.20 5.55 676,900 Inferred 2.06 6.07 125,200 Sensitivities Cut-off grade Classification Tonnes Cg In situ Cg Cg % (Mt) (%) (t) 1.64% Measured 2.13 4.31 91,900 Indicated 17.00 4.39 746,400 Total ind. and meas. 19.14 4.38 838,400 Inferred 2.82 5.07 143,000 Cut-off grade Classification Tonnes Cg In situ Cg Cg % (Mt) (%) (t) 5% Measured 0.60 7.14 42,700 Indicated 5.02 7.46 374,800 Total ind. and meas. 5.62 7.43 417,500 Inferred 1.18 7.54 88,700
About Met-Chem/DRA
Met-Chem, a division of DRA Americas Inc., was originally established in 1969 as a consulting engineering company, headquartered in Montreal, and provides a wide range of technical and engineering services. Met-Chem is well recognized for its capabilities in mining, geology and mineral processing and has a talented team of engineering, technical and project management personnel with experience in North America, Latin America, Europe, West Africa and India. DRA is a multidisciplinary global engineering group that originated in South Africa and delivers mining, mineral processing, energy, water treatment and infrastructure services from concept to commissioning, as well as comprehensive operations and maintenance services for the mineral resources, water, agriculture and energy sectors. DRA has offices in Africa, Australia, Canada, China, India and the United States.
Qualified Person
Dr. Marc-Antoine Audet, P.Geo., Lead Geologist, SRG was responsible for estimating the mineral resources and has reviewed and approved the contents of this press release. Dr. Audet is a non-independent Qualified Person (“QP”) within the meaning of NI 43-101 – Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. Under subsection 5.3(1) paragraph (c), as the mineral resources have changed by less than 100% from the previous filing, an independent QP is not required for the filing of this mineral resource update.
ABOUT SRG
SRG is a Canadian-based company focused on developing the Lola graphite deposit and the Gogota nickel-cobalt deposit, both located in the Republic of Guinea, West Africa. SRG is committed to operating in a socially, environmentally and ethically responsible manner.
We seek Safe Harbor.
- Published in SRG Graphite
SRG Graphite Inc. Announces Underwriters’ Full Exercise of Over-Allotment Option
Momentum Public Relations
Press Release: June 15 2018
SRG Graphite Inc. (TSXV:SRG) (“SRG” or the “Company”) is pleased to announce that the syndicate of underwriters co-led by National Bank Financial Inc. and TD Securities Inc. and including Macquarie Capital Markets Canada Ltd., Beacon Securities Limited and Clarksons Platou Securities AS (collectively, the “Underwriters”) for its May 2018 public offering (the “Offering”) of units of the Company (“Units”) has fully exercised the over-allotment option (the “Over-Allotment Option”) granted under the Offering to purchase 800,100 additional Units at a price of $1.50 per Unit (the “Offering Price”) for additional gross proceeds to the Company of $1,200,150. This results in aggregate gross proceeds of the Offering, including the exercise of the Over-Allotment Option on the date hereof, of $9,201,150. In addition to the previously announced concurrent private placement with Coris Capital S.A., this brings the aggregate gross proceeds of the raise to $11,201,150.
Each Unit issued under the Over-Allotment Option is comprised of one common share of the Company (a “Common Share”) and one Common Share purchase warrant of the Company (a “Warrant”). Each Warrant will entitle the holder thereof to acquire one additional Common Share at an exercise price of $2.30 per Common Share at any time for a period of 12 months from the closing of the Offering as press released on May 18, 2018.
The Company intends to use the proceeds from the Offering and the Over-Allotment Option for advancement of the Company’s Lola graphite project, including, in the near term, to further regional exploration and infill resource drilling and to progress towards a feasibility study; for continued exploration of its Gogota cobalt-nickel-scandium project; and for general working capital purposes.
The Offering was made pursuant to a short form prospectus dated May 11, 2018 (the “Prospectus”), filed in each of the Provinces of Canada and available on SEDAR at www.sedar.com.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
ABOUT SRG
SRG is a Canadian-based company focused on developing the Lola graphite deposit and the Gogota cobalt-nickel-scandium deposit located in the Republic of Guinea, West Africa. SRG is committed to operating in a socially, environmentally and ethically responsible manner.
For additional information, please visit SRG’s website at www.srggraphite.com.
For more information contact: | |
Ugo Landry-Tolszczuk | Benoit La Salle, FCPA FCA |
Tel: +1 (514) 679-4196 | Tel: +1 (514) 951-4411 |
Email: ultolszczuk@srggraphite.com | Email: benoit.lasalle@srggraphite.com |
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This press release contains “forward-looking information” within the meaning of Canadian securities legislation. All information contained herein that is not clearly historical in nature may constitute forward-looking information. Generally, such forward-looking information can be identified by the use of forward-looking terminology such as “reduce”, “suggest”, “opportunity”, “demonstrate”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would” or “might” occur. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: (i) the Company’s use of proceeds of the Offering and the Over-Allotment Option may differ from those indicated; (ii) volatile stock price; (iii) the general global markets and economic conditions; (iv) the possibility of write-downs and impairments; (v) the risk associated with exploration, development and operations of mineral deposits; (vi) the risk associated with establishing title to mineral properties and assets; (vii) fluctuations in commodity prices and other risks and factors described or referred to in the sections entitled “Risk Factors” in the Annual Information Form of the Company and the Prospectus available at www.sedar.com, all of which should be reviewed in conjunction with the information found in this news release.
Forward-looking information is based on assumptions management believes to be reasonable at the time such statements are made, including but not limited to, continued exploration activities and no material adverse change in mineral prices. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Such forward-looking information has been provided for the purpose of assisting investors in understanding the Company’s business, operations and exploration plans and may not be appropriate for other purposes. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information is given as of the date of this press release, and the Company does not undertake to update such forward-looking information except in accordance with applicable securities laws.
- Published in SRG Graphite, Uncategorized
Crystal Lake closes $1.17-million private placement
Momentum Public Relations
Press Release: May 28 2018
Crystal Lake Mining Corp.’s previously announced private placement of May 18, 2018, has been oversubscribed.
Subscriptions received for the second tranche of the non-brokered, hard-dollar private placement at 55 cents per unit totalled $473,000 (860,000 shares to be issued). Final aggregate gross proceeds for this financing with strategic investors came to $1,173,000 (2,132,727 shares in total).
Each unit of the Crystal Lake private placement consisted of one common share of the company and one full share purchase warrant. Each warrant entitles the subscriber to purchase an additional common share at a price of 70 cents for 24 months. All securities will be subject to a statutory hold period of four months from closing.
Proceeds of the financing, which remains subject to regulatory approval, will be used to further advance the company’s Nicobat project in Northwest Ontario and for general working capital purposes. A finder’s fee is payable to qualified recipients as permitted by the TSX Venture Exchange.
About Crystal Lake Mining Corp.
Crystal Lake Mining is a Canadian-based junior exploration company focused on building shareholder value through the discovery of new magmatic nickel sulfide deposits using technical excellence in exploration target development.
- Published in Crystal Lake Mining
Crystal Lake starts drilling at Nicobat
Momentum Public Relations
Press Release: March 21 2018
Diamond drilling has commenced at Crystal Lake Mining Corp.’s 100-per-cent-owned Nicobat project (nickel-cobalt-copper-precious metals) in the Rainy River district of Northwestern Ontario. In addition, the company has expanded its deep penetrating airborne electromagnetic survey from the originally planned 500 line kilometers to 850 line kilometers.
Richard Savage, Crystal Lake Mining CEO, stated: “The historic zone outlined at the Nico1 Property, combined with today’s new technologies and a much better understanding of nickel sulfide deposits, gives us confidence that we’re on track for a new discovery in this under-explored district. We’re continuing to develop our pipeline of exceptional nickel sulfide targets across the 50 sq. km project area, and we look forward to providing regular updates through Phase 1 of this program.”
The first two holes at the Nico1 Property will undercut the historic zone to targeted depths of at least 400 meters and are designed to explore beneath the near-surface disseminated and breccia style magmatic sulfide mineralization. The boreholes will provide an ideal geophysical platform for Lamontagne Geophysics’ borehole electromagnetic survey work to detect nearby conductive targets that may correspond to semi-massive and massive sulfides.
Qualified Person
The technical information in this news release has been reviewed and approved by Dr. Peter C. Lightfoot, P.Geo., and Dr. Elisabeth Ronacher, P.Geo., who are both Qualified Persons responsible for the scientific and technical information in this news release under National Instrument 43-101 standards. Certain technical information in this news release has previously been disclosed by Crystal Lake Mining in its public disclosure record. Readers should refer to Crystal Lake Mining’s full public disclosure record at www.sedar.com.
About Crystal Lake Mining
Crystal Lake Mining is a Canadian-based junior exploration company focused on building shareholder value through the discovery of new magmatic nickel sulfide deposits using technical excellence in exploration target development.
- Published in Crystal Lake Mining
Crystal Lake enters new deal for L1, L5 properties
Momentum Public Relations
News Release: January 30, 2018
Crystal Lake Mining Corp.(CLM:V) has entered into an agreement with Emerald Lake Development Corp. (ELD), which will create a more favourable path to 100-per-cent ownership of the L1 and L5 properties, both in the Chapple township, district of Rainy River. The L1/L5 agreement, which will supersede and replace all prior agreements concerning these properties, will allow the company to acquire a 100-per-cent interest in the properties on the terms fully disclosed in its most recent management’s discussion and analysis at Sept. 30, 2017. This may be viewed by visiting SEDAR.
The company’s new website is currently under construction and is expected to be operational shortly with up-to-date corporate and geological information.
About Crystal Lake Mining Corp.
Crystal Lake Mining is a mineral exploration/development company focused on creating value through the exploration and development of its Ontario and B.C. mineral properties.
- Published in Crystal Lake Mining, Mining
King’s Bay Applies for Exploration Permit for Phase 2 Exploration on the Lynx Lake Project in Labrador
King’s Bay Applies for Exploration Permit for Phase 2 Exploration on the Lynx Lake Project in Labrador
Momentum Public Relations
Press Release: July 6, 2017
Vancouver BC. (FSCwire) – King’s Bay Gold Corporation (TSX.V: KBG) (FSE: KGB1), operating as “King’s Bay”, a mineral exploration company based in Vancouver submits application to Newfoundland and Labrador Government, Department of Natural Resources for the commencement of phase 2 of the exploration program in south eastern Labrador.
Phase 2 of the Lynx Lake exploration program will involve ground truthing for the recently flown VTEM survey, which highlighted an area of low resistivity in the western pit of mineralization. The size of the anomaly is anticipated to be ranging in depth from 50-300meters and estimated to be approximately 400 meters in diameter. The “west pit” has been historically sampled yielding assays of up to 1.03{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Copper, 0.56{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cobalt, 0.23{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Vanadium, 0.10{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Nickel and 5.0g/t Silver.
The exploration program will consist of a localized ground electromagnetic survey over the anomaly at 20-meter line spacing. It will also include reconnaissance for bedrock exposure in the underexplored anomalous area that runs south of the west pit.
About Lynx Lake
The Lynx lake Project has returned historical grab samples assaying up to 1.39{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu, 0.94{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Co, 0.21{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Ni and 6.5g/t Ag. Government regional low resolution residual magnetic surveys and preliminary handheld electromagnetic unit surveys done by local prospectors have shown strong conductors beneath the overburden, and provide incentive to explore the area further for additional subsurface mineralization. The Project is located directly adjacent to a 3 phase powerline and the Trans-Labrador Highway.
About King’s Bay
King’s Bay is focused on the exploration of cobalt and other high‐tech metals in North America. The company believes in this emerging fast‐growth sector and will continue to seek out and evaluate properties that show promise for development. King’s Bay Gold Corp is operating as King’s Bay.
On Behalf of the Board,
Kevin Bottomley
CEO, President
Forward-Looking Statements
This news release contains forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these statements from coming to fruition include that the Company may not raise sufficient funds to carry out our plans, changing costs for mining and processing; increased capital costs; the timing and content of upcoming work programs; geological interpretations based on current data that may change with more detailed information; potential process methods and mineral recoveries assumption based on limited test work and by comparison to what are considered analogous deposits that with further test work may not be comparable; the availability of labour, equipment and markets for the products produced; and despite the current expected viability of the project, that the minerals on our property cannot be economically mined, or that the required permits to build and operate the envisaged mine cannot be obtained. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/King’sBay07062017.pdf
Source: King’s Bay Gold Corporation (TSX Venture:KBG)
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Copyright © 2017 Filing Services Canada Inc.
- Published in King's Bay, Mining, News Home
King’s Bay Provides Update on VTEM Plus Survey over Lynx Lake Copper-Cobalt Project, Southern Labrador
King’s Bay Provides Update on VTEM Plus Survey over Lynx Lake Copper-Cobalt Project, Southern Labrador
– Momentum Public Relations –
Press Release: March 31, 2017
Vancouver, British Columbia (FSCwire) – King’s Bay Gold Corporation (TSX.V: KBG), (FSE: KGB1), operating as “King’s Bay”, a mining exploration and development company based in Vancouver Canada is pleased to announce that Geotech Ltd., of Aurora, Ontario has completed 243 kilometers or (63.9{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}) of the 382 line kilometer helicopter-borne Versatile Time Domain Electromagnetic Geophysical Survey over King’s Bay’s 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} owned Lynx Lake Copper-Cobalt Project in southeastern Labrador.
Geotech Ltd. has advised King’s Bay that it expects to complete this survey by mid-April. The helicopter-borne Versatile Time Domain Electromagnetic System (VTEM) has a penetration depth of over 800 m, with a low Base Frequency (30Hz) for penetration through conductive overburden cover, coupled with a 2-3 meters High Spatial Resolution. This system is advertised to be able to delineate potential drill hole targets from the airborne results. In addition, it also has excellent resistivity discrimination to enable the detection of weak anomalies.
Lynx Lake Project
The Lynx Lake Copper-Cobalt Property consists of 959 mineral claims encompassing a land area of approximately 240 square kilometers, located 100 kilometers southeast of Happy Valley Goose Bay, Newfoundland and Labrador. Historic grab sampling on the property has returned samples assaying up to 1.39{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu, 0.94{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Co, 0.21{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Ni and 6.5g/t Ag. Government regional low resolution residual magnetic surveys and preliminary handheld electromagnetic surveys done by local prospectors have shown strong conductors beneath the overburden, and provide incentive to explore the area further for additional subsurface mineralization. The Project is located directly adjacent to a 3 phase powerline and the Trans-Labrador Highway.
About King’s Bay
King’s Bay is focused on the exploration of cobalt and other high‐tech metals in North America. The Company believes in this emerging fast‐growth sector and will continue to seek out and evaluate properties that show promise for development. King’s Bay Gold Corp is operating as “King’s Bay.”
On Behalf of the Board
Kevin Bottomley CEO, President
For Investment Inquiries please contact:
Brad Hoeppner Director
O: 604 681 1568
Forward Looking Statements
Statements in this news release that are not historical are forward looking statements. Forward looking statements in this news release include: that we will be able to identify targets suitable for further geological investigation, that VTEM surveys will be completed by mid-April, 2017 and that we will be able to delineate weak target areas. Factors which may delay or prevent these forward looking statements from being realized include misinterpretation of data, limitations of VTEM to discern targets with high accuracy, we may not be able to get equipment or labor as we need it; we may not be able to raise sufficient funds to complete our intended exploration or carry on operations; that weather, logistical problems or hazards may delay our work or prevent us from exploration; that equipment may not work as well as expected; that analysis of data may not be possible accurately and at depth; and that despite encouraging data there may be no commercially exploitable mineralization on our properties. Except as required by law, the Company assumes no obligation to update forward looking information should circumstances or management’s estimates or opinions change.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/kingsbay03312017.pdf
Source: King’s Bay Gold Corporation (TSX Venture:KBG)
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- Published in King's Bay, Mining, News Home
Equitas Signs Definitive Agreement with Gold Producer
Equitas Resources Corp. Completes Due Diligence and Signs Definitive Agreement to Acquire Alta Floresta Gold Ltd.
– Momentum Public Relations – March 7, 2016
Equitas Resources Corp. (TSXv: EQT) (FSE: T6UN) (USA: EQTRF) (“Equitas” or the “Company”) is pleased to announce it has signed a definitive agreement to acquire a 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} interest in Alta Floresta Gold Ltd. (“Alta Floresta Gold”). Upon regulatory approval of the acquisition, Equitas plans to construct a gravity plant to expand the current production activities at the Cajueiro gold zones.
Alta Floresta Gold Ltd. is a private company which holds a 60{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} equity interest in Alta Floresta Mineracao Ltd. (“Alta Floresta Mineracao”). Alta Floresta Mineracao holds six gold properties, and four production licences, over 184,410 hectares of land in the Mato Grosso and Para states of Brazil. Alta Floresta Mineracao is focused on production activities and defining additional gold resources at the Cajueiro Project.
About Equitas Resources Corp.
Equitas Resources is a Canadian-based mineral exploration company with a focus on nickel, copper, platinum group metals (PGM) and cobalt. The Company’s Garland Property is 23,386 hectares and located in the Voisey’s Bay district of Labrador, Canada. Upon approval of the definitive agreement Equitas will become a Canadian-based mineral production, development and exploration company.
For more information on Equitas Resources please visit our website at: www.equitasresources.com.
- Published in Equitas Resources, Mining, News Home
Equitas Resources Completes Four Holes at Garland
Equitas Resources Corp. Updates Exploration Program on its Garland Nickel-Copper Property
Equitas Resources Corp. (TSXv: EQT) (FSE: T6UN) (“Equitas” or the “Company”) is pleased to provide an update on its exploration program at the Garland nickel-copper property in Labrador, Canada.
To date, four NQ diamond drill holes, totaling 1515m have been completed. The objective of the drill program is to evaluate the remaining ten areas of conductivity prospective for nickel-copper sulphides identified through the VTEM Plus airborne survey. Of these anomalies, drilling has tested anomalies D, C, J and Q. A total of 173 samples have been sent to Activation Laboratories in Ancaster, ON for analysis, and samples are being selected for petrographic study.
Field evaluation of the twelve VTEM anomaly areas continues with Crone large loop PEM surveys. A total of 30 line km of Crone large loop Pulse Electromagnetic Survey (PEM) has been read on anomalies A, B, C, Q, G, J and I. Results of Crone borehole PEM surveys are being interpreted. Field operations to explore the remaining anomalies will continue until conditions deteriorate into winter.
In addition, the Company is conducting petrographic analysis on several samples from anomalies D and J. While weather conditions have created general delays in the program, field operations are continuing on site. A full geophysics and drilling update will be provided upon receipt and interpretation of results.
“We are satisfied with the progress of work completed to date, and await full results from the current program. Despite a very tough financing climate, Equitas is well-funded to execute on our plans to evaluate all anomalies identified on the Garland property.” said Everett Makela, Equitas’ VP Exploration.
NI 43-101 Disclosure
Everett Makela, P. Geo., VP Exploration for Equitas Resources Corp., a Qualified Person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.
About Equitas Resources Corp.
Equitas Resources is a Canadian-based mineral exploration company with a focus on nickel, copper, platinum group metals (PGM) and cobalt. The Companies Garland Property is 23,386 hectares and located in the Voisey’s Bay district of Labrador, Canada.