Property Details:
- Bald Eagle Property is located 30 km to the northeast of
Ucluelet and approximately 57km by road west ofPort Alberni in the west coast of Vancouver Islands, on NTS map 092F013. ThePort Alberni -Tofino paved highway runs 800m east of the property. It has an ideal location for shipping potential mineral concentrates by ocean freight to any destination in the world. - Geologically, the area is underlain by Karmutsen Formation volcanics of the
Upper Triassic Vancouver Group , which have been intruded by the Early toMiddle Jurassic Island intrusions consisting of granodiorite to quartz diorite. The quartz veins are a few centimetres to two meters in width with patches of pyrite, pyrrhotite and chalcopyrite. Tertiary silver- and gold-bearing quartz-sulphide veins are found primarily along faults within the area. - There are four mineral occurrences on the Property as documented in MTO database of
BC Ministry of Mines records as Minfiles. - Kristen Occurrence: (1987-89) Golden Spinnaker Minerals optioned the property and completed programs of trenching, VLF-EM surveys and diamond drilling. In 1988 bulk sampling and fourteen diamond drillholes, totalling 819 metres, was completed on the Elite 1 vein and nearby Rachel vein. In 1991,
Kancana Ventures optioned the property. From 1993 to 1995, the property was returned to and later prospected byK. Gourley . In 1993, chip sampling of the Kristen I vein assayed values up to 4.4 grams per tonne gold and 126.5 grams per tonne silver. In 1995, sampling of the vein assayed up to 9.8 grams per tonne gold and 31.5 grams per tonne silver (Assessment Report 25493). At Elite 1 Vein area disseminated pyrite occurs in bleached and silicified rock with irregular quartz lenses and pods; rock samples from here assay up to 0.508 oz/ton gold across 110 cm (Assessment Report 18218). - Bald Eagle Occurrence: Area was part of the same work program in 1987-89 by Golden Spinnaker Minerals. Mineralization is in 0.05 to 0.60 metre-wide quartz and/or calcite veins occurring in a quartz diorite rock and containing lenses of pyrite and pyrrhotite. In 1995 a 0.10 metre chip sample from this occurrence assayed 8.3 grams per tonne gold and 35.2 grams per tonne silver.
- Frog Creek Occurrence: Area was part of the above-mentioned work program in 1987-89. In 1995, a 0.20 metre chip sample returned values of 2.6 grams per tonne gold and 2.7 grams per tonne silver (JK-167; Assessment Report 25493).
- The Falcon occurrence: is located on the northern slopes of
Hidden Peak at approximately 950 metres. Locally, a mineralized zone, striking 300 degrees and dipping 40 degrees southwest within altered volcanics, contains disseminated pyrite, chalcopyrite and minor galena and native copper. In 1984,Torhsen Energy Corp. completed a program of rock sampling and geological mapping on the area as the Falcon claim. A 30 centimetre channel sample of the zone assayed 0.37 per cent copper, 0.156 per cent zinc and 3.1 grams per tonne silver (Assessment Report 12769).
Cautionary Statement: Investors are cautioned that the above information has been taken from publicly available sources mainly based on the BC Government's database at following websites: https://www.mtonline.gov.bc.ca/mtov/home.do. The Company has not verified the information and the information is not necessarily indicative of the mineralization on the property. The Company is in the process of developing an exploration work plan on the Property by compiling geological and historical exploration work. The work plan will initially be focused on confirming historical sampling carried out on the Property.
This above noted agreement is with a non-related party and there are no directors, officers or senior management in common. Closing of the Transaction is subject to obtaining all required approvals, including the CSE and including any other regulatory approval.
Technical data pertaining to this new release was reviewed and approved by
About
ON BEHALF OF THE BOARD OF
"Gurminder Sangha"
President & Chief Executive Officer
Neither the Canadian Securities Exchange (CSE) nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release and has neither approved nor disapproved the contents of this news release.
Forward-looking Information
Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes information about the Company's proposed Transaction with
Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, the Company's proposed Transaction with
The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company's ability to obtain required approvals and close the proposed Transaction with
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