The Board has authorized management to consider the various transactional options to accomplish this objective in the most tax efficient and value creating manner. It is anticipated a decision will be made in the coming weeks and a Transaction could be completed as early as Q1 2021.
Assays are pending for additional 14 holes over a 1,780 meters of lateral strike with 7 holes intersecting quartz veining with visible gold. Drilling continues with 2,000 metres planned to expand
A final decision has not been made and there can be no assurance that this evaluation will result in a spin-out or other similar transaction. The Company will provide further updates at such time as the Board approves a specific transaction or otherwise concludes that disclosure is necessary or appropriate.
About KORE's South Cariboo Exploration Assets
KORE controls 1,000 square kilometers of claims in its
The FG Gold project hosts an orogenic gold deposit on a 20 kilometer trend defined by gold in soils and geophysics. KORE's 2020 drilling transformed the project, opening up the potential for both open pit and underground type mineralization. The project also hosts copper-gold porphyry mineralization at the
About KORE's US Development Assets
About
KORE is 100% owner of a portfolio of advanced gold exploration and development assets in
Contact:
Tel: (888) 407-5450
Email: kore@kincommunications.com
Technical information with respect to the
This news release does not constitute an offer to sell or a solicitation of an offer to sell any KORE common shares in
Cautionary Statement Regarding Forward-Looking Information
This news release contains forward-looking statements relating to the future operations of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as 'will', 'may', 'should', 'anticipate', 'expects' and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the future plans and objectives of the Company are forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements with respect to: the potential gold structures at the District deposits, next steps and timing regarding follow-up programs at the District, results of the PEA, including future project opportunities, future operating and capital costs, closure costs, the projected NPV, IRR, timelines, permit timelines, and the ability to obtain the requisite permits, economics and associated returns of the
Such factors include, among others: risks related to exploration and development activities at the Company's projects, and factors relating to whether or not mineralization extraction will be commercially viable; risks related to mining operations and the hazards and risks normally encountered in the exploration, development and production of minerals, such as unusual and unexpected geological formations, rock falls, seismic activity, flooding and other conditions involved in the extraction and removal of materials; uncertainties regarding regulatory matters, including obtaining permits and complying with laws and regulations governing exploration, development, production, taxes, labour standards, occupational health, waste disposal, toxic substances, land use, environmental protection, site safety and other matters, and the potential for existing laws and regulations to be amended or more stringently implemented by the relevant authorities; uncertainties regarding estimating mineral resources, which estimates may require revision (either up or down) based on actual production experience; risks relating to fluctuating metals prices and the ability to operate the Company's projects at a profit in the event of declining metals prices and the need to reassess feasibility of a particular project that estimated resources will be recovered or that they will be recovered at the rates estimated; risks related to title to the Company's properties, including the risk that the Company's title may be challenged or impugned by third parties; the ability of the Company to access necessary resources, including mining equipment and crews, on a timely basis and at reasonable cost; competition within the mining industry for the discovery and acquisition of properties from other mining companies, many of which have greater financial, technical and other resources than the Company, for, among other things, the acquisition of mineral claims, leases and other mineral interests as well as for the recruitment and retention of qualified employees and other personnel; access to suitable infrastructure, such as roads, energy and water supplies in the vicinity of the Company's properties and risks related to the stage of the Company's development, including risks relating to limited financial resources, limited availability of additional financing and potential dilution to existing shareholders; reliance on its management and key personnel; inability to obtain adequate or any insurance; exposure to litigation or similar claims; currently unprofitable operations; risks regarding the ability of the Company and its management to manage growth and potential conflicts of interest.
In addition to the above summary, additional risks and uncertainties are described in the 'Risks' section of the Company's management discussion and analysis for the year ended
Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.
There is no certainty that all or any part of the mineral resource will be converted into mineral reserve. It is uncertain if further exploration will allow improving the classification of the Indicated or Inferred mineral resource. Mineral resources are not mineral reserves and do not have demonstrated economic viability.
The
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