Currie Rose Announces Option Deal On Historic Rossland Gold Project, British Columbia
2018年4月14日 - 1:14AM
Currie Rose Resources Inc. (TSXV:CUI) ("Currie Rose" or the
"Company") is pleased to announce that the Company has secured two
Option Agreements over the Rossland Project (the “Project”) which
together, cover approximately 2,000 Ha of the Rossland Mining Camp
that produced more than 2.7 million ounces of gold, 3.5 million
ounces of silver and 71 tonnes of copper between 1894 and 1941 and
ranks as the third largest lode gold camp in British Columbia.
The Company is working through the extensive
historical data and work to date has identified over 8 priority
targets for immediate exploration evaluation noting that historical
mining activities in the area ceased for reasons other than an
absence of mineralization.
Under the terms of the Agreements, which are
subject to TSX Venture Exchange approval, Currie Rose has the right
to acquire 100% of the Rossland Project from two private companies
(0704723 BC Ltd and 0811662 BC Ltd) via a 3-stage option:
Stage 1 – 12 months
- Upfront payment of $50,000 and issue of 1m Currie Rose shares
for each company;
- Minimum expenditure of $500,000 for each company;
- Investment by Currie beyond the first year, will be contingent
on positive results.
Stage 2 – 12-24 months
- Payment of $75,000 and issue 1.5m Currie Rose shares for each
company;
- Minimum expenditure of $750,000 for each company.
Stage 3 - 24-48 months
- Funding and completing a Feasibility Study - one study to
apply to both companies;
- Payment of $100,000 and issue 2m Currie Rose shares on the 3rd
anniversary (per company);
- Payment of $100,000 and issue 2m Currie Rose shares on the 4th
anniversary (per company).
On completion of the Feasibility study or the
payment obligations, the Company will own 100% of the Project and
will grant separately, to each company, a 2% Net Smelter Return
(NSR) with Currie Rose having an option to purchase from each
company one-half (1%) of the NSR for payment of $1m.
Michael Griffiths, Currie’s President
and CEO, commented; “The Rossland Project covers a large
proportion of the Rossland Mining Camp which surrounds the former
Le Roi, War Eagle and Centre Star Gold mines. This is an advanced
brownfields play with little modern exploration having been
undertaken due to previous fragmented ownership. The Company
recognises the potential both along strike from the former
producing mines as well as other underexplored vein gold
targets.
“In addition, historical records identify
significant molybdenite, zinc and cobalt mineralisation within the
Camp and we plan to investigate these metals as part of our
exploration activity and overall district scale focus. This is a
very exciting development for the Company and our
shareholders.”
About Currie Rose Resources Inc.
Currie Rose is a precious metal explorer focused
on identifying high value assets in Canada. Our current projects
span British Columbia and Ontario with our immediate focus on the
recently acquired Rossland Project in BC.
Technically strong and corporately nimble, we
seek to add value through targeted exploration.
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.
This news release may contain forward-looking statements that
are based on the Company’s expectations, estimates and projections
regarding its business and the economic environment in which it
operates. Statements about the closing of the transaction, expected
terms of the transaction, the number of securities of Currie Rose
that may be issued in connection with the transaction, and the
parties' ability to satisfy closing conditions and receive
necessary approvals are all forward-looking information.
These statements are not guarantees of future performance and
involve risks and uncertainties that are difficult to control or
predict. Therefore, actual outcomes and results may differ
materially from those expressed in these forward-looking statements
and readers should not place undue reliance on such statements.
Statements speak only as of the date on which they are made, and
the Company undertakes no obligation to update them publicly to
reflect new information or the occurrence of future events or
circumstances, unless otherwise required to do so by law.
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FOR ADDITIONAL
INFORMATION IN RESPECT OF CURRIE ROSE, PLEASE
CONTACT: |
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Mike Griffiths,
CEO |
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Catherine Beckett,
Manager Corporate Affairs |
Office:
905-688-9115 |
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Office:
905-688-9115 |
Email:
info@currierose.com |
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Email:
info@currierose.com |
Currie Rose Resources (TSXV:CUI)
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