TORONTO, Aug. 27, 2015 /CNW/ - GPM Metals
Inc. (TSXV: GPM) (the "Company" or "GPM") and Goldeye
Explorations Limited (TSXV: GGY) (the "Company" or "GGY") wish to
announce the commencement of an airborne high resolution VTEM
survey with 200 meter line spacing over 1264 line kilometers at the
Weebigee property and the adjoining recently staked ground
consisting of approximately 6,500 hectares in total.
GPM Metals is the operator of the project.
The helicopter airborne EM and Horizontal Magnetic Gradiometer
survey will assist the Company in identifying geological structures
and conductors that may indicate prospective diamond drill
targets.
This survey will be undertaken by Geotech Ltd., Aurora, Ontario.
The Company also reports that a 4 man geological prospecting
crew has been groundtruthing, sampling and mapping in the Sandborn
Bay area since mid June of this year.
The prospecting field crew is scheduled to re-locate their
exploration camp to the eastern section of Sandy Lake within the next 7 days, to continue
their early stage reconnaissance field work and sampling.
GPM and Goldeye wish to thank the First Nation communities of
Sandy Lake and Keewaywin for
their co-operation and logistical support of this ongoing
mineral exploration program.
About Weebigee
Weebigee is a high-grade gold project located near Sandy Lake, approximately 225 kilometers north
of Red Lake and 200 kilometers
west of Goldcorp's Musselwhite mine, in Northwestern Ontario. The Project comprises a
100% interest in 225 contiguous claims (363 claim units) covering
approximately 6,000 hectares in the highly prospective and
underexplored Sandy Lake
greenstone belt. Certain of the claims are subject to a 1% net
smelter returns (NSR) royalty. The Project has a very promising
potential based on its greenstone geology and known mineralization
showings. Weebigee lies within the traditional territory of
Sandy Lake First Nation ("SLFN")
with whom Goldeye signed a comprehensive Exploration Agreement in
2013.
About GPM Metals Inc.
GPM Metals Inc. focuses on acquiring and exploring district
scale exploration properties. Currently the two main projects are
the Company's Walker Gossan Project, NT; and the Weebigee Gold
Project in Sandy Lake,
Ontario.
The company treasury is well funded going forward; and has a
strong shareholder base. Management and insiders hold approximately
30% of outstanding shares.
About Goldeye Explorations Limited
Goldeye Explorations is a Canadian gold-focused junior
exploration company engaged in the acquisition, exploration and
evaluation of properties in mineral rich, politically secure
jurisdictions. Goldeye's flagship property is Weebigee, located
near Sandy Lake in Northwestern Ontario. The company has
additional properties in Ontario
(Gold Rock, and West Shining Tree), and British Columbia (Todd
Creek).
All scientific and technical information in this press release
has been prepared under the supervision of Dan Noone, (Vice President Exploration and a
Director of GPM), a "qualified person" within the meaning of
National Instrument 43-101. Mr. Noone (B.Sc Geology, MBA) is a
member of the Australian Institute of Mines and Metallurgy.
Forward Looking Statements
This news release contains certain forward-looking information
and statements within the meaning of applicable securities laws.
The use of any of the words "expect", "anticipate", "continue",
"estimate", "may", "might", "will", "project", "should", "believe",
"plans", "intends" and similar expressions are intended to identify
forward-looking information and/or statements.
Forward-looking statements and/or information are based on a number
of material factors, expectations and/or assumptions of GPM which
have been used to develop such statements and/or information but
which may prove to be incorrect. Although GPM believes that the
expectations reflected in such forward-looking statements and/or
information are reasonable, undue reliance should not be placed on
forward-looking statements as GPM can give no assurance that such
expectations will prove to be correct. In addition to other factors
and assumptions which may be identified herein, assumptions have
been made regarding, among other things: results from planned
exploration and drilling activities; GPM's future plans for
operational expenditures; the accuracy of the interpretations of
exploration and drilling activity results; availability of
financing to fund current and future plans and expenditures; the
impact of increasing competition; the general stability of the
economic and political environment in which GPM has property
interests; the general continuance of current industry conditions;
aboriginal matters; the timely receipt of any required regulatory
approvals; the ability of GPM to obtain qualified staff, equipment
and/or services in a timely and cost efficient manner; the ability
of the operator of each project in which GPM has property interests
to operate in a safe, efficient and/or effective manner and to
fulfill its respective obligations and current plans; future
commodity prices; currency, exchange and/or interest rates; and the
regulatory framework regarding royalties, taxes and/or
environmental matters in the jurisdictions in which GPM has
property interests. The forward-looking information and statements
included in this news release are not guarantees of future
performance and should not be unduly relied upon. Such information
and/or statements, including the assumptions made in respect
thereof, involve known and unknown risks, uncertainties and other
factors that may cause actual results and/or events to differ
materially from those anticipated in such forward-looking
information and/or statements including, without limitation: risks
associated with the uncertainty of exploration results and
estimates, currency fluctuations, the uncertainty of conducting
operations under a foreign regime, exploration risk, the
uncertainty of obtaining all applicable regulatory approvals, the
availability of labour and/or equipment, the fluctuating prices of
commodities, the availability of financing and GPM's dependence on
its management personnel, other participants in the property areas
and/or certain other risks detailed from time-to-time in GPM's
public disclosure documents, (including, without limitation, those
risks identified in this news release and GPM's current
management's discussion and analysis). Furthermore, the
forward-looking statements contained in this news release are made
as at the date of this news release and the Company does not
undertake any obligations to publicly update and/or revise any of
the included forward-looking statements, whether as a result of
additional information, future events and/or otherwise, except as
may be required by applicable securities laws.
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 and/or
accuracy of this release.
SOURCE GPM Metals Inc.