Acquisition of High Grade Gold Boulder Property in the Urban Area
2019年2月22日 - 2:36AM
UrbanGold Minerals Inc. ("UrbanGold" or the "Company” | TSXV: UGM)
is pleased to announce the acquisition of the StarGold property
consisting of 105 claims (5990 hectares) in the area of the
Urban-Windfall Gold Camp. The historical discovery was originally
made by Castle Rock Exploration Corp and announced in their news
release dated April 20, 1998. (Angular Boulder Yields
Exceptional Gold Values). Grab samples from the boulder were
reported to assay 8.99 oz/ton gold (279 g/t gold) and 2.9 oz/ton Ag
within stockwork quartz veining with variable amounts of
chalcopyrite and sphalerite. UrbanGold geologists have examined
samples from the boulder. It is to be noted that grab samples are
selective in nature and are not necessarily representative of the
mineralization hosted on the property.
UrbanGold has agreed to pay the non-arms length
vendors a one-time payment of $15,000 for a 100% interest in the
105 claims subject to a 1% NSR royalty. The large group is intended
to cover the area of the potential source of the boulder.
Very limited exploration was undertaken after
the discovery of the boulder, which coincided with the 1998
downturn in the mining industry. A review of existing data suggests
that airborne electromagnetics and magnetics are ideally suited for
potentially identifying the source.
Mathieu Stephens, President and CEO of UrbanGold
commented: “The size, shape and nature of the boulder all point to
a nearby source. In addition, local forests have been harvested
since 1998, adding new road infrastructure that will allow our
exploration team to easily and effectively canvas the area as soon
as ground conditions permit.”
Jens E. Hansen, P. Eng, Chairman of UrbanGold
states “The boulder area opens important new potential in area
located just 70 km south of the Windfall gold deposit.”
Please refer to the UrbanGold website and the
map accompanying this press release for the location of the
StarGold property with respect to Monaco property and Windfall
deposit. The 1998 news release by Castle Rock Exploration
Corp. is also posted.
StarGold
Map: http://www.globenewswire.com/NewsRoom/AttachmentNg/958b2ebf-65c3-4bc7-82f7-e4052d523d1f
Qualified Person
This news release has been prepared by Mathieu
Stephens, P.Geo., President and CEO for UrbanGold Minerals, the
Qualified Person, as defined by National Instrument 43-101.
About UrbanGold
UrbanGold is incorporated under the federal laws
of Canada and has its principal office in Ottawa, Ontario, Canada.
The Company is engaged in the evaluation, acquisition and
exploration of mineral properties in Canada, and its current focus
is Quebec. The Company plans to ultimately develop the properties,
bring them into production, option or lease the properties to third
parties, or sell the properties outright. The Company has not
determined whether these properties contain mineral reserves that
are economically recoverable, and the Company is considered to be
in the exploration stage.
Forward Looking Information
This press release contains "forward-looking
information” within the meaning of applicable securities laws that
is intended to be covered by the safe harbours created by those
laws. “Forward-looking information” includes statements that use
forward-looking terminology such as “may”, “will”, “expect”,
“intend”, “anticipate”, “believe”, “continue”, “potential” or the
negative thereof or other variations thereof or comparable
terminology.
Forward-looking information is not a guarantee
of future performance and is based upon a number of estimates and
assumptions of management at the date the statements are made.
Furthermore, such forward-looking information involves a variety of
known and unknown risks, uncertainties and other factors which may
cause the actual plans, intentions, activities, results,
performance or achievements of the Company to be materially
different from any future plans, intentions, activities, results,
performance or achievements expressed or implied by forward-looking
information. See “Risk Factors” in the Company’s Final Prospectus
dated December 13, 2018 filed on SEDAR at www.sedar.com for a
discussion of these risks.
The Company cautions that 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 information. Accordingly,
investors should not place undue reliance on forward-looking
information.
Except as required by law, the Company does not
assume any obligation to release publicly any revisions to
forward-looking information contained in this press release to
reflect events or circumstances after the date hereof.
For further information
Mathieu Stephens, Chief Executive
Officermstephens@urbangoldminerals.com
Jens Hansen, Chairman of the
Boardjhansen@urbangoldminerals.com
Phone (613)
721-2919www.urbangoldminerals.com
Neither the TSX Venture Exchange, nor its
Regulation Service Provider (as that term is defined in the
policies of the TSXV, accepts responsibility for the adequacy or
accuracy of this release.
Urbangold Minerals (TSXV:UGM)
過去 株価チャート
から 10 2024 まで 11 2024
Urbangold Minerals (TSXV:UGM)
過去 株価チャート
から 11 2023 まで 11 2024