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Under the terms of the Option Agreement, the Company will reimburse the Vendors the sum of
Historically, the project has seen some activity when between 1899 and 1927, four (4) shallow shafts and several surface cuts were opened on the property to take advantage of several high-grade gold showings. The miners followed veins up to 1.8 meters wide and had assays up to 52.8g/t gold and 274 g/t silver with total production for this period being approximately 99 tonnes of ore as reported by the minister of mines. Production between 1935 and 1938 totaled 99 tonnes yielding 2,022 grams of gold and10,295 grams of silver.
Mineralization is considered to be a mesothermal type deposit, hosted in four parallel quartz veins, that can be traced in the host granitic rocks for over 3.2 kilometers. The veins average 90 centimeters in width with local swells up to 180 centimeters wide and carry pyrite, small amounts of native gold, galena, and sphalerite.
Recent, systematic exploration has not been undertaken on the property. Soil and rock geochemical, geophysical surveys and detailed geological mapping will be undertaken by the Company over the entire project area.
Bathurst CEO
This transaction is subject to approval of the
Engagement of investor relations consultant and grant of stock options.
Paradox is a
Paradox's engagement will be for a 12 month term, subject to termination by either party with 30 days written notice. The agreement with Paradox, as well as the grant of the Options, is subject to the acceptance of the
Qualified Person
and approved the scientific and technical disclosure in this news release. Mr. Warner is not independent of the Company.
ON BEHALF OF THE BOARD OF DIRECTORS
“Harold Forzley”
CEO
For more information contact
info@bathurstmetalscorp.com
604-783-4273
Neither
Forward Looking Statements
Certain of the statements made and information contained herein may contain forward- looking information within the meaning of applicable Canadian securities laws. Forward-looking information includes, but is not limited to, information concerning the Company's intentions with respect to the development of its mineral properties. Forward-looking information is based on the views, opinions, intentions and estimates of management at the date the information is made, and is based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated or projected in the forward-looking information (including the actions of other parties who have agreed to do certain things and the approval of certain regulatory bodies). Many of these assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct. 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. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by applicable securities laws, or to comment on analyses, expectations or statements made by third parties in respect of the Company, its financial or operating results or its securities. The reader is cautioned not to place undue reliance on forward-looking information.
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Copyright (c) 2023 TheNewswire - All rights reserved., source