In­ter­na­tional Sa­muel ac­quires Mickey Davis prop­erty

Stockwatch Daily - - MINES & METALS - Mr. Con­rad Swan­son re­ports

IN­TER­NA­TIONAL SA­MUEL Ex­plo­ration Corp. has ac­quired the Mickey Davis gold and cop­per prop­erty, a district-scale ex­plo­ration project lo­cated in Bri­tish Columbia’s Golden Tri­an­gle.

High­lights:

• Po­si­tions In­ter­na­tional Sa­muel Ex­plo­ration Corp. as a lead­ing Golden Tri­an­gle ex­plo­ration ju­nior.

• Trans­ac­tion de­liv­ers a trans­for­ma­tional four-fold in­crease in the Com­pany’s Golden Tri­an­gle land po­si­tion, from 4,558 ha to 24,089 ha.

• Project shares more than 35km of con­tigu­ous claim bound­aries with the Ball Project, in which global min­ing com­pany Antofa­gasta has signed a US$31M earn-in op­tion through Evrim Re­sources Corp.

• Sig­nif­i­cant ex­plo­ration po­ten­tial in a Vol­canics set­ting.

• Gold, sil­ver and cop­per min­er­al­iza­tion pre­vi­ously iden­ti­fied on Project.

• Project is con­tigu­ous to Com­pany’s re­cently an­nounced Lu­cifer Gold Project and less than 750m from the Hart Gold Project be­ing ad­vanced by Golden Ridge Re­sources Ltd.

• Over the past decade, more gold has been found in the Golden Tri­an­gle than any other min­ing camp world­wide.

“Hav­ing been part of Richfield Ven­tures’ Black­wa­ter discovery which was ac­quired by New Gold in 2011 for $550-mil­lion, we are once again tremen­dously ex­cited by the early prospects of an­other emerg­ing ex­plo­ration camp within Bri­tish Columbia. The Mickey Davis project po­si­tions In­ter­na­tional Sa­muel Ex­plo­ration Corp. as an up­com­ing ex­plo­ration leader in the world-class Golden Tri­an­gle district. Com­bined with our re­cent ac­qui­si­tion of the Lu­cifer Gold project, we be­lieve that the com­pany is well po­si­tioned among the con­tenders for the next large gold discovery in the re­gion,”

stated Con­rad Swan­son, chair­man of In­ter­na­tional Sa­muel.

About the Mickey Davis project

The Mickey Davis project con­sists of 22 min­eral claims struc­tured into two ten­ure blocks. The district-scale project com­prises a to­tal of 19,531.05 hectares (ap­prox­i­mately 48,242 acres). Along with im­me­di­ate and con­tigu­ous prox­im­ity to a num­ber of min­eral show­ings be­ing ex­plored by neigh­bour­ing com­pa­nies, gold, sil­ver and cop­per min­er­al­iza­tion has also been his­tor­i­cally iden­ti­fied on the project in the early 1990’s (Stow Re­sources Ltd., MINFILE No. 104G 200). In ad­di­tion to an ex­ten­sive claim bor­der with the Ball project be­ing ad­vanced by Antofa­gasta and Evrim Re­sources Ltd. un­der a $31-mil­lion (U.S.) earn-in, the Mickey Davis project is also con­tigu­ous with the com­pany’s newly ac­quired Lu­cifer Gold project. The Mickey Davis project also has close prox­im­ity to a num­ber of other ex­plo­ration projects, in­clud­ing that of Golden Ridge Re­sources Ltd. and their earn-in on Bar­rick Gold’s Hank Project. The tar­get en­vi­ron­ment at the Mickey Davis project is a vol­canics set­ting (Stuhini Group and Hazel­ton Group Vol­canics) known to host min­er­al­iza­tion else­where in the im­me­di­ate area, as well as prospec­tive con­tact points with the Juras­sic un­con­for­mity.

Im­me­di­ate ex­plo­ration plans

As pre­vi­ously noted, the Mickey Davis project is lo­cated less than 750 me­tres from the Hank Gold project, which is cur­rently be­ing drilled by Golden Ridge Re­sources Ltd. un­der an op­tion from Bar­rick Gold. Con­se­quently, the com­pany has been in dis­cus­sions with ser­vice com­pa­nies presently work­ing on the Hank Gold project for Golden Ridge Re­sources Ltd. with an ob­jec­tive to com­mence field and geo­phys­i­cal ex­plo­ration on the Mickey Davis and Lu­cifer Gold projects this fall.

The com­pany fur­ther in­tends to com­mence drilling within its sig­nif­i­cant land po­si­tion in the Golden Tri­an­gle in 2018.

Terms of the trans­ac­tion

The com­pany is ac­quir­ing 100 per cent of the Mickey Davis project from arm’s-length par­ties in ex­change for a cash pay­ment of $100,000, the is­suance of 12 mil­lion com­mon shares and the grant­ing of a 2 per cent net smelter re­turn.

We seek Safe Har­bor.

Michael Arthurs, Shane Wil­liam Ebert, Gre­gory Trevor Ste­wart, Con­rad Kemp Swan­son

(ISS) Shares: 27,350,653

Newspapers in English

Newspapers from Canada

© PressReader. All rights reserved.