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St. James Gold Corp. (TSX-V: LORD) Reports on New Gold Exploration at Grub Line Property, Newfoundland, Canada

VANCOUVER, British Columbia, July 21, 2021 (GLOBE NEWSWIRE) — St. James Gold Corp. (TSXV: LORD) (OTCQB: LRDJF) (FSE: BVU3), St. James Gold Corp. (the…

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VANCOUVER, British Columbia, July 21, 2021 (GLOBE NEWSWIRE) — St. James Gold Corp. (TSXV: LORD) (OTCQB: LRDJF) (FSE: BVU3), St. James Gold Corp. (the “Company”) is pleased to announce exploration is underway at the recently optioned Grub Line gold property in Newfoundland, Canada (the “Grub Line Property”) at a prospective location along the Gander River Ultramafic Belt with project field operator, local exploration service company Planet X Exploration Services Ltd.

The Grub Line Property includes 29 map-staked claims covering 725 Hectares. The initial exploration program currently underway includes regional prospecting and ground-truth verification of historical prospects located on the property.

The Grub Line Property covers a package of the Gander River complex of rocks. See photographs below. This package is comprised of felsic volcanics, mafic volcanics, ultramafic rocks, and gabbro intrusions. Intense hydrothermal activity has altered the rocks and strong sericite, calcite, chlorite & talc-carbonate alteration has been observed in host rocks and quartz veins throughout the property. There can be rich endowments of sulphide minerals in these geological environments. Listwanites or carbonatized ultramafics that commonly occur in the gander river complex of rocks have been identified as potentially gold-bearing.

The spatial relationship of gold mineralization to faults zones with carbonatized ultramafics/listwanites suggests a comparison to the Mother Lode Belt in California. Similar listwanitic gold quartz veins have formed economic deposits in the metamorphic belts of California and the Juneau Gold belt in Alaska. The program manager, Planet X Exploration Services Ltd. is using a general deposit model where the carbonatization of ultramafic rocks and the development of gold veins in and above thrusts, reverse and normal faults act as a guide for exploration along the Grub Line Property.

See full video of Dustin Keats, Grandson of Fred Keats, who founded New Found Gold Corp’s Keats Zone exploring Grub Line: https://youtu.be/y7cu1zJYkjc

Photograph #1: Bedrock exposure showing prospective alteration.

https://www.globenewswire.com/NewsRoom/AttachmentNg/b62c5339-2de6-4f5d-b59c-36be45e3ee7e

Photograph #2: Geological feature of interest, oxidized sulphide system in situ.

https://www.globenewswire.com/NewsRoom/AttachmentNg/2e115438-9bdf-4e51-8407-1b3b8ac6b576

Map of the Grub Line Property:

https://www.globenewswire.com/NewsRoom/AttachmentNg/d5aed487-8b7a-4f7f-9dd9-463916a6ef53

Location of the Grub Line Property adjacent to New Found Gold Corp. Queensway property:

https://www.globenewswire.com/NewsRoom/AttachmentNg/e145936b-539a-4bfc-a369-3b1ddaf7901f

The initial exploration program at the Grub Line Property consists of regional prospecting and ground-truthing historical prospects located within the 725-hectare project area. The Grub Line Property is believed to be an important aspect of the major structural corridors related to both the Gander Gold belt and the Newfound Gold Corporation – “Keats zone” hosting bonanza high grade gold mineralization. The Grub Line Property hosts several well-mineralized zones and is located only 8 km east of the Newfound Gold Corp.’s “Keats Discovery”, and 3 km west of the Town of Gander, on the island of Newfoundland, Canada.

Detailed view of the Grub Line Property, showing active quarries both on site and nearby:

https://www.globenewswire.com/NewsRoom/AttachmentNg/e3af0264-22f8-4ad8-93a4-5e2789f8cf99

The following quote from the technical report by Christopher Baldys, P.Eng and Dean Fraser, P.Geo. for the Grun Line Property dated April 1, 2021 addresses the significance of the quarry sites on the property.

  “Generally speaking, the claim block occurs in an area of fairly gentle topography with locally sparse to moderate tree cover. Several outcrops were noted during the Property visit as well as locally abundant till cover in places. Performing exploration on the claims will likely require some consultation with the aggregate companies working the area as well as communications with cabin owners depending on the focus area of the work program.”

George Drazenovic, CEO, comments “the active quarries on our claim block are very important because they give us a direct view of bedrock. The pictures taken by Wesley Keats for Planet X Exploration Services Ltd. in this first work program illustrate the bedrock. Our NI 43-101 report on this property noted this outcrop with a surprising degree of alteration.

Our contractors Planet X Exploration Services Ltd. provide a valuable connection in the local community with both the aggregate companies and cabin owners. Assays are pending on our first samples, including from the rocks pictured in this news release. I look forward to soon providing geological information from a detailed prospecting program at our Grub Line Property. Information will also be available soon on our Quinn Lake gold property.”

To view full picture and video gallery of St. James Gold Corp’s Grub Line property lead by Planet X Exploration Services Ltd. please visit: https://stjamesgold.com/grub-line-property/

NI-43-101 Disclosure

Dr. Stewart Jackson, P.Geo., senior technical advisor geologist, and a Qualified Person within the meaning of National Instrument 43-101 (Standards of Disclosure for Minerals Projects), has reviewed and approved the technical and scientific information presented herein as accurate and has approved this news release.

Note: The data reported herein is historic in nature and St. James Gold Corp. has relied on information in the assessment reports filed with the NL government and from information in MODS (Mineral Occurrence Data System) published by the Newfoundland and Labrador Department of Natural Resources.

About St. James Gold Corp.

St. James Gold Corp. is a publicly traded company listed on the TSX Venture Exchange under the trading symbol “LORD”, in the U.S. Market listed on OTCQB under “LRDJF” and on the Frankfurt Stock Exchange under “BVU3”. St. James Gold is focused on creating shareholder value through the discovery and development of economic mineral deposits by: acquiring prospective exploration projects with well-delineated geological theories; integrating all available geological, geochemical and geophysical datasets; and financing efficient exploration programs. The company currently holds: (i) an option to acquire a 100-per-cent interest in 29 claims, covering 1,791 acres, in the Gander gold district in north-central Newfoundland located adjacent to New Found Gold Corp.‘s Queensway North project; and (ii) an option to acquire a 100-per-cent interest in 28 claims, covering 1,730 acres, in central Newfoundland located adjacent to Marathon Gold’s Valentine Lake property; and (iii) an option to acquire up to an 85-per-cent interest in the Florin Gold Project with current resource of 2.47M Inferred Ounces (Ron Simpson NI 43-101), covering nearly 22,000 contiguous acres in the historical Tintina gold belt in Yukon.

For more corporate information please visit: http://stjamesgold.com/
St. James Gold Corp.
For further information, please contact:
George Drazenovic, Chief Executive Officer
Tel: 1 (800) 278-2152
Email: [email protected]

Forward Looking Statements

This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, “forward-looking statements”) that relate to St James Gold’s current expectations and views of future events. Forward looking statements in this news release relate to, among other things: the upcoming 2021 drilling and exploration program at the Quinn Lake and Grub Line properties, the expected field work to occur on the Quinn Lake and Grub Line properties, the structural composition of the Grub Line Property; the potential for economic deposits at the Grub Line Property, and any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance. Often, but not always, forward-looking statements can be identified through the use of words or phrases such as “will likely result”, “are expected to”, “expects”, “will continue”, “is anticipated”, “anticipates”, “believes”, “estimated”, “intends”, “plans”, “forecast”, “projection”, “strategy”, “objective” and “outlook”. Forward-looking statements are not historical facts and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release.

Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond St James Gold’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, the impact and progression of the COVID-19 pandemic, the initial results from any field work and drilling conducted, and other factors, certain of which are outlined in the Company’s publicly filed documents under the Company’s profile on the System for Electronic Document Analysis and Retrieval at www.sedar.com. St James Gold undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for St. James Gold to predict all of them, or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.

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.

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Copper Fox Identifies Additional Porphyry Targets at Eaglehead

Calgary, Alberta–(Newsfile Corp. – January 20, 2022) – Copper Fox Metals Inc. (TSXV: CUU) (OTCQX: CPFXF) ("Copper Fox" or the "Company") through its…

Calgary, Alberta–(Newsfile Corp. – January 20, 2022) – Copper Fox Metals Inc. (TSXV: CUU) (OTCQX: CPFXF) (“Copper Fox” or the “Company”) through its wholly owned subsidiary Northern Fox Copper Inc. is pleased to provide an update on the geophysical modelling on its 100% owned Eaglehead polymetallic porphyry copper project located approximately 50 kilometers (‘km’) east of Dease Lake, British Columbia. The Eaglehead project covers a large portion (15,956 ha) of the late Jurassic age, Eaglehead stock located at the southern margin of the Quesnel terrane. The Quesnel terrane hosts several porphyry copper deposits including Lorraine, Mt. Milligan, and Mount Polly to the south.

In preparation for a 2022 field season, compilation and re-interpretation of current and historical exploration data resulted in completion of a Magnetization Vector Inversion (MVI) analyses of the airborne magnetic and radiometric data collected in 2014. Magnetization Vector Inversion is an exploration technique used to locate magnetite bearing, high temperature hydrothermal centres indicative of potassic (K-spar-magnetite-secondary biotite) altered zones associated with porphyry systems.

Highlights

  • The MVI analyses identified five areas, interpreted to represent late-stage intrusive plugs with associated potassic (magnetite) alteration.
  • Four of the interpreted late-stage intrusive plugs exhibit a strong spatial correlation to the Thibert Fault system.
  • The four interpreted intrusives located along the Thibert Fault exhibit a strong positive correlation to known areas of copper mineralization and copper-molybdenum (‘Cu-Mo’) in soil geochemical anomalies.
  • The compilation indicates the main portion of the porphyry could be to the north and at depth below the near surface mineralized zones.

Elmer B. Stewart, President and CEO of Copper Fox, stated, “The MVI study has identified a 10km long linear trend with four late-stage intrusive plugs exhibiting the magnetic characteristics of a porphyry copper system. These late-stage intrusives are located at depth below the surface zones of mineralization distributed along or in proximity to the Thibert Fault and show a very strong correlation with all known areas of copper mineralization and Cu-Mo in soil geochemical anomalies. The MVI study also identified two previously unknown targets and identified priority areas in which to focus future exploration.

Geological Model

The historical drilling intersected six, open ended zones of near surface, intrusion hosted polymetallic porphyry style mineralization. Modelling (3D) of the mineralization in the Bornite and East zones and the three distinct, overlapping episodes of copper mineralization suggests that the drilling intersected the very upper level of an evolving porphyry system.

The MVI study, and trace element ratios (fertility indices) indicate late-stage, intrusive/hydrothermal activity at depth, the upper levels of which are represented by the near surface zones of porphyry mineralization. The spatial association of the copper mineralization and interpreted buried intrusives suggests the Thibert Fault exerted significant control on the emplacement of the late stage intrusives and porphyry mineralization. The model provides an explanation for the MVI study results, area/zones of mineralization and distribution of Cu-Mo in soil anomalies in relation to the intrusive plugs and structures. The data suggest that the main portion of the porphyry system could be to the north and at depth below the surface mineralization, see Figure 1.

Figure 1. MVI signature at 600 m depth with soil geochemistry, mineralization, and structures. Scale is 1:50,000.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2177/110800_2bc7f95a34a899e8_001full.jpg

MVI Study

The MVI analysis was completed using Geosoft’s VOXI Magnetic Vector Inversion software. Multiple inversions were carried out to find a model that fit the observed data within the allocated noise threshold while not adding unnecessary features to the model. The final model was generated by applying the VOXI IRI focussing method to recover a sharper model. Horizontal slices ranging from 200 to 600 meters below surface were generated during the modelling, the 600-depth slice was used for the current interpretation. Highlights of the study are listed below:

  1. Five positive magnetic signatures were identified.
  2. The magnetic signatures are interpreted to represent potassic (magnetite) alteration associated with late-stage intrusive plugs within the Eaglehead intrusive.
  3. The plugs are located at depth below the Bornite-East zone, West-Camp zone, between the East zone and the Far East zone, on the west side of the Thibert Fault and to the north of the mineralized area.
  4. Four of the five intrusive plugs exhibit a strong spatial association with the Thibert Fault system.
  5. The shape of the magnetic signature on the west side of the Thibert Fault suggests that the Thibert Fault offset the mineralization in the Bornite and East zones potentially up to 1km to the east. The MVI anomaly on the west side of the Thibert Fault has not been tested by drilling.
  6. A large, NNW trending arcuate shaped area of positive magnetization extends north of the Camp-Pass zones crosscutting the regional trend of the Eaglehead intrusive. The cause of this feature is unknown and will be fact checked during the 2022 field program.

Qualified Person

Elmer B. Stewart, MSc. P. Geol., President and CEO of Copper Fox, is the Company’s non-independent, nominated Qualified Person pursuant to National Instrument 43-101, Standards for Disclosure for Mineral Projects, has reviewed the scientific and technical information disclosed in this news release.

About Copper Fox

Copper Fox is a Tier 1 Canadian resource company listed on the TSX Venture Exchange focused on copper exploration and development in Canada and the United States. The principal assets of Copper Fox and its wholly owned Canadian and United States subsidiaries, being Northern Fox Copper Inc. and Desert Fox Copper Inc., are the 25% interest in the Schaft Creek Joint Venture with Teck Resources Limited on the Schaft Creek copper-gold-molybdenum-silver project located in northwestern British Columbia and the 100% ownership of the Van Dyke oxide copper project located in Miami, Arizona. For more information on Copper Fox’s other mineral properties and investments visit the Company’s website at http://www.copperfoxmetals.com.

For additional information contact: Investor line 1-844-464-2820 or Lynn Ball, at 1-403-264-2820.

On behalf of the Board of Directors

Elmer B. Stewart
President and Chief Executive Officer

Neither 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.

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of the Canadian securities laws. Forward-looking information is generally identifiable by use of the words “believes,” “may,” “plans,” “will,” “anticipates,” “intends,” “budgets”, “could”, “estimates”, “expects”, “forecasts”, “projects” and similar expressions, and the negative of such expressions. Forward-looking information in this news release include statements about: the results of an MVI study; a large, arcuate magnetic signature; interpreted deeply buried intrusives; strong spatial correlation of the interpreted intrusives to the Thibert Fault system; the main portion of the porphyry is to the north and at depth; and fertility indices.

In connection with the forward-looking information contained in this news release, Copper Fox and its subsidiaries have made numerous assumptions regarding, among other things: the geological, metallurgical, engineering, financial and economic advice that Copper Fox has received is reliable and is based upon practices and methodologies which are consistent with industry standards; the speed of field studies and the stability of economic and market conditions. While Copper Fox considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies.

Additionally, there are known and unknown risk factors which could cause Copper Fox’s actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Known risk factors include among others: the results of an MVI study may not be accurate; the arcuate magnetic signature may not represent deeply buried intrusives; the strong spatial correlation of the interpreted intrusives to the Thibert Fault system areas of copper mineralization and soil geochemical anomalies may not be representative of an actual geological setting; comments on the location and depth of the main portion of the porphyry may not be accurate; the fertility indices may not be related to a magmatic system; uncertainties relating to interpretation of the previous results; the overall economy may deteriorate; uncertainty as to the availability and terms of future financing; fluctuations in commodity prices and demand; currency exchange rates; and uncertainty as to timely availability of permits and other governmental approvals.

A more complete discussion of the risks and uncertainties facing Copper Fox is disclosed in Copper Fox’s continuous disclosure filings with Canadian securities regulatory authorities at www.sedar.com. All forward-looking information herein is qualified in its entirety by this cautionary statement, and Copper Fox disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events, or developments, except as required by law.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/110800




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Leocor Gold Completes Phase 1 Soil Campaign at Hodges Hill Project, North Central Newfoundland, Canada

Vancouver, British Columbia – TheNewswire – January 20, 2022 – Leocor Gold Inc. (the “Company” or “Leocor”) (CSE:LECR) (CNSX:LECR.CN) (OTC:LECRF)…

Vancouver, British Columbia – TheNewswire – January 20, 2022Leocor Gold Inc. (the “Company” or “Leocor”) (CSE:LECR) (CNSX:LECR.CN) (OTC:LECRF) (FRA:LGO) is pleased to announce the completion of a soil sampling campaign, consisting of 4583 soils, on the Hodges Hill Property, consisting of nine mineral licenses totaling 1562 claims and covering 39,050 hectares (390 square km) in the southwest corner of the Western Exploit District, north central Newfoundland, Canada.

 

This campaign forms part of a comprehensive phase one exploration program on the grassroots-stage property. The claims are host to distinct magnetic high units (Gabbros) in settings indicative of known regional gold occurrences. These rocks are associated with continental volcanism. Gabbros have long been recognized as being directly associated with gold mineralization in the Baie Verte area in occurrences such as Anaconda Mines Pine Cove deposit and more recently, the 2014 discovery by Anaconda of the Stog’er Tight and Argyle showings. The project covers major regional NE and NNW structures outlined by the regional NFLD airborne magnetic surveys. Anomalous government till sampling programs have identified gold and arsenic anomalies associated with these regional structures. The overall distribution of soils from this 2021 Leocor campaign is illustrated in Figure 1.

 

Leocor is working with GroundTruth exploration on the program which we expect to define a significant mineralized footprint.  The GroundTruth method breaks down the exploration process into phases, typically defined as follows:

 

Phase 1)

  • Soils 100 m line separation and 25 m sampling separation 

  • Aeromagnetic and VLF survey 

  • Lidar Survey 

  • Ground Magnetic survey 

Phase 2)

  • GT Probe Drilling (around areas of interest constituting potential targets) 

  • Induced Polarization across potential drill targets 

Phase 3)

  • GT Rab Drilling (typically 60m holes in fences across shallow targets) 

Phase 4)

  • Diamond or Reverse Circulation drilling (once structure and orientation of target are well defined) 

 

It has recently come to light that the Central Newfoundland Gold Belt is prospective for high-grade gold associated with strong northeast trending regional structures. High-grade gold at New Found Gold’s Keats showing and Labrador Gold’s Big Vein target were originally discovered with regional and targeted lake, till and soil geochemical programs. Both of these showings are associated with linear 1st vertical derivative Magnetic anomalies.  Much of the gold in Newfoundland appears to have been deposited in a fairly tight window of time between 437 and 375 Ma.

 

Very similar geophysical anomalies are present on the Leocor claims and are associated with regional till anomalies identified by historical exploration (Noranda and others) and Newfoundland Government geochemical surveys.

 


Click Image To View Full Size

 

Figure 1: Completed soil sampling for the Hodges Hill project

 

The phase 1 program was designed to follow up additional 1st derivative magnetic high linear anomalies that are associated with regional till anomalies on the claims. Detailed C-horizon soil geochemical grids will target prospective magnetic high anomalies. Samples will be collected below the oxidized B-horizon wherever possible as this layer has been identified as being a mask to underlying anomalous till sediments which are more reflective of source material

 

Any soil anomalies identified will be followed up with prospecting, additional geochemical, geophysical, and geological programs, and drilling in future exploration programs.

 

Chief financial officer appointment

 

Zula Kropivnitski has resigned as the company’s chief financial officer for personal reasons, effectively immediately.

 

The company has appointed Heidi Gutte as chief financial officer of the company. Ms. Gutte specializes in providing corporate finance, financial reporting, consulting, taxation and other accounting services to both small businesses as well as public companies in various industries. She also assists in many aspects of clients’ administration, corporate compliance and other activities.

 

Ms. Gutte earned her bachelor’s degree of computer engineering from the University of Applied Sciences in Brandenburg, Germany. She holds the professional designation of chartered professional accountant (CPA, CGA) and is a member of Chartered Professional Accountants of British Columbia and Canada. Ms. Gutte has had extensive experience as a controller and chief financial officer of numerous publicly traded and private corporations in several industries.

 

National Instrument 43-101 Disclosure


Dr. Paul David Robinson, P.Geo, is a qualified person as defined by National Instrument 43-101. Dr. Robinson supervised the preparation of the technical information in this news release.

 

About Leocor Gold Inc.

 

Leocor Gold Inc. is a British Columbia-based resource company involved in the acquisition and exploration of precious metal projects, with a current focus in Atlantic Canada.  Leocor, through outright ownership and earn-in agreements, currently controls several gold-copper projects in prime exploration ground located within the prolific Baie Verte Mining District.  Leocor’s Bae Verte portfolio includes the Dorset, Dorset Extension, Copper Creek and Five Mile Brook projects, creating a contiguous nearly 2,000 hectare exploration corridor.  The Company also controls the 6,847-ha grassroots Startrek project near Gander, as well as three district scale land packages in North Central Newfoundland, known as Robert’s Arm, Hodge’s Hill, and Leamington, (collectively “Western Exploits”) representing over 144,000 hectares (1,440 square kilometers) of prospective exploration

Contact Information

Leocor Gold Inc.

Alex Klenman, Chief Executive Officer

Email: [email protected]

Telephone: (604) 970-4330

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

Cautionary Statements Regarding Forward-Looking Information

 

This press release contains forward-looking information within the meaning of Canadian securities laws. Such information includes, without limitation, information regarding the terms and conditions of the Option. Although Leocor believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct.

 

Forward looking information is typically identified by words such as: “believe”, “expect”, “anticipate”, “intend”, “estimate”, “postulate” and similar expressions, or are those, which, by their nature, refer to future events. Leocor cautions investors that any forward-looking information provided by Leocor is not a guarantee of future results or performance, and that actual results may differ materially from those in forward looking information as a result of various factors, including, but not limited to: the agreement of the parties to proceed with the proposed transaction on the terms set out in the Option Agreements or at all; Leocor’s ability to exercise the Options; the state of the financial markets for Leocor’s securities; the state of the natural resources sector in the event the Option, or any of them, are completed; recent market volatility; circumstances related to COVID-19; Leocor’s ability to raise the necessary capital or to be fully able to implement its business strategies; and other risks and factors that Leocor is unaware of at this time. The reader is referred to Leocor’s initial public offering prospectus for a more complete discussion of applicable risk factors and their potential effects, copies of which may be accessed through Leocor’s issuer page on SEDAR at www.sedar.com.

 

The forward-looking statements contained in this press release are made as of the date of this press release. Leocor disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

 

Copyright (c) 2022 TheNewswire – All rights reserved.

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Baroyeca Gold & Silver Inc. Announces Private Placement Financing

Vancouver, British Columbia–(Newsfile Corp. – January 20, 2022) – BAROYECA GOLD & SILVER INC. (TSXV: BGS) (the "Company") is pleased to announce that…

Vancouver, British Columbia–(Newsfile Corp. – January 20, 2022) – BAROYECA GOLD & SILVER INC. (TSXV: BGS) (the “Company”) is pleased to announce that it has agreed to a $3,010,000 non-brokered private placement of up to 8,600,000 units of its securities (the “Units”) at a price of $0.35 per Unit, each Unit consisting of one common share and one-half of a non-transferable share purchase warrant, with each whole such warrant entitling the holder to acquire one additional common share of the Company at a price of $0.50 per share for a period of one year. The Company may pay fees in cash and/or securities in connection with this financing.

The proceeds from the private placement will be used for corporate administration, operating expenses for its Colombian properties and general working capital.

The private placement is subject to acceptance for filing by the TSX Venture Exchange.

BAROYECA GOLD & SILVER INC.

Per: “Richard Wilson”
Richard Wilson, CEO

FOR INFORMATION CONTACT:

Rick Wilson – (604) 351-3599

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or the accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/110916






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