VANCOUVER, Sept. 7, 2011 /CNW/ - Jet Gold Corp. (TSXV: JAU)(www.jetgoldcorp.com) today announced the acquisition of 100% of the Kshish molybdenum/copper
property which is located 15 kilometres from Terrace, BC.
In completing the acquisition, JetGold has agreed to a cash payment of
$15,000 and issuance of 150,000 shares to the vendor. The vendor will
continue to hold a 2% Net Smelter Royalty and the Company maintains the
right to purchase the NSR for $1,000,000. The acquistion is subject to
In announcing the acquisition, JetGold president & CEO, Brad Moynes
stated, "We believe the Kshish property will prove to be an important and
valuable asset in Jet Gold's precious metal holdings. It allows the
Company to continue to expand its position in the Terrace mining region
and diversify into additonal mineral forms."
The Kshish property covers an area of 4,082 hectares with elevations
ranging from 400-1,500 metres and is serviced by existing roads,
including an access road just one kilometre from the CN Rail line. The
730 hectare core property consists of molybdenum geochemical anomalies
occurring over approximately five kilometres. A large block of
additional claims, over an area of 3,352 hectares, was staked by the
company in October 2007 based on its geological work and anomalous BC
Geologic Survey geochemical samples located nearby on Lean-to Mountain.
Permitting has been filed for the Kshish property and approvals are
expected in the fall of 2011. Additional information will be made
available as it materializes.
JetGold is a Canadian resource exploration company actively developing
gold, silver, copper, zinc, molybdenum and tellurium mineral resource
properties in British Columbia, Canada. The company is currently
undertaking exploration of its three unique precious metal properties: Big Hammer, Silver Bay and Kshish.
Big Hammer Gold/silver/tellurium (Au/Ag/Te) property located 13 km southeast of
Silver Bay Silver/zinc (Ag/Zn) property located in west central BC
Kshish Copper/ Molybdenum (Mo/Cu) property located 15 km northeast of Terrace
JetGold is strategically investing in the Terrace and Smithers mining
districts of British Columbia based on excellent road access, abundant
power and water supply and close proximity to the Fairview Terminal
deep water container port in Prince Rupert. The port is an important
part of the Government of Canada's "Asia-Pacific Gateway & Corridor Initiative" and the Province of British Columbia's "Pacific Gateway" strategy. Additional information at: www.jetgoldcorp.com
On behalf of the Board of Directors,
Jet Gold Corp. (TSX.V: JAU)
"Brad J. Moynes"
Brad J. Moynes
President & CEO
885 West Georgia Street, Suite 1500, Vancouver, BC V6C-3E8
T: 604-601-2070 / F: 604-683-8125
Forward Looking Information: 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.
Statements containing forward-looking information express, as at the
date of this news release, the Company's plans, estimates, forecasts,
projections, expectations or beliefs as to future events or results and
are believed to be reasonable based on information currently available
to the Company.
Forward-looking statements and information are based on assumptions that
financing and personnel will be available when required and on
reasonable terms, and all necessary regulatory approvals and
shareholder approval will be obtained, none of which are assured and
are subject to a number of other risks and uncertainties
There can be no assurance that forward-looking statements will prove to
be accurate. Actual results and future events could differ materially
from those anticipated in such statements. Readers should not place
undue reliance on forward-looking information.
SOURCE Jet Gold Corp.
For further information:
Brad Moynes (604-601-2070)
Investor Relations, contact:
Gus Garisto (416-805-3106)