TORONTO, July 22, 2015 /CNW/ - GPM Metals Inc. (TSXV: GPM) (the "Company" or "GPM") is pleased to announce that approval for EL 24305 to proceed to grant has been obtained; enabling the Company to proceed with exploration on key areas of the Walker Gossan Project ("WGP"), Northern Territory, Australia . The project is a joint venture between the Company and Rio Tinto Exploration PTY Ltd. (see January 27, 2014 press release of the Company available on SEDAR at www.sedar.com). The approvals represent a major milestone for the project as the tenements have been under application for in excess of 40 years following the identification of favourable and highly anomalous areas in 1972.
The WGP lies within one of the great metallogenic provinces of the world. The WGP is located within the Walker Fault Zone, which was identified by the Northern Territory Geological Society ("NTGS") as being the "hottest untested exploration play in the Northern Territory" in a 2004 publication of the NTGS.
Included within the North Australian Zinc Province; which currently provides 30% of the world zinc production, are a number of significant silver, lead, zinc and copper deposits; including the Mt. Isa, George Fisher, McArthur River, Cannington and Century Mines.
The Company is currently planning an initial exploration program to commence in September of this year. Work will consist of rock and soil geochemistry, geological mapping and geophysics over key targets for drilling which is currently scheduled to take place in mid 2016.
Patrick Sheridan , CEO of GPM stated "We are looking delighted to be moving ahead with WGP and look forward to working diligently with our partners for the development of the project and to the benefit of stakeholders."
ABOUT GPM METALS INC.
GPM Metals Inc. focuses on acquiring and exploring district scale exploration properties. Currently thetwo main projects are the Company's Walker Gossan Project, NT; and the Weebigee Gold Project in Sandy Lake, Ontario.
All scientific and technical information in this press release has been prepared under the supervision of Dan Noone, (Vice President Exploration and a Director of GPM), a "qualified person" within the meaning of National Instrument 43-101. Mr. Noone (B.Sc Geology, MBA) is a member of the Australian Institute of Mines and Metallurgy.
Forward Looking Statements
This news release contains certain forward-looking information and statements within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "may", "might", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information and/or statements. Forward-looking statements and/or information are based on a number of material factors, expectations and/or assumptions of GPM which have been used to develop such statements and/or information but which may prove to be incorrect. Although GPM believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements as GPM can give no assurance that such expectations will prove to be correct. In addition to other factors and assumptions which may be identified herein, assumptions have been made regarding, among other things: results from planned exploration and drilling activities; GPM's future plans for operational expenditures; the accuracy of the interpretations of exploration and drilling activity results; availability of financing to fund current and future plans and expenditures; the impact of increasing competition; the general stability of the economic and political environment in which GPM has property interests; the general continuance of current industry conditions; aboriginal matters; the timely receipt of any required regulatory approvals; the ability of GPM to obtain qualified staff, equipment and/or services in a timely and cost efficient manner; the ability of the operator of each project in which GPM has property interests to operate in a safe, efficient and/or effective manner and to fulfill its respective obligations and current plans; future commodity prices; currency, exchange and/or interest rates; and the regulatory framework regarding royalties, taxes and/or environmental matters in the jurisdictions in which GPM has property interests. The forward-looking information and statements included in this news release are not guarantees of future performance and should not be unduly relied upon. Such information and/or statements, including the assumptions made in respect thereof, involve known and unknown risks, uncertainties and other factors that may cause actual results and/or events to differ materially from those anticipated in such forward-looking information and/or statements including, without limitation: risks associated with the uncertainty of exploration results and estimates, currency fluctuations, the uncertainty of conducting operations under a foreign regime, exploration risk, the uncertainty of obtaining all applicable regulatory approvals, the availability of labour and/or equipment, the fluctuating prices of commodities, the availability of financing and GPM's dependence on its management personnel, other participants in the property areas and/or certain other risks detailed from time-to-time in GPM's public disclosure documents, (including, without limitation, those risks identified in this news release and GPM's current management's discussion and analysis). Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligations to publicly update and/or revise any of the included forward-looking statements, whether as a result of additional information, future events and/or otherwise, except as may be required by applicable securities laws.
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 and/or accuracy of this release.
SOURCE GPM Metals Inc.
For further information: GPM Metals Inc., Att: John Patrick Sheridan, CEO, Suite 301 - 141 Adelaide Street West, Toronto, Ontario M5H 3L5, Telephone : (416) 628-5904, Telefax : (416) 628-6835, Email: [email protected]