VANCOUVER, Sept. 12, 2019 /CNW/ - KORE Mining Ltd. –TSXV: KORE ("KORE" or the "Company") is pleased to announce that it has staked a large exploration land position around the Imperial project ("Imperial" or "Project"). The newly staked claims ("new claims") extend from the operating Mesquite mine (currently owned by Equinox Gold Corp,TSXV: EQX) to the depleted Picacho mine over a 28 km trend with Imperial roughly equidistant between the two. The staked area is largely under-cover with minimal outcrop and has not been subject to modern exploration techniques.
Scott Trebilcock, President and CEO stated "KORE believes in the untapped exploration for new shallow oxide discoveries on the trend now controlled by KORE. We have several targets from past operators near Imperial but a vast majority is under-explored and has seen no modern exploration techniques." Mr. Trebilcock continued, "Having the intact Imperial deposit to tune our geophysical and chemical sensing will greatly enhance our ability to generate drill targets and make new discoveries."
The new claims are not subject to any royalties. The 1,005 new claims total 20,602 acres bringing KOREs total in the region to 26,323 acres, a 360% increase.
A map of the new claims is appended to this new release.
The trend, identified by a geophysical anomaly (gravity high), hosts greater than 7 million ounces of past production (Mesquite and Picacho) as well as current and historic reserves and resources of over 5 million ounces, for a total of over 12 million ounces of gold.
All new claims have been filed with Imperial County and the Bureau of Land Management.
KORE is 100% owner of a portfolio of advanced gold exploration and development assets in California and British Columbia. KORE is supported by strategic investors Eric Sprott and Macquarie Bank who, together with the management and Board own 66% of the basic shares outstanding. Further information on KORE and its assets can be found on the Company's website at www.koremining.com and at www.sedar.com, or by contacting us as [email protected] or by telephone at (888) 407-5450.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any KORE common shares in the United States.
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.
Cautionary Statement Regarding Adjacent Properties and Forward-Looking Information
This news release contains forward-looking statements relating to the future operations of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the future plans and objectives of the Company are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Such factors include, but are not limited to: uncertainties related exploration and development; the ability to raise sufficient capital to fund exploration and development; changes in economic conditions or financial markets; increases in input costs; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labor relations matters. This list is not exhaustive of the factors that may affect the Company's forward-looking information. Important factors that could cause actual results to differ materially from the Company's expectations also include risks detailed from time to time in the filings made by the Company with securities regulations.
The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.
SOURCE Kore Mining
For further information: Further information on KORE and its assets can be found on the Company's website at www.koremining.com and at www.sedar.com, or by contacting us as [email protected] or by telephone at (888) 407-5450.