RJK OPTIONS ADDITIONAL BLACKWATER GOLD DISTRICT CLAIM GROUP, EAST BLACKWATER
GOLD, ADJOINING RICHFIELD'S PROPERTY
KIRKLAND LAKE, ON, Dec. 15 /CNW/ - RJK Explorations Ltd., (RJX.A: TSV) ("RJK") wishes to announce that it has entered into an additional property option agreement in the Blackwater Gold District whereby RJK can acquire an undivided 100% interest in 13 claims covering 5,612 hectares called the "East Blackwater Gold Property." The East Blackwater Gold Property is located in central British Columbia, approximately 100 km by road southwest of Vanderhoof. The optioned claims lie to the east and north and are contiguous to the Blackwater Gold Project of Richfield Ventures Corp. (RVC).
Drilling results from the Richfield Blackwater gold discovery have instigated the staking of the entire Nechako plateau area surrounding Richfield. This was triggered by a Richfield news release on Jan.5/2010 that announced - "The entire hole averaged 1.25 g/t Au over a sampled length of 329.2 metres from bedrock to the bottom of the hole." Recently, on Nov.23/2010, Richfield issued another news release with these drill results - "with 171 metres of 3.13 g/t Au, BW 91 is one of our best intersections to date and BW 90 extends the zone to the east, leaving it open in that direction."
Glenn Kasner President and CEO of RJK commented, we are delighted that RJK has acquired the East Blackwater Property and combined with the previously acquired West Blackwater Property, we now hold approximately 14,000 hectares of one of the larger close‐in land positions in the Blackwater Gold District of the prospective Nechako plateau.
RJK has contracted Fugro Airborne Surveys to conduct a closely spaced flight line heli‐borne magnetic and electromagnetic survey over both properties. It is anticipated that mobilization to site will begin this week.
To exercise the option on the East Blackwater Gold Property, the company must make cash, share and work commitments over a three year period totaling $60,000 cash ($15,000 on signing) 500,000 shares (150,000 on signing) and $500,000 in work commitments ($50,000 in year one). The property is also subject to a 2% net smelter return royalty, of which 1% may be purchased from the vendor for $1,000,000.
Forward Looking Statements: This news release contains or refers to forward-looking information. All statements, other than statements of historical fact, that address activities, events or developments that RJK believes, expects or anticipates will or may occur in the future are forward-looking information. Such forward-looking information includes statements contained in this news release regarding discussions in respect of a potential acquisition and funding arrangement and RJK's expectations regarding same and the trading of its shares on the TSX Venture Exchange. This forward-looking information reflects the current expectations or beliefs of RJK based on information currently available to it. Forward-looking information is subject to a number of risks and uncertainties that may cause the actual results of RJK to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, RJK. Factors that could cause actual results or events to differ materially from current expectations include, but are not limited to: the failure of RJK to enter into an agreement in respect of such arrangement; delays in obtaining or failure to obtain any required regulatory and/or shareholder approval; and other factors. Any forward-looking information speaks only as of the date on which it is made. Although RJK believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
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.
Web Site: http://www.rjkexplorations.com
For further information:
Glenn Kasner, President | Vancouver Office: |
Telephone: (705) 567‐5351 | James (604) 565-5967 |
Mobile: (705) 568‐7567 | [email protected] |
[email protected] |
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