CALGARY, Oct. 17, 2017 /CNW/ - PRIZE MINING CORPORATION ("Prize" or the "Company") (TSXV:PRZ) (MQSP:GR:FRANKFURT) is pleased to announce it was issued an amended Mines Act permit from the Ministry of Energy, Mines and Petroleum Resources of BC authorizing mineral exploration activities on its Daylight Property.
Feisal Somji, chief executive officer of Prize commented: "We look forward to our much anticipated Daylight property drill program. The focus of the program will be on newly defined anomalous targets which have been prioritized from our summer surface exploration work. Historical producing mines on the property have returned grades as high as 37g/t gold, with 2017 grab samples returning as high as 9g/t gold. We are excited to follow up on these combined datasets with a discovery focused drill program. The Company is in a fully financed position and will be mobilizing in the short term."
The permit gives Prize the right to create up to 3km of access trails, 25 drill sites with sumps and 20 trenching sites. Prize has finalized contracts with Wade Critchlow Enterprises Ltd. of Salmo, BC to engage in all of its trenching activities, and Lucky Drilling Ltd. of Castlegar, BC for its drilling operations. Both companies are expected to mobilize this week.
The Company also anticipates receiving a similar mines permit in the near future for its Toughnut property which is contiguous to the Daylight claims.
Jarrod Brown, P.Geo., a Qualified Person under NI 43-101, has reviewed and approved the scientific and technical information in this news release.
About Prize Mining Corp.
Prize is a Calgary-based junior mining issuer with offices in Calgary, Alta., and is listed on the TSX Venture Exchange. Prize is engaged in the acquisition, exploration and development of mining properties.
