International Samuel Exploration Corp. Acquires District-Scale Golden-Triangle Property; Contiguous 35km+ Claim Border with Antofagasta's US$31M Earn-In at Adjacent Ball Creek Project
Vancouver, British Columbia--(Newsfile Corp. - September 14, 2017) - International Samuel Exploration Corp. (TSXV: ISS) (FSE: RCF1) (OTC: ISSFF) (the "Company") is very pleased to announce that it has acquired the Mickey Davis Gold & Copper Property (the "Mickey Davis Project"), a district-scale exploration project located in British Columbia's Golden Triangle.
Highlights:
- Positions International Samuel Exploration Corp. as a leading Golden Triangle exploration junior.
- Transaction delivers a transformational four-fold increase in the Company's Golden Triangle land position, from 4,558 ha to 24,089 ha.
- Project shares more than 35km of contiguous claim boundaries with the Ball Project, in which global mining company Antofagasta has signed a US$31M earn-in option through Evrim Resources Corp.
- Significant exploration potential in a Volcanics setting.
- Gold, silver and copper mineralization previously identified on Project.
- Project is contiguous to Company's recently announced Lucifer Gold Project and less than 750m from the Hart Gold Project being advanced by Golden Ridge Resources Ltd.
- Over the past decade, more gold has been found in the Golden Triangle than any other mining camp worldwide.
"Having been part of Richfield Ventures' Blackwater discovery which was acquired by New Gold in 2011 for $550 million, we are once again tremendously excited by the early prospects of another emerging exploration camp within British Columbia. The Mickey Davis Project positions International Samuel Exploration Corp. as an upcoming exploration leader in the world-class Golden Triangle district. Combined with our recent acquisition of the Lucifer Gold Project, we believe that the Company is well positioned among the contenders for the next large gold discovery in the region," stated Conrad Swanson, Chairman of the Company.
Figure 1. International Samuel Location within the Golden Triangle of BC
About the Mickey Davis Project
The Mickey Davis Project consists of 22 mineral claims structured into two tenure blocks. The district-scale project comprises a total of 19,531.05 ha (approximately 48,242 acres).
Along with immediate and contiguous proximity to a number of mineral showings being explored by neighbouring companies, gold, silver and copper mineralization has also been historically identified on the Project in the early 1990's (Stow Resources Ltd., MINFILE No. 104G 200).
In addition to an extensive claim border with the Ball Project being advanced by Antofagasta and Evrim Resources Ltd. under a US$31M earn-in, the Mickey Davis Project is also contiguous with the Company's newly acquired Lucifer Gold Project (see Company news release dated August 22, 2017). The Mickey Davis Project also has close proximity to a number of other exploration projects, including that of Golden Ridge Resources Ltd. and their earn-in on Barrick Gold's Hank Project (see 88 Capital news release, 88 Capital and Golden Ridge Announce Closing of $5.24 Million Brokered Financing dated August 31, 2017).
The target environment at the Mickey Davis Project is a volcanics setting (Stuhini Group and Hazelton Group Volcanics) known to host mineralization elsewhere in the immediate area, as well as prospective contact points with the Jurassic Unconformity.
Immediate Exploration Plans
As previously noted, the Mickey Davis Project is located less than 750 meters from the Hank Gold Project, which is currently being drilled by Golden Ridge Resources Ltd. under an option from Barrick Gold. Consequently, the Company has been in discussions with service companies presently working on the Hank Gold Project for Golden Ridge Resources Ltd. with an objective to commence field and geophysical exploration on the Mickey Davis and Lucifer Gold Projects this fall.
The Company further intends to commence drilling within its significant land position in the Golden Triangle in 2018.
Terms of the Transaction
The Company is acquiring 100% of the Mickey Davis Project from arm's length parties in exchange for a cash payment of $100,000, the issuance of 12,000,000 common shares and the granting of a 2% net smelter return.
Qualified Person
Technical disclosure in this news release has been reviewed and approved by Derrick Strickland, a Qualified Person as defined by National Instrument 43-101.
