World-Class Precious Metals Private Mining Company Seeking Merger or Acquisition For Cash And Stock
Tickers:
Tags: #Mining
October 28, 2019 – – Vancouver – TheNewswire North American Gold & Silver Mining Ltd., a private gold mining and exploration company with 11 wholly-owned mineral mining claims, each with past-producing high-grade gold mines reported within each mineral mining claim, is seeking to be acquired for cash and stock from either; an experienced financial group with a public vehicle to take the private company public, or; a financially strong public mining group who will continue exploration and drilling programs to upgrade the reported gold tonnage of each gold mine, including the “A25, Hiller 25, Zeb 1-12, Whitedome”, with two 43-101 Technical Reports and the highest grades of gold in North America; from 15.5 grams up to 310 grams per tonne gold over 2 meters.
A25, HILLER 25, ZEB 1-12, WHITEDOME
Previously owned by Falconbridge Limited, the “A25, Hiller 25, Zeb 1-12, Whitedome” is comprised of an area totalling approximately 1,000 hectares and is located in British Columbia, Canada, on Vancouver Island, approximately 15 km northwest of the Village of Zeballos.
|
DRILL HOLE NUMBER |
FROM (m) |
TO (m) |
WIDTH (m) |
GRAMS PER TONNE |
OUNCES PER TONNE |
|
H84-01 |
18.7 |
19.7 |
1.0 |
15.5 |
0.45 |
|
H84-07 |
53.6 |
54.7 |
1.1 |
39.2 |
1.14 |
|
H84-17 |
58.0 |
59.0 |
1.0 |
18.2 |
0.53 |
|
H84-20 |
23.0 |
24.0 |
1.0 |
17.6 |
0.51 |
|
H85-24 |
15.0 |
16.0 |
1.0 |
210.0 |
6.12 |
|
16.0 |
17.0 |
1.0 |
409.5 |
11.93 |
|
|
H85-29 |
34.4 |
35.4 |
1.0 |
24.65 |
0.72 |
|
H85-30 |
13.0 |
14.0 |
1.0 |
87.0 |
2.54 |
Historical Values taken from Falconbridge Limited’s Diamond Drill Core
Assays (1984/85) from 15.5 grams up to 310 grams per tonne Gold over 2m
Falconbridge Limited Mineral Exploration Highlights
Falconbridge Limited explored the Mineral Claims over a 25 year period, initially for iron skarns and later for gold.
In 1984, a band consisting of 9 separate gold/magnetite-rich occurrences was found. The occurrences extend from the “A25, Hiller 25, Zeb 1-12, Whitedome” southeast for about 8 kilometers to the Zeballos area.
Later that year, Falconbridge Limited conducted further mineral exploration work consisting of:
–5.7 line-Km of grid cut and chained
–9 Ha geological mapping at 1:500
–3 Ha geological mapping at 1:2,500
–4.5 Km of ground magnetometer lines
–140 rock chip samples assayed
–6 meters of trenching blasted and mucked out
–1,531.58 meters (5,023.58ft) of BQ diamond drilling in 22 holes
From 15.5 grams up to 310 grams per tonne Gold over 2m
In 1985, the property was trenched and mapped. 10 fill-in diamond drill holes were completed totalling 957 meters (3,138.96ft). Falconbridge Limited stated the best intersection was from drill hole number H85-24, which returned an assay of 310 grams per tonne gold over 2m.
Falconbridge Limited reported that:
Of the 32 diamond drill holes completed to date, 16 intersected gold mineralization. Of those 16 holes, 7 holes returned assays from core samples ranging from 15.5 grams up to 310 grams per tonne gold over 2 meters.
Footwall Exploration Highlights
In 1987, Falconbridge Limited, optioned the property to Footwall Explorations Limited., who commenced an underground program in 1988.
The Directors of Footwall Explorations reported that their underground exploration and evaluation program consisting of drifting and raising to one of several high-grade diamond drill hole intersections confirmed previous high grade assays from diamond drill hole H85-24.
Sludge samples (drill cuttings) from the west side of the raise approximately 41-49 feet below the surface returned the following impressive values:
|
Sludge Samples Approx. 41-49 feet Below Surface |
Reported Values; Gold Ounces Per Tonne |
|
From 0 ft. to 4 ft. |
22.58 oz Gold per tonne |
|
From 4 ft. to 8 ft. |
10.38 oz Gold per tonne |
|
Total Average |
16.58 oz Gold per tonne |
Historical Values from Footwall Exploration’s Core Samples (1988)
Muck samples (broken rocks) from the zone returned values of 6.630 ounces of gold per tonne.
1989 Gold Prices; $400 USD per ounce
Although the property was owned by Falconbridge until 2005, Falconbridge terminated their exploration program in 1989, due to the low average gold price of $400 USD per ounce.
2006 National Instrument 43-101 Technical Report
After its acquisition in 2005, a National Instrument 43-101 Technical Report on the “A25, Hiller 25, Zeb 1-12, Whitedome” was written in 2006.
“With the mineralized zones, existing exploration data, good road access, and good exploration potential, the author believes the A25 Gold Project is a worthy mineral exploration target.”
– Brian Simmons, P. Eng., Report on the A25 Gold Project (2006)
2012 National Instrument 43-101 Technical Reports
A second National Instrument 43-101 Technical Report on the “A25, Hiller 25, Zeb 1-12, Whitedome” was written in 2012.
“It is the author’s professional opinion that this is a property of merit. Historical exploration has demonstrated the potential for gold and possibly copper mineralization. The magnetite may also have potential to be used in coal washing plants in British Columbia. The 2011 exploration program was successful in defining areas of coincident gold-copper values.”
-Stephen B. Butrenchuk, P. Geol., P. Geo., 43-101 Technical Report on the A25 Property (2012)
Mr. Butrenchuk continues:
“It is therefore recommended that a program of diamond drilling be done on the A25 property to further define the potential of the A25 zone and to evaluate the potential of the Esperanza zone”
Approved Drilling and Exploration Permit
The British Columbia Ministry of Energy and Mines approved a permit to conduct further exploration and 4,000 meters of diamond drilling on the “A25, Hiller 25, Zeb 1-12, Whitedome”: Mines Act Permit # MX-8-273
2020 – 2021 Phase One Exploration and Development Program on the A25 Gold Project
In 2020 and 2021, North American Gold and Silver Mining Ltd., will conduct a Phase 1 Exploration and Development Program inside and around the adit of the “A25, Hiller 25, Zeb 1-12, Whitedome”, with the objective of opening the adit to locate and sample the 32 Falconbridge Drill Holes.
View BC MinFILE Reports for A25 Gold Project:
Additional Properties
Located 800 metres east of the A25 main zone, the highest value reported was 20.73 grams per tonne gold from soil and chip samples over a width of 30 metres and a strike length of 170 metres.
View BC MinFILE Reports for Esperanza:
PILLARS OF BOAZ GOLD PROJECT
Located southeast of the “A25, Hiller 25, Zeb 1-12, Whitedome” and Esperanza, the Pillars of Boaz Gold Project consists of four mines; White Star, Prident, Golden Peak and IXL.
WHITE STAR (Pillars of Boaz)
Total historical production from 1,293 tonnes include 220,987 grams of gold, 92,531 grams of silver, 17,144 kilograms of lead with
1,563 kilograms of copper and 30 kilograms of zinc.
View BC MinFILE Reports for White Star (Pillars of Boaz):
PRIDENT (Pillars of Boaz)
Records show that historical production from 43 tonnes mined in 1939 averaged a grade of 128.7 grams per tonne gold. Records also show indicated and inferred reserves situated on both the Prident and Privateer total 122,470 tonnes grading 17 grams per tonne gold.
View BC MinFILE Reports for Prident (Pillars of Boaz):
GOLDEN PEAK (Pillars of Boaz)
The highest of six samples taken from Vein #3 assayed values of up to 202.3 grams per tonne gold.
Values taken from a sample from a heavy sulphide section of the #1 Vein, assayed 493.8 grams per tonne gold.
Historical inventory from recorded production consists of three tonnes mined in 1934, produced 93 grams of gold and 746 grams of silver.
View BC MinFILE Reports for Golden Peak (Pillars of Boaz):
IXL (Pillars of Boaz)
Historical assays from sampling returned values ranging from 2 to 2,953 grams per tonne gold, nil to 816 grams per tonne silver.
View BC MinFILE Reports for IXL (Pillars of Boaz):
Adjacent to the Pillars of Boaz Gold Project, historical estimates from recorded production totaled 9465 kilograms of gold and 4119 kilograms of silver from 652,000 tonnes of ore. Records also show indicated and inferred reserves situated on both the Prident and Privateer total 122,470 tonnes grading 17 grams per tonne gold.
View BC MinFILE Reports for Privateer:
Recorded production in 1939 produced 93 grams of gold from 1 tonne.
View BC MinFILE Reports for Major:
A sample of oxidized material from the richest part of the vein assayed 13.7 grams per tonne gold.
View BC MinFILE Reports for Nootka:
Assays between 2.7 and 113.8 grams per tonne gold are reported.
View BC MinFILE Reports for Lucky Strike:
A sample across about 90 centimetres of vein yielded 2,880.02 grams per tonne silver.
View BC MinFILE Reports for Norma:
Additional details about each property are available on the company website:
http://www.northamericangoldsilver.com
About North American Gold & Silver Mining Ltd.
North American Gold and Silver Mining Ltd. is led by talented professionals with significant exploration, engineering, project finance, and permitting experience. The company is focused on exploring and developing its properties including the “A25, Hiller 25, Zeb 1-12, Whitedome”, located on Vancouver Island B.C., 15 km northwest of the Village of Zeballos. Records show that, of the 32 diamond drill holes completed to date, 16 intersected gold mineralization and of those, 7 diamond drill holes returned assays from core samples ranging from 15.5 grams to 310 grams per tonne gold.
The British Columbia Ministry of Energy and Mines approved a permit to conduct further exploration and 4,000 meters (13,120ft) of diamond drilling on the “A25, Hiller 25, Zeb 1-12, Whitedome”: Mines Act Permit # MX-8-273.
Cautionary Note Concerning Forward-Looking Information
This press release contains forward-looking information. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding the closing of the Financing) are forward-looking information. This forward-looking information reflects the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking information is subject to a number of risks and uncertainties that may cause the actual results of the Company 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 the Company. Forward-looking information speaks only as of the date on which it is provided and, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. Although the Company 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 information due to the inherent uncertainty therein.
For more information, please contact:
D. Amar,
President & CEO
On behalf of the Board of Directors of North American Gold & Silver Mining Ltd.
North American Gold & Silver Mining Ltd.
715 West 68th Avenue Vancouver, British Columbia
V6P 2T8 Canada
Toronto: 416-971-6422
Vancouver: 604-909-2466
Direct: 647-588-4367
Email: [email protected]
Web: http://www.northamericangoldsilver.com
Copyright (c) 2019 TheNewswire – All rights reserved.
