Touchdown Resources Acquires Mineral Claims in Porcupine Mining Division, Ontario
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/16/12 -- Touchdown Resources Inc. (TSX VENTURE: TDW) (the "Company" or "TDW") is pleased to announce that it has entered into an agreement (the "Agreement") with an Arm's Length Party to purchase a 100% interest, (subject to a 2% NSR) in 4 mineral claims located in Semple and English Townships, Porcupine Mining Division, Ontario.
The northern "English Block" consists of 2 block claims (27 units) located approximately 9km north of the SGX discovery in Sothman Township. It covers 1080 acres or 432 hectares and straddles the Semple-English Township lines. It is approximately 50km south of the city of Timmins. The ground lies within 1.5km to the northwest of several significant gold occurrences that are situated within a similar geological environment.
The southern "Semple Block" is located just 1.5km north of the claim on which SGX Resources Inc. is currently conducting a sizeable drill program. It comprises 2 block mining claims (28 units) situated in the southwest corner of Semple Township and covers 1120 acres or 448 hectares.
Geological compilation of the area shows the 4 claim blocks to be underlain by generally east west striking felsic to intermediate and mafic to intermediate metavolcanic rocks.
Please visit for an area map of the new claims.
Pursuant to the terms of the Agreement, the Company must pay $5,000, and issue to the Vendor 300,000 common shares in the capital of TDW upon TSX Venture Exchange approval. One (1) % of the NSR may be repurchased by TDW, at its discretion, for CAD$1,000,000. The Company has also agreed to issue a maximum of 30,000 common shares in the capital of TDW as finder's fee, subject to the approval of the TSX Venture Exchange.
Company President Richard Macey stated: "We are extremely excited to have secured such a desirable land package in an area that has recently been generating so much interest and speculation. The Company is currently in negotiations to acquire more land in the immediate area of the new SGX discovery and plans for an aggressive sampling, IP and drill program on the new claims which are now top priority for the immediate future."
The Company has elected to terminate both its Argyle Property option agreement signed January 28, 2010 and its McFarlane Lake Property option agreement signed December 1, 2010. The Argyle extension is still of interest to the Company, and will remain in its portfolio.
On Behalf of the Board,
Touchdown Resources Inc.
Richard Macey, President
"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."
Contacts:
Touchdown Resources Inc.
Richard Macey
President
(604) 669-0401
(604) 669-0414 (FAX)
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 16.02.2012 - 14:00 Uhr
Sprache: Deutsch
News-ID 115565
Anzahl Zeichen: 0
contact information:
Town:
VANCOUVER, BRITISH COLUMBIA
Kategorie:
Mining & Metals
Diese Pressemitteilung wurde bisher 152 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Touchdown Resources Acquires Mineral Claims in Porcupine Mining Division, Ontario"
steht unter der journalistisch-redaktionellen Verantwortung von
Touchdown Resources Inc. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
