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TSXV: SGU | OTCQB: SGGTF | FSE: 3S3
Signature Resources Expands Gold Mineralization With Ongoing Initial Resource Estimation Development Work
Toronto, Ontario, August 30, 2022, Signature Resources Ltd. (TSXV: SGU, OTCQB: SGGTF, FSE: 3S3) ("Signature" or the "Company") is pleased to update progress on its NI 43-101 initial resource estimation effort for our 100%-owned Lingman Lake Gold Project in northern Ontario, Canada.
Initial resource enhancement. Further to the previously issued update, over the course of working with Wood Canada Limited (“Wood”), and Watts, Griffis, and McQuat Limited (“WGM”), the Company had identified a low-cost opportunity to capture additional data to increase the quantity and quality of the geologic knowledge of the deposit underpinning the development of an initial resource estimate via an enhanced sampling and assay program.
New gold zones identified. As a result, the Company embarked on a campaign of the additional sampling and assaying of a limited number of drill holes between the existing high-grade gold shear zones (“Intra-Zone”). Out of 30 holes sampled, 7 holes have newly identified low-grade mineralization and a number of higher-grade shoots. Intercept widths ranged from 1.0 to 2.0 metres. (See Table 1). Sampling was over 1.0 metre intervals.
These newly sampled intervals collectively aimed to:
Identify gold mineralization between the previously identified zones where no assaying had been conducted historically (See Figure 1).
Collect and add new data to the geology database to aid and expand the geologic understanding and resource model.
Demonstrate the potential for an expanded initial resource estimate by identifying the presence of a broader mineralized, near-surface, gold system beyond the extents of the existing high-grade zones.
Improve the continuity of existing gold zones by filling gaps in the geologic database and resource model (See Figure 2).
“The work from Wood, WGM, and our team continues to significantly advance the understanding of the Lingman Lake project and the contained gold system. Initial intra-zone sampling results identifying a broader mineralized gold system from additional sampling between the previously identified zones is directionally positive for the mineralized volume, scale of potentially contained ounces, and quality of the developing initial resource estimate targeted for H2/2022. We are very pleased with these results as this new information underpins the ongoing development of a more robust gold system than previously understood.”
Robert Vallis, President, CEO, and Director
Expanding Mineralization within the Geological Footprint. Based on the results of the sampling program, the Company expects that, when incorporated into Wood’s ongoing initial resource modelling, the data will enhance the quantity and quality of the initial resource estimate. This additional knowledge gained from the sampling program will better inform future exploration work and points to the need for further sampling between areas of known mineralization. The Company has aligned its procedures with respect to assay and data collection with CIMVal standards and best practices.
Poised for Further Resource Expansion. In anticipation of future drilling at the Lingman Lake Project, the Company advanced the development of camp infrastructure during 2021. Much of the work done during that period provides a degree of insulation from rising costs and supply issues in the exploration sector. Onsite exploration work, including drilling, can be started in a timely manner. The Company has two 100%-owned diamond drills onsite along with an initial inventory of drilling consumables to support up to 10,000 metres of drilling. As the current drill extents of the Lingman Lake Project are shallow averaging about 200 metres downhole, a follow up drill program could capture an opportunity to materially grow the resource.
Additional Sampling and Assaying 'between' the existing high-grade gold zones
Figure 1 - Additional Sampling and Assaying "between" the existing high-grade gold zones
Sample section demonstrating new low-grade intervals expanding gold mineralization and improving continuity
Figure 2 - Sample section demonstrating new low-grade intervals expanding gold mineralization and improving continuity
Selected sampling results between the existing gold zones
Table 1 - Selected sampling results between the existing gold zones
Insiders have recently exercised options in support of the Company’s continued efforts to add value to shareholders.
About Signature
The Lingman Lake Project consists of 1,434 staked claims, four freehold fully patented claims and 14 mineral rights patented claims totaling approximately 27,113 hectares. The property includes what has historically been referred to as the Lingman Lake Gold Mine, an underground substructure consisting of a 126.5-metre shaft, and 3-levels at 46-metres, 84-metres and 122-metres depths.
To find out more about Signature Resources Ltd., visit our website at www.signatureresources.ca, or contact:
Investor Relations
(416) 840-6345
info@signatureresources.ca
Cautionary Notes
Neither the 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 news release.
This news release contains forward-looking statements which are not statements of historical fact. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions and risks associated with infectious diseases, including COVID-19. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to changes in general economic and financial market conditions, failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Signature Resources Ltd.
401 Bay Street?Suite 2704,
Toronto, ON M5H 2Y4
info@signatureresources.ca
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TSXV: SGU | OTCQB: SGGTF | FSE: 3S3
Signature Resources Announces Closing Of Oversubscribed Private Placement And Engagement Of Wood Canada To Complete The Initial Mineral Resource Estimate For Q2/22
Toronto, Ontario, March 9, 2022, Signature Resources Ltd. (TSXV: SGU, OTCQB: SGGTF, FSE 3S3) ("Signature" or the "Company") is pleased to announce that due to strong demand, it has closed an over- subscribed non-brokered private placement (the “Offering”). Pursuant to the Offering previously announced in press releases on February 15 and 25, 2022, the Company has issued 19,692,335 non-flow- through shares (the “NFT Shares”) and 18,082,800 flow-through shares (the “FT Shares”) for aggregate gross proceeds of C$2,447,336.10. Each NFT Share was issued at a price of C$0.06 and each FT Share was issued at a price of C$0.07. The Company paid finder’s fees of C$8,261.40 and issued 137,690 finder warrants exercisable at C$0.10/share for a period of 12 months from closing. All securities issued in the Offering are subject to a statutory hold period ending July 10, 2022, and the Offering is subject to final acceptance of the TSX Venture Exchange.
“This financing is designed to allow the Company to complete an initial NI 43-101 mineral resource estimate for our 100%-owned Lingman Lake Gold Project. We are undertaking this effort to determine the potential scale of the currently drilled mineralization at Lingman Lake and provide further guidance for focusing our 2022 exploration work planned for later this year.”
Robert Vallis, President, CEO, and Director
The net proceeds from the Offering will be used for the mineral resource estimate and related deposit characterization, ongoing exploration data compilation and general corporate purposes.
Signature Resources Selects Wood Canada Limited (formally Amec):
Signature is also pleased to announce it has engaged the services of Wood Canada Limited (“Wood”), formerly Amec Foster Wheeler, to complete the previously announced initial NI 43-101 mineral resource estimate for the Lingman Lake Gold Project. Work has commenced with Wood and is expected to be completed late Q2 2022.
Management Long-Term Incentive Options:
As part of its commitment to a performance-based compensation plan, the Company has reserved for grant to certain senior management of the Company, 12,000,000 incentive stock options to acquire common shares in the capital of the Company at an exercise price of $0.08 and vesting over three (3) years (the "Options"). Granting of the Options will be subject to certain key performance indicators being met and an annual review by the Board of Directors of the Company. In addition, the grant of these Options is subject to compliance with the limitations under the Company’s Option Plan, which limits the number of options to 10% of the issued and outstanding shares of the Company.
About Signature
The Lingman Lake gold property consists of 1,434 staked claims, four freehold fully patented claims and 14 mineral rights patented claims totaling approximately 27,113 hectares. The property includes what has historically been referred to as the Lingman Lake Gold Mine, an underground substructure consisting of a 126.5-metre shaft, and 3-levels at 46-metres, 84-metres and 122-metres depths. There has been over 28,000 metres (177 drill holes) of historical drilling done on the Property.
To find out more about Signature Resources Ltd., visit our website at www.signatureresources.ca, or contact:
Donna McLean
Chief Financial Officer
416.642-1807 Ext. 307
info@signatureresources.ca
Cautionary Notes
Neither the 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 news release.
This news release contains forward-looking statements which are not statements of historical fact. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions and risks associated with infectious diseases, including COVID-19. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to changes in general economic and financial market conditions, failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company discla ims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Signature Resources Ltd.
401 Bay Street—Suite 2704,
Toronto, ON M5H 2Y4
info@signatureresources.ca
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TSXV: SGU | OTCQB: SGGTF | FSE: 3S3
Signature Resources Continues Extending Mineralized Zones to Depth; Drills 6.64 g/t Gold Over 3 Metres; Including 18.5 g/t Over 1.0 Metres at Its Lingman Lake Project
Toronto, Ontario, December 8, 2021 Signature Resources Ltd. (TSXV: SGU, OTCQB: SGGTF, FSE 3S3) ("Signature" or the "Company") is pleased to announce the most recent set of drilling results from its recently started 10,000 metre diamond drill program at our 100% owned Lingman Lake Gold Project in Ontario, Canada using our two owned diamond drill rigs. This batch of five diamond drill holes successfully expands the known zones of mineralization both up dip and to depth on the eastern portion of the deposit located east of the diabase dyke (See Figure 2).
Drilling highlights:
6.64 grams-per-tonne gold (“g/t Au”) over 3.0 metres (“m”) in LM21-26; including 18.5 g/t Au over 1.0 m
6.97 g/t Au over 2.0 metres in LM 21-25
“We are pleased with these drill results as they test and extend the mineralized zones east of the diabase dyke to depth that is approaching 250-metre vertical. High grade gold values in plunging shoots continue to be intersected along notable widths characterized by alteration zones of intense silicification, local brecciation and shearing. Additional assays from completed diamond drilling are expected shortly. It is important to highlight that the induced polarization data is being interpreted and show several new targets areas east, south and north of the known zones.”
Walter Hanych – Head Geologist
The current 10,000-metre drill program up to and including LM21-30 is testing grade and continuity of the plunging mineralized high-grade shoots and overall mineralized North, South, and Central zones. The focus is below the 400 level, down dip/plunge target drilling with 30-metre to 50-metre step outs and to a maximum depth of approximately 350-metres below surface.
Table 1 – Latest batch of Assay Results from Lingman Lake Gold Project Drilling
Latest batch of Assay Results from Lingman Lake Gold Project Drilling
Figure 1 – Lingman Lake Gold Project Land Holdings Covering 90% of the Lingman Lake Greenstone Belt
Lingman Lake Gold Project Land Holdings Covering 90% of the Lingman Lake Greenstone Belt
Figure 2 – Lingman Lake Gold Project Plan Map – Drilling Focused on Extending Known Zones to Depth
Lingman Lake Gold Project Plan Map – Drilling Focused on Extending Known Zones to Depth
Figure 3 - Diamond Drill Hole Plan Map – Extending Known Zones to Depth
Diamond Drill Hole Plan Map – Extending Known Zones to Depth
Figure 4 – Longitudinal North Zone Depth Extension Targets of Plunging Mineralization
Longitudinal North Zone Depth Extension Targets of Plunging Mineralization
About Signature
The Lingman Lake gold property consists of 1,434 staked claims, four freehold fully patented claims and 14 mineral rights patented claims totaling approximately 27,113 hectares. The property hosts an historical estimate of 234,684 oz of gold* (1,063,904 tonnes grading 6.86 g/t with 2.73 gpt cut-off) and includes what has historically been referred to as the Lingman Lake Gold Mine, an underground substructure consisting of a 126.5-metre shaft, and 3-levels at 46-metres, 84-metres and 122-metres depths.
*This historical resource estimate is based on prior data and reports obtained and prepared by previous operators, and information provided by governmental authorities. A Qualified Person has not done sufficient work to verify the classification of the mineral resource estimates in accordance with current CIM categories. The Company is not treating the historical estimate as a current NI 43-101 mineral resource estimate. Establishing a current mineral resource estimate on the Lingman Lake deposit will require further evaluation, which the Company and its consultants intend to complete in due course. Additional information regarding historical resource estimates is available in the technical report entitled, "Technical Report on the Lingman Lake Gold Property" dated January 31, 2020, prepared by John M. Siriunas, P.Eng. and Walter Hanych, P.Geo., available on the Company's SEDAR profile at www.sedar.com
To find out more about Signature Resources Limited, visit our website at www.signatureresources.ca, or contact:
Donna McLean
Chief Financial Officer
416.417.8349
info@signatureresources.ca
Cautionary Notes
Neither the 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 news release.
This news release contains forward-looking statements which are not statements of historical fact. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions and risks associated with infectious diseases, including COVID-19. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to changes in general economic and financial market conditions, failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Signature Resources Ltd.
401 Bay Street—Suite 2704,
Toronto, ON M5H 2Y4
info@signatureresources.ca
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TSXV: SGU | OTCQB: SGGTF | FSE: 3S3
Signature Resources Identifies Eight New Regional Gold Exploration Targets from Completed Airborne Survey
Toronto, Ontario, November 30, 2021. Signature Resources Ltd. (TSXV: SGU, OTCQB: SGGTF, FSE 3S3) ("Signature" or the "Company") is pleased to announce the geophysical interpretation of the recently completed airborne VLF magnetic survey. Work done to date from the 2021 survey produced eight new gold exploration targets of high-interest which results in a total of 15 regional exploration targets (when combined with the targets identified from the 2018 airborne survey - See Figure-1).
Highlights
15 total regional exploration targets of high interest identified
Merged magnetic surveys of 2018 and 2021 supports more complete contextual regional targeting
Magnetic data from the completed survey work reveals that the Lingman Greenstone belts has undergone several periods of folding and faulting producing favorable environments for gold deposition now including Sedimentary basin margins
“Signature’s Regional exploration program continues to yield exciting results and furthering the potential for additional gold discoveries within our large land package. The rich geologic structure of the Lingman greenstone belt is revealing several areas of high interest for gold deposition. Target ranking for prioritization is currently underway and will result in selecting our top-three regional explorations targets to begin next-stage ground-based survey work this winter. In parallel, the ongoing 10,000 metre diamond drilling at the Lingman Lake Gold Project designed to expand the known envelope of gold mineralization are expected in the coming weeks.”
Robert Vallis – President, CEO, and Director
Regional Exploration Advancements
Initial targeting brings target total to 15-anomalous zones (A to O – Figure 1) based on Reconstructed Total Field and First Derivative Magnetic maps. Target areas for gold mineralization selection is based on:
Structurally complex zones defined in magnetic data and historic data compilation
Regional-scale folds and faults interpreted from the data
Lithological boundaries
Priority target ranking is currently being conducted on the targets identified by airborne Very Low Frequency Electromagnetic data (VLF-EM) obtained in the 2018 and 2021 surveys flown. Winter follow-up in Q1 2022 of the top three targets by ground geophysics including magnetic and electromagnetic surveys is planned. Winter permitting applications for top three targets for summer drill testing will follow the priority target finalization.
Figure 1. Airborne Very Low Frequency Electromagnetic data (VLF-EM) obtained in the 2018 and 2021
Figure 1
Qualified Person
The scientific and technical content of this press release has been prepared, reviewed, and approved by Mr. Walter Hanych, P. Geo., who is a Qualified Person under NI 43-101 regulations and is a director of the Company.
About Signature
The Lingman Lake gold property consists of 1,434 staked claims, four freehold fully patented claims and 14 mineral rights patented claims totaling approximately 27,113 hectares. The property hosts an historical estimate of 234,684 oz of gold* (1,063,904 tonnes grading 6.86 grams-per-tonne (“g/t”) gold using a 2.73 g/t gold cut-off) and includes what has historically been referred to as the Lingman Lake Gold Mine, an underground substructure consisting of a 126.5-metre shaft, and 3-levels at 46-metres, 84-metres and 122-metres depths.
*This historical resource estimate is based on prior data and reports obtained and prepared by previous operators, and information provided by governmental authorities. A Qualified Person has not done sufficient work to verify the classification of the mineral resource estimates in accordance with current CIM categories. The Company is not treating the historical estimate as a current NI 43-101 mineral resource estimate. Establishing a current mineral resource estimate on the Lingman Lake deposit will require further evaluation, which the Company and its consultants intend to complete in due course. Additional information regarding historical resource estimates is available in the technical report entitled, "Technical Report on the Lingman Lake Gold Property" dated January 31, 2020, prepared by John M. Siriunas, P.Eng. and Walter Hanych, P.Geo., available on the Company's SEDAR profile at www.sedar.com
To find out more about Signature Resources Limited, visit our website at www.signatureresources.ca, or contact:
Donna McLean
Chief Financial Officer
416.417.8349
info@signatureresources.ca
Cautionary Notes
Neither the 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 news release.
This news release contains forward-looking statements which are not statements of historical fact. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions and risks associated with infectious diseases, including COVID-19. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to changes in general economic and financial market conditions, failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Signature Resources Ltd.
401 Bay Street?Suite 2704,
Toronto, ON M5H 2Y4
info@signatureresources.ca
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TSXV: SGU | OTCQB: SGGTF | FSE: 3S3
Signature Resources Confirms Near-Surface Strike Extensions Up To 500 Metres East From Existing Mineralized Zones
Toronto, Ontario, November 3, 2021. Signature Resources Ltd. (TSXV:SGU, OTCQB:SGGTF, FSE:3S3) ("Signature" or the "Company") is pleased to announce that it has found historical near-surface (<100 metre depth) drill data from ongoing compilation work. The historical drilling has confirmed signific ant East strike extensions to the existing North and Central mineralized zones. This historical data compilation work underpins several of the six newly-identified drill targets identified at the 100%-owned Lingman Lake Project from the recently-completed magnetic and IP geophysical surveys (See Figure 1).
Highlights
historical shallow test drilling:
7.54 g/t over 0.5 metres
6.18 g/t over 0.6 metres
Data essentially doubles the strike length of the existing North and Central gold zones
Test drilling of these new zones to commence mid-November focused on:
the new strike extensions to re-establish the existing zones on strike and thickness and
the new gold zone targets to the north and south of the existing zones and their associated east strike extensions
“The plethora of historical regional and local data that the Signature’s exploration team is working through, continues to yield exceptional and valuable results. This data is highly important when combined with the new geophysical survey data sets, in the identification and verification of significant gold mineralization strike extensions and entirely new zone drill targets. The data implies that the existing gold zones that contain the 234,000 ounce historical high-grade gold resource* could be vastly expanded. Test drilling will commence at these new target areas around mid-November once the depth extension drilling is complete”.
Robert Vallis – President, CEO, and Director
North and Central Zone Extensions
Geophysical interpretation of the recently-completed detailed ground magnetic survey has extended the North and Central zones eastward past the Mud Lake fault for more than 500 metres (See Figure 1). Most of the shallow historical test drilling on the Lingman Lake gold zones occurred west of this fault. The detailed magnetic survey suggests that this fault cuts all the known gold zones with a right lateral displacement of 50 to 60 metres. The new magnetic survey linear targets associated with the Lingman Lake Gold zones continue eastward from this fault. This interpretation has been corroborated by the historical shallow drilling, the locations of which have only recently been established.
New North Targets
This is potentially a new zone which was intersected by several historical drill holes including 7.54 g/t over 0.5 metres and 6.18 g/t over 0.6 metres. These values span over a kilometre in strike length occurring along the north edge of the new magnetic survey linear target, a feature that also exists in the Lingman Mine area (Figure 1: Targets FNZ-1 and 2). Compilation of the historical drilling near the north area of the historical mine workings area is ongoing and will support test drilling of this target (located immediately north of the existing North zone).
New South Targets
A strong correlation of the Lingman Lake Gold zones with the edges of magnetic linears is evident, which provides for the targeting of new linear targets and potentially the discovery of new gold zones in the southeast quadrant of the map (Figure 1: FSZ-1, 2, 3, 4 and 5).
An aggressive drill program is being designed to test all the above targets along a 625-metre north-south fence. Approximately 5-6 holes totaling 1,000 metres will be drilled in the coming weeks.
New High-Grade Surface Sample Location
Ongoing geographic information system (“GIS”) compilation work has positioned the location of historical surface sampling including one of which assayed 6.86 g/t Au. The sample site is located 160 metres south of Base Lake and coincides with two new subparallel magnetic linear targets; the southern target correlating to a Very Low Frequency Electromagnetic (“VLF”) survey target that is over 1,000-metres in length (Figure 1: targets BL1 and BL2). Drill testing of this area is planned for early 2022, pending further interpretive data analysis.
Ongoing Depth Extension Drilling
Extension drilling (around the clock, seven days a week) beneath the existing underground workings and historical resource down to ~250-300 metres continues on schedule and drill results will continue to be published, as they become available, from the assay lab.
Figure 1. Compilation map. First vertical derivative of anomalous total filed showing magnetic linear targets.
Figure 1. Compilation map. First vertical derivative of anomalous total filed showing magnetic linear targets.
Qualified Person
The scientific and technical content of this press release has been prepared, reviewed, and approved by Walter Hanych, P. Geo., who is a Qualified Person under NI 43-101 regulations and is a director of the Company.
About Signature
The Lingman Lake gold property consists of 1,434 staked claims, four freehold fully patented claims and 14 mineral rights patented claims totaling approximately 27,113 hectares. The property hosts an historical estimate of 234,684 oz of gold* (1,063,904 tonnes grading 6.86 g/t with 2.73 gpt cut-off) and includes what has historically been referred to as the Lingman Lake Gold Mine, an underground substructure consisting of a 126.5-metre shaft, and 3-levels at 46-metres, 84-metres and 122-metres depths.
*This historical resource estimate is based on prior data and reports obtained and prepared by previous operators, and information provided by governmental authorities. A Qualified Person has not done sufficient work to verify the classification of the mineral resource estimates in accordance with current CIM categories. The Company is not treating the historical estimate as a current NI 43-101 mineral resource estimate. Establishing a current mineral resource estimate on the Lingman Lake deposit will require further evaluation, which the Company and its consultants intend to complete in due course. Additional information regarding historical resource estimates is available in the technical report entitled, "Technical Report on the Lingman Lake Gold Property" dated January 31, 2020, prepared by John M. Siriunas, P.Eng. and Walter Hanych, P.Geo., available on the Company's SEDAR profile at www.sedar.com. To find out more about Signature Resources Limited, visit our website at www.signatureresources.ca, or contact:
Donna McLean
Chief Financial Officer
416.417.8349
info@signatureresources.ca
Cautionary Notes
Neither the 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 news release.
This news release contains forward-looking statements which are not statements of historical fact. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions and risks associated with infectious diseases, including COVID-19. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to changes in general economic and financial market conditions, failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Signature Resources Ltd.
401 Bay Street?Suite 2704,
Toronto, ON M5H 2Y4
info@signatureresources.ca
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Signature Resources Drills 5.44 G/T Over 6 Metres; Including 17.20 G/T Over 1.0 Metres At Its Lingman Lake Project
TSXV: SGU | OTCQB: SGGTF | FSE: 3S3
Signature Resources Drills 5.44 g/t Over 6.0 Metres; Including 17.20 g/t Over 1.0 Metre at Its Lingman Lake Project
Toronto, Ontario, October 20, 2021. Signature Resources Ltd. (TSXV: SGU, OTCQB: SGGTF, FSE: 3S3) ("Signature" or the "Company") is pleased to announce its first four assay results from its recently-commenced 10,000-metre diamond drill program at Signature's 100%-owned Lingman Lake Gold Project in Ontario, Canada. Signature is using its own diamond drill rigs to advance exploration on this batch of drilling which was designed to test mineralization while expanding the known zone of mineralization to depth, east of the diabase dyke. Importantly, once the geophysics are fully processed, drilling will also test the six newly-identified targets at the Lingman Lake Gold project, discussed in our last press release dated October 14, 2021.
Drilling highlights:
6.47 g/t Au over 3.0 metres (“m”) in LM21-19; including 13.80 g/t Au over 1.0 m
5.44 g/t Au over 6.0 m in LM21-20; 17.2 g/t Au over 1.0 m and 7.76 g/t over 1.0 m
“Three of the first four drill holes intersected the North Zone as expected extending the existing mineralization to depth. The system is strong, displays significant high grade Au values over substantial core intervals. As the fully-funded drilling extends to deeper levels of the North Zone, extension drilling will also be intersecting and extending to depth the Central, South and 11650 zones.”
Robert Vallis – President, CEO, and Director
The planned drill program up to and including LM21-26 will be testing inter-level grade and continuity of the plunging mineralized shoots. The focus is the North Zone below the 400 level, down dip/plunge target drilling with 30-metre to 50-metre step outs for holes LM21-27 to 34. The deepest hole planned (LM21-31) is targeting the North Zone, approximately 322 metres below surface.
In the process of extension drilling the North Zone to depth, the Central, South and 11650 zones will also be intersected and are expected to extend proportionally. Drilling of the newly-identified target areas East, North and South of the existing depth extension drilling will commence in November. LM21-19 was designed to test inter-level grades between the 150 level and 275 level. LM21-20, 21 and 23 were collared to test the North Zone above the 150L (Figures 2,3 & Table 1).
Figure 1 – Lingman Lake Gold Project Land Holdings Covering 90% of the Lingman Lake Greenstone Belt
Lingman Lake Gold Project Land Holdings Covering 90% of the Lingman Lake Greenstone Belt
Figure 2 – Lingman Lake Gold Project Plan Map – Drilling Focused on Extending Known Zones to Depth
Lingman Lake Gold Project Plan Map – Drilling Focused on Extending Known Zones to Depth
Figure 3 - Diamond Drill Hole Plan Map – Extending Known Zones to Depth
Diamond Drill Hole Plan Map - Extending Known Zones to Depth
Table 1 – Diamond Drill Hole Assay Results Summary
Diamond Drill Hole Plan Map - Extending Known Zones to Depth
About Signature
The Lingman Lake Gold Property consists of 1,434 staked claims, four freehold, fully-patented claims and 14 mineral rights patented claims totaling approximately 27,113 hectares. The property hosts an historical estimate of 234,684 oz of gold* (1,063,904 tonnes grading 6.86 g/t with 2.73 gpt cut-off) and includes what has historically been referred to as the Lingman Lake Gold Mine, an underground substructure consisting of a 126.5-metre shaft, and 3-levels at 46-metres, 84-metres and 122-metres depths.
*This historical resource estimate is based on prior data and reports obtained and prepared by previous operators, and information provided by governmental authorities. A Qualified Person has not done sufficient work to verify the classification of the mineral resource estimates in accordance with current CIM categories. The Company is not treating the historical estimate as a current NI 43-101 mineral resource estimate. Establishing a current mineral resource estimate on the Lingman Lake deposit will require further evaluation, which the Company intends to complete in due course. Additional information regarding historical resource estimates is available in the technical report entitled, "Technical Report on the Lingman Lake Gold Property" dated January 31, 2020, prepared by John M. Siriunas, P.Eng. and Walter Hanych, P.Geo., available on the Company's SEDAR profile at www.sedar.com
To find out more about Signature Resources Limited, visit our website at www.signatureresources.ca, or contact:
Donna McLean
Chief Financial Officer
416.417.8349
info@signatureresources.ca
Cautionary Notes
Neither the 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 news release.
This news release contains forward-looking statements which are not statements of historical fact. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions and risks associated with infectious diseases, including COVID-19. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to changes in general economic and financial market conditions, failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Signature Resources Ltd.
401 Bay Street—Suite 2704,
Toronto, ON M5H 2Y4
info@signatureresources.ca
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Toronto, Ontario, August 23, 2021. Signature Resources Ltd. (TSXV: SGU, OTCQB: SGGTF, FSE 3S3) ("Signature" or the "Company") is pleased to announce an update on all site activities including the geophysical data programs and project site drill preparation being conducted at its 100% owned Lingman Lake Gold Project (“Project”) located in Northwestern Ontario.
Highlights:
The planned 10,000 meter fall drill program remains on schedule to commence around mid-September despite a challenging summer.
Delays with the summer activities related to the extensive summer wildfires and smoke in surrounding regions have subsided and no longer hamper site activities.
Previously announced geophysical programs are progressing rapidly:
Property-wide airborne LIDAR program has been completed
Lingman site 3D Induced Polarization (“IP”) data program is ~60% completed and is expected to be completed by mid-late September (in time for drilling)
Property-wide airborne geophysics program is underway and scheduled to be completed in early September
Newly analyzed historical information in the on-going compilation of the Lingman Lake Greenstone belt has generated a conceptual exploration model for the 40-mineral occurrences located at the west end of the belt.
Site expansion and enhancements supporting the upcoming expanded drilling campaign continue to advance and are scheduled to be largely completed by late September.
“Signature has successfully progressed its Project on all fronts throughout this summer despite incurring some delays that were caused by wildfires in the region and I am proud of the whole Signature team for what they have been able to accomplish. The Project remains on target to commence drilling around mid-September.”
Robert Vallis – President, CEO, and Director
The late summer schedule is focused on completing various site and regional geophysical data collection programs, and several camp expansion/enhancement tasks to prepare for the next scheduled expanded drill campaign.
Wildfire-related government restrictions have now been lifted. The month of July and into early August saw delays incurred at the Project related to the significant wildfires and smoke from unprecedented and extreme drought conditions that hampered and threatened the entire regions of western and northwest Ontario into and throughout Manitoba, Saskatchewan, and south into the northern United States. A resulting restriction of all industrial forestry/logging operations and certain mineral field exploration and mining-related activities was put into effect by the Ministry of Northern Development, Mines, Natural Resources and Forestry (“NDMNRF”).
The NDMNRF restriction delayed the Company’s in-progress 3D IP data collection program. However, ~60% of the planned survey was completed before this restriction was imposed and that data has been processed on a first-pass basis, resulting in a preliminary interpretation of the dataset. This interpretation will be released in the coming weeks. The smoke in and around the regional property presented challenges and delays to commencing and completing the previously-noted regional airborne and project ground geophysical and site expansion activities. Site access was also challenged due to the secondment of regional air equipment for supporting provincial firefighting operations and emergency evacuations throughout many communities in western Ontario and eastern Manitoba.
During the NDMNRF imposed restriction period, the Company successfully implemented several site risk mitigations including:
a substantial fire break-barrier around the entire project site perimeter
installation of fire suppression systems in specific areas throughout the camp
staged existing site equipment/supplies in safe zones at site
staged new equipment/supply deliveries off-site in secure locations
insurance contracts have been augmented for larger Project scope
With wildfire delays and related challenges abated, the Company continues to advance all planned site and regional activities responsibly and rapidly towards drilling around mid-September.
About Signature
The Lingman Lake gold property consists of 1,434 staked claims, four freehold full patented claims and 14 mineral rights patented claims totaling approximately 27,113 hectares. The property hosts an historical estimate of 234,684 oz of gold* (1,063,904 tonnes grading 6.86 g/t with 2.73 gpt cut-off) and includes what has historically been referred to as the Lingman Lake Gold Mine, an underground substructure consisting of a 126.5-meter shaft, and 3-levels at 46-meters, 84-meters and 122-meters depths.
*This historical resource estimate is based on prior data and reports obtained and prepared by previous operators, and information provided by governmental authorities. A Qualified Person has not done sufficient work to verify the classification of the mineral resource estimates in accordance with current CIM categories. The Company is not treating the historical estimate as a current NI 43-101 mineral resource estimate. Establishing a current mineral resource estimate on the Lingman Lake deposit will require further evaluation, which the Company and its consultants intend to complete in due course. Additional information regarding historical resource estimates is available in the technical report entitled, "Technical Report on the Lingman Lake Gold Property" dated January 31, 2020, prepared by John M. Siriunas, P.Eng. and Walter Hanych, P.Geo., available on the Company's SEDAR profile at www.sedar.com
To find out more about Signature Resources Limited, visit our website at www.signatureresources.ca, or contact:
Donna McLean
Chief Financial Officer
416-417-8349
This Company has matured into a real World Class Organization..
Signature Resources Announces CFO Appointment
Signature Resources Ltd. (TSXV: SGU, OTCQB: SGGTF, FSE 3S3) ("Signature" or the "Company") is pleased to announce the appointment of Donna McLean as Chief Financial Officer ("CFO") of Signature, effective immediately. The appointment of Ms. McLean is key in positioning Signature's Management to successfully lead the Company's continued growth with efficiency and effectiveness.
Jonathan Held has stepped down from the CFO position to pursue other interests but will remain for a duration to ensure a smooth and complete transition. Mr. Held, CPA, CA is a seasoned financial executive with CFO level experience with both private and public companies. He has held the position of CFO and Director of Signature for over eight years from its inception and has been integral to Signature's successful growth as a highly valued member of the Company's management team.
Donna McLean is an accomplished executive with over 30 years of financial reporting and corporate administration. Ms. McLean has served as Chief Financial Officer and Controller for numerous publicly traded and private companies including a number of mineral exploration companies. She serves as Manager, Accounting Services with Grove Corporate Services Ltd. (www.grovecorp.ca) that provides governance, accounting and administrative services to small-cap public and private companies in Canada. Ms. McLean also serves as Chief Financial Officer for Unigold Inc., Firestone Ventures Inc. and Avidian Gold Corp. Ms. McLean will be joined by Ms. Sarah Morrison, Chief Operating Officer, Grove Corporate Services, who will be assuming the role of Corporate Secretary for the Company.
"Sarah and I are delighted to be adding Signature to our quality resource-based client stable. We believe they are poised for sustainable growth and exploration success, and we look forward to bringing our corporate services support to the team with the mutual aim of unlocking the value of the Lingman Lake Gold Camp for shareholders."
Donna McLean - CFO
"I am very pleased to welcome Donna into the CFO role. Her skill set, successful track record, and professionalism position her as a key member of Signature's management team. I look forward to working closely with her to continue the successful growth of the Company and its value delivery to shareholders. It is a bittersweet task to wish Jonathan well with his new undertakings. Signature has been blessed with his dedication, skill, discipline, and attention to detail and the CFO transition process shall continue to benefit from this. He has been and will remain, a highly respected and cherished member of Signature's family. We sincerely wish him well."
Robert Vallis - President, CEO, and Director
About Signature
The Lingman Lake gold property consists of 1,434 staked claims, four free hold full patented claims and 14 mineral rights patented claims totaling approximately 27,113 hectares. The property hosts an historical estimate of 234,684 oz of gold* (1,063,904 tonnes grading 6.86 g/t with 2.73 gpt cut-off) and includes what has historically been referred to as the Lingman Lake Gold Mine, an underground substructure consisting of a 126.5-meter shaft, and 3-levels at 46-meters, 84-meters and 122-meters depths.
*This historical resource estimate is based on prior data and reports obtained and prepared by previous operators, and information provided by governmental authorities. A Qualified Person has not done sufficient work to verify the classification of the mineral resource estimates in accordance with current CIM categories. The Company is not treating the historical estimate as a current NI 43-101 mineral resource estimate. Establishing a current mineral resource estimate on the Lingman Lake deposit will require further evaluation, which the Company and its consultants intend to complete in due course. Additional information regarding historical resource estimates is available in the technical report entitled, "Technical Report on the Lingman Lake Gold Property" dated January 31, 2020, prepared by John M. Siriunas, P.Eng. and Walter Hanych, P.Geo., available on the Company's SEDAR profile at www.sedar.com
To find out more about Signature Resources Limited, visit our website at www.signatureresources.ca, or contact:
Signature Resources Improves Independence & Corporate Governance With Changes To Its Board Of Directors And Advisory Board
Toronto, Ontario, August 4, 2021. Signature Resources Ltd. (TSXV: SGU, OTCQB: SGGTF, FSE 3S3) ("Signature" or the "Company") is pleased to announce the addition of three new Board of Director (the “Board”) members and one new Advisory Board member. Lisa Davis, John Hayes, and Dan Denbow have been appointed to the Board. Concurrently, Jonathan Held and Walter Hanych will be stepping down from the Board. John Hayes and Dan Denbow previously held positions on Signature’s Advisory Board and bring with their respective backgrounds a valuable understanding and awareness of the Company’s ongoing strategic planning and related activities. In addition, Priya Patil will be joining the Company’s Advisory Board. All these changes are designed to improve the Company’s independence, diversification and corporate governance that will strengthen Signature’s future growth capabilities.
The Company would like to particularly thank Mr. Held and Mr. Hanych for their long-standing service on the Board of Directors and their valuable contributions to Signature’s successes.
“I am honoured and pleased that Signature was able to attract such talented and experienced industry titans to join our team. Their proficiency, oversight and guidance should position the Company well for the next leg of exploration growth with the aim of unlocking the value of the Lingman Lake Gold Camp for shareholders.”
Paolo Lostritto, P.Eng – Chairman
Lisa Davis brings to Signature’s board significant perspective from the industry as the Chief Executive Officer of Peartree Securities Inc., a boutique financing and advisory firm focused on the junior Canadian resource sector. Drawing on the in-depth knowledge of securities regulation gained in part while on secondment to the Ontario Securities Commission Lisa is also responsible for the legal and compliance aspects of the firm's business as well as for PearTree Financial Services Ltd., the originator and leading provider of flow through donation financing services in Canada. Prior to joining Peartree, Lisa was General Counsel for a specialized investment fund business with more than $3B in assets under administration. A graduate of Osgoode Hall Law School, Lisa was a partner at Fraser Milner Casgrain LLP (currently Dentons) where she specialized in corporate and securities law. Lisa has earned the ICD.D designation from the Institute of Corporate Directors and has served as a Director of the Prospectors & Developers Association of Canada (PDAC) as well as a member of the PDAC’s Executive Committee and co-chair of the Finance & Taxation Committee of the PDAC.
John Hayes is a professional geologist with over 20 years of exploration, and many years of capital markets experience. John worked for ten years in mining equity research at BMO Capital Markets and at the time of his retirement in 2014 was a managing director covering global precious and base metal companies as they advanced projects from exploration to production. Most recently, John served in senior roles at Pretium Resources and Osisko Mining. He is currently a Director and Chairman of Maritime Resources Corp. John graduated from Memorial University of Newfoundland with an Honours Bachelor of Science in Geology (1989) and a Master of Science in Geology (1997). He also holds an MBA from Dalhousie University (2003) and is a member (P. Geo.) of the Professional Engineers and Geoscientists Newfoundland and Labrador.
Dan Denbow has spent over 28 years in the capital markets with his most recent experience associated with USAA Investment Management Company. As a portfolio manager for USAA Dan was responsible for managing over US$4 billion in three strategies: a domestic dividend and global dividend strategy and the USAA Precious Metals and Minerals Fund. Dan and his team have received eight Lipper Fund awards, six Lipper Fund Achievement certificates, a TopGun Investment Mind award in 2018 from Brendan Wood International, and the USAA Precious Metals Fund was named the “Fund of the Decade” for the ten-year period ending 2009. The USAA Precious Metals and Minerals Fund focused on selection of gold mining securities with a relative value ranking adjusting for risk based on factors including asset quality, management quality, and balance sheet quality. Dan holds an MBA from Texas Christian University, Neeley School of Business and is a CFA charter holder.
Priya Patil has more than 20 years’ experience in building and leading businesses in mining and financial services in Canada, the U.S. and India. Priya has held strategy, corporate development and governance roles. She served as General Counsel of a multi-mine zinc/copper producer operating in multiple countries; Global Head of Diversified Industries at Toronto Stock Exchange; Managing Director and Head of Investment of Banking at two national investment banks and as an attorney in Canada and Palo Alto, California. Priya serves and has served as a director and Audit/Compensation Committee Chair of public natural resources companies listed on the TSX and the AIM Exchange of the LSE. Priya was chosen as a Canada Board Diversity Council – 2017 Diversity 50 Honoree. Priya is passionate about education and economic development. Priya is a member of the California and Ontario bars; holds her J.D. and B.Sc. (Statistics and Computer Sciences) and earned her ICD.D charter from Rotman School of Management.
Stock Options
The Company has also granted a combined total of 1,600,000 incentive stock options to the incoming Board and Advisory Board members as a result of their appointments. The options shall have an exercise price of $0.16, expire five years from the date of issuance, and shall vest 25% immediately, and 12.5% ever six months thereafter through to the third anniversary.
TSXV: SGU | OTCQB: SGGTF | FSE: 3S3
Signature Resources Initial West Zone Drilling Outlines A 200-Metre Wide Structural-Alteration Corridor With One Metre Intercepts Of 6.0 g/t And 7.2 g/t From Wide Space Drilling
Toronto, Ontario, July 21, 2021. Signature Resources Ltd. (TSXV: SGU, OTCQB: SGGTF, FSE 3S3) ("Signature" or the "Company") is pleased to announce the results of its 15-hole (3,260-metre) drill program at its 100% owned Lingman Lake Gold Project (“Project”). This initial step-out drill program was designed to test a strong alteration and structural deformation zone (West Zone) which in the past (see press release dated November 5, 2018) produced assays as high as 13.65 g/t gold over 5.0 metres and 12.15 g/t gold over 9.50 metres (drill holes 18-02 and 18-01, respectively). Drilling identified a 200-metre corridor that is interpreted to be similar to the Lingman Lake gold mineralization found to the east. A three-dimensional Induced Polarization (“IP”) survey is currently being conducted on the Project and is more than 70% compete. The results from this program will help fingerprint the mineralization and help vector H2/21 drilling (~10,000-metres) to trace the extent of the mineralized zone.
Highlights:
The corridor characterized by a structural complex zone of brittle-ductile deformation, variable, quartz veining, sulphide mineralization and alteration of the West Zone was extended beyond the 150-metre depth to vertical depths exceeding 300-metres with variable gold mineralization contained throughout the wide spaced drilling.
Step out drill hole intercepts, along strike and down dip of the host structure, appear to have defined a variably west plunging (60 to 75-degree) structural corridor up to 200-meters in width from surface to approximately 330-meter vertical depth.
Depth potential of this corridor remains open.
The corridor exhibits structural and alteration features that are consistent with the high-grade intercepts of past drilling above 150-metre vertical. Current drilling which delineated this corridor ended up testing less than 20% of this down plunge extent.
A new zone (WEST SOUTH) located 20 to 30-metres south of the West Zone may have significant exploration potential.
The Central Zone intersected in holes 21-03, 05 and 08, occurs over a 200-metre strike length west of the north-south striking dike.
Drill hole 21-08 intersected 1.78 g/t gold over 8.0-metres, at a vertical depth of 280-metres in the West South Zone.
Drill hole 21-09 intersected 2.00 g/t gold over 7.0-metres, at a vertical depth of 327-metres in the West Zone.
Drill hole 21-18 intersected 1.34 g/t gold over 7.0-metres, at a vertical depth of 311.0-meteres in the West Zone.
A property wide LIDAR survey has been completed. This survey will produce products that will enhance surface and bedrock features to assist in target selection for the summer’s prospecting program.
A high resolution Magnetic and Matrix Very Low Frequency Electromagnetic (VLF) survey is scheduled to flown over the new claims this summer.
“The reconnaissance drill program has outlined a target area plunging 200-metre-wide in the West Zone. We are looking forward to the results of the 3D Induced Polarization survey which will further vector drilling expected to commence in the second half of 2021. Drilling is planned to be conducted with two diamond drill rigs.”
Walter Hanych – Head Geologist, and Director
**Cautionary note: The property hosts a historical estimate of 234,684 oz of gold* (1,063,904 tonnes grading 6.86 g/t with 2.73 gpt cut-off) inclusive of the West Zone containing a historical estimate of 109,215 tonnes grading 7.54 g/t. The quantity reported as Historical estimate is historic in nature. The issuer is not treating the Historical estimate as a current resource estimate. A qualified person has not done sufficient work to classify the Historical estimate as a current resource estimate.
Geology and Diamond Drill hole Details (see Exhibits 1,2,3 and 4):
The West Zone occurs along a 450-metre strike length and is the continuation of the North Zone west of the north-south diabase dike. Overall, the combined zones occur along approximately 1,100-metres of strike. The current drill program tested a 290-metre strike portion of the West Zone, which is a complex structural-alteration zone of variable sulphide mineralization, silica and carbonate alteration, brittle-ductile deformation, and variable gold distribution. Thirty-two recent and historical drill intercept lengths within the plunging corridor range from 0.3 to 9.54-metres, the average being 5.0-metres, while grade composite intervals range from 0.2 to 22.6 g/t gold. Fifteen of these intervals are ≥5.0 g/t gold, and 6 are ≥10.0 g/t gold.
The plunging corridor above the 150-meter level has been intersected by 26-holes, and by 6 holes below this level. The target area below this level is outlined in Exhibit – 4.
Geophysical and LIDAR Survey:
To update on exploration; a 3D IP survey is 70% complete. The survey is designed to cover and test the response of the Lingman Lake gold zones to chargeability and resistivity. The survey covers the mine environment and beyond over a strike length of 2,400-metres. It will reach depths of 500-metres potentially capturing the fingerprint of the zones providing target vectoring for the next stage of drilling.
The property wide LIDAR survey has been completed, covering an area of approximately 27,113-hectares. This survey will enhance surface and bedrock features such as structure and folding to assist in target selection for this summer’s prospecting programs.
During the summer, the high resolution magnetic and Matrix VLF survey will be flown over the new ground acquired in 2020 and 2021. This survey, covering 17,602-hectares will tie into the 2018 survey and provide property wide Magnetic and VLF data. This data will compliment to the LIDAR survey to assist with target identification and selection for future follow-up programs.
Exhibit 1 – Drill hole collar data
Exhibit 2 - Summary highlights of 2021 drilling
Exhibit 3 – Compilation map and 2021 drill plan
Exhibit 4 – Simplified Longitudinal Section West Zone
Qualified Person
The scientific and technical content of this press release has been prepared, reviewed and approved by Mr. Walter Hanych, P. Geo., who is a Qualified Person under NI 43-101 regulations and is a director of the Company.
About Signature
The Lingman Lake gold property consists of 1,434 staked claims, four free hold full patented claims and 14 mineral rights patented claims totaling approximately 27,113 hectares. The property hosts an historical estimate of 234,684 oz of gold* (1,063,904 tonnes grading 6.86 g/t with 2.73 gpt cut-off) and includes what has historically been referred to as the Lingman Lake Gold Mine, an underground substructure consisting of a 126.5-meter shaft, and 3-levels at 46-meters, 84-meters and 122-meters depths.
*This historical resource estimate is based on prior data and reports obtained and prepared by previous operators, and information provided by governmental authorities. A Qualified Person has not done sufficient work to verify the classification of the mineral resource estimates in accordance with current CIM categories. The Company is not treating the historical estimate as a current NI 43-101 mineral resource estimate. Establishing a current mineral resource estimate on the Lingman Lake deposit will require further evaluation, which the Company and its consultants intend to complete in due course. Additional information regarding historical resource estimates is available in the technical report entitled, "Technical Report on the Lingman Lake Gold Property" dated January 31, 2020, prepared by John M. Siriunas, P.Eng. and Walter Hanych, P.Geo., available on the Company's SEDAR profile at www.sedar.com
To find out more about Signature Resources Limited, visit our website at www.signatureresources.ca , or contact:
Jonathan Held
Chief Financial Officer
416-270-9566
Cautionary Notes
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 news release.
This news release contains forward-looking statements which are not statements of historical fact. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions and risks associated with infectious diseases, including COVID-19. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to completion of the IP, LIDAR and VLF surveys, changes in general economic and financial market conditions, failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Signature Resources Ltd.
366 Bay Street?Suite 200,
Toronto, ON M5H 4B2
info@signatureresources.ca
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8:00a ET 6/24/2021 - Globe Newswire
Signature Resources Announces Appointment of Rickardo Welyhorsky as COO & Provides Lingman Lake Project Update
Signature Resources Ltd. (TSXV: SGU, OTCQB: SGGTF, FSE 3S3) ("Signature" or the "Company") is pleased to announce the appointment of Rickardo Welyhorsky as Chief Operating Officer ("COO") of Signature. The appointment of Mr. Welyhorsky will be key in advancing Signature Resources preparation for the most recently announced increase in drilling, site logistics and operations.
Rickardo Welyhorsky is a seasoned mining professional with over 28 years of experience spanning all levels of project development, engineering, construction and operations in the mining and metals industry. He recently joined Signature in February this year as advisor to the board and since has progressively taken on a consultation role with Signature assisting in the planning and advancement towards the next level of drilling programs and site operations.
Mr. Welyhorsky brings to Signature a wealth of industry experience from various roles globally including with Yamana Gold, Detour Gold, Barrick Gold, and AMEC. Mr. Welyhorsky has held key roles in the study, development and construction of many world-class gold mining operations including Yamana Gold's Cerro Moro mine and Detour Gold, Barrick's Buzwagi mine and DeBeers Victor Diamond Mine. Mr. Welyhorsky has also held management positions at several Canadian open pit and underground operations and was most recently Mine General Manager at the Pure Gold Mine in Red Lake, Ontario, Canada where he was successful at taking the project into operations. Mr. Welyhorsky holds a Bachelor of Engineering degree from Laurentian University in Metallurgical Engineering and is a registered Professional Engineer in the Province of Ontario.
"I am extremely excited to join Signature Resources as COO and to be at the forefront of the now ongoing and future progressively advancing drilling programs as a leading contributor of the expansionary development of Signature Resources large land package. I believe we are in the midst of an emerging new Canadian gold district. I am honored to be part of the rapid growth of this asset and Company and to work with this high-caliber team to unlock the wealth within our boundaries so that our northern communities and shareholders see the benefit from years to come."Rickardo Welyhorsky - COO"I am excited and very pleased to have Rickardo on board as COO of Signature. His incredible depth and breadth of experience with project management and execution is indeed "world-class". His skills and leadership enable our already exceptional operations team to move to and execute at higher levels necessary to accelerate and sustain the growth of our resources and unlock our vast regional gold discovery potential."Robert Vallis - President, CEO, and Director
Stock Options
The Company has also granted 2,250,000 incentive stock options to Mr. Welyhorsky following his appointment. The options shall have an exercise price of $0.16, expire five years from the date of issuance, and shall vest 25% immediately, and 12.5% ever six months thereafter through to the third anniversary.
Project Updates
Signature is pleased to announce its continued progress at site with:
About Signature
The Lingman Lake gold property consists of 1,434 staked claims, four free hold full patented claims and 14 mineral rights patented claims totaling approximately 27,448 hectares. The property hosts an historical estimate of 234,684 oz of gold* (1,063,904 tonnes grading 6.86 g/t with 2.73 gpt cut-off) and includes what has historically been referred to as the Lingman Lake Gold Mine, an underground substructure consisting of a 126.5-meter shaft, and 3-levels at 46-meters, 84-meters and 122-meters depths.
*This historical resource estimate is based on prior data and reports obtained and prepared by previous operators, and information provided by governmental authorities. A Qualified Person has not done sufficient work to verify the classification of the mineral resource estimates in accordance with current CIM categories. The Company is not treating the historical estimate as a current NI 43-101 mineral resource estimate. Establishing a current mineral resource estimate on the Lingman Lake deposit will require further evaluation, which the Company and its consultants intend to complete in due course. Additional information regarding historical resource estimates is available in the technical report entitled, "Technical Report on the Lingman Lake Gold Property" dated January 31, 2020, prepared by John M. Siriunas, P.Eng. and Walter Hanych, P.Geo., available on the Company's SEDAR profile at www.sedar.com.
To find out more about Signature Resources Limited, visit our website at www.signatureresources.ca, or contact:
Signature Resources Announces $3.5 Million Non-Brokered Private Placement Led by Commodity Discovery Fund, Funds Managed by Sprott Asset Management Lp & Crescat Capital
Not for distribution to U.S. news wire services or dissemination in the United States
Toronto, Ontario, June 21, 2021. Signature Resources Ltd. (TSXV: SGU, OTCQB: SGGTF, FSE 3S3) ("Signature" or the "Company") is pleased to announce, subject to the approval of the TSX Venture Exchange, a non-brokered private placement of flow-through units (the ”FT Units”) and non-flow-through units (the “NFT Units”) for gross proceeds of up to C$3,500,000 (the “Offering”). Commodity Discovery Fund (“CDF”) out of the Netherlands has agreed to lead participation in the financing. This new interest from CDF was further bolstered by additional support from existing shareholders including funds Managed by Sprott Asset Management LP and Crescat Capital.
Each FT Unit is being offered at a price of C$0.165 and will be comprised of one common share of the Company and one-half non flow-through common share purchase warrant (a “FT Warrant”) with an exercise price of C$0.25 per FT Warrant. Concurrently, NFT Units will be offered at a price of $0.16 per NFT Unit consisting of one common share and one-half common share purchase warrant (a “NFT Warrant”) with an exercise price of C$0.22 per NFT Warrant. Both the FT Warrants and the NFT Warrants expire two-years following the closing date of the Offering.
The net proceeds from the Offering will be used for general corporate purposes but primarily used to expand the current exploration efforts focused on the Lingman Lake Gold Project (the “Project”). The Company now controls approximately 90% of the Lingman Lake greenstone belt in Northwestern Ontario, Canada.
“The Commodity Discovery Fund is a Dutch-based fund that seeks investment opportunities in new discoveries with a tier 1 potential, where early positions in undervalued companies are taken that are most likely to get taken over by producing companies seeking to replenish their reserves. The Signature project provides for precisely this outlook, in a known mining region hosting deposits with an interesting geological signature and mineralization. We feel the Signature Resources management team will be able to draw on its vast experience in order to advance the projects in order to create value for investors.”
Commodity Discovery Fund CEO Willem Middelkoop
“We are incredibly pleased to welcome Commodity Discovery Fund as our newest cornerstone investor. We aim to further bolster their performance track record of generating significant returns through an expanded drill campaign at the Lingman Lake Gold Project. Just as important, we greatly appreciate the additional support from existing shareholders. Long lead time items have been secured with a focus on positioning, de-risking, and executing an expanded exploration program to deliver value to shareholders.”
Robert Vallis – President, CEO, and Director
Project Updates
Signature is pleased to announce that it has secured a second Signature-owned diamond drill rig, continuing the expansion and de-risking of drilling capabilities. Signature is securing an expanded drill crew and has initiated securing the required camp optimizations to enable an upscaled targeted 10,000 metre diamond drill program commencing late August. Work has commenced on previously announced geophysical programs to optimize local and regional targeting. Normin Engineering continues to work on converting the existing dataset at the Project in preparation for completing our maiden NI 43-101 compliant resource estimate in 2022.
This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful. These securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States or to U.S. persons unless registered or exempt therefrom.
About Signature
The Lingman Lake gold property consists of 1,434 staked claims, four free hold full patented claims and 14 mineral rights patented claims totaling approximately 27,448 hectares. The property hosts an historical estimate of 234,684 oz of gold* (1,063,904 tonnes grading 6.86 g/t with 2.73 gpt cut-off) and includes what has historically been referred to as the Lingman Lake Gold Mine, an underground substructure consisting of a 126.5-meter shaft, and 3-levels at 46-meters, 84-meters and 122-meters depths.
*This historical resource estimate is based on prior data and reports obtained and prepared by previous operators, and information provided by governmental authorities. A Qualified Person has not done sufficient work to verify the classification of the mineral resource estimates in accordance with current CIM categories. The Company is not treating the historical estimate as a current NI 43-101 mineral resource estimate. Establishing a current mineral resource estimate on the Lingman Lake deposit will require further evaluation, which the Company and its consultants intend to complete in due course. Additional information regarding historical resource estimates is available in the technical report entitled, "Technical Report on the Lingman Lake Gold Property" dated January 31, 2020, prepared by John M. Siriunas, P.Eng. and Walter Hanych, P.Geo., available on the Company's SEDAR profile at www.sedar.com
To find out more about Signature Resources Limited, visit our website at www.signatureresources.ca, or contact:
Jonathan Held
Chief Financial Officer
416-270-9566
Cautionary Notes
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 news release.
This news release contains forward-looking statements which are not statements of historical fact. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions and risks associated with infectious diseases, including COVID-19. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to completion of the IP, LIDAR and VLF surveys, changes in general economic and financial market conditions, failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Signature Resources Ltd.
366 Bay Street—Suite 200,
Toronto, ON M5H 4B2
7:49a ET 6/7/2021 - Globe Newswire
Signature Resources Intersects 14.90 g/t Gold Over 1.0 Metre and 5.81 g/t Gold Over 6.0 Metres at the Lingman Lake Gold Project
Signature Resources Ltd. (TSXV: SGU, OTCQB: SGGTF, FSE 3S3) ("Signature" or the "Company") is pleased to announce the first three diamond drill holes (515 metres) of its ongoing 15 diamond drill hole (3,260 metres) winter-spring drill campaign at its 100% owned Lingman Lake Gold Project ("Project"). Drilling was designed to expand the known envelope of mineralization on the western side of the diabase dike (Exhibit 1). The Company expects several batches of diamond drill hole assay results to be released over the coming four to six weeks.
Highlights:
"We are incredibly pleased that the team successfully intersected and expanded the Lingman Lake West Zone of mineralization. Drilling continues to expand both strike and depth potential and remains open to further drilling. These three holes highlight strong geological-alteration and structural features conducive to gold mineralization. We believe we have good potential to expand the West Zone's historical estimate** and look forward to the next batch of results which is expected to be ready in the coming weeks. Nordmin Engineering continues to work on converting the historical estimate to NI 43-101 compliance in conjunction with a maiden NI 43-101 resource within the next 18 months. The upcoming geophysical surveys will help us to plan the next phase of drilling during the upcoming summer program."
Robert Vallis - President, CEO, and Director
**Cautionary note: The property hosts a historical estimate of 234,684 oz of gold* (1,063,904 tonnes grading 6.86 g/t with 2.73 gpt cut-off) inclusive of the West Zone containing a historical estimate of 109,215 tonnes grading 7.54 g/t. The quantity reported as Historical estimate is historic in nature . The issuer is not treating the Historical estimate as a Current resource estimate. A qualified person has done sufficient work to classify the Historical estimate as a Current resource estimate.
Geology and Diamond Drill hole Details (see Exhibits 1 and 2):
Drill hole 21-03 intersected the West Zone from 211.0-metres to 243.0-metres. The best intervals returned 1.74 g/t over 4.0-metres from 217.0-metres to 221.0-metres and sub-grade values from 233.0-metres to 237.0-metres. This wide intercept of 32.0-metres displays West Zone style attributes of intermittent silicification, structure and sulphide mineralization The West Zone intercept highlights that at a vertical depth of 182.0-metres the system is strong and pervasive.
In addition, 21-3 intersected the Central Zone from 52.0-metres to 58.0-metres. Two intercepts one from; 119.0-metres to 120.0-metres returned 7.52 g/t and the other from 155.0-metres to 159.0-metres returned 4.16 g/t which includes 1.0-metre of 14.90 g/t. The interpretation of these intersections is pending.
Drill hole 21-15 intersected 5.81 g/t over 6.0-metres including 12.2 g/t over 1.0-metre at a vertical depth of about 80-metres. The hole was drilled in a 100-metre section of no drilling between hole 18-01 which assayed 12.15 g/t over 9.5-metres and 89-16 which assayed 4.1 g/t 6.6-metres. Significantly the core interval continued to display variable intensity of silicification with sulphide mineralization and structure typical of the West Zone.
An earlier intercept in this hole from 66.0-metres to 70.0-metre of sub-grade values correlates with the West Zone splay, located about 24-metres south of the West Zone.
Additionally, drill hole 21-02 intersected 1.78 g/t over 2.0-metres at a vertical depth of about 82-metres and at a lateral distance of 105-metres east from the West Zone mineralization envelope, and about 40-metres west of the post-mineralization diabase dike. The West Zone which occurs from 107.0-metres to 113.0-metres has an atypical feature of sold quartz vein from 107.0-metres to 113.0-metres. In the interval 107-meteres to 109-metres, the zone exhibits its usual characteristics of silicification pyrite and pyrrhotite mineralization and fault gouge.
In summary, these three holes highlight that the West Zone has strong geological-alteration and structural features conducive to gold mineralization. Pending results will further add to developing a solid base for future resource drilling.
Geophysical and LIDAR Survey:
To update on upcoming exploration; a 3D induced polarization survey is on schedule to commence June 14. The survey is designed to cover the Lingman Lake gold zone over the mine environment and beyond over a strike length of 2,400-metres. The survey will reach depths of 500-metres. This survey will capture resistivity and chargeability associated with the Lingman Lake gold zones providing specific target areas for the next stage of drilling.
Furthermore, at about the same time, the property wide LIDAR survey should commence and cover an area of approximately 27,113-hectares. This survey will enhance surface and bedrock features such as structure and folding to assist in target selection for this summer's prospecting programs.
During the summer, the high Resolution magnetic and Matrix VLF survey will be flown over the new ground acquired in 2020 and 2021. This survey, covering 17,602-hectares will tie into the 2018 survey and provide property wide Magnetic and VLF data. This data will compliment to the LIDAR survey to assist with target identification and selection for future follow-up programs.
Graphics accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/5fa4d5d0-ddd7-4fdf-8c20-21b98da9da4e
https://www.globenewswire.com/NewsRoom/AttachmentNg/347d5293-afc9-47ec-b0ad-6dedb951f674
https://www.globenewswire.com/NewsRoom/AttachmentNg/eba47ce4-249a-4e5f-87b5-89ce1d273de3
About Signature
The Lingman Lake gold property consists of 1,434 staked claims, four free hold full patented claims and 14 mineral rights patented claims totaling approximately 27,113 hectares. The property hosts an historical estimate of 234,684 oz of gold* (1,063,904 tonnes grading 6.86 g/t with 2.73 gpt cut-off) and includes what has historically been referred to as the Lingman Lake Gold Mine, an underground substructure consisting of a 126.5-meter shaft, and 3-levels at 46-meters, 84-meters and 122-meters depths.
*This historical resource estimate is based on prior data and reports obtained and prepared by previous operators, and information provided by governmental authorities. A Qualified Person has not done sufficient work to verify the classification of the mineral resource estimates in accordance with current CIM categories. The Company is not treating the historical estimate as a current NI 43-101 mineral resource estimate. Establishing a current mineral resource estimate on the Lingman Lake deposit will require further evaluation, which the Company and its consultants intend to complete in due course. Additional information regarding historical resource estimates is available in the technical report entitled, "Technical Report on the Lingman Lake Gold Property" dated January 31, 2020, prepared by John M. Siriunas, P.Eng. and Walter Hanych, P.Geo., available on the Company's SEDAR profile at www.sedar.com
To find out more about Signature Resources Limited, visit our website at www.signatureresources.ca , or contact:
Jonathan Held
Chief Financial Officer
416-270-9566
8:30a ET 5/11/2021 - Globe Newswire
Signature Resources Increases its Land Position to 90% of the Lingman Lake Greenstone Belt and Provides Update on Drilling and Assaying Status From 2021 Lingman Lake Drill Program
Signature Resources Ltd. (TSXV: SGU, OTCQB: SGGTF, FSE 3S3) ("Signature" or the "Company") is pleased to announce it has acquired an additional 45 claims (720 hectares) along the Southern contact of the Lingman Lake Greenstone Belt. The acquisition increases Signature's land position to over 90% of the Lingman Lake Greenstone belt.
"With the addition of these 45 claims, Signature continues to enhance the huge district scale potential of its 100% owned Lingman Lake land package. Signature's Lingman Lake property now encompasses over 90% of the entire Lingman Lake Greenstone Belt and the all-important Greenstone contact margin. We continue to look forward to commencing regional and targeted exploration programs to assess this vast potential in the Spring and Summer."
Walter Hanych - Head Geologist, Director
A map property showing the acquisition of the claims relative to the Company's existing Lingman Lake property is presented below.
https://www.globenewswire.com/NewsRoom/AttachmentNg/ca6520d9-19da-487b-8cab-7fd6da4b8d05
Terms of Acquisition
Pursuant to the terms of the asset purchase agreement to acquire the additional 45 claims (the "Agreement"), Signature shall pay the vendor $8,000 in cash and issue the vendor 200,000 common shares in the capital of the Company at a deemed issue price of $0.20 per common share. The Agreement remains subject to final approval by the TSX Venture Exchange.
Project Update
The previously announced 2021 drilling campaign being conducted at the Lingman Lake property is over 50% drilled and advancing towards completion rapidly. Signature has delivered its first two assay sample batches to the lab in April and is shipping a third early this week. These samples represent approximately the first 40% of the drilling targeting the first 200 metres of strike to the West of the diabase dike feature. Signature is excited about the data these results will provide with respect to significantly extending the scale of the known mineralization to the west. All the assay results from the first three batches of drilling are expected to be received mid to late this month.
A map property showing the 2021 drill campaign relative to the zones west of the dike is presented below.
https://www.globenewswire.com/NewsRoom/AttachmentNg/4dae8deb-cbd6-4500-8480-012cf1dca94f
About Signature
The Lingman Lake gold property consists of 1,434 staked claims, four free hold full patented claims and 14 mineral rights patented claims totaling approximately 27,113 hectares. The property hosts an historical estimate of 234,684 oz of gold* (1,063,904 tonnes grading 6.86 g/t with 2.73 gpt cut-off) and includes what has historically been referred to as the Lingman Lake Gold Mine, an underground substructure consisting of a 126.5-meter shaft, and 3-levels at 46-meters, 84-meters and 122-meters depths.
*This historical resource estimate is based on prior data and reports obtained and prepared by previous operators, and information provided by governmental authorities. A Qualified Person has not done sufficient work to verify the classification of the mineral resource estimates in accordance with current CIM categories. The Company is not treating the historical estimate as a current NI 43-101 mineral resource estimate. Establishing a current mineral resource estimate on the Lingman Lake deposit will require further evaluation, which the Company and its consultants intend to complete in due course. Additional information regarding historical resource estimates is available in the technical report entitled, "Technical Report on the Lingman Lake Gold Property" dated January 31, 2020, prepared by John M. Siriunas, P.Eng. and Walter Hanych, P.Geo., available on the Company's SEDAR profile at www.sedar.com
4:30p ET 4/15/2021 - Globe Newswire
Signature Resources Launches New Website, Moon Patrol Corporate Video & VRIFY Online Corporate Presentation
Signature Resources Ltd. (TSXV: SGU, OTCQB: SGGTF, FSE 3S3) ("Signature" or the "Company") is pleased to completed several new initiatives that were designed to help investors understand the scope of our 100% Lingman Lake Gold Project. These tools will be especially useful as new data is added to these platforms over the coming months. In this way, we expect to demonstrate material project progress and value creation for all our stakeholders.
Highlights:
"We have developed and launched several new tools that should help investors understand the opportunity and scale that we hope to show at our 100% owned Lingman Lake Gold Project. We are pleased to invite all to view our updated website, our new corporate video and our newly launched VRIFY corporate presentation. As we add material data, we aim to update these platforms to demonstrate our progress over time. We invite interested parties to join our mailing list to keep up to date with our progress."
Robert Vallis - President, CEO, and Director
Launch of New Website and Corporate Video:
Signature has launched a new website to reflect the new look and direction of the Company. The design is focused on providing a concise delivery of relevant information. In addition, the corporate video has been designed to present an executive summary of our 100% owned Lingman Lake Gold deposit.
Launch of VRIFY Corporate Presentation:
Inclusive within the enhanced content of the new website, Signature has launched its VRIFY Corporate Presentation. The fully online format allows for a much more data rich and informative experience for the viewer with the inclusion of interactive satellite imagery and 3D modeling. The added features present details of its 100% owned Lingman Lake Gold Project such as location, infrastructure, land tenure, geologic setting, 3D model of mineralization, drilling, regional exploration activities and upside target potential. The VRIFY platform delivers a strong, clear message of the vast regional discovery potential of the project and immense land tenure in the prolific northern Red Lake geologic district.
About Signature
The Lingman Lake gold property consists of 1,389 staked claims, four free hold full patented claims and 14 mineral rights patented claims totaling approximately 26,393 hectares. The property hosts an historical estimate of 234,684 oz of gold* (1,063,904 tonnes grading 6.86 g/t with 2.73 gpt cut-off) and includes what has historically been referred to as the Lingman Lake Gold Mine, an underground substructure consisting of a 126.5-meter shaft, and 3-levels at 46-meters, 84-meters and 122-meters depths.
*This historical resource estimate is based on prior data and reports obtained and prepared by previous operators, and information provided by governmental authorities. A Qualified Person has not done sufficient work to verify the classification of the mineral resource estimates in accordance with current CIM categories. The Company is not treating the historical estimate as a current NI 43-101 mineral resource estimate. Establishing a current mineral resource estimate on the Lingman Lake deposit will require further evaluation, which the Company and its consultants intend to complete in due course. Additional information regarding historical resource estimates is available in the technical report entitled, "Technical Report on the Lingman Lake Gold Property" dated January 31, 2020, prepared by John M. Siriunas, P.Eng. and Walter Hanych, P.Geo., available on the Company's SEDAR profile at www.sedar.com.
To find out more about Signature Resources Limited, visit our website at www.signatureresources.ca, or contact:
Jonathan Held
Chief Financial Officer
416-270-9566
SIGNATURE RESOURCES PROVIDES A PROJECT UPDATE ON ONGOING DRILLING ACTIVITIES AT ITS 100% OWNED LINGMAN LAKE GOLD PROJECT
FOR IMMEDIATE RELEASE
Toronto, Ontario, April 9, 2021. Signature Resources Ltd. (TSXV: SGU, OTCQB: SGGTF, FSE 3S3) ("Signature" or the "Company") is pleased to announce an update on the ongoing 2,500-meter winter drill campaign being conducted at its 100% owned Lingman Lake Gold Project (“Project”) located in Northwestern Ontario.
Highlights:
The 2,500-meter winter drilling program is ~35% completed and remains on schedule.
First shipment of assay samples was delivered to the lab this week.
Assay results from this first batch of samples are expected sometime within the next four weeks.
Despite significant headwinds from extremely rare and challenging winter conditions and Covid-19 related restrictions, drilling activities at the Project started and continue to remain on-schedule with the Company’s 100% owned drill rig.
“The exceptional work of our site management, exploration team, drilling crew, and camp support personnel have resulted in our ability to start and sustain drilling on-schedule. We await in great anticipation the first batch of assay results in the coming weeks.”
Robert Vallis – President, CEO, and Director
About Signature
The Lingman Lake gold property consists of 1,389 staked claims, four free hold full patented claims and 14 mineral rights patented claims totaling approximately 26,393 hectares. The property hosts an historical estimate of 234,684 oz of gold* (1,063,904 tonnes grading 6.86 g/t with 2.73 gpt cut-off) and includes what has historically been referred to as the Lingman Lake Gold Mine, an underground substructure consisting of a 126.5-meter shaft, and 3-levels at 46-meters, 84-meters and 122-meters depths.
*This historical resource estimate is based on prior data and reports obtained and prepared by previous operators, and information provided by governmental authorities. A Qualified Person has not done sufficient work to verify the classification of the mineral resource estimates in accordance with current CIM categories. The Company is not treating the historical estimate as a current NI 43-101 mineral resource estimate. Establishing a current mineral resource estimate on the Lingman Lake deposit will require further evaluation, which the Company and its consultants intend to complete in due course. Additional information regarding historical resource estimates is available in the technical report entitled, "Technical Report on the Lingman Lake Gold Property" dated January 31, 2020, prepared by John M. Siriunas, P.Eng. and Walter Hanych, P.Geo., available on the Company's SEDAR profile at www.sedar.com
To find out more about Signature Resources Limited, visit our website at www.signatureresources.ca, or contact:
Jonathan Held
Chief Financial Officer
info@signatureresources.ca
I was thinking the same way. I am sure they are seeing good results and want to secure the land otherwise why spend extra cash!!!!
Go Signature Go......
8:30a ET 3/22/2021 - Globe Newswire
Signature Resources Further Increases Its Lingman Lake Project Land Package in the Prolific Red Lake Geologic District
Mentioned: SGGTF
Signature Resources Ltd. (TSXV: SGU, OTCQB: SGGTF, FSE 3S3) ("Signature" or the "Company") is pleased to announce an additional increase in its land position at its Lingman Lake Project within in the prolific Red Lake geologic district in Northwestern Ontario.
The Company has added 323 claims to the previously held 1,066 claims (excluding the 18 held patented claims), to now hold 1,389 claims. When added to the 4 full patented claims and 14 mineral rights patented claims held, Signature now holds a total of 1,407 claims (26,393 hectares).
The updated claim package covers a vast land holding defined by over 32 km E-W strike distance and 264 square kilometers of highly prospective gold potential. The Signature team is excited with its plans to commence a significant regional exploration program commencing in the Spring of 2021. The program will be focused on following-up on previously completed regional exploration work identifying and unlocking multiple high-potential regional drill targets throughout its massive land package.
"With the addition of these 323 claims, Signature's Lingman Lake property now encompasses 85% of the entire Lingman Lake Greenstone Belt and 90% of the all-important Northern margin, significantly enhancing the huge district scale potential of Signature's Lingman Lake land package. We look forward to starting regional and targeted exploration programs to assess this potential in the Spring."
Walter Hanych - Chief Geologist
The Company commenced its 2,500 meter 2021 winter drill program March 17 which is focused on expanding the known zone of historical mineralization towards the west and to depth.
An image of the updated land package highlighting the recently added claims is depicted below:
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e52e43c6-34ac-4ef7-b9e1-9ed3f254e92e
Shares for Services
As discussed in the press release dated January 5, 2021, VRIFY Technology Inc. ("VRIFY"), has rendered its services to the Company for charges amounting to $36,000, which shall be paid for through the issuance of 184,615 common shares at a price of $0.195 per share. The issuance of these common shares remains subject to TSXV approval.
About Signature
The Lingman Lake gold property consists of 1,389 staked claims, four free hold full patented claims and 14 mineral rights patented claims, for an aggregate of 1,407 claims totaling approximately 26,393 hectares. The property hosts an historical estimate of 234,684 oz of gold* (1,063,904 tonnes grading 6.86 g/t with 2.73 gpt cut-off) and includes what has historically been referred to as the Lingman Lake Gold Mine, an underground substructure consisting of a 126.5-meter shaft, and 3-levels at 46-meters, 84-meters and 122-meters depths.
*This historical resource estimate is based on prior data and reports obtained and prepared by previous operators, and information provided by governmental authorities. A Qualified Person has not done sufficient work to verify the classification of the mineral resource estimates in accordance with current CIM categories. The Company is not treating the historical estimate as a current NI 43-101 mineral resource estimate. Establishing a current mineral resource estimate on the Lingman Lake deposit will require further evaluation, which the Company and its consultants intend to complete in due course. Additional information regarding historical resource estimates is available in the technical report entitled, "Technical Report on the Lingman Lake Gold Property" dated January 31, 2020, prepared by John M. Siriunas, P.Eng. and Walter Hanych, P.Geo., available on the Company's SEDAR profile at www.sedar.com
To find out more about Signature Resources Limited, visit our website at www.signatureresources.ca, or contact:
Jonathan Held
Chief Financial Officer
416-270-9566
Cautionary Notes
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 news release.
This news release contains forward-looking statements which are not statements of historical fact. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions and risks associated with infectious diseases, including COVID-19. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to changes in general economic and financial market conditions, failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
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9:23a ET 3/18/2021 - Globe Newswire
Signature Resources Announces $1.42 Million Flow Through Deal Backstopped by Crescat Capital LLP
Mentioned: SGGTF
Signature Resources Ltd. (TSXV: SGU, OTCQB: SGGTF, FSE 3S3) ("Signature" or the "Company") is pleased to announce that it has closed on a non-brokered charity flow through private placement for 9,090,909 shares at a price of CAD$0.156 per share for gross proceeds of approximately CAD$1.42 million (the "Offering"). It is important to highlight that the pricing for the Offering was consummated in early February which represented a premium of over 40% to Signature's share price at that time. Proceeds will be used for flow through exploration at Lingman Lake Gold Project where ~2,500 metres of drilling has commenced. The shares issued in the Offering will qualify as "flow-through shares" (within the meaning of the Income Tax Act (Canada)).
Highlights:
"We are very pleased that Crescat Capital has decided to join Signature Resources on this exciting journey as a valued shareholder. We look forward to building on this newly formed relationship as we test both the extent of the historic resource but also the vast regional district potential that we see at the Lingman Lake Gold Project. We appreciate the kind and supportive commentary made by Crescat Capital during their recent webcast."
Robert Vallis, P.Eng.,MBA - President, CEO, and Director
The use of proceeds will be focused on flow through eligible exploration efforts at the Lingman Lake Gold Project in Ontario.
This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful. These securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States or to U.S. persons unless registered or exempt therefrom.
Signature Resources Commences Drilling at its 100% Owned Lingman Lake Gold Project
Mentioned: SGGTF
Signature Resources Ltd. (TSXV: SGU, OTCQB: SGGTF, FSE 3S3) ("Signature" or the "Company") is pleased to announce it has commenced drilling of its 2021 winter drill campaign on its 100% owned Lingman Lake Gold Project ("Lingman Lake") in north-western, Ontario.
"This is an exciting event for Signature to report the start of its 13-hole (~2,500-metre) winter drill campaign utilizing its 100% owned diamond drill rig. This round of drilling is focused on extending the known zones of mineralization along strike to the west down to a depth of approximately 180 meters. The historic resource that was developed on Lingman Lake based on 28,000 metres of drilling was only developed down to approximately 180 metres and open in all directions. The Company is expecting initial assay results in April."
Robert Vallis, President, CEO and Director
About Signature
The Lingman Lake gold property consists of 1,084 claims, 1,066 staked claims, four free hold full patented claims and 14 mineral rights patented claims totaling approximately 20,124 hectares. The property hosts an historical estimate of 234,684 oz of gold* (1,063,904 tonnes grading 6.86 g/t with 2.73 gpt cut-off) and includes what has historically been referred to as the Lingman Lake Gold Mine, an underground substructure consisting of a 126.5-meter shaft, and 3-levels at 46-meters, 84-meters and 122-meters depths.
*This historical resource estimate is based on prior data and reports obtained and prepared by previous operators, and information provided by governmental authorities. A Qualified Person has not done sufficient work to verify the classification of the mineral resource estimates in accordance with current CIM categories. The Company is not treating the historical estimate as a current NI 43-101 mineral resource estimate. Establishing a current mineral resource estimate on the Lingman Lake deposit will require further evaluation, which the Company and its consultants intend to complete in due course. Additional information regarding historical resource estimates is available in the technical report entitled, "Technical Report on the Lingman Lake Gold Property" dated January 31, 2020, prepared by John M. Siriunas, P.Eng. and Walter Hanych, P.Geo., available on the Company's SEDAR profile at www.sedar.com.
To find out more about Signature Resources Limited, visit our website at www.signatureresources.ca, or contact:
I did not sell anything for over 2 years as a matter of fact kept adding on every dip.
Not going anywhere until we see a big reward....
It could be tomorrow or Thursday morning... I think we are very close. Hang in there, we will be rewarded.
Was this 3rd Infrastructure conference scheduled this week? Did you see any weekly schedule somewhere? I am trying to find one myself.
Today’s conference was about Covid vaccination (i listened to it).
We should reach out to them and ask them and their interest in this project
Great presentation and now this stock is getting serious attraction... Go Signature GO...
8:30a ET 2/25/2021 - Globe Newswire
Signature Resources Increases Its Lingman Lake Project Land Package in the Prolific Red Lake Geologic District
Mentioned: SGGTF
Signature Resources Ltd. (TSXV: SGU, OTCQB: SGGTF, FSE: 3S3) ("Signature" or the "Company") is pleased to announce the increase in its land position at its Lingman Lake Project within in the prolific Red Lake geologic district in Northwestern Ontario.
The previously held claims, excluding the 18 held patented claims, of 604 has been increased to 1,066 claims. When added to the 4 full patent claims and 14 mineral rights patented claims held, Signature now holds a total of 1,084 claims (20,124 hectares).
The updated claim package covers a huge land holding defined by a near 30 km E-W strike distance and 202 square kilometers of highly prospective mineral potential. The Signature team is excited with its plans to commence a significant regional exploration program commencing in the spring of 2021. The program will be focused on following-up on previously completed regional exploration work identifying and unlocking multiple high-potential regional drill targets throughout its massive land package.
"The addition of 462 claims to Signature's Lingman Lake property, which cover complex structural domains beyond the all-important North Contact, has enhanced the district scale potential of the Lingman Lake land package. We look forward to undertaking regional and targeted exploration programs to assess this potential in the up-coming field season".
Walter Hanych - Chief Geologist
The Company continues preparations to commence its 2,500 meter 2021 winter drill program in early March as targeted. The program is focused on expanding the known zone of historic mineralization towards the west and to depth.
An image of the updated land package highlighting the recently added claims is depicted below:
https://www.globenewswire.com/NewsRoom/AttachmentNg/4e9166f2-a3c2-47a2-9522-d48132a2a0be
8:30a ET 2/17/2021 - Globe Newswire
Signature Resources Appoints Rickardo Welyhorsky as an Advisor to Management and the Board of Directors
Mentioned: SGGTF
Signature Resources Ltd. (TSXV: SGU, OTCQB: SGGTF, FSE 3S3) ("Signature" or the "Company") is pleased to announce the appointment of Rickardo Welyhorsky as an advisor to the Company.
Mr. Welyhorsky is a registered Professional Metallurgical Engineer with over 28 years of experience spanning all levels of project development and operations in the mining and metals industry. He brings to Signature's advisory board a wealth of industry experience in various roles globally including with Yamana Gold, Detour Gold, Barrick Gold, and AMEC. Mr. Welyhorsky has held key roles in the study and development of many world-class gold mining operations including Yamana Gold's Cerro Moro mine and Detour Gold. Mr. Welyhorsky has also held management positions at several Canadian open pit and underground operations and was most recently Mine General Manager at the Pure Gold Mine in Red Lake, Ontario, Canada where he was successful at taking the project into operations.
"I am extremely delighted to be joining Signature Resources as board advisor using my years of project, technical and operating experiences to further advance the Lingman Lake Gold Project. Having worked in the Red Lake area, I have seen firsthand the significant high-grade potential in the region. To be part of this very real growth story, and the ability to positively impact the company's goals while working with an exceptionally talented team, is a privilege and an honour."
Rickardo Welyhorsky, P. Eng. - Advisory Board
"Rickardo's depth and breadth of experience within our industry is incredible. He brings unique Canadian and international perspective to our advisory board in all phases of mineral projects with special emphasis on metallurgy, mine development, and operation. His technical prowess, leadership capabilities, and team-focused professionalism is a significant and highly valued addition to Signature's Advisory Board."
Robert Vallis, P. Eng., MBA - President & CEO
Stock Options
The Company has also granted 200,000 incentive stock options to Mr. Welyhorsky as a result of his appointment. The options shall have an exercise price of $0.12, expire five years from the date of issuance, and shall vest 25% immediately, and 12.5% ever six months thereafter through to the third anniversary.
Upcoming AGM
Signature is seeking shareholder approval for a share consolidation on an up to one (1) new common share for up to every existing five (5) common shares (the "Consolidation") at its upcoming Annual General and Special Meeting to be held on March 1st, 2021. Management and the board of the Company believe that the Consolidation will enhance the marketability of the Company's common shares as an investment to a wider range of potential investors, which should help to facilitate additional financings for strategic investment. This in turn would permit Signature to act upon opportunities to accelerate resource growth through drilling. In addition, the Consolidation could also provide the potential for new index inclusions of Signature's common shares, which could be beneficial to the Company and its shareholders. The Consolidation will only be pursued if management and the board deem the impact to be a net material benefit to the Company's goals of becoming a premier gold exploration/development company. Consequently, the Company would only initiate a share Consolidation in the event management believed it could potentially lead to:
Yes, you are absolutely correct. If all goes well I expect this share to be around at minimum .25-.30 by end of March.
This company is on the roll....
8:30a ET 1/27/2021 - Globe Newswire
Signature Resources Appoints John Hayes as an Advisor to Management and the Board of Directors
Mentioned: SGGTF
Signature Resources Ltd. (TSXV: SGU, OTCQB: SGGTF, FSE 3S3) ("Signature" or the "Company") is pleased to announce the appointment of John Hayes as an advisor to the Company.
John Hayes is a professional geologist with over 20 years of exploration, and many years of capital markets experience. John worked for ten years in mining equity research at BMO Capital Markets and at the time of his retirement in 2014 was a managing director covering global precious and base metal companies as they advanced projects from exploration to production. Most recently, Mr. Hayes served in senior roles at Pretium Resources and Osisko Mining. John graduated from Memorial University of Newfoundland with an Honours Bachelor of Science in Geology (1989) and a Master of Science in Geology (1997). He also holds an MBA from Dalhousie University (2003) and is a member (P. Geo.) of the Professional Engineers and Geoscientists Newfoundland and Labrador.
"The Lingman Lake property has historically defined mineralization within a little-explored greenstone belt. Lingman is not unlike any number of early-stage projects in needing capital and technical leadership to advance. I am pleased to be joining Dan Denbow as an advisor to Signature to help the new leadership team and Board advance the project." John Hayes, M.Sc., MBA, P.Geo - Advisory Board "We have known John Hayes for a number of years now and have always appreciated his strategic guidance and technical ability. We are honoured to have such an experienced geological and finance professional join our team as an advisor the board of directors and management." Robert Vallis - President & CEO
Stock Options
The Company has also granted 200,000 incentive stock options to Mr. Hayes as a result of his appointment. The options shall have an exercise price of $0.125, expire five years from the date of issuance, and shall vest 25% immediately, and 12.5% every six months thereafter, through to the third anniversary.
About Signature
The Lingman Lake gold property consists of 622 staked claims, four free hold full patented claims and 14 mineral rights patented claims totaling approximately 12,148 hectares. The property hosts an historical estimate of 234,684 oz of gold* (1,063,904 tonnes grading 6.86 g/t with 2.73 gpt cut-off) and includes what has historically been referred to as the Lingman Lake Gold Mine, an underground substructure consisting of a 126.5-meter shaft, and 3-levels at 46-meters, 84-meters and 122-meters depths.
*This historical resource estimate is based on prior data and reports obtained and prepared by previous operators, and information provided by governmental authorities. A Qualified Person has not done sufficient work to verify the classification of the mineral resource estimates in accordance with current CIM categories. The Company is not treating the historical estimate as a current NI 43-101 mineral resource estimate. Establishing a current mineral resource estimate on the Lingman Lake deposit will require further evaluation, which the Company and its consultants intend to complete in due course. Additional information regarding historical resource estimates is available in the technical report entitled, "Technical Report on the Lingman Lake Gold Property" dated January 31, 2020, prepared by John M. Siriunas, P.Eng. and Walter Hanych, P.Geo., available on the Company's SEDAR profile at www.sedar.com
To find out more about Signature Resources Limited, visit our website at www.signatureresources.ca, or contact:
Jonathan Held
Chief Financial Officer
416-270-9566
Cautionary Notes
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 news release.
This news release contains forward-looking statements which are not statements of historical fact. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to changes in general economic and financial market conditions, failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
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8:38a ET 1/26/2021 - Globe Newswire
Signature Resources Expects Fully Funded Winter Drill Campaign to Start Late February-Early March
Mentioned: SGGTF
Signature Resources Ltd. (TSXV: SGU, OTCQB: SGGTF, FSE 3S3) ("Signature" or the "Company") is pleased to provide an update on its 100% owned Lingman Lake Gold Project ("Project") located in Northwestern Ontario.
Camp preparation on the Company's patented claims is underway for a 2,500 meter drill program, which is targeted to commence late February - early March. Ground crews have been preparing the exploration camp for the upcoming winter drill campaign since early January. All items delivered to the Project have been transported via Manitoba by fixed wing aircraft and helicopter. Setup activities include mobilization of fixed and mobile support equipment, consumables, and all other supplies and structures required to establish and operate the exploration camp safely and efficiently. The Signature team has emplaced an extremely rigid COVID-19 protocol to protect communities, contractors and personnel... Signature will be utilizing its 100% owned diamond drill rig for the upcoming, fully funded, 2,500-meter winter drill campaign. Despite challenging logistics and unusually mild weather causing heavy snow conditions, setup activities continue for drilling to commence in late February-early March. All activities and related logistics specific to the Project preparation and operation are led by Signature's founder and valued consulting advisor, John Leliever.
"I am incredibly pleased with the exceptional efforts made by John and his entire setup team. When I first was introduced to Signature's founder, John Leliever, I was and remain extremely impressed with his depth of knowledge, resourcefulness, proficiency, professionalism, and like-minded support to rapidly advance the Lingman Lake gold project. With respect to the ongoing setup and pending operation of our Project, John's invaluable experience with exploration logistics and planning have been integral to Signature's successful progress."
Robert Vallis, P.Eng., MBA - President, CEO, and Director
The Company will continue to provide updates on the Project's setup and pending drilling activities as related scheduled milestones are achieved.
AMLO is working even with Mild Covid symptoms. Spoke to Putin today.
8:30a ET 1/19/2021 - Globe Newswire
Signature Resources Appoints Dan Denbow as an Advisor to Management and the Board of Directors
Mentioned: SGGTF
Signature Resources Ltd. (TSXV: SGU, OTCQB: SGGTF, FSE 3S3) ("Signature" or the "Company") is pleased to announce the appointment of Dan Denbow as an advisor to the Company.
Dan Denbow has spent over 28 years in the capital markets with his most recent experience associated with USAA Investment Management Company. As a portfolio manager for USAA Mr. Denbow was responsible for managing over US$4 billion in three strategies; a domestic dividend and global dividend strategy and the USAA Precious Metals and Minerals Fund. Dan and his team have received eight Lipper Fund awards, six Lipper Fund Achievement certificates, a TopGun Investment Mind award in 2018 from Brendan Wood International, and the USAA Precious Metals Fund was named the "Fund of the Decade" for the ten-year period ending 2009. The USAA Precious Metals and Minerals Fund focused on selection of gold mining securities with a relative value ranking adjusting for risk based on factors including asset quality, management quality, and balance sheet quality. Dan holds an MBA from Texas Christian University, Neeley School of Business and is a CFA charterholder.
"I am very excited to be able to provide my experience and guidance to the Signature Resources team as they work to advance the Lingman Lake property from an attractive under-explored prospect through its life cycle and achieving its ultimate potential for shareholders. The significant historical data from prior work on the property does provide a glimpse into the potential for this property."J. Dan Denbow, CFA - Advisory Board"We have known Dan Denbow for a number of years now and have always appreciated his strategic guidance and his strict adherence to the highest standards of corporate governance. We are honoured to have such an experienced finance professional join our team as an advisor to the board of directors and management."Robert Vallis - President & CEO
Stock Options
The Company has also granted 200,000 incentive stock options to Mr. Denbow as a result of his appointed. The options shall have an exercise price of $0.11, expire five years from the date of issuance, and shall vest 25% immediately, and 12.5% ever six months thereafter through to the third anniversary
8:30a ET 1/5/2021 - Globe Newswire
Signature Resources Announces Engagement of VRIFY to Enhance Data Disclosure
Mentioned: SGGTF
Signature Resources Ltd. (TSXV: SGU, OTCQB: SGGTF, FSE 3S3) ("Signature" or the "Company") is pleased to announce the engagement of VRIFY Technology Inc. ("VRIFY") to implement their platform to assist in showcasing the Lingman Lake project.
"We are excited to announce that we have partnered with VRIFY to enhance project and market clarity as we advance the 100% owned Lingman Lake Gold project. We believe the VRIFY platform will provide enhanced communication of and transparency with our project setting, scale, and historic data ahead of our upcoming winter drill program. Further, our previously announced engagement with Nordmin Engineering and the related workflow will integrate well with and benefit from the VRIFY communication platform. We plan to update the market more fully regarding our winter plans shortly."
Robert Vallis, P.Eng., MBA - President, CEO, and Director
The Company has entered into a share-for-services agreement with VRIFY (the "Agreement"), pursuant to the provisions of the TSX Venture Exchange (the "Exchange") Policy 4.3. Pursuant to the Agreement, VRIFY shall provide certain services (the "Services"), and shall receive its fees by way of the issuance of common shares (the "Shares") of the Company. The Shares will be issued at a deemed price per Share equal to the greater of $0.11 and the Market Price (as defined in the TSXV policies) of the Shares as traded on the Exchange on the first trading date following the date the Services are provided to the Company. The Agreement remains subject to Exchange approval.
About VRIFY
VRIFY's technology communicates a company's value with presentation tools that simplify information and translate tough to digest data into compelling content. The platform allows companies to showcase project data with interactive 3D models, host global site visits of remote assets using virtual tours, and present content to any device, anytime, anywhere in the world. See for yourself at VRIFY.com.
About Signature
The Lingman Lake gold property consists of 622 staked claims, four free hold full patented claims and 14 mineral rights patented claims totaling approximately 12,148 hectares. The property hosts an historical estimate of 234,684 oz of gold* (1,063,904 tonnes grading 6.86 g/t with 2.73 gpt cut-off) and includes what has historically been referred to as the Lingman Lake Gold Mine, an underground substructure consisting of a 126.5-meter shaft, and 3-levels at 46-meters, 84-meters and 122-meters depths.
*This historical resource estimate is based on prior data and reports obtained and prepared by previous operators, and information provided by governmental authorities. A Qualified Person has not done sufficient work to verify the classification of the mineral resource estimates in accordance with current CIM categories. The Company is not treating the historical estimate as a current NI 43-101 mineral resource estimate. Establishing a current mineral resource estimate on the Lingman Lake deposit will require further evaluation, which the Company and its consultants intend to complete in due course. Additional information regarding historical resource estimates is available in the technical report entitled, "Technical Report on the Lingman Lake Gold Property" dated January 31, 2020, prepared by John M. Siriunas, P.Eng. and Walter Hanych, P.Geo., available on the Company's SEDAR profile at www.sedar.com
To find out more about Signature Resources Limited, visit our website at www.signatureresources.ca, or contact:
Jonathan Held
Chief Financial Officer
416-270-9566
Cautionary Notes
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 news release.
This news release contains forward-looking statements which are not statements of historical fact. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the completion of the services, acceptance of regulatory filings by the TSX-V, the Company's objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to changes in general economic and financial market conditions, failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
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Signature on the roll...
SIGNATURE RESOURCES ANNOUNCES NORDMIN ENGAGEMENT
FOR IMMEDIATE RELEASE
Toronto, Ontario, December 23, 2020. Signature Resources Ltd. (TSXV: SGU, OTCQB: SGGTF, FSE 3S3) ("Signature" or the "Company") is pleased to announce the engagement of Nordmin Engineering Ltd. (“Nordmin”) to provide technical services.
“Given the extensive expertise that Nordmin has developed in this region with their work at Monument Bay and other projects regionally and globally, we are pleased to be working with their team. Nordmin has demonstrated a proficiency with working with the local stake holders and have formidable experience in optimizing logistical planning in this region. Ultimately, advancing our historic resource to full compliance, plus the upcoming drill program, will form the foundation for an expanded resource in due course. We expect to be in a position to provide a more extensive exploration update early in 2021.”
Robert Vallis, P.Eng., MBA – President, CEO, and Director
Stock Options
The Company has also granted 2,575,000 incentive stock options to directors, officers and consultants of the Company. 2,500,000 options shall have an exercise price of $0.13, expire five years from the date of issuance, and shall vest 25% immediately, and 12.5% ever six months thereafter through to the third anniversary. The other 75,000 stock options shall have an exercise price of $0.13, expire one year from the date of issuance and shall vest immediately upon issuance.
About Signature
The Lingman Lake gold property consists of 622 staked claims, four free hold full patented claims and 14 mineral rights patented claims totaling approximately 12,148 hectares. The property hosts an historical estimate of 234,684 oz of gold* (1,063,904 tonnes grading 6.86 g/t with 2.73 gpt cut-off) and includes what has historically been referred to as the Lingman Lake Gold Mine, an underground substructure consisting of a 126.5-meter shaft, and 3-levels at 46-meters, 84-meters and 122-meters depths.
*This historical resource estimate is based on prior data and reports obtained and prepared by previous operators, and information provided by governmental authorities. A Qualified Person has not done sufficient work to verify the classification of the mineral resource estimates in accordance with current CIM categories. The Company is not treating the historical estimate as a current NI 43-101 mineral resource estimate. Establishing a current mineral resource estimate on the Lingman Lake deposit will require further evaluation, which the Company and its consultants intend to complete in due course. Additional information regarding historical resource estimates is available in the technical report entitled, "Technical Report on the Lingman Lake Gold Property" dated January 31, 2020, prepared by John M. Siriunas, P.Eng. and Walter Hanych, P.Geo., available on the Company's SEDAR profile at www.sedar.com
This is a different company who pursued permits but were refused.
“Diamondhead Real Estate company”
We are dealing with Diamondhead Casino Corp and they already have permits. I have a lawyer friend who is involved and an investor and did his DD already. We are green here.
Any one paying attention that we are loosing 5 cents per day for the last week or so, is it a coincidence or planned coordinated activity against Mirage lol
Joint communiqué Sedatu and the governments of Oaxaca and Veracruz sign, an agreement for territorial planning and urban planning in the Isthmus | Isthmus Program | Government | gob.mx
Joint communiqué
Mexico City, December 16, 2020
Sedatu and the governments of Oaxaca and Veracruz sign an agreement for territorial planning and urban planning in the Isthmus of Tehuantepec
This corridor will bring great benefits and important amounts of investment that must be distributed in the best possible way among society; let planning be the element that ensures a better development": Román Meyer
Cuitláhuac García Jiménez, governor of Veracruz, spoke out that the project is carried out promptly and expeditiously and bear fruits of social justice to both entities in the southeastern south of our country
Coatzacoalcos, Veracruz, December 16, 2020.- The Secretariat of Agrarian, Territorial and Urban Development (Sedatu), the Interoceanic Corridor of the Isthmus of Tehuantepec (CIIT) and the state governments of Oaxaca and Veracruz, signed a coordination agreement to establish communication and concertation links in the three orders of government to jointly and coordinate the Territorial Planning Program of the Region of the Isthmus of Tehuantepec.
Román Meyer Falcón, head of Sedatu, explained that one of the priorities of the Government of Mexico in terms of development and infrastructure, is that large-scale projects such as the Interoceanic Corridor of the Isthmus of Tehuantepec, are based on technical planning processes to know their impact in the medium and long term.
"We seek that from this agreement consecutive technical meetings are generated to weave the vision of the territory together. This corridor will bring great benefits and important amounts of investment that must be distributed in the best possible way among society; that planning is the element that ensures better development. I think it's a historic moment and the few opportunities we have to ensure that what we do transcends correctly," he said.
Meyer Falcón stressed that a strong state is one that plans with a long-term vision and that attends to the specific needs of each order of government without subordinating each other; therefore, it is sought that the Territorial Program of the Isthmus of Tehuantepec serves as a normative framework and reference for state and municipal programs.
Cuitláhuac García Jiménez, governor of Veracruz, reiterated his commitment to the project and the accompaniment to the 33 municipalities involved.
"Now an important step is taken. We have signed different agreements and agreements that are moving the project forward. Yesterday we were already given the project of the master plan of all this development that of course requires strong and well-designed bases in all the territories where the project is going to be implemented, "he added.
The Veracruz governor pronounced himself that the project is carried out promptly and expeditiously and bear fruit of social justice to both entities in the southeastern south of our country.
On behalf of Alejandro Murat, governor of Oaxaca, Javier Lazcano Vargas, secretary of Infrastructure and Sustainable Territorial Planning, welcomed the consolidation of the agreement and said that the 46 municipalities of Oaxaca through which the corridor crosses will continue to work for territorial planning, social inclusion and regional development.
For his part, the general director of the Interoceanic Corridor of the Isthmus of Tehuantepec, Rafael Marín Mollinedo, explained that the objective of the program is to generate the necessary changes to strengthen and diversify the local economy as a condition to improve the level of well-being of the population of one of the most backward regions of the country.
"From the perspective of development planning, one of the areas with the highest priority is the ordering of the space environment that will support the development process of the region of the Isthmus of Tehuantepec. Territorial planning will be oriented to a sustainable, balanced and inclusive model, which integrates the sociodemographic, cultural, economic and environmental dimensions at different scales, "he said.
Its a great picture but Signature is validating 80’s mining results which means we are ahead on these curves...
Looking good, price is .10 cents now. I hope its not pump & dump
Absolutely!!!!