ENP Newswire -
Release date- 17072014 -
To supplement its present treasury of approximately
Going forward the focus of GTA's efforts at Northshore will be on expanding the bulk tonnage
The Ivanhoe Property is located along extensions of both the
GTA has not carried out any field work on Ivanhoe at this point; however, GTA's on-going compilation of historic information has outlined two gold trends in the north part of the property which had been identified in assays from diamond drilling completed in 1986 to 1989. One, the
The zone is characterized as a 20 meter wide highly sheared, siliceous carbonate-sericite zone with anomalous gold ranging from 0.4 g/t to 1.4 g/t gold over the 20 meters with a best intersection of 6.9 g/t gold over 1.8 m (Timmins Resident Geologist Report of Activities, 1986).
The second gold trend, the Porphyry Trend, was drilled by BHP Mines and is described as showing eleven separate narrow intersections over a 200 meter length ranging from 0.4 g/t over 0.64 meters to 1.0 g/t over 3.41 meters (Ontario MNDM assessment files). No follow-up work has been documented since this initial work and both gold trends appear to remain completely open.
GTA plans a three month program of prospecting, geochem sampling, historic drill core resampling and compilation of existing ground geophysics and geology. This program will focus on relocating and delineating the historic mineralization, and on 'boot and hammer' prospecting along the trends. Drilling and/or trenching is tentatively scheduled for late 2014 or winter 2015, once the targets have been prioritized.
Auden Property - GTA has been exploring the Auden Property co-operatively with
The 69,000 acre Auden Property, owned 100% by GTA, is located west of
Financing - The proposed financing will consist of a private placement of up to 5,000,000 units at a price of
GTA is a well funded publicly traded mineral exploration company. It is led by an experienced and successful management team and is focused on exploring for gold and graphite in
GTA is a tightly held company having only 27,031,855 shares outstanding of which insiders control approximately 30% of the outstanding shares. The Company's shares trade on the
President and CEO
Tel: 709 699 1733
This press release contains forward-looking statements and forward-looking information (collectively, 'forward looking statements') within the meaning of applicable Canadian and
All statements, other than statements of historical fact, included herein, including statements regarding the anticipated content, commencement, duration and cost of exploration programs, anticipated exploration program results, the discovery and delineation of mineral deposits/resources/reserves, the timing of the receipt of assay results, and business and financing plans and trends, are forward-looking statements.
Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions or are those which, by their nature, refer to future events. Although the Company believes that such statements are reasonable, there can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.
The Company cautions investors that any forward-looking statements by the Company are not guarantees of future performance, and that actual results may differ materially from those in forward-looking statements.
Important factors that could cause actual events and results to differ materially from the Company's expectations include those related to weather, equipment and staff availability; performance of third parties; risks related to the exploration stage of the Company's projects; market fluctuations in prices for securities of exploration stage companies and in commodity prices and uncertainties about the availability of additional financing; risks related to the Company's ability to identify one or more economic deposits on the properties, and variations in the nature, quality and quantity of any mineral deposits that may be located on the properties; risks related to the Company's ability to obtain any necessary permits, consents or authorizations required for its activities on the properties and risks related to the Company's ability to produce minerals from the properties successfully or profitably.
Trading in the securities of the Company should be considered highly speculative. All of the Company's public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the latest technical reports filed with respect to the Company's mineral properties.
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