(via TheNewswire)
VANCOUVER, BC –TheNewswire -
TAC ClaimPurchase and Sale Agreement
On
Cash payment:
$2,500 on signing the agreement (paid)
Share issuances:
Shares valued at
$5,000 byDecember 31, 2021 (50,000 shares issued)Shares valued at
$10,000 byDecember 31, 2022 (121,951 shares issued)Shares valued at
$15,000 byDecember 31, 2023 Shares valued at
$20,000 byDecember 31, 2024 .
The number of shares to be issued is calculated based on the 10-day average closing price of the Company’sshares immediately preceding delivery of notice of the share issuance to the vendor.
TAC Claims
2020
The 2020 Geochemical survey conducted by Geologica identified a large potential gold anomaly with a strong correlation to copper anomalies on the Claims. The anomaly is lineal shaped striking east-west, having a strike length of about 900 meters and an average width of about 400 meters.
2018
In 2018 the vendor collected rock samples on the claims and had them analyzed. The presence of 0.50% copper in sample TC202 is of note as is the relatively high gold value (0.86 g/t gold).
The Vendor first located three trenches on his claim that in his report, states “are not actually trenches per se but rather linear trends of steep outcrop exposure that have undergone continuous sampling. There is no evidence of blasting or digging.” He then picked up sample #TC201 from the northern end of trench 10-10 and sample #TC202 from the southern end of trench 10-09. These samples were submitted to
Sample TC201 returned 1,433 ppm (0.14 %) copper, 93.5 ppm molybdenum, 1.0 ppm silver, 53.7 ppb gold, 1.74% iron and 0.09% sulphur (aqua regia digestion). Sample TC202 returned 5031 ppm (0.5%) copper, 299.3 ppm molybdenum, 2.8 ppm silver, 856.3 ppb gold, 2.16% iron and 0.75% sulphur (aqua regia digestion). The low iron and sulphur values are consistent with the general scarcity of pyrite observed in the rocks.
ABOUT GEOLOGICA RESOURCE CORP.
TOPLEY CLAIMS
Geochemistry has identified high priority exploration target areas and a kilometer-scale VMS target area
The region is known for its large porphyry, copper/gold, and copper/molybdenum deposits including past producing copper mines,
Granisle and BellThe property is located in central BC, is Road Accessible, Cost effective to explore
BC Hydro power lines transect the property and several water sources are available on the property
Porphyries contain the largest reserves of Cu and close to 50% of Au reserves in BC
Topley Property consists of 7 mineral claims totaling 2,669 Ha with known prospects and showings
The accuracy of the technical content of this overview has been reviewed by
Further information on
https://geologicaresource.com/and on SEDAR at
https://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00039876
President & CEO
(604) 762-5355
doug.unwin@geologicaresource.com
Forward-Looking Statements
This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as “plan”, “expect”, “ensuring”, “believe”, “anticipate”, “will”, “would” and other similar words, or statements that certain events or conditions “may” or “will” occur. In particular, this news release contains forward-looking information pertaining to the expected timing for the commencement of trading of the Shares on the CSE, the exercise of the Over‐Allotment Option and the Company’s plans and objectives with respect to the
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