GreenLight stakes The Shear Mine Gold occurrence, historic assays 17.14g/t Au
GreenLight Resources Inc.
V.GR: TSX-V
GreenLight stakes The Shear Mine Gold occurrence, historic assays 17.14g/t Au
VANCOUVER, British Columbia – GREENLIGHT RESOURCES INC. (TSXV.GR), is pleased to announce that the Company has acquired by staking a further 2,400 acres adjacent to its Otter Lake property in northern Charlotte County, New Brunswick. GreenLight previously announced an option agreement with Portage Minerals Inc. (RKX - CNSX) and Rockport Mining Corp. to acquire a 50% interest in the 4,160 acre Otter Lake property. The new staking increases GreenLight's contiguous land position to 6,560 acres.
The newly acquired lands which are 100% owned by GreenLight are situated 15 km east of the Mt Pleasant Zn (zinc), In (Indium), W (tungsten), Mo (Molybdenum), Bi (Bismuth) deposit. Located on the property is the Pender Brook Fault Zone which hosts the Shear Mine occurrence. This is an old shaft (1868 vintage) that was sunk on a 30 cm wide quartz vein carrying pyrite, magnetite and minor chalcopyrite. Historical assays from the time the shaft was sunk assayed up to 17.14 g/t (grams per ton) Au and subsequent sampling returned 9.6 g/t Au and 60 g/t Ag. The mineralization here is associated with a wide silicified, sericitic shear zone within the Pender Brook Fault.
Assays cited above have been taken from previous assessments reports. Readers are warned that "historical records" referred to in this release have been examined but not verified by a "Qualified Person". Further work is required to verify that the historical assays referred to in this release are accurate.
Patrick Forseille, P. Geo., a Qualified Person as defined by NI 43-101 is responsible for the technical information contained in this release.
On Behalf of the board of directors
“ Chris Anderson”
Christopher R. Anderson,
CEO – President
Investor Relations
John Curle
Email: IR@GreenLightResources.com
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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements relating to future events or future performance and reflecting Green Light Resources management’s expectations or beliefs regarding future events include, but are not limited to, statements with respect to completion of the private placement and related matters. In certain cases, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative of these terms or comparable terminology. By nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Green Light Resources to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, risks related to actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of resources; possible variations in ore reserves, grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of development or construction activities; as well as those factors detailed from time to time in Green Light Resources interim and annual financial statements and management’s discussion and analysis of those statements, all of which are filed and available for review on SEDAR at www.sedar.com. Although Green Light Resources has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking statements.
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