Diamond Drilling and Trenching / Test Pitting Work Permit Received for the Treasure Mountain Silver Property, Southern British Columbia
Tuesday, February 5, 2019 12:00 PM
VANCOUVER, BC / ACCESSWIRE / February 5, 2019 / New Destiny Mining Corp. (TSXV: NED), (the "Company" or "NED") is pleased to announce a multi-year work permit has been received for the Company's Treasure Mountain Silver Base Metal - Precious Metal Property, located in southern British Columbia. The permit allows for up to 11 drill pads and up to 10 trench / test pit sites in the east-northeast regions of the property. The permit covers areas of gold, silver and copper mineralization. The property partially surrounds the Treasure Mountain Property of Nicola Mining Inc. which hosts polymetallic veins and the historic Treasure Mountain silver-lead-zinc mine. Company and reported historic highlights for the Treasure Mountain Silver Property include:
- 11.3 & 8.81 grams per tonne (g/t) gold in grab samples from the east and northeast regions (News Release of July 26, 2018).
- Historic (1913 & 1937) chip and channel samples in northeast region reported to include 4.11 g/t gold over 0.9 meters and 9.6 g/t gold over 0.18 meters.
- Historic (2011) rock dump grab samples near an adit in north-central region reported to return 6.5, 7.4 and 11.9% zinc.
- Multiple types of mineralization including polymetallic veins, gold bearing quartz veins and porphyry / porphyry-related.
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Occurrences with silver, gold, lead, zinc, copper and / or molybdenum are reported in various regions of the Treasure Mountain Silver Property. The multi-year work permit covers two target areas within the Treasure Mountain Silver Property. One target area is within the northeast region of the property in an area of reported gold bearing quartz veins. A quartz grab sample collected by the Company during 2018 in this area returned 11.3 g/t gold. The second target area is within the east region of the property in the area of the Superior (Lucky Todd) copper-gold occurrence. A porphyry dyke grab sample collected by the Company during 2018 at this occurrence returned 8.81 g/t gold. Another 2018 sample in this target area returned 0.894 % copper and 45 g/t silver. The permit is for both mechanical trenching / test pitting (up to 10 sites) and for diamond drilling (up to 11 sites). The permit was received by the Company's option partner, Ximen Mining Corp., the mineral tenure rights holder.
The Treasure Mountain Silver Property of NED partially surrounds the Treasure Mountain Property of Nicola Mining Inc. which hosts polymetallic veins and the historic Treasure Mountain silver-lead-zinc mine (TSXV: NIM). The Treasure Mountain Silver Property is also located approximately 37 kilometers southwest of the Shovelnose Gold Property of Westhaven Ventures Inc. (TSXV: WHN). Westhaven Ventures recently reported a diamond drill intersection of 8.95 g/t gold and 65.47 g/t silver over 46.2 meters (core length) at the Shovelnose Property.
Readers are warned that historical records referred to in this News Release have been examined but not verified by a Qualified Person. Further work is required to verify that historical records referred to in this News Release are accurate.
David Martin, P.Geo., a Qualified Person as defined by NI 43-101, is responsible for the technical information contained in this News Release.
ON BEHALF OF THE BOARD OF DIRECTORS
Forward Looking Information
This news release includes certain statements that constitute "forward-looking information" within the meaning of applicable securities law, including without limitation, the Company's information and statements regarding or inferring the future business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs of the Company. Such statements include statements regarding the completion of the proposed transactions. Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved), and variations of such words, and similar expressions are not statements of historical fact and may be forward-looking statements. Forward-looking statement are necessarily based upon several factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of gold and other metals, anticipated costs and the ability to achieve goals, and the Company will be able to obtain required licenses and permits. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks including that resource exploration and development is a speculative business; that environmental laws and regulations may become more onerous; that the Company may not be able to raise additional funds when necessary; fluctuating prices of metals; the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; operating hazards and risks; and competition. There can be no assurance that economic resources will be discovered or developed. Accordingly, actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward looking statements include continued availability of capital and financing and general economic, market or business conditions, the loss of key directors, employees, advisors or consultants, equipment failures, litigation, competition, fees charged by service providers and failure of counterparties to perform their contractual obligations. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
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
SOURCE: New Destiny Mining Corp.