Jade Leader Exercises Early Option and Acquires 100% Interest in Lode Property, Wyoming
Monday, July 15, 2019 9:00 AM
CALGARY, AB / ACCESSWIRE / July 15, 2019 / Jade Leader Corp. (TSX-V: JADE) (“Jade Leader” or “the Company”) is pleased to announce that it has exercised the early option clause of its only optioned claim in Wyoming and acquired a 100% interest in that claim, consolidating ownership of all Wyoming properties to 100%.
Notice of Early Option Exercise has been given to the underlying property owner and the remaining Option Payments of US $27,000 have been made resulting in the acquisition of 100% interest (subject to certain ongoing royalties on behalf of the vendor) in an existing Lode Claim (20.7 acres/9 has). This claim was an internal claim within one of Jade Leader’s existing larger blocks.
While generally relatively poorly exposed at surface due to cover, extensive nephrite Jade, varying in grade from ornamental to thin veins of apple green, was recognized on this claim during field mapping in 2018 and 2019. Jade Leader believes that these occurrences are part of a much larger mineralized system or trend referred to as the T1 target (NR 19-03, June 12, 2019), which extends for in excess of 600 meters as outlined by surface alteration and the presence of numerous outcropping, float and subcropping nephrite Jade occurrences.
Jade Leader has begun the required permitting process and necessary filings with all relevant authorities in Wyoming to conduct a trenching program that seeks to explore up to 5 priority targets with up to 13 trenches, varying in planned length from 130 feet (40 meters) to 700 feet (213 meters). The permit application encompasses up to 5000 feet (1500 meters) of trenching with an intended work schedule of September to October 2019, contingent on permit approval.
The Company has also received $79,500 CDN in funding from the exercise of all outstanding stock options originally granted in July 2014.
DJ Project, Washington
Jade Leader personnel have just completed a 2 week follow-up program of prospecting, mapping and sampling at the DJ project, Washington. The program was comprised of ground-truthing a high- resolution property-wide magnetics geophysical survey that was conducted by helicopter. New samples are being evaluated and an update will be prepared once a preliminary review of materials has been completed.
Mr. Jean-Pierre Jutras, P.Geol., President of the Company, is the Qualified Person for the Company’s Jade projects as defined by National Instrument 43-101 and has approved the technical disclosure contained in this news release.
On Behalf of the Board of Directors,
The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release.
Except for the historical and present factual information contained herein, the matters set forth in this news release, including words such as “expects”, “projects”, “plans”, “anticipates” and similar expressions, are forward-looking information that represents management of Jade Leader’s internal projections, expectations or beliefs concerning, among other things, future operating results and various components thereof or the economic performance of Jade Leader. The projections, estimates and beliefs contained in such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause Jade Leader’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, those described in Jade Leader’s filings with the Canadian securities authorities. Accordingly, holders of Jade Leader shares and potential investors are cautioned that events or circumstances could cause results to differ materially from those predicted. Jade Leader disclaims any responsibility to update these forward-looking statements.
SOURCE: Jade Leader Corp.