Crestview Exploration Options to Purchase the Falcon Project in Elko County, Nevada

Crestview Exploration Options to Purchase the Falcon Project in Elko County, Nevada

(TheNewswire)

Crestview Exploration Inc.

Calgary, Canada TheNewswire - September 7, 2022 Crestview Exploration Inc. ( CSE:CRS ) ( Frankfurt:CE7 ) (" Crestview " or "the Company") is pleased to announce it has entered into an option agreement (the "Agreement") with the Falcon Mine Group (" FMG "), whereby Crestview has optioned to purchase 100% of the Falcon Project (" Falcon " or the " Property ").

The Falcon project comprises eighty-seven (87) unpatented lode claim and six (6) patented claims associated with the historic Falcon mine. According to "in house" historical reports, "[t]he Falcon Mine was discovered in 1876 and produced high-grade ore, averaging 100 opt (ounces per ton) silver, until 1891" (Brian Bond, 2010 – Preliminary Geological Report, Falcon Claim Block). The property is situated just 2 km's south of Crestview's flagship Rock Creek prospect and a similar distance southwest of Crestview's Divide prospect (see Map 1), placing all three properties in close proximity for a total of 189 claims.

MAP 1


Click Image To View Full Size

Crestview's Tuscarora district play (Rock Creek, Divide, Castile, and now Falcon) is in a highly prospective, prolific gold region (see Map 2). The properties are surrounded on three sides by giant, "world-class" gold deposits and mines, including the Midas mine, approximately 35 km's to the west-southwest, which has produced more than 2.2 Moz Au and 26.9 Moz Ag with proven and probable reserves of an additional 2.73 Moz Au and 199.92 Moz Ag from an epithermal Ag (Au) deposit (Hecla Mining Company Website – 2022); the Goldstrike operation, approximately 45 km's south, which includes both the Betze-Post open pit and the Meikle underground mine and boasts a combined 11.88 Moz Au production with an additional 8.53 Moz Au of proven and probable reserves from a Carlin-type gold deposit (Technical Report on the  Goldstrike Mine, Eureka and Elko Counties, State of Nevada, USA NI 43-101 Report – 2019); and the Jerritt Canyon mine, approximately 30 km's to the east (further from the Carlin Trend than the Tuscarora properties), which has produced an incredible 9.7 Moz Au from a Carlin-type gold deposit (Technical Report on the Jerritt Canyon Mine, Elko County, Nevada, USA Report for NI 43-101 – 2021), with continued exploration ongoing.

MAP 2


Click Image To View Full Size

The Falcon property occurs in the southwest portion of an Eocene-aged caldera complex, hosted in a sequence of Devonian sedimentary rocks overlain by andesitic, dacitic, and rhyolitic volcanic rocks of the Tuscarora volcanic field (Roney Long, 2000 – The Falcon Mine Project). Our exploration concept at Falcon is very similar to and consistent with our targeting model at Rock Creek and Divide. The historic production and exploration at Falcon focused on silver mineralization in epithermal veins in the upper volcanic sequence. As with the Rock Creek and Divide properties, previous work at the Falcon prospect resulted in stratigraphic interpretations of the surface metasedimentary sequence which indicate the possibility of a Carlin-type host rock at relatively shallow depths (Roney Long, 2000 – The Falcon Mine Project). As such, we envision both shallow, high grade silver vein targets and deeper, disseminated Carlin-type Au (Ag) targets at Falcon.

Chris Wensley, Crestview's CEO, commented "The Falcon project is an important strategic addition to our other Tuscarora prospects, greatly expanding our footprint in the region. The Falcon prospect lies just over a mile south of the Rock Creek and Divide properties creating additional synergy with our exploration program and greatly enhancing our chances for success."

The terms of the agreement are as follows: 1.5% Net Smelter Royalty (NSR); payment of $500,000 (US$); and 2,000,000 CRS shares payable as follows:

* Initial payment of $10,000 within 10 days after the Effective Date

* 1 st Anniversary of $40,000 and 200,000 CRS shares on or before December 15, 2023

* 2 nd Anniversary of $75,000 and 300,000 CRS shares on or before December 15, 2024

* 3 rd Anniversary of $100,000 and 400,000 CRS shares on or before December 15, 2025

* 4 th Anniversary of $125,000 and 500,000 CRS shares on or before December 15, 2026

* 5 th Anniversary of $150,000 and 600,000 CRS shares on or before December 15, 2027, upon which the Option Exercise will be complete

The Agreement provides that Crestview will conduct a minimum of $250,000 of exploration activities over the term of the option agreement. The agreement also provides a buyout option of the 1.5% NSR for an additional $2,000,000.  The Option Agreement is conditional upon Crestview being satisfied as to the interest in the Property held by Optionor; receipt by Crestview of data, records and other information to allow Crestview to conduct Exploration of the Property; and receipt of Canadian Securities Exchange approval.

This News Release was prepared by J.A. Lowe, M.Sc. Geology, and has been approved by Brian T. Brewer, M.Sc., CPG #11508.

Brian T. Brewer is a Qualified Person as defined by NI 43-101 and has reviewed the scientific and technical disclosure included in this news release.

On Behalf of the Board of Directors,

Chris Wensley, CEO

About Crestview Exploration Inc:

Crestview Exploration is an experienced exploration company focused on the exploration and development of its portfolio of gold and silver properties located in prolific mining districts of Nevada.

Crestview's Rock Creek, Divide, Falcon, and Castile Mountain properties are situated in the Tuscarora Mountains of northern Elko County, Nevada. The company's Tuscarora properties total 6 patented and 196 u npatented lode mining claims, and comprise areas with local historic production and limited modern exploration.

The Cimarron project is located in the San Antonio Mountains of Nye County, Nevada, and is comprised of 31 unpatented lode mining claims, including control of 6 historically producing claims associated with the historic San Antonio mine.

For further information please contact:

Chris Wensley, Chief Executive Officer

Tel: 1-778-887-3900

Email: Chris@crestviewexploration.com

Forward-Looking Information

This news release includes certain information that may be deemed "forward-looking information" under applicable securities laws. All statements in this release, other than statements of historical facts, that address acquisition of the Property and future work thereon, mineral resource and reserve potential, exploration activities and events or developments that the Company expects is forward-looking information. Although the Company believes the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. There are certain factors that could cause actual results to differ materially from those in the forward-looking information. These include the results of the Company's due diligence investigations, market prices, exploration successes, continued availability of capital financing, and general economic, market or business conditions, and those additionally described in the Company's filings with the Canadian securities authorities.

Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking information. For more information on the Company, investors are encouraged to review the Company's public filings at www.sedar.com. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law .

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

Copyright (c) 2022 TheNewswire - All rights reserved.

News Provided by TheNewsWire via QuoteMedia

CRS:CNX
The Conversation (0)
Crestview Exploration Announces Final Results from the 2022 Sampling Program at the Rock Creek Gold Prospect in Elko County, Nevada

Crestview Exploration Announces Final Results from the 2022 Sampling Program at the Rock Creek Gold Prospect in Elko County, Nevada

(TheNewswire)

Crestview Exploration Inc.

Crestview Exploration Inc. ( CSE:CRS ) ( F RA :CE7 ) ("Crestview" or "the Company") is pleased to announce the final assay results for the 2022 surface sampling campaign at the Rock Creek gold prospect in the Tuscarora Mountains of Elko County, Nevada. A total of 118 samples were collected from across the Rock Creek property, and submitted for precious metal and trace element geochemistry

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Crestview Exploration Announces $500,000 Private Placement

Crestview Exploration Announces $500,000 Private Placement

(TheNewswire)

Crestview Exploration Inc.

Cre stview Exploration Inc. (CSE:CRS ) (FRA :CE7) ("Crestview" or "the Company") intends to undertake a non-brokered private placement financing to raise gross proceeds of up to $500,000 from the sale of up to 5 million units at a price of 10 cents per unit. Each unit shall be comprised of one common share of the company and one common share purchase warrant. Each warrant will entitle the holder thereof to acquire one common share from the company at a price of 20 cents per share for a period of 24 months from closing of the offering

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Crestview Exploration Announces Closing of First Tranche of Private Placement

Crestview Exploration Announces Closing of First Tranche of Private Placement

(TheNewswire)

Crestview Exploration Inc.

Calgary, Canada TheNewswire - November 3, 2022 Crestview Exploration Inc. ( CSE:CRS ) ( Frankfurt:CE7 ) (" Crestview " or the " Company ") is pleased to announce that is has closed, subject to Canadian Securities Exchange approval, the first tranche of its non-brokered private placement in the aggregate amount of $95,250 by issuing 635,000 units at a price of $0.15 per unit. Each unit consists of one common share of the Company and one share purchase warrant of the Company (the " Offering "). Each warrant is exercisable into one common share of the Company at a price of $0.30 for a term of two-years from the date of issuance. The Company intends to use the proceeds of this tranche for expanded geophysical surveying, claim expansion and general corporate purposes.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Crestview Exploration Inc. Announces Alan Morris to Join Advisory Board

Crestview Exploration Inc. Announces Alan Morris to Join Advisory Board

(TheNewswire)

Crestview Exploration Inc.

Calgary, Canada TheNewswire - July 19, 2022 Crestview Exploration Inc. ( CSE: CRS, Frankfurt: CE7 ), (CNSX:CRS.CN), (" Crestview " or the " Company ") welcomes Mr. Alan Morris (QP) to the Advisory Board of the Company.  Mr. Morris joins Crestview's team to act as an additional Qualified Person "QP" (as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects "NI 43-101") and to provide valued geological understanding and guidance.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
RUA GOLD to acquire Siren Gold's Reefton assets and become the dominant Reefton Goldfield explorer

RUA GOLD to acquire Siren Gold's Reefton assets and become the dominant Reefton Goldfield explorer

Rua Gold Inc. (CSE: RUA) (OTC: NZAUF) (WKN: A4010V) (" Rua Gold " or the " Company ") is pleased to announce it has entered into a definitive share purchase agreement (the " Agreement "), pursuant to which the Company will acquire 100% of the issued and outstanding shares of Reefton Resources Pty Limited (" Reefton "), a 100% owned subsidiary of Siren Gold Ltd. (ASX:SNG) (" Siren ") with tenements located adjacent to the Company's suite of properties in New Zealand's prolific Reefton Goldfield (the " Transaction ").

The Transaction will establish the Company as the dominant landholder in the Reefton Goldfield on New Zealand's South Island, with approximately 120,000 hectares (" ha ") of tenements. The district produced over two million ounces at gold grades ranging from 9 to 50g/t. The Reefton Goldfield is seeing a resurgence in interest, led by the construction of Federation Mining's Blackwater mine, which is expected to produce 70koz per annum at US$738 /oz AISC 1 .

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Element79 Gold Corp Announces Closing of Oversubscribed First Tranche of Private Placement

Element79 Gold Corp Announces Closing of Oversubscribed First Tranche of Private Placement

(TheNewswire)

Element79 Gold Corp.

Vancouver, British Columbia TheNewswire - July 12, 2024 - Further to the Corporation's previous Financing announcement released on July 3, 2024, Element79 Gold Corp (the "Company") (CSE: ELEM) (OTC: ELMGF) (FSE: 7YS0) is pleased to announce the successful completion of its first tranche of its placement for $288,815 of funding through its Non-Brokered Private placement.  This tranche of closing will see the Company issue a total of 1,255,717 Units for this tranche.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Zodiac Gold Adds Top Mining Analyst to Advisory Board

Zodiac Gold Adds Top Mining Analyst to Advisory Board

Zodiac Gold Inc. (TSXV: ZAU) ("Zodiac Gold" or the "Company") is proud to announce the appointment of Ryan Hanley to its Advisory Board. Mr. Hanley brings a wealth of experience and expertise to the company, with an impressive career spanning over 15 years in the mining and capital markets sectors. Adding a well-respected sell-side mining analyst like Mr. Hanley to the Company's Advisory Board is highly strategic for Zodiac Gold as his insights will provide critical guidance in our efforts to optimize the Company's investment appeal. Mr. Hanley will be joining Renaud Adams, current CEO of IAMGOLD Corp. (NYSE: IAG), and Michael Demeter, Managing Director of Fort Capital, on Zodiac Gold's Advisory Board.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Zodiac Gold Announces Closing of Second Tranche of Non-Brokered Private Placement and Further Upsizing of Private Placement

Zodiac Gold Announces Closing of Second Tranche of Non-Brokered Private Placement and Further Upsizing of Private Placement

Zodiac Gold Inc. (TSXV: ZAU) ("Zodiac Gold" or the "Company"), a West-African gold exploration company, is pleased to announce that it has closed the second tranche of its private placement (the "Offering") for gross proceeds of approximately CAD$506,560.00 (the "Second Tranche"), as previously announced on May 6, May 23, and June 25, 2024. The Company intends to use the net proceeds from the Offering to continue exploration and drilling at its flagship Todi Gold Project in the Republic of Liberia, West Africa and for working capital purposes.

In the Second Tranche the Company issued 5,065,600 units of the Company (the "Units") at a price of CAD$0.10 per Unit. Each Unit consists of one common share of the Company (a "Common Share") and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder thereof to acquire one Common Share (a "Warrant Share") at a price of CAD$0.20 per Warrant Share for a period of 24 months following the closing date of the Second Tranche.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Horizon Minerals Limited  Paddington Ore Sale Extension to Satisfy CP's

Horizon Minerals Limited Paddington Ore Sale Extension to Satisfy CP's

Perth, Australia (ABN Newswire) - Horizon Minerals Limited (ASX:HRZ) wishes to update the market on progress for the achievement of Conditions Precedent (CP's) pursuant to the Binding Term Sheet - Ore Sale Agreement (Term Sheet) between Paddington Gold Pty Ltd (PGPL) and Horizon Minerals Limited (Horizon) dated 3 May 2024 to treat 1.4Mt of Horizon ore from the Boorara Gold Project.

The Company and AMC Consultants have been working hard to complete the CP's pursuant to the Term Sheet during the past 45 business days, as there has been numerous iterations of mine plan optimisations, mine designs, and schedules leading to the final Ore Reserve Statement.

Discussions with Paddington representatives continue to be open and conducive to the completion of CP's and a long term relationship. As a result, Paddington Gold Pty Ltd (a wholly owned subsidiary of Norton Gold Fields Ltd) have provided an extension to the initial 45 business days, for a further 15 business days.

A second round of mining and haulage tenders based on a revised mine schedule went out last week, with submissions due on Friday 5 July 2024, most of the tender submissions have been received.



About Horizon Minerals Limited:

Horizon Minerals Limited (ASX:HRZ) is a gold exploration and mining company focussed on the Kalgoorlie and Menzies areas of Western Australia which are host to some of Australia's richest gold deposits. The Company is developing a mining pipeline of projects to generate cash and self-fund aggressive exploration, mine developments and further acquisitions. The Teal gold mine has been recently completed.

Horizon is aiming to significantly grow its JORC-Compliant Mineral Resources, complete definitive feasibility studies on core high grade open cut and underground projects and build a sustainable development pipeline.

Horizon has a number of joint ventures in place across multiple commodities and regions of Australia providing exposure to Vanadium, Copper, PGE's, Gold and Nickel/Cobalt. Our quality joint venture partners are earning in to our project areas by spending over $20 million over 5 years enabling focus on the gold business while maintaining upside leverage.

News Provided by ABN Newswire via QuoteMedia

Keep reading...Show less
Alma Gold Closes Private Placement and Announces Debt Settlement

Alma Gold Closes Private Placement and Announces Debt Settlement

Alma Gold Inc. (CSE: ALMA) ("Alma Gold" or the "Company") announced that further to its June 21, 2024 news release, it has closed the non-brokered private placement and issued 6,100,000 units ("Units") at a price of $0.05 per Unit for gross proceeds to the Company of $305,000 (the "Private Placement"). Each Unit is comprised of one common share (each a "Share") and one transferable common share purchase warrant (each a "Warrant"). Each Warrant will entitle the holder thereof to acquire one additional Share at a price of $0.08 for a period of three (3) years from issuance.

Proceeds received from the Private Placement will be used for general working capital purposes and to settle certain debts of the Company.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×