Jade Leader Corp. (TSXV:JADE) (“Jade Leader” or “the Company”) is pleased to provide an update on its ongoing Jade exploration efforts in both Washington and Wyoming.
DJ Project, Washington State
Jade. The field program conducted in July and August has confirmed a new in-situ surface nephrite Jade occurrence; the widest found to date on the Property. This new occurrence consists of a Jade bearing contact zone between serpentinites and white rhodingites; essentially identical to the Lode 2 target drilled in October/November 2019. Partial to complete metamorphism of the host rock to Jade occurs over widths of up to 2.5 metres and has been traced at surface for some 11 metres before disappearing under surface cover.
Although strong surface weathering affects the clarity of the Jade in outcrop, all three of the Jade types recognized in the Lode 2 target drilling have been identified in this new zone, including: fine grained vein-type Jade; Jade exhibiting diffuse chatoyancy; and replacement Jade with a mottled texture. In addition, seams of Jade to 4-5 cm in width, showing botryoidal (bubbly) textures, which can have significant collector appeal, have also been recognized cutting the zone.
In addition to having similar geology to the Lode 2 zone, this new showing is strongly linked to it by a consistently intense, sharp linear airborne geophysical signature running the 1,470 feet (450 meters) between the two showings. Our follow-up field investigation of anomalies generated in similar airborne surveys on our Wyoming Jade property was very successful in tracing Jade-bearing structures through alluvial cover (See Press Release 19-03, June 12, 2019) and the sharp anomalies defined here at DJ suggest geophysics may also be very effective for tracing Jade-bearing structures in areas with extensive forest cover. The Company believes that further work has a strong possibility of linking and extending our currently known Jade zones, and potentially revealing completely blind Jade zones.
Rhodonite. In parallel with its Jade exploration work, the Company has encountered large masses of Rhodonite, a light grey to pink to yellow semi-precious gemstone, with significant commercial demand. To assess its suitability for fine art carvings, a large single block weighing some 10,000 pounds (4,545 Kg) was hand-harvested recently and trimmed to approximately 6,000 pounds/2,700 Kg (all cuttings from the stone were saved and securely stored). This block was shipped to the internationally recognized fine art stone Sculptor Georg Schmerholz (www.schmerholz.com) for assessment and sculpting. Amongst other recognitions, Georg has earned 3 gold and 2 silver medals for his Jade works between 2014 and 2017 at the Zi Gang Cup Jade and Stone Works Competition and Exhibition, held in Suzhou, Jiangsu province, China. Photos of this block, and part of the evaluation process for carving can be seen on our new “DJ Project Rhodonite Photo Gallery”, through the Photo Gallery opening page button on our website at Jadeleader.ca.
The Company has received its Acceptance of Notice from the BLM (Bureau of Land Management) for its previously announced planned trenching program on its Wyoming Jade project (See Press Release 19-04, July 15, 2019) and is currently finalizing the last permitting steps, including environmental reclamation bonding, in order to proceed with the program during the September-October operational window defined for the project.
Jade Leader has also granted, under its Stock Option Plan, options to its Directors, Officers and Consultants to purchase up to 1,230,000 common shares for a period of three years commencing on August 19, 2019 at an exercise price of $0.30 per share.
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.