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Enforcer Gold terminates option agreement on the Montalembert Gold Property
Aug. 17, 2018 06:34AM PST
Precious Metals
Enforcer Gold Corp. (TSXV:VEIN) announces that it has determined not to proceed with its option to acquire a 100% interest in the Montalembert Property located in Quebec. Pursuant to the Option Agreement dated November 16, 2016, Enforcer has provided ninety (90) days written notice to Globex Mining Enterprises Inc. (“Globex”) (TSX: GMX) to terminate the option, effective November 15, 2018.
Enforcer Gold Corp. (TSXV:VEIN) announces that it has determined not to proceed with its option to acquire a 100% interest in the Montalembert Property located in Quebec. Pursuant to the Option Agreement dated November 16, 2016, Enforcer has provided ninety (90) days written notice to Globex Mining Enterprises Inc. (“Globex”) (TSX: GMX) to terminate the option, effective November 15, 2018.
Enforcer’s comprehensive 2017-18 exploration program at Montalembert included a 1,711 line- kilometre high-resolution aeromagnetic VLF-EM survey, a 45 line-kilometre induced polarization (“IP”) survey over the historic vein occurrences, stripping and channel sampling along the Galena-No.2-3 veins followed by 45 HQ core holes totalling 5,784 m. Additionally, reconnaissance prospecting lead to the discovery of the OR79 zone, which was further tested by an IP survey and 18 NQ core holes totalling 1,749 m. Overall, assay results from drill testing along each of the vein structures were significantly lower than results obtained from surface sampling and a very strong nugget effect on the distribution of gold is apparent. After a thorough review of the 2017-18 exploration results, the Company has determined that no further exploration is warranted by Enforcer on the Montalembert property.
Enforcer retains a 100% interest in its Waswanipi Gold Project, a 19,352-hectare (47,818-acre) property acquired in 2018 that adjoins to the west and northeast of the Montalembert Property. The land position covers a classic Abitibi greenstone belt sequence of deformed intermediate to mafic volcanics, felsic to mafic intrusive rocks and feldspar porphyry. Based on government assessment files, very limited exploration for gold has been conducted over the project area. Of this land package, Globex retains a 1.5% NSR on all claims acquired within 3 km of the external boundary of the Montalembert Property (see press release dated February 1, 2018).
About Enforcer Gold Corp
Enforcer Gold Corp is a Canadian-based mineral exploration company and is earning a 50% interest in the advanced-stage Roger porphyry gold-copper project from SOQUEM. Roger hosts the Mop-II gold-copper deposit located 5 km from the mining center of Chibougamau, Quebec in the prolific Abitibi greenstone belt.
Enforcer’s VP Exploration, Antoine Fournier, PGeo, is a Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the content of this news release.
Neither the 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 news release.
Click here to connect with Enforcer Gold Corp. (TSXV:VEIN) for an Investor Presentation.
Source: www.newswire.ca
