Signature Resources Ltd. (TSXV:SGU, OTCQB:SGGTF) (“Signature” or the “Company”) is pleased to announce that it has appoint Dr. Dimitrios Kostopoulos to its advisory board.
Dr. Dimitrios Kostopoulos, is a professor of metamorphic petrology and thermodynamics at the National and Kapodistrian University of Athens, Greece, a mineral exploration consultant to Hellenic Mines SA (porphyry Cu-Μο-Au, epithermal Au-Ag-Sb and ophiolitic chromitite) and a geopark development consultant to City and Region Planning PC. Dimitri holds an MSc in ore deposits from Laurentian University, Sudbury, and a PhD in igneous geochemistry from the University of Newcastle-upon-Tyne, UK. At Newcastle, he earned his degree working under the supervision of two leading authorities on volcanic geochemistry and Cyprus-type VMS deposits at the time, Professors Julian Pearce and Joe Cann respectively. Prof. Kostopoulos has over 25 years in mineral exploration in SE Europe and NE Africa, has been a Shell UK Research Fellow at the University of Durham, UK, an Overseas Visiting Scholar at the University of Cambridge, UK, and the Project Generation Leader for Eldorado Gold in Greece. Dimitri has been senior scientist in several EU-funded projects, as well as invited researcher, speaker and project evaluator by renowned institutions in Germany, Switzerland, France and the UK.
“We are proud to be adding someone of Dr. Kostopoulos’ caliber to our advisory board. We have had numerous discussions with regards to our Lingman Lake Project, and felt he was the perfect fit for our organization,” stated Walter Hanych, CEO.
Dr. Kostopoulos’ stated, “It is with pleasure that I announce my accepting the position offered to become a member of the advisory board of Signature Resources. My decision was shaped upon reviewing the amount and consistency of past work performed on the company’s Lingman Lake Project and exploring its future with CEO Mr. Walter Hanych over the past eight months. The excellent level of communication built a frame of mutual appreciation, recognition and trust that secured my decision to join the advisory board.
Signature is looking ahead to a very promising gold asset, which has the potential of developing into a significant resource. Preliminary results of the recently completed airborne geophysical survey over the entire area of the company’s claims strongly supports such an inference. The acquired high-quality magnetic and electromagnetic data revealed coincident VLF conductor axes and contacts of linear magnetic bodies delineating 12 high-priority target zones occurring within a 16-km trend that follows the mineralized shear zone. These findings altogether clearly raise the original Lingman Lake advanced stage project, to a different size class, that of an exploration district. I am confident that a major gold camp is going to emerge within the next 3-5 years.”
The Lingman Lake gold property consists of four free hold patented claims and 762 single cell staked claims, comprising 15,096.3 hectares. The property hosts an historic estimate of 234,684 oz of gold* (1,063,904 tonnes grading 6.86 g/t with 2.73 gpt cut-off) and includes what has historically been referred to as the Lingman Lake Gold Mine, an underground substructure consisting of a 126.5-meter shaft, and 3-levels at 46-meters, 84-meters and 122-meters depths.
*This historical resource estimate is based on prior data and reports obtained and prepared by previous operators, and information provided by governmental authorities. A Qualified Person has not done sufficient work to verify the classification of the mineral resource estimates in accordance with current CIM categories. The Company is not treating the historical estimate as a current NI 43-101-compliant mineral resource estimate. Establishing a current mineral resource estimate on the Lingman Lake deposit will require further evaluation, which the Company and its consultants intend to complete in due course. Additional information regarding historical resource estimates is available in the technical report entitled, “Technical Report on the Lingman Lake Property” dated December 20, 2013, prepared by Walter Hanych, P.Geo., and Frank Racicot, P.Geo., available on the Company’s SEDAR profile at www.sedar.com
To find out more about Signature Resources Limited, visit our website at www.signatureresources.ca , or contact:
Chief Executive Officer
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This news release contains forward-looking statements which are not statements of historical fact. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. 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.