VANCOUVER, BC / ACCESSWIRE / December 31, 2020 / JNC Resources Inc. (CSE:JNC) ("JNC" or the "Company") is pleased to reflect on a very successful 2020. JNC completed its initial public offering on the Canadian Securities Exchange in April 2020 with Mackie Research Capital Corporation acting as the agent. Subsequently, the Company completed international listings on both the US Markets (OTC PINK:JNCCF) and in Germany (Frankfurt:5VH). JNC firmly believes that by listing on these three exchanges, it increases the Company's overall market presence and shareholder awareness as a growing global exploration company.
JNC was incorporated with its Triple 9 project in British Columbia. The Triple 9 Property consists of 2 mineral claims covering approximately 717 hectares, 6 km northwest of Sicamous, British Columbia. The Company carried out an initial exploration program in May, 2019, where we were able to complete a very successful geochemical survey before COVID 19 brought the world to a halt. Unfortunately, this forced JNC to put the Triple 9 project on hold until restrictions are eased.
With new restrictions and complications in place to prevent the further spread of COVID 19, the Company made a decision to expand its portfolio, by tapping into management's 50 years of experience and relationships in the mining sector. COVID 19 restrictions resulted in focusing on projects with partners that would be able to operate as developers in areas that would allow for work to continue during these challenging times.
The Company's first strategic move was the gold rich Esmerelda County in Nevada, USA. We were very lucky to have great timing to partner with Richard Kern with whom we have had a long-standing relationship and obtained an option for a gold project named the Imperial Property from Great Basin Resources. The Imperial Project is a vein and sediment hosted gold project comprising 35 unpatented mining claims covering a total of 660 acres. The project is located 18 miles northeast of Goldfield, Nevada in the Silver Peak District within the Walker Lane. Silver Peak is the second largest gold producing area in Esmeralda County after Goldfield. Historic drilling has intersected both high-grade vein hosted and heap leachable Carlin style mineralization which needs additional drilling. The property is fully permitted and bonded for the next phase of exploration.
The project presents three major targets for exploration. The first target, along the Imperial Fault, is high grade veins and lower grade decalcified rock in the area of previous mining. The second target is an IP anomaly which has no previous drilling. Finally, the southern target is a zone where the favorable host rock has dipped under other units, but jasperoids at surface show fluids have flowed through the favorable host at depth. There is potential for both high grade veins and Carlin style mineralization in this area which has also never been drilled. Also of interest are the high copper values found in the eastern portion of the project area, where some porphyry copper exploration was done in the 1960's. An intrusive at depth could have Battle Mountain style (Fortitude) gold deposits surrounding it. Geophysical surveys are needed to determine the potential for this type of target.
Again, leveraging our relationships, we signed a successful Letter of Intent (LOI) with Southern Precious Metals Ltd. (SPML) in early December, 2020. Since signing the LOI we have started our due diligence and through that process have advanced CAD $75,000 to SPML. SPML is an Ontario corporation that owns two large historically producing land packages in the state of New South Wales ("NSW"), Australia, with historical grades of 132 g/t Au and 1648 g/t Ag. NSW is one of the most prolific gold territories for exploration and production since the 1850s. It is the second largest gold producing area in Australia with a gold endowment exceeding 3160 tonnes. The New South Wales resources sector is vibrant, with world-class deposits, a highly skilled workforce and a well-earned reputation for safe, responsible and innovative mining practices.
The first of the two properties is known as Malebo (ELA 6123) and is located in the central-south region of the Lachlan Orogenic belt. The Lachlan Orogen region of New South Wales Victoria and eastern Tasmania is comprised of a series of prolifically mineralized accretionary terranes which host a number of economically important mineralized deposits. The Malebo Exploration License straddles over 40 km of this structure and hosts five historic gold mines and prospects.
The second property is Solomons (ELA 6115) which is located in the northeast of the New England Orogenic Terrane region. The New England Orogenic Terrane comprises island-arc and continental-arc gold-mineralized belts, which host extensive alluvial gold fields and a number of economically important gold deposits. The license includes 12 historic gold mines and prospects which follow a large linear NE/SE trend yet the license is largely under-explored. Historical records from small-scale production cite grades of up to 132 g/t Au and 1648 g/t Ag.
"I firmly believe we are executing the necessary steps required for JNC Resources to become a successful and global exploration company. I am very excited to put the difficult working conditions of 2020 behind us and move forward with great strides to explore and develop the world class holdings we have acquired through 2020. I look forward to executing the vision we have planned for 2021," stated Mike Mulberry, CEO of JNC.
JNC is a North American-based junior venture mineral exploration company with a goal to develop under-explored properties and benefit from deal flow generated by strategic partnerships and growth opportunities. Currently the Company is developing its 100% optioned Triple 9 Project in South Central British Columbia. The Triple 9 Project is a gold property with a new discovery of high levels of base metals, located 20 km from the town of Sicamous. JNC also has an option agreement with Great Basin Resources to acquire 100% control and interest in the Imperial Project in Nevada. The Imperial Property is located in Esmeralda County, Nevada, which has been a prolific mining area in the state. The Property is in close proximity to the town of Goldfields, where gold production occurred in the early part of the 20th century. The Company is also in the process of completing its due diligence on the Malebo and Solomons projects in New South Wales, Australia.
For further information please contact:
Michael Mulberry
T: 778-855-5001
info@jncresources.com
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur.
Although the Company believes that the expectations reflected in applicable forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in such statements.
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SOURCE: JNC Resources Inc.
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