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TORONTO, Feb. 03, 2025 (GLOBE NEWSWIRE) -- Urbana Corporation (TSX & CSE: URB & URB.A)
Urbana Corporation is pleased to announce that it plans to conduct a winter drilling program on its 100% owned "Urban Township Project" in the coming weeks (the "Winter Drilling Program"). The objectives are (a) determining if the gold mineralization recently found near the boundary of Urbana's gold project continues onto Urbana's ground, (b) extending historical gold discoveries on strike and at depth in three different areas, and (c) testing select geophysical and geological targets for mineralization.
The Winter Drilling Program consists of up to 4,150 metres of drilling in the southern sector of Urbana's claim group. The project is located near existing infrastructure, is accessible by road and is located between the nearby Windfall and Barry gold deposits, along the same geological feature.
The areas surrounding Urbana's mining property have seen radical changes in recent years with the consolidation of claims into a couple of major companies, the advancement of gold deposits by Osisko Mining Inc. and Bonterra Resources, and most recently the acquisition of Osisko Mining Inc. by Gold Fields Limited, a large gold producer based out of South Africa with properties surrounding Urbana's centrally located property. Management is excited about the prospect of significant findings from the Winter Drilling Program.
A review of additional data located in the northern sector of the project is underway. Data collected shows numerous gold prospects throughout the area which warrant a potential second drill program in late summer. PDF versions of the documents are available at www.urbanacorp.com and at www.sedarplus.ca.
Qualified Persons
Technical and scientific aspects of this news release have been reviewed, verified, and approved by Mathieu Stephens, P.Geo., the Qualified Person, as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.
For further information contact:
Elizabeth Naumovski, Investor Relations
(416) 595-9106 enaumovski@urbanacorp.com
150 KING ST. WEST, SUITE 1702, TORONTO, ONTARIO M5H 1J9
TEL: 416-595-9106 FAX: 416-862-2498 www.urbanacorp.com
