Rio Grande Acquires Strategic Silica Property in Southeastern BC
28 Janeiro 2014 - 12:50PM
Marketwired
Rio Grande Acquires Strategic Silica Property in Southeastern BC
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan 28, 2014) - Rio
Grande Mining Corp. (TSX-VENTURE:RGV) (the "Company") is pleased to
announce that it has entered into an agreement to purchase a 100%
interest in the Zim Frac silica claim (the "Zim Frac Claim")
located near the town of Golden in south-eastern British Columbia.
The property comprises an area of 807.77 hectares that covers over
4 kilometers of the favourable Mt. Wilson Quartzite Formation
(MWQF), known to consist of fine-grained higher purity white
quartzite.
The MWQF is recognized for hosting economic deposits of friable
and lump quartzites of greater than 99.5% silicon dioxide with two
fully permitted and operating silica mines. The Geological Survey
of Canada mapped the Golden area with focus on the Moberly silica
camp, which included the Zim Frac Claims in 1980 (GSC Map 1497A).
In 2010 fourteen samples collected from the property during a
reconnaissance exploration program by previous operators ranged
from 98.835% to 99.4%, with twelve of the samples grading over 99%.
Locally, the MWQF is estimated to be at least 200 meters thick
(Lindinger, 2010). The claims lie within 3 to 5 km northeast of
Golden, British Columbia, a regional transportation center that is
on the Trans Canada Highway and includes a major rail yard
facility.
The adjacent Moberly silica mine is presently engineering a new
silica frac sand plant to supplement their current production. The
Hunt Silica mine, which lies 12 kilometers to the south, has
previously shipped polysilicon grade silica to a silicon refinery
in Washington State.
The Company is purchasing a 100% interest in the Zim Frac Claims
from Zimtu Capital Corp. and Cannon Bridge Capital Corp., two arm's
length vendors, in consideration for the issuance of 1,000,000
common shares to each, for a total of 2,000,000 common shares, and
subject to a 2% NSR. The terms of the sale are subject to the
acceptance of the TSX Venture Exchange.
The company is proposing a bulk sampling program and two shallow
drill holes in order to confirm the MWQF's depth and thickness
within the property.
Adrian Lamoureux, President & CEO stated, "Many industry
experts see the silica sector having strong growth potential as
demand increases from solar panels and other high tech
applications".
The Company is also pleased to announce the appointment of
Thomas Hasek, P. Eng. to the "Board of Advisors". Mr. Hasek is a
geologist with over 40 years in the mining industry. The technical
information in this news release has been reviewed and accepted by
Thomas Hasek, P. Eng., a Qualified Person in accordance with NI
43-101.
About Silica
Silicon dioxide (SiO2), also known as silica, has many
applications, depending on purity. High-grade silicon metal and
polysilicon are used in many high tech applications including
microelectronics, computer chips, and solar panels.
On behalf of the Board of Directors,
Adrian Lamoureux, President & CEO
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. Statements made in this news release
that are not historical facts are "forward-looking statements", and
readers are cautioned that any such statements are not guarantees
of future performance, and that actual developments or results, may
vary materially from those in these "forward-looking"
statements.
Rio Grande Mining Corp.Adrian LamoureuxPresident & CEO+1 604
669 9330info@riograndemining.com
92 Resources Corp. (TSXV:RGV)
Gráfico Histórico do Ativo
De Ago 2024 até Set 2024
92 Resources Corp. (TSXV:RGV)
Gráfico Histórico do Ativo
De Set 2023 até Set 2024