VANCOUVER, BC / ACCESSWIRE / June 15, 2021 / (CSE:JNC)(OTC PINK:JNCCF)(FSE:5VH) - JNC Resources Inc. ("JNC" or the "Company") is pleased to announce that the Company has signed a Letter of Intent ("LOI") with Aussie Precious Metals Corp. ("APMC"). APMC is an Ontario corporation that owns two large historically producing land packages in the state of New South Wales ("NSW"), Australia. The addition of the properties to JNC's NSW portfolio complements one the Company's recently announced RooGold property which covers the northern portion of the Copeland goldfield, located approximately 65km south-east across the same mineralized system as the two APMC properties.
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 Trilby (ELA 6237) comprising of 215 km2 and is located in the western portion of the New England orogenic terrain. The area spans a 35km long section of the serpentanized Peel-Manning Fault system within the eastern boundary of the New England orogenic terrain. The area includes the Trilby historic gold mine, consisting of swarmed meta-hydrothermal quartz veins with visible gold noted. The geological setting is highly prospective for Listwanite associated gold mineralization. The Peel-Manning Fault zone is significantly gold endowed to the north (Bingara Alluvial field) and the south (Nundle gold field) of the application area. Hard rock gold lode deposits are also abundant across the fault suite. Hence, the potential for significant listwanite associated orogenic precious metal deposits are considered viable exploration targets.
The second property is known as Lorne (ELA 6234) comprising of 102.5 km2, which is located in the western portion of the New England orogenic belt. The area spans 12 strike kilometres of the significantly gold mineralized regional Peel-Manning fault system. Mineralization is of an orogenic or lode gold type and is characterized by quartz veins which may host high grade gold shoots. The area includes twenty-eight past producing gold mines and prospects. Historical production and prospecting records define a 1 km wide, 7.5 km long gold trend. Historical hard-rock production grades of up to 15 g/t Au are cited on the NSW MinView website. The historic mines include the past producing Marquis of Lorne orogenic gold-antimony mine, with over 500 m of historical underground workings and historic estimated reserves of 50,000 oz Au. Historic drill hole intercepts of up to 5 g/t Au over 5m are recorded across this zone from 5 drill holes, according to NSW government archive records.
"We are very excited about the opportunity to expand our land holdings with these two premier past producing properties in the mining friendly jurisdiction of Australia. These properties, together with the SPML and RooGold properties, provide JNC with a comprehensive portfolio with many high level potential targets in a proven mineral resource region. To have an opportunity to build out such an impressive land package in a great region speaks to the commitment in building a world class miner. We will continue to leverage off of our relationships to add shareholder value to JNC Resources," stated CEO, Michael Mulberry, "Australia has a long history of being one of the largest, most prolific producers of gold."
Please note that while the Company considers the historic results quoted above from the two properties to be accurate, readers are cautioned that a Qualified Person has been unable to verify the laboratory involved in the analysis of these samples, and no documentation was available regarding quality control procedures utilized in the analysis.
Qualified Persons
Warren Robb, P.Geo., is the qualified person for the Company as defined in National Instrument 43-101 and has reviewed the technical information presented within this news release.
About JNC Resources Inc.
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. JNC has recently acquired the Malebo and Solomon claims in the province of New South Wales, Australia, with an exploration program planned in 2021. 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.
For further information, please contact:
Michael Mulberry
T: 778-855-5001
[email protected]
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.