TORONTO, ON / ACCESSWIRE / December 14, 2020 / AurCrest Gold Inc. (the "Company" or "AurCrest") (TSX-V:AGO) is pleased to announce the it has purchased the 2% net smelter returns royalty on the Richardson Lake Gold Property in consideration for the payment of $60,000. The Company now holds a 100% interest in the property.
The Richardson Lake Gold Property, within the Birch-Uchi Greenstone Belt in the Red Lake Mining District, is a core asset for the Company and the focus of several past exploration programs.
The Company also wishes to advise that the geochemistry field program announced by the Company on November 17, 2020 has been completed, and that all samples have been submitted to Activation Laboratories Ltd. ("ActLabs") for Spatiotemporal Geochemical Hydrocarbon ("SGH") exploration geochemistry analytical services. The completed field program and pending analysis have been intended to provide further delineation of gold targets previously identified by the proprietary CARDS AI data acquired from Windfall Geotek Inc. ("Windfall"), as announced by the Company on September 2, 2020. The CARDS AI data indicates that the Company's Ranger Lake Gold Property encompasses several high priority gold targets. The ActLabs SGH analysis will build further guidance for a drill program on the property anticipated for Winter 2021.
AurCrest Gold is a leader in the First Nations advancement into shared participation and inclusion in the regional mining opportunities and counts as its board of directors and management, past and present, many indigenous business and cultural leaders. AurCrest is proud to play a leading role in the gold exploration of Northwestern Ontario, especially in the Birch-Uchi Greenstone Belt and the Red Lake mining district, as it forges new business relationships between Canada's founding cultures.
About AurCrest Gold Inc.
AurCrest is a mineral exploration company focused on the acquisition, exploration, and development of gold properties. AurCrest has a portfolio of properties in Ontario, which include the Richardson Lake and Bridget Lake gold properties.
FOR FURTHER INFORMATION PLEASE CONTACT:
AurCrest Gold Inc.
President and C.E.O
Director of Business Development
Forward Looking Statement:
Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various risks. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. AurCrest undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.
Neither 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 release.
SOURCE: AurCrest Gold Inc.
View source version on accesswire.com: