GPM Metals Completes Field Work Program and Provides an Update of Walker Gossan Zinc Project
October 25 2019 - 9:38AM
GPM Metals Inc. (TSXV:GPM) (the “Company” or
“GPM”) provides an update to its Walker Gossan
Project, Arnhem Land, Australia.
GPM Metals is pleased to announce that the company has completed
the field work program on Exploration License (EL) 24305 & 385
that was proposed to the Northern Land Council (NLC) and The
Traditional Owners of the land at the meeting held at Gapuwiyak on
the 13th May 2019.
GPM personnel mobilized and set a camp at EL 24305 on 10
September 2019 and conducted a two week mapping and sampling
program. Peter Mullens, CEO; and Greg Duncan, Australian Manager
were both present during this field program. Two community members
of the Local Traditional Landowners were also present as monitors.
This work confirmed the belief that GPM during its 2016 drill
program drilled into a large iron rich zone within dolomitic
sediments which potentially forms the siderite rich outer halo to a
large “SEDEX style” base metal deposit.
GPM will further review this field work before planning further
field work and discussing the results with the NLC and The Local
Traditional landowners.
The Project is the subject of farm-in and joint venture
agreement between GPM (and its Australian subsidiary) and Rio Tinto
Exploration Pty Limited(“RTX”) executed in January 2014, pursuant
to which GPM can earn a 75% interest in the Project through meeting
staged exploration expenditure requirements. The Project tenure is
held by RTX with GPM acting as the operator and manager of
exploration, community relations and title grant (see January 27,
2014 press release of the Company available on SEDAR
at www.sedar.com).
Title Deed, Work Program and Exploration License (EL 24305)
approval was granted in November 2015 by the NLC after a series of
meetings and consultations with the TLO’s and GPM Metals in
Numbulwar and Darwin.
The Project lies within one of the great metallogenic provinces
of the world, the North Australian Zinc Province (NAZP); which
currently provides 30% of the world zinc production from a number
of significant silver, lead, zinc deposits; including the Mt. Isa,
George Fisher, McArthur River and Century Mines.
The exploration target is a large, strata bound, sediment hosted
lead – zinc deposit. Field work planned for 2019 will consist of
geological mapping, geochemical sampling and prospecting with the
view of identifying vectors towards the center of the mineralized
system. To date GPM geologists believe they previously identified
and drilled into the iron rich, siderite, outer halo to potentially
a major mineralized strata bound Lead Zinc deposit.
About GPM Metals Inc.
GPM Metals is a zinc focused exploration company with offices in
Toronto and Brisbane.
The Company’s current holdings include the district scale Walker
Gossan Project, NT, Australia, a joint venture with Rio Tinto
Exploration Pty Limited.
The Walker Gossan exploration properties have considerable
potential to host significant zinc resources.
All scientific and technical information in this press release
has been prepared under the supervision of Dan Noone, (Chairman of
GPM), a “qualified person” within the meaning of National
Instrument 43-101. Mr. Noone (B.Sc Geology, MBA) is a member of the
Australian Institute of Geoscientists.
CONTACT INFORMATION
For further information contact: GPM Metals Inc. Peter Mullens,
CEO Suite 1101 – 141 Adelaide Street West, Toronto, Ontario M5H 3L5
Telephone : + 416 628-5904 Email: info@gpmmetals.ca
Forward Looking Statements
This news release contains certain forward-looking information
and statements within the meaning of applicable securities laws.
The use of any of the words “expect”, “anticipate”, “continue”,
“estimate”, “may”, “might”, “will”, “project”, “should”, “believe”,
“plans”, “intends” and similar expressions are intended to identify
forward-looking information and/or statements.
Forward-looking statements and/or information are based on a number
of material factors, expectations and/or assumptions of GPM which
have been used to develop such statements and/or information but
which may prove to be incorrect. Although GPM believes that the
expectations reflected in such forward-looking statements and/or
information are reasonable, undue reliance should not be placed on
forward-looking statements as GPM can give no assurance that such
expectations will prove to be correct. In addition to other factors
and assumptions which may be identified herein, assumptions have
been made regarding, among other things: results from planned
exploration and drilling activities; GPM’s future plans for
operational expenditures; the accuracy of the interpretations of
exploration and drilling activity results; availability of
financing to fund current and future plans and expenditures; the
impact of increasing competition; the general stability of the
economic and political environment in which GPM has property
interests; the general continuance of current industry conditions;
aboriginal matters; the timely receipt of any required regulatory
approvals; the ability of GPM to obtain qualified staff, equipment
and/or services in a timely and cost efficient manner; the ability
of the operator of each project in which GPM has property interests
to operate in a safe, efficient and/or effective manner and to
fulfill its respective obligations and current plans; future
commodity prices; currency, exchange and/or interest rates; and the
regulatory framework regarding royalties, taxes and/or
environmental matters in the jurisdictions in which GPM has
property interests. The forward-looking information and statements
included in this news release are not guarantees of future
performance and should not be unduly relied upon. Such information
and/or statements, including the assumptions made in respect
thereof, involve known and unknown risks, uncertainties and other
factors that may cause actual results and/or events to differ
materially from those anticipated in such forward-looking
information and/or statements including, without limitation: risks
associated with the uncertainty of exploration results and
estimates, currency fluctuations, the uncertainty of conducting
operations under a foreign regime, exploration risk, the
uncertainty of obtaining all applicable regulatory approvals, the
availability of labour and/or equipment, the fluctuating prices of
commodities, the availability of financing and GPM’s dependence on
its management personnel, other participants in the property areas
and/or certain other risks detailed from time-to-time in GPM’s
public disclosure documents, (including, without limitation, those
risks identified in this news release and GPM’s current
management’s discussion and analysis). Furthermore, the
forward-looking statements contained in this news release are made
as at the date of this news release and the Company does not
undertake any obligations to publicly update and/or revise any of
the included forward-looking statements, whether as a result of
additional information, future events and/or otherwise, except as
may be required by applicable securities laws.
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 and / or
accuracy of this release
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