Gespeg Consolidates its Position at Lac Arsenault
July 19 2018 - 10:15AM
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GESPEG COPPER RESOURCES INC. (TSX-V:GCR) (the
“
Company” or “
Gespeg”) announces
that it has entered into a purchase agreement (the
"Agreement") with an arm's length party (the
"Seller") to acquire a 100% undivided interest in
15 mining claims in the southern part of the Gaspé Peninsula, to
the North -West of the municipality of Port Daniel and North-East
of Bonaventure. These 15 claims compliment the claims already 100%
owned by the Company within its Lac Arsenault project (see press
release dated December 19, 2017).
Under the terms of the agreement, Gespeg
acquires the ownership of the claims in exchange of 100,000 shares
issued to the seller following the approval of the TSX Venture
Exchange.
About the Lac Arsenault
region
Historical data and exploration results
completed by Esso Resources between 1973 and 1978, indicates that
the original three veins identified in this region (the Baker,
Mersereau and Line 4W) host historical unclassified resources
of 40,000 tonnes grading 15.43 g/t Au, 197.00 g/t Ag, 6.6% Pb and
3.5% Zn (DV-85-08 page 7). This historical estimate is based on the
surface expression of the three veins only. Additionally, an
evaluation of four vein systems was performed by Peter Smith,
Ph.D., in October 1995, indicating that these known vein systems
contain historical unclassified resources of 135,510 tonnes grading
0.35 oz/tonne Au. Peter J. Hawley re-evaluated these historical
estimates in a report dated February 7, 1996, stating that the
Arsenault Prospect contains 220,042.52 short tonnes at 0.307
oz/tonne Au.
Mr. Sylvain Laberge, President and CEO of Gespeg
comments: "We are pleased to add this property to our portfolio,
allowing us to consolidate our position at Lac Arsenault and
in Gaspésie. We believe the addition of these claims will increase
the potential for new discoveries along the Grand Pabos fault. We
will begin exploration work at the property in the fall.
The Agreement is subject to the approval of the
TSX-Venture Exchange.
About Gespeg Copper Resources
Inc.: Gespeg is an exploration company with a focus on
copper, especially in a grossly underexplored region “Gaspé,
Québec”. With a dedicated management team, the Company’s goal
is to create shareholder wealth through the discovery of new
deposits.
Bernard-Olivier Martel, P. Geo, the Company's
Director of Exploration, is a qualified person (as such term is
defined in National Instrument 43-101 - Standards of Disclosure for
Mineral Projects) and has reviewed and approved the technical
disclosure contained in this news release.
GESPEG COPPER RESOURCES
INC.
(signed) “Sylvain Laberge”
Sylvain LabergePresident and
CEO514.380.5610514.702.9841Slaberge@gespegcopper.com
FORWARD LOOKING INFORMATION
Some of the statements contained in this press
release are forward-looking statements and information within the
meaning of applicable securities laws. Forward-looking statements
and information can be identified by the use of words such as
“expects”, “intends”, “is expected”, “potential”, “suggests” or
variations of such words or phrases, or statements that certain
actions, events or results “may”, “could”, “should”, “would”,
“might” or “will” be taken, occur or be achieved. Forward-looking
statements and information are not historical facts and are subject
to a number of risks and uncertainties beyond the Company’s
control. Actual results and developments are likely to differ, and
may differ materially, from those expressed or implied by the
forward-looking statements contained in this news release.
Accordingly, readers should not place undue reliance on
forward-looking statements. The Company undertakes no obligation to
update publicly or otherwise revise any forward-looking statements,
except as may be required by law.
Neither TSX Venture Exchange nor its
Regulations Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
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