Hanstone Gold Corp. (TSXV: HANS) (FSE: HGO) ("Hanstone" or the
"Company"), is pleased to announce it has contracted Axiom
Exploration Group Ltd. (‘Axiom’) who has submitted their proposal
for the collection and processing of airborne magnetic data over
the Company’s Snip North Project near Stewart, British Columbia.
This airborne magnetic survey will be conducted
using a manned helicopter equipped with specially designed high
resolution magnetometers mounted in a tri-axial array. The survey
will be conducted over the a 102 line-km survey over a prospective
Area of Interest (AOI) utilizing a line spacing of 100 m and tie
lines spaced a 1000 m. Axiom will be responsible for the execution,
collecting and processing the magnetic data and report
compilation.
The AOI includes prospective target zones
outlined in previous satellite surveys from 2020 on the Snip North
property. Those survey results showed significant hydrothermal
alteration in addition to quartz and significant ferric oxides on
the property. Prospecting and sampling during 2021 summer season
verified those results with samples from several gossans. These
samples contain up to 5% disseminated sulphides within otherwise
variable hydrothermal alteration.
South of the Snip North Property, recent work on
the Company’s Doc Property uncovered several extensive mineralized
quartz vein structures that were coincidental with low magnetic
anomalies. Large diameter diamond drill core results from the 2021
season are pending.
Ray Marks, President and Chief Executive Officer
of the Company, stated: “Management is looking forward to the
definition of additional targets on its Snip North Property located
in the prolific Golden Triangle of Northern BC. We are confident
that data generated from the proposed airborne magnetic survey will
provide prospective targets for additional follow-up, prospecting
and potential future drill target delineation on the Snip North
Property.”
About Hanstone Gold
Hanstone is a precious and base metals explorer
with its current focus on the Doc and Snip North Projects optimally
located in the heart of the prolific mineralized area of British
Columbia known as the Golden Triangle. The Golden Triangle is an
area which hosts numerous producing and past-producing mines and
several large deposits that are approaching potential development.
The Company holds a 100% earn in option in the 1,704-hectare Doc
Project and owns a 100% interest in the 3,336-hectare Snip North
Project. Hanstone has a highly experienced team of industry
professionals with a successful track record in the discovery of
gold deposits and in developing mineral exploration projects
through discovery to production.
For Further Information
Contact:Carrie Howes, Director of
Communications,
+1-(778)-551-8488, carrie@hanstonegold.comOr visit
the Company’s website at www.hanstonegold.com
Cautionary Statement Regarding Forward
Looking Information:
The information contained herein contains
“forward-looking statements” within the meaning of the United
States Private Securities Litigation Reform Act of 1995 and
“forward-looking information” within the meaning of applicable
Canadian securities legislation. “Forward-looking information”
includes, but is not limited to, statements with respect to the
activities, events, or developments that the Company expects or
anticipates will or may occur in the future. Generally, but not
always, forward-looking information and statements can be
identified using words such as “plans”, “expects”, “is expected”,
“budget”, “scheduled”, “estimates”, “forecasts”, “intends”,
“anticipates”, or “believes” or the negative connotation thereof or
variations of such words and phrases or state that certain actions,
events, or results “may”, “could”, “would”, “might” or “will be
taken”, “occur” or “be achieved” or the negative connotation
thereof.
Forward-looking information and statements are
based on the then current expectations, beliefs, assumptions,
estimates and forecasts about Hanstone’s business and the industry
and markets in which it operates and will operate. Forward-looking
information and statements are made based upon numerous
assumptions, including among others, the results of planned
exploration activities are as anticipated, the price of gold, the
cost of planned exploration activities, that financing will be
available if needed and on reasonable terms, that third party
contractors, equipment, supplies and governmental and other
approvals required to conduct Hanstone’s planned exploration
activities will be available on reasonable terms and in a timely
manner and that general business and economic conditions will not
change in a material adverse manner. Although the assumptions made
by the Company in providing forward-looking information or making
forward-looking statements are considered reasonable by management
at the time, there can be no assurance that such assumptions will
prove to be accurate.
Forward-looking information and statements also
involve known and unknown risks and uncertainties and other
factors, which may cause actual results, performances, and
achievements of Hanstone to differ materially from any projections
of results, performances, and achievements of Hanstone expressed or
implied by such forward-looking information or statements,
including, among others, negative operating cash flow and
dependence on third party financing, uncertainty of the
availability of additional financing, the risk that future assay
results will not confirm previous results, imprecision of mineral
resource estimates, the uncertainty of commodity prices, aboriginal
title and consultation issues, exploration risks, reliance upon key
management and other personnel, deficiencies in the Company’s title
to its properties, uninsurable risks, failure to manage conflicts
of interest, failure to obtain or maintain required permits and
licenses, changes in laws, regulations and policy, competition for
resources and financing, or other approvals
Although the Company has attempted to identify
important factors that could cause actual results to differ
materially from those contained in the forward-looking information
or implied by forward-looking information, there may be other
factors that cause results not to be as anticipated, estimated or
intended.
There can be no assurance that forward-looking
information and statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated, estimated or intended. Accordingly, readers should not
place undue reliance on forward-looking statements or information.
The Company undertakes no obligation to update or reissue
forward-looking information because of new information or events
except as required by applicable securities laws
Neither TSX Venture Exchange nor its
Regulation 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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