fbpx

Breaking News: Clarity Gold Mobilizes Field Crew to the Empirical Project

Clarity Gold Corp. (CSE: CLAR) is pleased to announce that it is mobilizing a field crew to the recently acquired expansion claims at its flagship Empirical Project, located 12 km south of Lillooet, British Columbia.

Field Crew Mobilization

The crew of three intends to conduct initial ground reconnaissance and sampling where applicable. The objective of the program will be to review the geology and mineralization of the recently acquired expansion claims which include 8 additional MINFILEs. The crew will attempt to locate and verify these historic mineral showings, and assess the suitability of the expansion claims’ exploration program design. The Company will also be conducting a grab sample program on targeted zones to locate additional areas of interest outside of the original Empirical Project claim group.

“Now that our crew has completed its initial reconnaissance on the Tyber and Gretna Green projects on Vancouver Island, we are very pleased to be mobilizing to evaluate the recently acquired mineral claims at our flagship Empirical Project,” said James Rogers, CEO of Clarity. “The Empirical Project now has multiple historic showings and we are looking forward to designing and carrying out field programs to follow up on encouraging historic results.”

Empirical Project

The Company’s flagship gold-copper-molybdenum porphyry project, the Empirical Project, located 12 km south of Lillooet, British Columbia, now totals 10,518 ha. The Empirical Project is situated in the Cordilleran Continental Arc which hosts 26 significant porphyry deposits, including Imperial Metal Corporation’s historic Huckleberry Mine and Noranda’s historic Babine Porphyry camp. Between 1981 – 1986, six out fifteen diamond drill holes intersected gold mineralization, including hole DD81-4 which assayed 3.67 g/t gold over 21 m from 36m. Previous exploration focused on molybdenite without an understanding or aim of targeting a larger porphyry system. For more information on the Empirical Project, please see the Company’s National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101“) Technical Report on the Empirical Project filed on SEDAR on March 24, 2020.

The recently acquired claims have multiple copper showings in the Southeast, including the Rickhill Showing where six surface rock samples collected in 1959 averaged 0.95% copper over 12.9 meters (Minfile 092INW022). Elevated copper in soil samples indicate that this zone of copper mineralization may be extended up to a total of 30 m (Skerl, 1959). In 1970, 538 soils were collected with copper intensities ranging between 6 ppm to 212 ppm (Assessment report 02530).

The additional ground to the southwest of the Empirical Project consists of two molybdenum showings namely, the Molybdenite Lake and Fyp showings where historic samples taken from quartz veins have assayed up to 0.32% molybdenum and 0.35 g/t gold (Nelson, J. (1985-10-01): B.C. Gold Reconnaissance 1985 – Lillooet Project – Final Report; Assessment Report 30875; Minfile 092ISW109, 092ISW110). Previous work has focused on the area’s molybdenum potential, with minimal exploration for gold.

The QP (as defined below) has not verified the results of the historic exploration and sampling on the new claims added to the Empirical Project’s property package, additional sampling will be required to verify the data.

Qualified Person

Mr. Rory Kutluoglu P. Geo. is the Qualified Person (“QP“) under NI 43-101 for the technical information in this news release and has reviewed the appropriate and available data for the Empirical Project and approves the technical contents of this news release. The QP intends to be part of the crew to mobilize to the additional Empirical Project expansion claims but cannot currently validate the historical databases nor the results of the historical work presented herein.

The Offering

The Company plans to undertake the Offering, a non-brokered private placement financing consisting of a minimum of 833,333 and a maximum of 2,500,000 Units at a price of $0.30 per Unit for gross proceeds of a minimum of $250,000 and up to $750,000. Each Unit shall consist of one common share (each, a “Share“) in the capital of Clarity and one half of one Share purchase warrant, with each whole warrant exercisable into one Share at a price of $0.35 per Share for a period of two years following the closing of the Offering (the “Closing“).

The proceeds from the Offering are expected to be used for general working capital purposes. Finder’s fees may be payable in connection with the Offering in accordance with applicable securities laws and the policies of the Canadian Securities Exchange.

All securities issued in connection with the Offering will be subject to a statutory hold period expiring four months and one day after closing of the Offering, as set out in National Instrument 45-102 – Resale of Securities.

None of the securities sold in connection with the Offering will be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Clarity

Clarity Gold Corp. is a Canadian exploration company focused on the acquisition, exploration and development of gold projects in Canada. The Company is focused on the exploration of its 10,518 ha Empirical Project located approximately 12 km south of Lillooet, BC, and has recently expanded its mineral property portfolio with the acquisitions of the Tyber and Gretna Green projects, both located on Vancouver Island, British Columbia. The Company is based in Vancouver, British Columbia, and is listed on the CSE under the symbol “CLAR”. To learn more about Clarity Gold Corp. and its projects please visit www.claritygoldcorp.com.

Sponsored Content Release. Click for Full Disclosure

  • Sponsored Content Release

    FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

    Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the ‘Site’) is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For clarity gold corp., financial and corporate news dissemination, FinancialBuzz.com expects to be compensated five thousand dollars by the company. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: http://www.financialbuzz.com.