E2Gold Completes Airborne Magnetic Survey on Its Hawkins Project; Enters Into Market Support Agreement
19 Enero 2021 - 8:39AM
E2Gold Inc. (TSXV: ETU) (the “
Company” or
“
E2Gold”) is pleased to report that it has
completed a large helicopter-borne magnetic survey on its Hawkins
gold project in northern Ontario.
The detailed magnetic survey, which collected
1,139 km of data, was conducted by Scott Hogg and Associates. It
covers the area around the McKinnon Zone, a shallow, 3.5 km long,
Inferred Mineral Resource of 328,800 ounces of gold (6.2 million
tonnes grading 1.65 g/t gold)i, and is providing E2Gold geologists
and geophysicists with added data and a strong base for drill hole
planning.
Eric Owens, President and CEO, said, ”It is a
top-quality survey, and yields a level of detail previously
unattained. The results will form a basis for all future work and
interpretations. We have a crew onsite now preparing for our first
drill program set to begin in February.”
Figure 1: Total Magnetic Intensity map
from 2020 Airborne Survey, McKinnon Zone area, Hawkins Gold
Projecthttps://www.globenewswire.com/NewsRoom/AttachmentNg/792dc2a9-46ee-4372-a56f-c7d85433374d
In other matters, the Company has entered into
an agreement (the “Support Agreement”) with
Integral Wealth Securities Limited (“Integral”) to
provide market support services to the Company, including market
trading and such other shareholder communication and other matters
as may be requested by the Company from time to time, in
consideration of a cash payment to Integral of $5,500 per month
plus applicable taxes. Integral will trade shares of E2Gold Inc.,
on the TSX Venture Exchange (“TSXV”) with the
objective of maintaining a reasonable market and improving the
liquidity of E2Gold’s common shares. The agreement is effective
January 15, 2021, has a term of three months, will renew monthly
thereafter, and may be terminated on 10 days notice.
Integral is a full-service securities dealer
regulated by the Investment Industry Regulatory Organization of
Canada, and engages in wealth management, market making, and
investment banking. Integral operates from 8 offices, including
Toronto, Vancouver, Calgary, and Ottawa. Integral’s corporate
office is located at 181 University Avenue, Suite 1600, Toronto,
ON, M5H 3M7. Integral and its personnel which will be providing
services pursuant to the Support Agreement are each arm’s length to
the Company, and no such person has any interest, directly or
indirectly, in the Company or its securities, or any right or
intent to acquire such an interest.
The Support Agreement has an initial term
expiring on April 19, 2021, following which it will continue on a
month-to-month basis until terminated by the Company upon the
provision of written notice. The Support Agreement remains subject
to the approval of the TSXV.
Qualified PersonsEric Owens,
Ph.D., P.Geo., and Natalie Pietrzak-Renaud, Ph.D., P.Geo. act as
the Qualified Persons for E2Gold.
ABOUT E2GOLD INC.E2Gold Inc. is
a Canadian gold exploration company which recently completed an
overbought Initial Public Offering, listing on the TSX Venture
Exchange. Its large flagship property, the Hawkins Gold Project,
covers 7 townships in north-central Ontario, about 140 km east of
Hemlo. The McKinnon Zone is an at surface, NI43-101 compliant
Inferred Mineral Resource of 6.2 million tonnes grading 1.65 g/t
for 328,800 ounces of goldi. The Company has all relevant permits
in place to complete its planned program.
For further information please contact: |
Eric Owens |
Ellie Owens |
President and Chief Executive Officer |
Vice President, Corporate Development |
Tel. (416) 509-5385 |
Tel. 647-575-2888 |
Email: eric.owens@e2gold.ca |
Email: ellie.owens@e2gold.ca |
_________________________i NI 43-101 Technical
Report and Updated Mineral Resource Estimate on Hawkins Gold
Project, Ontario, by P&E Mining Consultants, effective date
September 10, 2020.
Cautionary Statement on Forward-Looking
Information
Neither the TSXV nor its Regulation Services
Provider (as that term is defined in the policies of the TSXV)
accepts responsibility for the adequacy or accuracy of this
release.
No stock exchange, securities commission or
other regulatory authority has approved or disapproved the
information contained herein. This news release contains
forward-looking information which involves risks, uncertainties and
other factors that could cause actual events, results, performance,
prospects and opportunities to differ materially from those
expressed or implied by such forward-looking information.
Forward-looking information in this news release includes, but is
not limited to, any potential market impact as a result of the
services to be performed pursuant to the Support Agreement, and the
receipt of TSXV approval. Factors that could cause actual results
to differ materially from such forward-looking information include,
but are not limited to, failure to obtain regulatory approvals in a
timely matter or at all, or the failure of the services to be
provided pursuant to the Support Agreement to have any positive
market impact. Although the Company believes that the assumptions
and factors used in preparing the forward-looking information in
this news release are reasonable, undue reliance should not be
placed on such information, which only applies as of the date of
this news release, and no assurance can be given that such events
will occur in the disclosed time frames or at all. The Company
disclaims any intention or obligation to update or revise any
forward-looking information, whether as a result of new
information, future events or otherwise, other than as required by
law.
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