TORONTO, July 22, 2015 /CNW/ - GPM Metals Inc.
(TSXV: GPM) (the "Company" or "GPM") is pleased to announce that
approval for EL 24305 to proceed to grant has been obtained;
enabling the Company to proceed with exploration on key
areas of the Walker Gossan Project ("WGP"), Northern
Territory, Australia . The project
is a joint venture between the Company and Rio Tinto Exploration
PTY Ltd. (see January 27, 2014 press
release of the Company available on SEDAR at www.sedar.com). The
approvals represent a major milestone for the project as the
tenements have been under application for in excess of 40 years
following the identification of favourable and highly
anomalous areas in 1972.
The WGP lies within one of the great metallogenic provinces
of the world. The WGP is located within the Walker Fault
Zone, which was identified by the Northern Territory
Geological Society ("NTGS") as being the "hottest untested
exploration play in the Northern Territory" in a 2004
publication of the NTGS.
http://www.nt.gov.au/d/Minerals_Energy/Geoscience/Content/File/Docs/CORE/NTExplnOpportunities.pdf
Included within the North Australian Zinc Province; which
currently provides 30% of the world zinc production, are a number
of significant silver, lead, zinc and copper
deposits; including the Mt. Isa, George Fisher, McArthur
River, Cannington and
Century Mines.
The Company is currently planning an initial exploration program
to commence in September of this year. Work will consist of rock
and soil geochemistry, geological mapping and geophysics over key
targets for drilling which is currently scheduled to take place in
mid 2016.
Patrick Sheridan , CEO of GPM
stated "We are looking delighted to be moving ahead with WGP and
look forward to working diligently with our partners for the
development of the project and to the benefit of
stakeholders."
ABOUT GPM METALS INC.
GPM Metals Inc. focuses on acquiring and exploring district
scale exploration properties. Currently thetwo main projects are
the Company's Walker Gossan Project, NT; and the Weebigee
Gold Project in Sandy Lake,
Ontario.
All scientific and technical information in this press release
has been prepared under the supervision of Dan Noone, (Vice President Exploration and a
Director 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 Mines and Metallurgy.
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.
SOURCE GPM Metals Inc.