TSXV: VEIN | FSE: N071
TORONTO, Sept. 4, 2018 /CNW/ - Enforcer Gold Corp
("Enforcer" or the "Company") (TSX-V: VEIN) (FSE: N071) is pleased
to inform its shareholders that the Board of Directors has agreed
to accelerate its earn-in schedule on the Roger gold-copper
project, for which it recently announced an updated mineral
resource estimate. The project is advantageously located 5 km north
of the historic mining center Chibougamau, Quebec, has all-season road
access and is crossed by a power line that serviced the
past-producing Troilus Mine. Enforcer is earning a 50% interest in
the project from project operator, SOQUEM.
President and CEO Steve
Roebuck, comments:
"Based on the favourable results of the updated resource
estimate, Enforcer has decided to accelerate the earn-in phase of
its option agreement by financing a Phase 2 diamond drilling
program set to commence in September
2018. Planning is in progress and details of the upcoming
program will be announced shortly.
The new resource estimate is a significant milestone for the
Company and comes after investing in a 3,068
m drill program. We are very pleased of how far the project
has advanced in the 8-month period since entering the option
agreement. The Company is fully funded to cover the Phase 2 program
which in turn will meet its year 2 spending obligation of
$750,000.
I'd like to add that our working relationship with SOQUEM has
been excellent; they bring a wealth of knowledge and experience to
the table and are a very efficient operators. We look forward to
the next steps in Roger's development."
Pit-Constrained Mineral Resource Estimate on the Mop-II
Gold-Copper Deposit – July 4,
2018
Category
|
AuEq
Cut-off
(g/t)
|
Tonnes
|
AuEq
(g/t)
|
Contained
AuEq
(oz)
|
Au
(g/t)
|
Contained
Au
(oz)
|
Indicated
|
0.45
|
11,143,000
|
1.05
|
377,000
|
0.92
|
331,000
|
Inferred
|
0.45
|
8,676,000
|
1.31
|
365,000
|
1.07
|
298,000
|
Note: Details of the 2018 mineral resource estimate are provided
in the Company's press release dated August
28, 2018. Mineral resources that are not mineral reserves do
not have demonstrated economic viability.
On January 11, 2018, Enforcer
announced that it had signed an agreement with SOQUEM to acquire a
50% interest in the Roger project by spending $2 million on work programs and issuing 1 million
shares over a three-year period. Enforcer completed its first year
$500,000 financial commitment by
financing the Phase 1, 3,068 m
diamond drilling program, which was designed to validate certain
historic drilling and determine if mineralization continued at
depth. Results of the program exceeded expectations, intersecting
very consistent mineralization throughout each hole and in most
cases with grades and widths exceeding the historical results
(June 20, 2018 press release).
Following recent discussions with project operator SOQUEM, it
was decided to accelerate the commencement of the Phase 2
exploration program starting in September
2018. The Company is fully funded to meet its Year 2
obligations of $750,000.
About SOQUEM
SOQUEM Inc., a subsidiary of Ressources Québec, is a leading
player in mineral exploration with its mission to explore, discover
and develop mining properties in Quebec. SOQUEM has participated in more than
350 exploration projects and contributed to major discoveries of
gold, diamonds, lithium and other mineral commodities in
Quebec.
About Enforcer Gold Corp
Enforcer Gold Corp is a Canadian-based mineral exploration
company and is earning a 50% interest in the royalty-free Roger
project from SOQUEM. Roger hosts the Mop-II gold-copper deposit
located 5 km from the historic mining center of Chibougamau, Quebec. To date, 58,000 m of diamond drilling have been completed
at Roger property and underground exploration undertaken in 1988
included 1,177 m of development and
over 1,000 m of chip sampling.
Enforcer also holds a 100% interest in the Waswanipi gold project located 125 km west of
Chibougamau. Both projects are
situated within the prolific Abitibi greenstone belt, which has
produced over 180 M oz. of gold and
over 450 M tonnes of copper-zinc ore
since the early 1900s.
Enforcer's VP Exploration, Antoine
Fournier, PGeo, is a Qualified Person as defined by National
Instrument 43-101 and has reviewed and approved the content of this
news release.
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 or
accuracy of this news release.
This news release contains "forward-looking statements" that are
based on expectations, estimates, projections and interpretations
as at the date of this news release. Forward-looking statements are
frequently characterized by words such as "plan", "expect",
"project", "intend", "believe", "anticipate", "estimate",
"suggest", "indicate" and other similar words or statements that
certain events or conditions "may" or "will" occur, and include,
without limitation, statements regarding the Company's plans with
respect to the exploration of its Roger project, the exploration
potential and analogous deposit potential of the Roger project and
the timing of the Company's exploration programs. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially
different from any future results, performance or achievements
expressed or implied by such forward-looking statements. Such risks
and other factors may include, but are not limited to, the results
of exploration activities; the ability of the Company to complete
further exploration activities; the ability of the Company to
complete transactions on terms announced; timing and availability
of external financing on acceptable terms and those risk factors
outlined in the Company's Management Discussion and Analysis as
filed on SEDAR. Enforcer Gold does not undertake to update any
forward-looking information except in accordance with applicable
securities laws.
SOURCE Enforcer Gold