Sassy Gold Acquires Drill-Ready Ashuanipi Gold Property in Western Labrador
Sassy Gold Corp has signed agreements to acquire 100% interest in the Ashuanipi Gold Property, a 220 sq. km area in Labrador. The property, located 30 km southwest of Schefferville, Quebec, has undergone extensive early-stage exploration over 8 years, revealing 12 distinct gold-in-soil anomalies. The project features 10,000 soil samples with results up to 8.97 g/t Au and has never been drilled. The acquisition deal with prospector Shawn Ryan and Wildwood Exploration involves cash payments of $450,000 over 5 years and issuance of 2 million shares. The property benefits from excellent infrastructure including roads, rail connection, and hydro-generated electricity.
Sassy Gold Corp ha firmato accordi per acquisire il 100% dell'interesse nella Ashuanipi Gold Property, una zona di 220 km quadrati nel Labrador. La proprietà, situata a 30 km a sud-ovest di Schefferville, Quebec, ha subito un'ampia esplorazione iniziale nell'arco di 8 anni, rivelando 12 distinti anomali di oro nel suolo. Il progetto presenta 10.000 campioni di terreno con risultati fino a 8,97 g/t Au e non è mai stato perforato. L'accordo di acquisizione con il prospector Shawn Ryan e Wildwood Exploration prevede pagamenti in contanti di 450.000 dollari nell'arco di 5 anni e l'emissione di 2 milioni di azioni. La proprietà beneficia di un'ottima infrastruttura, comprese strade, collegamenti ferroviari e elettricità generata da idroelettrico.
Sassy Gold Corp ha firmado acuerdos para adquirir el 100% de interés en la Ashuanipi Gold Property, una área de 220 km² en Labrador. La propiedad, ubicada a 30 km al suroeste de Schefferville, Quebec, ha sido objeto de una extensa exploración inicial durante 8 años, revelando 12 anomalías distintas de oro en el suelo. El proyecto cuenta con 10,000 muestras de suelo con resultados de hasta 8.97 g/t Au y nunca ha sido perforado. El acuerdo de adquisición con el prospector Shawn Ryan y Wildwood Exploration involucra pagos en efectivo de $450,000 durante 5 años y la emisión de 2 millones de acciones. La propiedad se beneficia de una excelente infraestructura que incluye carreteras, conexión ferroviaria y electricidad generada por hidroeléctrica.
Sassy Gold Corp는 220 평방킬로미터의 지역인 Ashuanipi Gold Property에 대한 100% 지분을 인수하기 위한 계약을 체결했습니다. 이 자산은 퀘벡의 쉐페르빌에서 남서쪽으로 30 km 떨어진 곳에 위치하며, 8년 동안 광범위한 초기 탐사를 통해 12개의 뚜렷한 토양 금 이상을 밝혀냈습니다. 이 프로젝트는 최대 8.97 g/t Au의 결과를 가진 10,000개의 토양 샘플을 포함하고 있으며, 한 번도 드릴링 된 적이 없습니다. 프로스펙터 쇼언 라이언(Shawn Ryan) 및 윌드우드 탐사(Wildwood Exploration)와의 인수 계약은 5년에 걸쳐 $450,000의 현금 지급과 200만 주의 발행을 포함합니다. 이 자산은 도로, 철도 연결 및 수력 발전 전기를 포함한 우수한 인프라의 혜택을 누립니다.
Sassy Gold Corp a signé des accords pour acquérir 100 % d'intérêt dans la Ashuanipi Gold Property, une zone de 220 km² au Labrador. La propriété, située à 30 km au sud-ouest de Schefferville, Québec, a fait l'objet d'une exploration précoce approfondie sur 8 ans, révélant 12 anomalies distinctes d'or dans le sol. Le projet comprend 10 000 échantillons de sol avec des résultats allant jusqu'à 8,97 g/t Au et n'a jamais été foré. L'accord d'acquisition avec le prospecteur Shawn Ryan et Wildwood Exploration implique des paiements en espèces de 450 000 $ sur 5 ans et l'émission de 2 millions d'actions. La propriété bénéficie d'excellentes infrastructures, y compris des routes, une connexion ferroviaire et de l'électricité générée par hydroélectricité.
Sassy Gold Corp hat Vereinbarungen unterzeichnet, um 100% des Anteils an der Ashuanipi Gold Property zu erwerben, einem 220 km² großen Gebiet in Labrador. Das Grundstück, das 30 km südwestlich von Schefferville in Quebec liegt, wurde über einen Zeitraum von 8 Jahren umfassend erkundet und hat 12 erkennbare Gold-Bodenanomalien gezeigt. Das Projekt umfasst 10.000 Bodenproben mit Ergebnissen von bis zu 8,97 g/t Au und wurde noch nie gebohrt. Der Erwerbsvertrag mit dem Prospektor Shawn Ryan und Wildwood Exploration beinhaltet Barzahlungen von 450.000 $ über 5 Jahre und die Ausgabe von 2 Millionen Aktien. Die Immobilie profitiert von einer ausgezeichneten Infrastruktur, einschließlich Straßen, Bahnanschluss und hydroelektrischer Energie.
- Property has undergone extensive exploration with 10,000 soil samples showing high-grade results up to 8.97 g/t Au
- Excellent existing infrastructure reduces development costs
- No cash payments required in Year 1 of the acquisition agreement
- Strategic location near established mining services and infrastructure
- Total cash obligation of $450,000 over 5 years
- Share dilution through issuance of 2 million new shares
- Additional 1 million shares and warrants to be issued to third-party assignor
- Property is still in early exploration stage with no drilling completed
VANCOUVER, BC / ACCESSWIRE / November 12, 2024 / Sassy Gold Corp. (CSE:SASY)(OTCQB:SSYRF)(FSE:4E7) ("Sassy" or "the Company") announces that the Company has entered into agreements to acquire a
Highlights:
Extensive early-stage exploration over the past 8 years has taken the Ashuanipi Property to the drill-ready stage;
10,000 soil samples with results up to 8,973 ppb (8.97 g/t Au) have highlighted 12 distinct gold-in-soil anomalies with a core area measuring approximately 8 km x 2 km;
Rock sampling and geological mapping, combined with ground magnetic surveys and airborne VLF-EM geophysical surveys, support interpretations from soil sampling and have outlined specific diamond drill targets.
Sassy Gold President and CEO Mark Scott commented: "Ashuanipi is an attractive addition to Sassy's portfolio of direct exploration and equity assets. The project has undergone extensive early-stage exploration work and has never previously been drilled. Excellent infrastructure includes roads, rail connection to the Lower St. Lawrence, hydro-generated electricity, and a network of mining and exploration service providers in the area owing to the iron ore industry's presence in western Labrador and northeastern Quebec. We look forward to further developing this exciting project with first-ever drilling."
The deal to acquire the Ashuanipi claims was completed with famed Canadian prospector and project generator Shawn Ryan and Wildwood Exploration Inc. (the "Owners") on November 1, 2024 (the "Option Agreement"), with cash payments and shares spread out over a 5-year period (no cash payments in Year 1) as outlined further below.
Ryan first staked the Ashuanipi Property in 2017, having been drawn to it by the largest and most intense lake sediment gold anomaly in Labrador which was identified using publicly available government data. In 2017, Ryan and his team gathered 900 additional lake sediment samples in the region and conducted reconnaissance soil sampling over an area approximately 70 km by 20 km. The results of that work identified a distinct population of anomalous gold samples, which are covered by the four exploration licenses (882 claims) comprising the Ashuanipi Property today. Subsequent follow-up programs have built a large project database which includes over 10,000 soil samples, rock sampling, geological mapping and extensive geophysics.
Mr. Ryan commented: "Ashuanipi reminds me a lot of my Coffee discovery in the Yukon, in that we have a large multi-km scale gold-in-soil anomaly which appears to be structurally rather than lithology-controlled, cross-cutting several different rock units. With all this previous exploration work, Sassy is now set up to be the first company to drill this new district-scale gold property. I look forward to seeing a drill program on this exciting new group of targets, which have been 8 years in the making."
This region, part of the Ashuanipi Complex within the Superior Province, boasts a geological framework conducive to the presence of orogenic mesothermal gold deposits. Historical exploration activities have been revitalized through systematic geological mapping and modern sampling techniques, revealing numerous gold anomalies across the site.
The geology of the Ashuanipi Property is characterized by migmatitic metasedimentary rocks intruded by various tonalitic and granodioritic plutons, with widespread gold mineralization associated with garnet-biotite-quartz gneisses. The geological setting of the property, combined with evidence of high-grade metamorphism, aligns with known gold deposits in similar metamorphic terrains. The ongoing exploration efforts are aimed at further delineating these mineralized structures, reinforcing the Ashuanipi Property's status as a high-priority target for hosting potential gold deposits.
The Deal
The Option Agreement grants the Company the sole and exclusive right and option to acquire an undivided
To exercise the option for Ashuanipi, Sassy must make a total of
Director Change
The Company also announces the resignation of Richard Savage as Director effective October 17, 2024. Mr. Savage will continue to support the Company in an advisory capacity.
Qualified Person
The technical information in this news release has been reviewed and approved by Mr. Peter Lauder, P.Geo., Consulting Geologist for Sassy Gold Corp. Mr. Lauder is the Qualified Person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.
About Sassy Gold Corp.
Sassy is an exploration stage resource company currently engaged in the identification, acquisition and exploration of high-grade precious metal and base metal projects in North America. Sassy owns
Contact Information
Mark Scott
Chief Executive Officer
info@sassygold.com
Terry Bramhall
Corporate Communications & Investor Relations
terry.bramhall@sassygold.com
1.604.833.6999 (mobile)
1.604.675.9985 (office)
Caution Regarding Forward Looking Statements
Certain information contained herein may constitute "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified using forward-looking terminology such as, "will be", "expected" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements, such as the ability of the Company to completely earn-in to the Property and statements relating to the expected findings on the Property, are based on the Corporation's estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Corporation to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Corporation will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws. Additional information on these and other factors that could affect the Company's operations and financial results are included in reports on file with applicable securities regulatory authorities and may be accessed under the Company's profile on SEDAR+ at www.sedarplus.ca.
The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Sassy Gold Corp.
View the original press release on accesswire.com
FAQ
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