JNC Resources strengthens its Australian portfolio with the addition of two former strategic production properties
VANCOUVER, BC / ACCESSWIRE / June 15, 2021 / (CSE: JNC) (OTC PINK: JNCCF) (FSE: 5VH) – JNC Resources Inc. (“JNC” or the “Company”) is pleased to announce that the Company has signed a Letter of Intent (“LOI”) with Aussie Precious Metals Corp. (“APMC”). APMC is an Ontario company that owns two large lots of historic land in the State of New South Wales (“NSW”), Australia. The addition of the properties to JNC’s NSW portfolio complements a recently announced RooGold property by the Company that covers the northern portion of the Copeland gold field, located approximately 65 km southeast through the same mineralized system as the two APMC properties. .
NSW has been one of the most prolific gold territories for exploration and production since the 1850s. It is Australia’s second largest gold producing area with a gold endowment exceeding 3,160 tonnes. The NSW resource sector is vibrant, with world-class deposits, a highly skilled workforce and a well-earned reputation for safe, responsible and innovative mining practices.
The first of the two properties is known as Trilby (ELA 6237) and covers 215 km2 and is located in the western part of the New England Orogenic Land. The zone extends over a 35 km long section of the serpentanized Peel-Manning fault system within the eastern boundary of the New England Orogenic Terrain. The area includes the historic Trilby Gold Mine, consisting of swarms of meta-hydrothermal quartz veins with visible gold noted. The geological setting is very promising for the gold mineralization associated with listwanite. The Peel-Manning fault zone is rich in gold to the north (Bingara alluvial field) and south (Nundle gold field) of the application area. Hard rock gold vein deposits are also abundant in the fault suite. Therefore, the potential for significant orogenic precious metal deposits associated with listwanite is considered viable exploration targets.
The second property is known as Lorne (ELA 6234) comprising 102.5 km2, which is located in the western part of the New England Orogenic Belt. The zone stretches for 12 kilometers of orientation of the regional Peel-Manning fault system strongly mineralized in gold. The mineralization is orogenic or vein type and is characterized by quartz veins that may contain high grade gold veins. The area includes twenty-eight former gold mines in production and prospects. Historical production and prospecting records define a gold corridor 1 km wide and 7.5 km long. Historical hard rock production grades of up to 15 g / t Au are cited on the NSW MinView website. Historic mines include the former Marquis of Lorne orogenic gold-antimony mine, with over 500m of historic underground workings and historic reserves estimated at 50,000 oz Au. Historic drill hole intersections of up to 5 g / t Au over 5 m are recorded in this area from 5 drill holes, according to NSW government records.
“We are very excited to expand our land holdings with these two leading production properties in the mine-friendly jurisdiction of Australia. These properties, along with the SPML and RooGold properties, provide JNC with a comprehensive portfolio with many high-level potential targets in a region with proven mineral resources. Having the opportunity to build such an impressive set of land in such a large region is a testament to the commitment to building a world-class miner. We will continue to leverage our relationships to add shareholder value at JNC Resources ”said CEO Michael Mulberry,“ Australia has long been one of the largest and most prolific gold producers.
Please note that although the Company considers the historical results cited above for both properties to be accurate, readers are cautioned that a qualified person has not been able to verify the laboratory involved in the analysis of these. samples and no documentation was available regarding quality control. procedures used in the analysis.
Warren Robb, P.Geo., Is the Qualified Person for the Company as defined in National Instrument 43-101 and has reviewed the technical information presented in this press release.
About JNC Resources Inc.
JNC is a junior mining exploration company based in North America focused on developing under-explored properties and benefiting from the flow of transactions generated by strategic partnerships and growth opportunities. JNC recently acquired the Malebo and Solomon claims in the province of New South Wales, Australia, with an exploration program slated for 2021. JNC also has an option agreement with Great Basin Resources to acquire 100% control and interests in the Imperial project in Nevada. . Imperial property is located in Esmeralda County, Nevada, which has been a prolific mining area in the state. The property is close to the town of Goldfields, where gold production took place in the early 20th century.
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