InvestmentPitch Media Video Discusses New Destiny Mining's Exclusivity Agreement for Expanding and Consolidating the Treasure Mountain Lead-Zinc-Silver Property in BC - Video Available on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - July 4, 2018) - New Destiny Mining (TSXV: NED) has entered into an exclusivity agreement giving the company the opportunity to consolidate a major land position surrounding the Treasure Mountain past producer owned by Nicola Mining. The exclusivity agreement, with an arm's length private party, allows 30 days for New Destiny to conduct due diligence on certain minerals claims with a view to negotiating the terms of a letter of intent and, if applicable, a definitive agreement to complete the acquisition of the claims.
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New Destiny's Treasure Mountain Silver Property, located near Tulameen, approximately 30 kilometres east/northeast of Hope, British Columbia, covers 10,700 hectares.
With the exception of the Nicola Mining Property, which is the site of the historic Treasure Mountain Silver-Lead-Zinc mine, New Destiny would be in a position to control the entire Treasure Mountain camp.
The exclusivity property contains seven known lead-zinc-silver, plus or minus copper, gold and antimony mineral occurrences including three polymetallic vein occurrences, the Indiana, Summit and Morning Star veins, with reported high-grade lead, zinc and silver. The polymetallic Summit Vein, located west of Treasure Mountain, exhibits the most significant potential. Numerous historic (1988) samples along an approximate 315 meter long trench at this vein were reported to return high grade silver, lead and zinc.
Reported highlights of the 1988 channel sampling of the Summit Vein include 2,538 grams per tonne silver, 38.2% lead, and 3.1% zinc over 1.78 meters; and 2,196 grams per tonne silver, 45.3% lead and 7.5% zinc over 1.20 meters. Given the strike and grade, the Summit zone provides a drill ready target.
The Indiana Fault is reported to pass through the area of the Indiana and Summit veins. An historic mid-1980s sample at the Indiana Adit Portal, approximately 100 meters east of the Summit Trench, was reported to return 288 grams per tonne silver, 11.3% zinc and 5.7% lead.
The Venus Silver and Morning Star occurrences, northwest of the Treasure Mountain deposit, border a large copper-moly-gold soil geochemistry anomaly with a coincident aeromagnetic feature interpreted to define a copper-gold porphyry target.
The high-grade lead-zinc-silver mineralization that characterizes the camp are thought to be indicative of vein style mineralization peripheral to a larger metalliferous porphyry system. The porphyry target is the first indication that the intrusive feeding the known mineral occurrences may locally extend to surface.
Soil samples collected within this porphyry target in 2015 locally exceeded 1,000 parts per million copper with a few samples exceeding 2,000 parts per million.
Within the region, copper-gold porphyry systems have been identified. The most notable being the Copper Mountain mine located approximately 30 kilometers east-southeast of the project.
New Destiny will be undertaking a detailed field review in the coming weeks to verify the previous work and determine which of the targets are drill ready and those that may require additional work. Preliminary review suggests a series of shallow holes along the high-grade Summit Vein are justified along with 5 or 6 exploratory holes within the limits of the defined porphyry target.
For more information, please visit the company's website at www.newdestinymining.com, contact Robert Birmingham, President and CEO, at 604-783-0499 or email info@newdestinymining.com.
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