(TheNewswire)
Val d'Or, Quebec / TheNewswire / November 7, 2017 - The Board of Directors of Knick Exploration Inc. ('Knick") has determined a strategy regarding its East-West Gold Property in Val d'Or, Quebec, Canada. Knick has initiated preliminary negotiations with mining companies towards the conclusion of a possible strategic partnership on its 100% owned East-West Gold Property. To date, the property has accumulated in excess of $ 4 million of assessment work credit.
Knick has appointed Jean-Pierre Colin to negotiate an accretive transaction with respect to the East West Gold Property of Knick Exploration. Mr. Colin is a corporate strategy consultant to high-growth publicly-listed mining companies. He has been a recognized senior securities industry executive and effective investment banking professional providing financing, mergers and acquisitions services to numerous prosperous issuers in Canada. As a result of his extensive financial background throughout his career, he has been called to lead teams of corporate finance professionals at national securities dealers, such as Richardson Greenshields (now RBC Capital), JP Colin Securities, Deacon Capital (formerly acquired by Dundee Capital), Octagon Capital and Desjardins Securities Inc. Mr. Colin has also served as a high-profile corporate board director and C-suite executive of numerous public mining companies, often chairing audit committees, compensation committees and corporate governance committees, including with Premier Gold Mines; Wolfden Resources (sold to Zinifex for over $350 million); Virginia Gold (whose Eleonore property was sold to Goldcorp for over $ 1 billion); and, Pelangio Mines, the former controlling shareholder of Detour Gold, one of Eastern Canada's largest gold mining operations. Mr. Colin holds a DCS from McGill University where he studied Biology & Engineering, an MBA from the University of Western Ontario and a Law Degree from the University of Ottawa. He also practiced corporate law prior to his investment-banking profession.
Jean-Pierre Colin states, "I am very pleased to act for Knick Explorations as its negotiator and commence working closely with board members, Knick management and employees, especially for the benefit of Knick's numerous shareholders and stakeholders. Jacques Brunelle, Knick's CEO, has accomplished many very enviable milestones for Knick while assembling a remarkable team of experts and he has my full commitment in moving Knick to a very successful future."
Jacques Brunelle, CEO of Knick states, "We are privileged to welcome Jean-Pierre Colin as our chief negotiator for the East West Gold Property. Mr. Colin brings deep expertise and a proven track record in investment banking and corporate governance and he is well-known throughout the mining community for his ethical business acumen. We are capitalizing on our mining claims in Val d'Or, Quebec and Amos, Quebec, and Mr. Colin brings to us the corporate negotiation expertise and required wisdom to further our East-West Gold Property to the possible next stages of achievement and exploration success."
The East-West property is located a short distance from Kiena Gold Mine (WDO) as well as the past producers of the Marban Mine (OSK) and Malartic Goldfields Mine (AEM & YRI-Canadian Malartic Mine) in the Val d'Or-Malartic mining camp of Quebec, Canada. Together, these deposits represent a gold production of approximately 3.8 million ounces to date (Source: Sigeom).
Knick's latest drilling campaign on the East-West Gold Property continued confirmation of the similarities, both geological and structural, to our immediate neighbors, Osisko Mining Inc's Marban Mine property and Wesdome Gold Mines Ltd.'s Kiena Mine Complex.
Knowledge acquired from the East-West Gold Property drilling indicates that the Marbenite Shear traverses the northern part of the property for 1.6 km of strike length. The southern part of the property covers different lithologies and structures related to the Cadillac Break environment.
The company's proposed strategy would be to drill test key areas of the East-West Gold Property defined from its ongoing compilation work on the property. Target depths would range from depths of 275 to 500 meters from surface.
SALIENT POINTS RELATED
TO THE
East-West Gold Property:
- Between 2009 and 2017, Knick drilled 99 holes or 19,659 meters over lengths that varied between 44 and 495 meters. Only eight holes were tested to vertical depths of 250 meters. The collar spacings varied between 25 and 400 meters.
- From the 18 holes that intersected at least one gold mineralization interval above 1.0 g/t gold over more than 2 meters, most were concentrated in two distinct gold zones separated by 1 km East-West zones: the company's West Zone and the Raven Zone.
- The West Zone is located along strike believed to be in the continuity of the Marban deposit footwall; this target area is located 300 meters Eastward from the Marban deposit's underground workings.
- One of the deeper holes drilled on the property intersected 0.5 g/t over 34.9 meters including, 6g/t over 2 meters, above 200 meters vertical depth, in the West gold zone. Geological similarities were established by Knick between the Marban and East-West mineralized intervals. Please reference 2017 Assays Results of the June 6th, 2017 Press Release: http://www.knick.ca/files/2017/EW-DPR.pdf
The Opportunity:
The company wishes to drill test key areas developed from its ongoing compilation work on the East-West Gold Property. Target depths range from the 275 meter to over 500 meters of vertical depth. Knick believes that perhaps the East-West Gold Property can lie along the possible trend between the Marban deposit and the Kiena Mine deposit. The Kiena Mine approximate deposit's Western development limit is believed to be located 1 km east of the East-West Gold Property.
The East-West Gold Property's Southern half is located within the Cadillac Break influence at about 1 km East of the Malartic Gold Fields mine deposit and has yet to be tested.
We seek Safe Harbour.
Forward-Looking Statements
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
This Press Release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties.
FOR MORE INFORMATION, CONTACT:
Jacques Brunelle Gordon N. Henriksen
President & CEO Vice President
Knick Exploration Inc. Knick Exploration Inc.
Val-d'Or, Quebec Val-d'Or, Quebec
819-874-5252 819-874-5252
819-856-1387 819-210-1406
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