Stakeholder Receives Approval for Option Agreement on Goldstorm Property in Elko, Nevada
Toronto, Ontario--(Newsfile Corp. - May 9, 2017) - Stakeholder Gold Corp. (TSXV: SRC) ("Stakeholder Gold" or the "Corporation") is pleased to announce it has received approval from the TSX Venture Exchange for the previously disclosed property option agreement (the "Agreement") withMountain View Gold Inc. ("MVG") and Mountain View Gold Corp. ("Mountain View"), a wholly-owned subsidiary of MVG.
Pursuant to the Agreement Mountain View has granted the Corporation an option to earn up to 100% interest in Mountain View's Goldstorm property (the "Property"), located in Elko County, Nevada. Terms of the agreement are as reflected in the Company's prior press release dated March 8th, 2017.
The Property
The Property is situated in the Snowstorm Mountains Mining District in the western part of Elko County, Nevada. The Property is located approximately 17 km northwest of Klondex's Ken Snyder ("Midas") underground gold mine, approximately 18 km east-northeast of Newmont's Twin Creeks gold mine and approximately 25 km northeast of Barrick Gold's Turquoise Ridge mine.
A National Instrument 43-101 technical report on the property has been filed on SEDAR and is available on the Stakeholder Gold website at: http://stakeholdergold.com/goldstorm-project/ni-43-101-technical-report/
The Property contains numerous historic prospects, and the earliest known exploration dates to 1907. There was no activity on the Property between the 1930's and 1980. An aeromagnetic survey, along with trenching, was conducted in the 1980's. Drilling exploration commenced in 1989 and was conducted by various companies through 2000. Geologic mapping was published in 1993. Mexivada acquired the Property in 2007, and West Kirkland Mining leased the Property from Mexivada in 2010.
In 2010, West Kirkland Mining drilled two core holes on the Property. Drill hole WG-1001 is located on the Clayton Veins system, situated about 1 km south-southwest of the more extensively explored Northern zone. Beginning at 64.4 m depth, the hole intercepted a 2 m vein zone that assayed 5.5 g/t Au, including a 1 m interval @ 9.29 g/t Au and 73 g/t Ag. The Clayton Veins system trends NW-SE and has been tested by only this one drill hole. The parallel Prochnau Veins system, located about 300 m to the NE, has not yet been drill-tested. Both these vein systems are open along strike and to depth. Evidence of veining has been traced over 2,000 m strike length, and these veins will be the subject of exploration drilling planned to be undertaken by Stakeholder in the coming months.
The exploration target/model for the Property is based on the Midas mine located about 16 km (10 miles) to the southeast. Goldstorm sits near the intersection of three important gold-bearing structural corridors: the Getchell Trend; the Carlin/Midas Trend and the Northern Nevada Rift.
* Goldstorm property located at the intersection of 3 prominent gold trends in Nevada
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Gregory C. Ferdock, PhD (ABD), MSc is a Qualified Person under NI 43-101 and has reviewed and approved the technical portions of this news release.
About Stakeholder Gold
Stakeholder Gold Corporation is a Canadian mineral exploration company headquartered in Toronto, Canada. The primary focus of the Corporation during 2017 is to explore the Goldstorm property in Elko County, Nevada (USA). Stakeholder is also exploring on its 100% owned Ballarat Gold Project located in the White Gold District of the Yukon Territory, Canada.
For further information, please contact:
Christopher J. Berlet BSc. (Mining), CFA
President & CEO
416 548 - 9749
cberlet@stakeholdergold.com
Forward Looking Information
This news release contains forward-looking information. All information, other than information of historical fact, constitute "forward-looking statements" and includes any information that addresses activities, events or developments that the Corporation believes, expects or anticipates will or may occur in the future including the Corporation's strategy, plans or future financial or operating performance.
When used in this news release, the words "estimate", "project", "anticipate", "expect", "intend", "believe", "hope", "may" and similar expressions, as well as "will", "shall" and other indications of future tense, are intended to identify forward-looking information. The forward-looking information is based on current expectations and applies only as of the date on which they were made. The factors that could cause actual results to differ materially from those indicated in such forward-looking information include, but are not limited to, the ability of the Corporation to fund the exploration expenditures required under the Agreement. Other factors such as uncertainties regarding government regulations could also affect the results. Other risks may be set out in the Corporation's annual financial statements, MD&A and other publicly filed documents.
The Corporation cautions that there can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, investors should not place undue reliance on forward-looking information. Except as required by law, the Corporation does not assume any obligation to release publicly any revisions to forward-looking information contained in this press release to reflect events or circumstances after the date hereof.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.