Warrior Gold Announces Start of Follow Up Drilling and Extension of Non Brokered Private Placement
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TORONTO, Oct. 21, 2019 /CNW/ - Warrior Gold Inc. (TSX-V:WAR) ("Warrior Gold" or the "Company") is pleased to confirm that the follow-up diamond drilling program, announced by the Company on October 10, 2019 is planned to commence November 1, 2019. The drilling program's focus will be on the A and C Zones which returned excellent results in the previous program (see the news release of June 6, 2019).
"We anticipate that the high-grade intersections in the A and C Zones will be extended along strike. Additionally, the presence of parallel zones south of the Goodfish A Zone will also be investigated," stated Tom Neelands, Chief Geologist, Warrior Gold.
The Company wishes to report that further to its news releases of September 17, 2019 and September 26, 2019, which announced a non-brokered private placement of up to $1,500,000 (the "Offering") and the subsequent closing of a $859,983 first tranche, the TSX Venture Exchange has granted the Company a 30 day extension to this Offering, with all terms and conditions remaining the same.
Closing of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary corporate and regulatory approvals, including the approval of the TSX Venture Exchange. The Offering will be conducted in reliance upon certain prospectus exemptions.
About Warrior Gold Inc.
Warrior Gold is a TSX Venture Exchange listed company that owns the Goodfish-Kirana Property located five kilometres north of the Town of Kirkland Lake, Ontario. The Property is located in the historic Kirkland Lake Gold Camp which is situated in the prolific Abitibi Greenstone Belt, recognized as one of the world's highest grade greenstone belts with over 200 million ounces of gold produced to date.
The Goodfish-Kirana Property is 11.5 kilometres long by roughly three km wide (34 km2) and contains three major structural trends: the east-west trending Kirana Deformation Zone; the northeast trending Goodfish Deformation Zone; and the Victoria Creek Deformation Zone on the recently acquired Sutton claims on the northeast side of the property. The Property contains numerous historical gold showings, as well as 18 historical pits and shafts.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements: This press release contains forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. The forward-looking statements are based on certain key expectations and assumptions made by the Company. Although Warrior Gold believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Warrior Gold can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. In addition to other risks that may affect the forward-looking statements in this press release are those set out in the Company's Management Discussion and Analysis of the financial condition and results of operations for the year ended March 31, 2019 and the first quarter ended June 30, 2019, which are available at www.sedar.com. The forward-looking statements contained in this press release are made as of the date hereof and Warrior Gold undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
This press release does not constitute an offer, invitation or recommendation to subscribe for or purchase any securities and neither this press release nor anything contained in it shall form the basis of any contract or commitment. In particular, this press release does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States, or in any other jurisdiction in which such an offer would be illegal.
SOURCE Warrior Gold Inc.
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