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Gespeg Consolidates its Position at Lac Arsenault
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES SASKATOON, Saskatchewan, July 19, 2018 (GLOBE NEWSWIR
About this update from 1844 Resources Inc
[{"type":"text","content":" THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES SASKATOON, Saskatchewan, July 19, 2018 (GLOBE NEWSWIRE) -- GESPEG COPPER RESOURCES INC. (TSX-V:GCR) (the “Company” or “Gespeg”) announces that it has entered into a purchase agreement (the \"Agreement\") with an arm's length party (the \"Seller\") to acquire a 100% undivided interest in 15 mining claims in the southern part of the Gaspé Peninsula, to the North -West of the municipality of Port Daniel and North-East of Bonaventure. These 15 claims compliment the claims already 100% owned by the Company within its Lac Arsenault project (see press release dated December 19, 2017). Under the terms of the agreement, Gespeg acquires the ownership of the claims in exchange of 100,000 shares issued to the seller following the approval of the TSX Venture Exchange. About the Lac Arsenault region Historical data and exploration results completed by Esso Resources between 1973 and 1978, indicates that the original three veins identified in this region (the Baker, Mersereau and Line 4W) host historical unclassified resources of 40,000 tonnes grading 15.43 g/t Au, 197.00 g/t Ag, 6.6% Pb and 3.5% Zn (DV-85-08 page 7). This historical estimate is based on the surface expression of the three veins only. Additionally, an evaluation of four vein systems was performed by Peter Smith, Ph.D., in October 1995, indicating that these known vein systems contain historical unclassified resources of 135,510 tonnes grading 0.35 oz/tonne Au. Peter J. Hawley re-evaluated these historical estimates in a report dated February 7, 1996, stating that the Arsenault Prospect contains 220,042.52 short tonnes at 0.307 oz/tonne Au. Mr. Sylvain Laberge, President and CEO of Gespeg comments: \"We are pleased to add this property to our portfolio, allowing us to consolidate our position at Lac Arsenault and in Gaspésie. We believe the addition of these claims will increase the potential for new discoveries along the Grand Pabos fault. We will begin exploration work at the property in the fall. The Agreement is subject to the approval of the TSX-Venture Exchange. About Gespeg Copper Resources Inc.: Gespeg is an exploration company with a focus on copper, especially in a grossly underexplored region “Gaspé, Québec”. With a dedicated management team, ...