Business
Gespeg Copper Provides Corporate Update and Announces Warrant Extension and Amending Agreement
SASKATOON, SASKATCHEWAN--(Marketwired - May 12, 2016) - NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. GESPEG COPPER
About this update from 1844 Resources Inc
[{"type":"text","content":"SASKATOON, SASKATCHEWAN--(Marketwired - May 12, 2016) - NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. GESPEG COPPER RESOURCES INC. (TSX VENTURE:GCR) (the \"Company\" or \"Gespeg\") is pleased to provide the following update on the Company's activities: President's Message - Corporate Update Over the last four years, the pace of exploration in the junior resource sector was significantly slowed, as capital for the rapid expansion of properties was simply not available. Gespeg was not immune from this challenge. However, during this period, Gespeg was successful in performing exploration programs that have kept its properties in good standing, as well as adding new projects to our portfolio which have strengthened our position in the Gaspé Peninsula. The Company remains confident that the Gaspé Peninsula is ideally suited for copper exploration in Canada. Once home to the largest copper mine in North America - the Gaspé Copper Mine - which operated for approximately 50 years, the region has been vastly unexplored and largely ignored by exploration companies since the Gaspé Copper Mine was closed approximately 20 years ago. In June of 2012, Gespeg announced its first discovery on the Vortex project. Drill hole 11-V-04 intercepted 16 meters of 1.38% copper at a depth of 14 meters (Interval represent core length, not true width) on Sullipeck East, which is a subset of the Vortex property (see the Company's news release dated June 13, 2012, a copy of which is available under the Company's SEDAR profile at www.sedar.com). As the capital markets are once again gaining traction, the Company is now planning a 3,000 meter drill program on Vortex this summer. In addition to this, the exploration programs conducted over the past three years have identified a number of additional prospective targets in other areas of our land package that we intend to further test during this summer's exploration season. Gespeg, along with its directors and management, would like to thank all of our shareholders for their patience over the last four years. It has been a difficult time period for all junior natural resource exploration companies. The Company feels that it is poised to make meaningful advancements on its properties in the coming months, and looks forward to reporting the results of its upcoming explor...