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Gespeg Resources Signs Joint-Venture Letter of Intent with J.A. MacLeod Exploration
SASKATOON, Saskatchewan, Feb. 06, 2020 (GLOBE NEWSWIRE) -- GESPEG RESOURCES LTD. (TSX-V:GCR) (the “Company” or “Gespeg”) , is pleased to announce that it has si
About this update from 1844 Resources Inc
[{"type":"text","content":" SASKATOON, Saskatchewan, Feb. 06, 2020 (GLOBE NEWSWIRE) -- GESPEG RESOURCES LTD. (TSX-V:GCR) (the “Company” or “Gespeg”) , is pleased to announce that it has signed a Letter of Intent (the”LOI”) with J.A. MacLeod Exploration Reg’d (“J.A. MacLeod”). Gespeg agrees to grant to J.A. MacLeod fifty percent (50%) undivided interest in the Davidson Project (the”Project”). In return, J.A.MacLeod will pay a symbolic amount of $5,000 and participate equally in all exploration and development expenditures on the Property. The two parties will put together a committee to prepare strategies, exploration plans and budgets for the Project. Gespeg remains the operator of the Project and will receive a 10% operation fee on all work conducted. The Davidson Project is currently 100% owned by Gespeg and is comprised of 33 claims situated south of a past producing mine Icon Mine, which historically produced 1,616,567 tonnes grading of 3.07% copper. The property is adjacent to Route 167 North East of Chibougamau and has several copper showings, including Clero, Blondeau, and Bouzan-Cuivre. Following the initial evaluation, preparation of exploration budgets and further research of the region resulted in the addition of 4 claims on the North-West portion of the Project . Mr. Sylvain Laberge, President and CEO of Gespeg, remarks \"We are pleased to have the opportunity to work and develop the Davidson Project with Mr. Jim MacLeod, a well renown member of the Cree Nation and Entrepreneur, along with his recognized professional team. The knowledge of the territory and expertise that they bring will be of terrific value to our Company. It furthers our mandate and goal to explore underexplored regions and expand our knowledge to the Chibougamau Region “. About Gespeg Resources Ltd: Gespeg is an exploration company with a focus in strategic and energy metals and underexplored regions “Gaspé and Chibougamau Québec”. With a dedicated management team, the Company’s goal is to create shareholder value through the discovery of new deposits. Qualified Person: Bernard-Olivier Martel, P. Geo, the Company's Director of Exploration, is a qualified person (as such term is defined in National Instrument 43-101 - Standards of Disclosure for Mineral Pro...