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Affinity Metals Corp. Enters into Agreement to Acquire the Regal Polymetallic Project
Vancouver, British Columbia--(Newsfile Corp. - November 21, 2017) - Affinity Metals Corp. (T...
About this update from Affinity Metals Corp
[{"type":"text","content":"Affinity Metals Corp. Enters into Agreement to Acquire the Regal Polymetallic ProjectVancouver, British Columbia--(Newsfile Corp. - November 21, 2017) - Affinity Metals Corp. (TSXV: AFF) (\"the Corporation\") is pleased to report that it has entered into an option agreement with an arm's length third party to acquire a 100% interest in the Regal Polymetallic Project located within the northern end of the prolific Kootenay Arc approximately 25km northeast of Revelstoke, British Columbia, Canada. The extensive property package spans 5,891 hectares and hosts the following past-producing mines:Snowflake and Regal Silver (Stannex/Woolsey) MinesThe Snowflake and Regal Silver Mines were two former producing mines operated during the period 1936-1953. The last significant work on the property took place from 1967-1970, when Stannex Minerals completed 2,450 meters of underground development work and a feasibility study, but did not restart mining operations. In 1982, reported reserves were 590,703 tonnes grading 71.6 grams per tonne silver, 2.66 per cent lead, 1.26 per cent zinc, 1.1 per cent copper, 0.13 per cent tin and 0.015 per cent tungsten (Minfile No. 082N 004 - Prospectus, Gunsteel Resources Inc., April 29, 1986).Note: The above resource and grades were prepared prior to adoption of NI 43-101 and are not compliant with current standards set out therein for calculating mineral resources or reservesAllco Silver MineThe Allco Silver Mine operated from 1936-1937 and produced 213 tonnes of concentrates containing 11 troz gold (1.55 g/t), 11,211 troz silver (1,637 g/t) and 173,159 lbs of lead (36.9%).Recent Airborne Geophysics to Guide Future ExplorationAn extensive airborne geophysics survey conducted by Geotech Ltd of Aurora, Ontario, for Northaven Resources Corp. in 2011, identified 4 well defined high potential linear targets correlating with the mineralogy and structural orientation of the Allco, Snowflake and Regal Silver mines. Northaven also reported that the mineralogy and structural orientation of the Allco, Snowflake and Regal Silver appeared to be similar to that of Huakan International Mining Inc's J&L project located to the north, and on a similar geophysical trend line. The J&L is reporting a 43-101-compliant resource of 8,227,000 tonnes containing a combined 1,318,600 troz gold, 17,186,995 troz silver, 2.17% lea...