Business
Carolina Rush Commences Drilling at Brewer Gold-Copper Project
Toronto, Ontario--(Newsfile Corp. - October 23, 2023) - Carolina Rush Corporation  (TSXV: R...
About this update from Carolina Rush Corporation
[{"type":"text","content":"Carolina Rush Commences Drilling at Brewer Gold-Copper ProjectToronto, Ontario--(Newsfile Corp. - October 23, 2023) - Carolina Rush Corporation (TSXV: RUSH) (OTCQB: PUCCF) (formerly Pancontinental Resources Corporation) (\"Carolina Rush\" or the \"Company\") announces that a 2,000-meter core drilling campaign has commenced at its flagship Brewer Gold-Copper Project located in Chesterfield County, South Carolina.Layton Croft, President and CEO, stated: \"We eagerly anticipate further exploration of the key target areas our team has delineated using data derived from our previous highly successful drilling and geophysical programs. The inaugural drill holes of this program aim to expand the significant findings in drill hole #8, which yielded impressive results of 1.07 g/t Au and 0.26% Cu over a span of 106.5 meters, as well as below drill hole #5, that intercepted 1.24 g/t Au and 0.27% Cu over an interval of 181.6 meters. These initial holes plan to validate the significant mineralization encountered within the former open pit area. In addition, we will test the promising zone south of the former pit, where hole #15 intersected 62.4 meters of 1.03 g/t Au and 0.15% Cu within a newly discovered breccia zone that remains open in all directions.\" For more information on this year's drill program, please view the corporate presentation at our website at: https://thecarolinarush.com/investors/presentation/. In addition, the Company has agreed to settle an aggregate of CDN$30,000 of indebtedness owed to an arm's length creditor of the Company through the issuance of 200,000 common shares (each, a \"Common Share\") of the Company at a deemed price of $0.15 per Common Share (the \"Debt Settlement\"). The Debt Settlement remains subject to receipt of all necessary corporate and regulatory approvals, including the approval of the TSX Venture Exchange. All securities issued in connection with the Debt Settlement will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.Qualified PersonThe technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in NI 43-101 and reviewed and approved by Patrick Quigley, MSc, CPG-12116, a Qualified Person as defined by NI 43-101.About Carolina RushCa...