Business
Green Swan Expands Portfolio
Burlington, Ontario--(Newsfile Corp. - February 21, 2017) - Green Swan Capital Corp. (TSXV: GS...
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[{"type":"text","content":"\nGreen Swan Expands PortfolioBurlington, Ontario--(Newsfile Corp. - February 21, 2017) - Green Swan Capital Corp. (TSXV: GSW) has added to its portfolio of low cost, highly prospective mining assets in high quality mining jurisdictions. This acquisition consists of 33 mining claim units contained with 4 claim blocks in Otto Township, Larder Lake Mining Division, in Ontario (the \"Otto Assets\").The Otto Assets lie roughly eight kilometres southwest of Kirkland Lake and proximate to the former producing Swastika Mine, Ontario's first producing gold mine (1907). Infrastructure is readily available. The Otto Assets can be directly accessed off the TransCanada Highway through the town of Swastika. Said Green Swan's CEO Peter M. Clausi, \"Our team took an undervalued forgotten cobalt/gold asset in Sudbury and created a great real shareholder value from it. We intend to do the same with the Otto Assets.\"The most recent work on the Otto Assets was a soil geochemistry report in 2012. Gold, palladium, copper, zinc, nickel and lead values were returned. Page 11 of the report concluded; \"Further prospecting and geochemical surveys to the northeast and a further extension along trend may be warranted. It appears that average background levels increased to the east, and several anomalies occurred at the northeast boundary of the sampling area.\" (MNDM Report, Soil Geochemistry and Prospecting on Claim Numbers: 4246905, 4250913, 4251194; Otto Township; Larder Lake Mining Division. L.Currah, 2012.)Green Swan has not performed any work on the Otto Assets, which have been explored by third parties since 1975. Historic work has included prospecting, line cutting, limited diamond drilling, VLF and magnetic surveys, mapping, trenching and soil sampling. Some but not all of the results from third party work are available to Green Swan. Green Swan cannot speak to the accuracy or thoroughness of historic work without further research and analysis.Green Swan purchased the Otto Assets from an arm's length prior owner who encountered challenges advancing exploration on them. One of the difficulties was an inability to enter into economic exploration agreements with local communities including First Nations. That prior owner had applied for a permit to drill from 11 to 20 pads, conduct mechanical excavation, and carry out other mining-related activitie...