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Newton Provides Clarification on its Disclosure
Newton Provides Clarification on its Disclosure Vancouver, British Columbia CANADA, August 2...
About this update from Cullinan Metals Corp
[{"type":"text","content":"Newton Provides Clarification on its DisclosureNewton Provides Clarification on its Disclosure\nVancouver, British Columbia CANADA, August 27, 2013 /FSC/ - Newton Gold Corp.  (NWG - TSX Venture), as a result of a review by the British Columbia Securities Commission, is issuing the following news release to clarify its disclosure.\nSibley Road Property:\nThe Company wishes to retract previous disclosure made in its December 4, 2012 news release regarding the tonnages at Sibley Road as that disclosure was not compliant with National Instrument 43-101 due to insufficient information regarding the nature, quality and grade of the resource being defined.  \nThe company's disclosure of the historical estimates omitted information about classification and quality of the sand and kaolin clay, and other information and cautionary language required by NI 43-101 for all disclosure of historical estimates. \nThe previously reported tonnages of Cretaceous kaolin clay and silica sand were considered historical in nature as they were calculated prior to the Company optioning the property. Subsequently, the company took delivery of a new technical report prepared under NI 43-101 by Dr. Stea, dated March 22, 2013 (the March 2013 Report), which does not support continued disclosure of the historical resource estimates. Consequently, the company retracts its prior disclosure of historical kaolin clay and silica sand resource estimates at the Sibley Road property.  \nThe previously reported portion of the deposits of clay and sand on the Sibley Road property occur in a 2.5 square km core of the property and were defined by a 167 drill hole subset of the total 406 historical drill hole database completed between 1997 and 1999 by Kaoclay Resources Ltd.\nThe March 2013 Report was required by the TSX Venture Exchange policy 5.3, section 5.7.  Newton Gold had filed for approval of the Option for the Sibley Road Property with the TSX Venture Exchange but was unable to receive approval at that time due to the transaction being considered a 'Fundamental Acquisition', which required a supporting technical report. The company has not finalized its March 2013 report, which it expected to re-disclose the silica sand and kaolin clay deposits at Sibley Road as potential exploration targets, using ranges of tonnages and gra...