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Zincore Announces Agreement to Acquire Strategic Australian Reedy Creek and Providence Projects Located North of Southern Cross' Sunday Creek Project
Vancouver, British Columbia--(Newsfile Corp. - December 3, 2024) - Zincore Metals Inc. (TSXV: ZNC...
About this update from Golden Cross Resources Inc.
[{"type":"text","content":"Zincore Announces Agreement to Acquire Strategic Australian Reedy Creek and Providence Projects Located North of Southern Cross' Sunday Creek ProjectVancouver, British Columbia--(Newsfile Corp. - December 3, 2024) - Zincore Metals Inc. (TSXV: ZNC.H) (the \"Company\") is pleased to announce that it has entered into a share purchase agreement dated effective December 3, 2024 (the \"Definitive Agreement\") among the Company, Great Pacific Gold Corp. (TSXV: GPAC) (the \"Vendor\") and 1513609 B.C. Ltd., a wholly-owned subsidiary of the Vendor (\"BC Subco\"), pursuant to which, subject to regulatory approval, the Company will acquire 100% of the issued and outstanding shares of BC Subco (the \"Proposed Transaction\"), which through an Australian subsidiary will hold a 100% interest in and to the Reedy Creek and Providence tenements (the \"Project\") in Victoria, Australia. All currency references in the news release are in Canadian currency unless otherwise noted.The ProjectThe Reedy Creek and Providence projects are comprised of two tenements covering an area of 445km2 located approximately 10 km northeast of Southern Cross' Sunday Creek discovery in central Victoria, Australia (see Figure 1). Figure 1To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/5159/232349_0ba87ad6c4149881_001full.jpgReaders are cautioned that the Company has not independently verified the information in respect of properties adjacent to the Project and the mineralization on adjacent properties may not be indicative of the mineralization on the Project. The Project land package includes the historic Reedy Creek goldfield and Welcome Reef / Providence project. Exploration to date has identified potential for epithermal gold mineralization akin to the Fosterville and Costerfield operating mines to the west. Despite limited modern exploration, recent drilling by Great Pacific Resources between 2021 and 2024 has returned significant gold mineralization along a recently defined NW-SE gold-in-soil geochemical anomaly. Management believes based on due diligence that a focused and systematic approach incorporating modern-day exploration methods is required to define the structural and geochemical controls on gold mineralization at a regional scale, noting similarities to other goldfields in the area with geology associated ...