Business
Silver Pursuit Clarifies Disclosure
Vancouver, British Columbia--(Newsfile Corp. - November 12, 2013) - Silver Pursuit Resources Ltd...
About this update from Golden Pursuit Resources Ltd.
[{"type":"text","content":"Silver Pursuit Clarifies DisclosureVancouver, British Columbia--(Newsfile Corp. - November 12, 2013) - Silver Pursuit Resources Ltd. \n(TSXV: SPF) (the \"Company\") announces that as a result of a review by the BCSC, \nwe are issuing the following news release to clarify our disclosure.\nThe Company wishes to advise investors certain disclosure made \navailable on its website and in corporate presentation dated November 17, 2011 \nand titled \"La Quintera Project\" contained preliminary quantity and grade \nestimates not in accordance with National Instrument 43-101 regulations (\"NI \n43-101\"). The Company assumes responsibility for disclosure of the estimates \nhowever it wishes to retract and clarify such disclosure. To the Company's \nknowledge, there are no mineral resource estimates on the property in accordance \nwith NI 43-101, and the Company specifically retracts the disclosure previously \navailable on its website and in a corporate presentation of preliminary \nestimates of fixed tonnage and grades at the Quintera and Promontorio locations \non the La Quintera Property.\nThe estimates were prepared following dump sampling completed \nin September 2011 and were intended as preliminary estimates of the potential \nexploration target within areas covered by waste dumps from historic mining \nactivities. The disclosure did not classify the mineral resources into \nappropriate categories, did not disclose key methods, parameters and assumptions \nused to make the estimates, and did not disclose the effective date of the \nestimates, all as required by NI 43-101. The volume covered by the dumps and \nconsequently the tonnage has not been accurately estimated and therefore no \nresource estimate in accordance with NI 43-101 can be made at this time.\nThe information was originally disclosed as an exploration \ntarget in a news release dated October 21, 2011. This news release disclosed an \nexploration target of 400,000 to 600,000 tons for the historical waste dumps and \nmill tailings deposits but failed to associate a grade range to the tonnage \nrange, and did not include prominent cautionary language both as required by NI \n43-101. The Company notes that exploration target previously provided is \nconceptual in nature and that there has been insufficient exploration to define \na mineral resource and it is uncertain i...