Business
Jayden Receives TSXV Approval for Harry Acquisition
(TheNewswire) Vancouver, B.C. - TheNewswie - January 12, 2021; Ja...
About this update from Jayden Resources Inc
[{"type":"text","content":"Jayden Receives TSXV Approval for Harry Acquisition\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n Vancouver, B.C. -\n \n \n TheNewswie\n-\n \n \n January 12, 2021; Jayden\nResources Inc. (\"Jayden\" or the “Company\")\n \n \n (\n \n \n TSXV:JDN)\n \n \n (OTC:PNMLF)\n \n \n is\npleased to announce that it\n \n \n has received final\nacceptance from the TSX Venture Exchange (the “Exchange”) for the\nacquisition of the Harry and Outland Silver Bar properties (the\n“Property”) from Teuton Resources Corp. (“Teuton”) (TUO:TSXV)\nas announced on September 4, 2020.\n \n \n \n \n Pursuant to the terms of the option agreement entered\ninto between the Company and Teuton, the Company may acquire an\ninitial 55% interest in the Property by making aggregate cash payments\ntotaling $180,000 ($25,000 in the first year) to Teuton and incurring\n$2,000,000 ($100,000 in the first year) in exploration expenditures\nover the course of 5 years. An additional 20% interest in the Property\ncan be acquired by Jayden taking the Property into commercial\nproduction on or before January 12, 2036. Teuton will retain a 2% net\nsmelter royalty on the Property.\n \n \n \n \n On December 9, 2020, Teuton announced that it had\ndiscovered a new zone of mineralization the Harry property averaging\n7.86 ounces/ton gold (269.5 g/t) across a 2 metre width (see the\nCompany’s news release dated December 9, 2020). The full width of\nthe zone has not been defined due to overburden cover. The new\nshowing, called the “Milestone”, was found during prospecting by\nTeuton geologists and occurs in virgin ground exposed in recent years\nby retreating ice. Locally, a 300m wide zone with gossanous outcrops\ninterspersed with glacial till features intense quartz-sericite-pyrite\nalteration. The main showing contains coarse dendrites of visible gold\nwithin a milky quartz vein breccia. Many of the surrounding outcrops\nhave small veins carrying pyrite and galena (lead sulfide).\n \n \n \n \n During the 2020 assessment program on Harry carried out\nby Teuton, a modest number of grab and chip samples were taken during\nprospecting traverses of the northern portion of the Harry property.\n A grab sample from the Milestone showing ran 45.3 ounces/ton gold\n(1,553 g/t) and 18.7 ounce/ton silver (642 g/...