Business
Rosita Increases Land Position at Moosehead Project; Rosita Establishes Moosehead Gold Inc. as 100% Subsidiary
(via TheNewswire) August 22, 2018 / TheNewswire / Rosita Mining Corporation (RST:...
About this update from King Global Ventures Inc.
[{"type":"text","content":"Rosita Increases Land Position at Moosehead Project; Rosita Establishes Moosehead Gold Inc. as 100% Subsidiary(via TheNewswire)\n \n \nAugust 22, 2018 / TheNewswire / Rosita Mining Corporation (RST: TSX-V) (Frankfurt & Munich - 5LM1) (\"Rosita\" or the \"Company\") is pleased to announce that it has increased its land holding in Newfoundland by adding to the previously announced Marilyn Three Property (announced August 14, 2018). The additional land package was staked to cover prospective geology along the contact of the Botwood Group and the Mount Peyton Intrusive. Also, the additional claims cover parallel epithermal textured boulder trains and the possible strike extension of the in situ epithermal system. \n\n\n \nAs previously announced: The Marilyn Three Property is located within a northeast-trending belt of Silurian volcanic, volcaniclastic and sedimentary rocks, adjacent to a large bimodal intrusive. This intrusive (The Mount Peyton complex) is thought to be responsible for the large regional fault structure located within the larger area and within the property. The project now consists of 161 claim blocks representing exclusive exploration rights to a land package of approximately 9,945 acres (4,025 hectares) and lies within the same belt of rock and on trend with the mineral license hosting Sokoman Iron Corp.'s recently announced discovery hole (Sokoman Iron Corp. (SIC-TSXV) news release dated July 24, on its Moosehead gold project, where Sokoman Iron reported a drill intersection of 44.96 grams per tonne gold over 11.9 metres). Additionally, within the property, recent work has identified quartz sub-crop blocks (enriched in silver, arsenic and antimony) with assays up to 4.8g/t Au. These blocks are located approximately 150m west of a recently identified 10-15m wide epithermal vein system in outcrop. Appearances and textures indicate the vein outcrop is a fully preserved epithermal quartz veined system with potential significant grades just below the surface within the boiling zone. \n\n\n \nRosita is responsible to the Vendors for the additional staking costs for the additional 57 claim blocks.\n\n\n \nIn addition, Rosita announces that it has established a wholly-owned subsidiary named Moosehead Gold Inc. to hold its property in this emerging gold exploration play.\n\n\n \nThe technical contents of this news r...