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JNC Resources Expands Land Portfolio in Australia with Historical Grades of 132 g/t Au and 1648 g/t Ag
VANCOUVER, BC / ACCESSWIRE / December 8, 2020 / JNC Resources Inc. (CSE:JNC) ("JNC" or the "Company") is pleased to announce that the Company has signed a Lette
About this update from Metalite Resources Inc
[{"type":"text","content":" VANCOUVER, BC / ACCESSWIRE / December 8, 2020 / JNC Resources Inc. (CSE:JNC) (\"JNC\" or the \"Company\") is pleased to announce that the Company has signed a Letter of Intent (\"LOI\") with Southern Precious Minerals Limited (\"SPML\"). SPML is an Ontario corporation that owns two large historically producing land packages in the state of New South Wales (\"NSW\"), Australia. NSW is one of the most prolific gold territories for exploration and production since the 1850s. It is the second largest gold producing area in Australia with a gold endowment exceeding 3160 tonnes. The New South Wales resources sector is vibrant, with world-class deposits, a highly skilled workforce and a well-earned reputation for safe, responsible and innovative mining practices. The first of the two properties is known as Malebo (ELA 6123) and is located in the central-south region of the Lachlan Orogenic belt. The Lachlan Orogen region of New South Wales Victoria and eastern Tasmania is comprised of a series of prolifically mineralized accretionary terranes which host a number of economically important mineralized deposits. The Malebo Exploration License straddles over 40 kilometers of this structure and hosts five historic gold mines and prospects including: Prospectors Reef: a historic gold mine associated with structurally-controlled quartz veins. An historic bulk sample had a reported head-grade of 31 g/t Au. Egans Prospect: comprises a series of shallow historic shafts, drives, pits and costeans. Samples collected in 1974 assayed up to 270 g/t Au, 3500 g/t As and 840 g/t Pb - typical of orogenic gold mineralization throughout the region. Visible gold is noted. The historic Malebo Mine: comprises several shallow exploration shafts. Samples collected in 1971 assayed up to 4.5 g/t Au and 71 g/t Ag. The second property is Solomons (ELA 6115) which is located in the north-east of the New England Orogenic Terrane region. The New England Orogenic Terrane comprises island-arc and continental-arc gold-mineralized belts, which host extensive alluvial gold fields and a number of economically important gold deposits. The license includes 12 historic gold mines and prospects which follow a large linear NE/SE trend yet the license is largely under-explored. Historical records from small-scale production cite grades of up to 132 g/t Au and 1648 g/t Ag includi...