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BCGold Corp. Amends Property Agreement with Blind Creek Resources Ltd.
(via Thenewswire.ca) Vancouver, British Columbia / TNW-ACCESSWIRE / August 12, 2014 / ...
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[{"type":"text","content":"BCGold Corp. Amends Property Agreement with Blind Creek Resources Ltd.(via Thenewswire.ca)\n \n \nVancouver, British Columbia /TNW-ACCESSWIRE / August 12, 2014 / (TSX-V: BCG) - BCGold Corp. (\"BCGold\" or the \"Company\") is pleased to announce that the Company and Blind Creek Resources Ltd. (\"Blind Creek\") have amended the Blind Creek Letter Agreement, under which BCGold may earn up to a 100% interest in the Blind Creek property (see August 19, 2013 news release). The amendment, subject to TSX Venture Exchange approval, includes the following:\n\n \n \n\n\n-Each of BCGold's annual option commitments over four years, totalling $400,000 in eligible exploration expenses, issuance of 1,000,000 BCGold common shares, and cash payments of $225,000 to Blind Creek, are extended by one year.\n\n\n\n \n \n\n\n-In consideration of the above, BCGold will issue 100,000 common shares to Blind Creek 15 days after receipt of Exchange approval of the amendment. \n\n\n\n \n \nAbout the Blind Creek Property\n\n\n \nThe Blind Creek property is situated adjacent to BCGold's 100% owned historic Engineer Mine property, located 32 km southwest of Atlin, B.C. The 1,105 ha property overlays the southeastern extensions of two shear structures (Shear A and Shear B) that are known to host broad zones of gold-bearing hydrothermal breccias on the Engineer Mine property. The Blind Creek property also partially overlays an untested 250-m wide, circular magnetic high and coincidental gold and arsenic-in-soil anomaly, flanked by a 1,000-m-long resistivity high and occurring at the intersection of the Shear A and Shear B structures. These features are believed to represent a near-surface intrusion and gold-bearing alteration envelope, and possible core of the Engineer Mine epithermal gold mineralizing system. \n\n\n \nBCGold field crews will conduct a limited summer work program of additional soil sampling, geological mapping and prospecting, to further qualify the nature of these anomalies later this summer. The Company is positioning itself to drill test this target when better market conditions prevail.\n\n\n \nAbout BCGold\n\n \n \nBCGold is a Vancouver-based junior resource company focused on copper and gold exploration in under-explored, historic and emerging mining districts in British Columbia and Yukon. The Company acquires and develops conceptual, earl...