Business
Richmond Minerals Inc. Announces Property Acquisition and Ridley Property Exploration Update
Richmond Minerals Inc. Announces Property Acquisition and Ridley Property Exploration Upd...
About this update from Richmond Minerals Inc.
[{"type":"text","content":"\n \n \n \n Richmond Minerals Inc. Announces Property Acquisition and Ridley Property Exploration Update\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n Trading Symbol TSX(V): RMD\n \n Boerse Frankfurt: WKN A1W98A: R52\n \n \n \n \n TORONTO\n \n ,\n \n April 14, 2021\n \n /CNW/ - Richmond Minerals Inc. (TSX-V: RMD) (\"\n \n \n Richmond\n \n \n \") is pleased to announce that it has acquired 6 boundary claims located in Huffman Township (the \"Huffman Property\") within the Swayze Greenstone Belt area approximately 130 km southwest of\n \n Timmins, Ontario\n \n . The Huffman Property lies within and is contiguous with the Cote Gold JV Project currently owned and operated by IAMGOLD (70%) and Sumitomo Metal Mining Company (30%). Located 7 km east of and on strike with the historical\n \n Jerome Gold Mine\n \n ,\n \n Richmond's\n \n Huffman Property contains a prospective contact zone between a quartz feldspar porphyry intrusive unit and Temiskaming-Type clastic metasedimentary rocks. Leased mining claims previously occupied the Huffman Property claim area and consequently there are no historical reports of exploration work.\n \n \n \n \n \n \n \n \n \n Under the terms of the acquisition agreement,\n \n Richmond\n \n paid\n \n $15,000\n \n cash and issued 100,000 common shares to the vendor of the Huffman Claims. The vendor will also retain a 0.5% net smelter return. Final approval of the acquisition is subject to the review and approval of the TSX Venture Exchange.\n \n \n Additionally, diamond drilling at the Ridley Lake gold project concluded at the beginning of February and consisted of drilling six holes totaling\n \n 2,227 m\n \n that tested for Aguara Zone western extensions of gold mineralization. Assay results are pending and further updates will be provided as soon as the results are available.\n \n \n \n Warren Hawkins\n \n , P.Eng, a \"Qualified Person\", within the meaning of Nation Instrument 43-101- Standards of Disclosure for Minerals Projects, has reviewed and approved the ...