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Signature Resources Announces Completion of Airborne Survey of Its Lingman Lake Property
TORONTO, March 27, 2018 (GLOBE NEWSWIRE) -- Signature Resources Ltd. (TSXV:SGU) (OTCQB:SGGTF) ("Signature" or the "Company") announces that the airborne survey
About this update from Signature Resources Ltd.
[{"type":"text","content":" TORONTO, March 27, 2018 (GLOBE NEWSWIRE) -- Signature Resources Ltd. (TSXV:SGU) (OTCQB:SGGTF) (\"Signature\" or the \"Company\") announces that the airborne survey of its Lingman lake property has been completed. The airborne survey conducted by Teraquest Ltd. consisted of the acquisition of data using high resolution magnetics and digital matrix VLF EM. 2,270 line kilometers were flown covering the majority of Signature’s 9,896.8 hectare property. “We are very excited that the data acquisition phase has been completed. The next steps are data processing and the production of maps for final interpretation. We wait in anticipation to receive the final products,” commented Walter Hanych, President and CEO. About Signature Signature’s Lingman Lake gold property consists of four free hold patented claims and the 50 staked claims, totaling 9,896.8 hectares. The property hosts an historic estimate of 234,684 oz. of gold* (1,063,904 tonnes grading 6.86 g/t with 2.73 gpt cut-off) and includes what has historically been referred to as the Lingman Lake Gold Mine, an underground substructure consisting of a 126.5-meter shaft, and 3-levels at 46-meters, 84-meters and 122-meters depths. *This historical resource estimate is based on prior data and reports obtained and prepared by previous operators, and information provided by governmental authorities. A Qualified Person has not done sufficient work to verify the classification of the mineral resource estimates in accordance with current CIM categories. The Company is not treating the historical estimate as a current NI 43-101-compliant mineral resource estimate. Establishing a current mineral resource estimate on the Lingman Lake deposit will require further evaluation, which the Company and its consultants intend to complete in due course. Additional information regarding historical resource estimates is available in the technical report entitled, “Technical Report on the Lingman Lake Property” dated December 20, 2013, prepared by Walter Hanych, P.Geo., and Frank Racicot, P.Geo., available on the Company’s SEDAR profile at www.sedar.com. To find out more about Signature Resources Limited, visit our website at www.signatureresources.ca, or contact: Walter HanychChief Executive Officer705.446.5379 Cautionary Notes Neither TSX Venture Exchange nor its Regulation Services Provider (as th...