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Signature Resources Announces DTC Eligibility of Its OTCQB-Listed Common Shares
TORONTO, June 27, 2018 (GLOBE NEWSWIRE) -- Signature Resources Ltd. (TSXV:SGU) (OTCQB:SGGTF) ("Signature" or the "Company") is pleased to announce that it has r
About this update from Signature Resources Ltd.
[{"type":"text","content":" TORONTO, June 27, 2018 (GLOBE NEWSWIRE) -- Signature Resources Ltd. (TSXV:SGU) (OTCQB:SGGTF) (\"Signature\" or the \"Company\") is pleased to announce that it has received its Depository Trust Company (“DTC”) Eligibility for its OTCQB-listed common shares which trade under the symbol SGGTF. “The receipt of our DTC Eligibility greatly simplifies the process of trading our common shares in the United States on the OTCQB, creating an overall benefit for all shareholders of the Company” stated Walter Hanych, CEO. The DTC is a subsidiary of the Depository Trust & Clearing Corporation that manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through the DTC are considered \"DTC eligible.\" This electronic method of clearing securities speeds up the receipt of stock and cash, and thus accelerates the settlement process for investors. About Signature The Lingman Lake gold property consists of four free hold patented claims and 762 single cell staked claims. Total land package amounts to 15,372.3 hectares. 275.5 hectares of the property total include 14 mineral rights patents. 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...