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Taku Gold to Acquire Three Gold Exploration Properties in Newfoundland and Announces $1,000,000 Private Placement
VANCOUVER, British Columbia, Nov. 04, 2020 (GLOBE NEWSWIRE) -- Taku Gold Corp. (CSE: TAK; OTCQB: TAKUF) (the “Company” or “Taku”) is pleased to announce it has
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[{"type":"text","content":" VANCOUVER, British Columbia, Nov. 04, 2020 (GLOBE NEWSWIRE) -- Taku Gold Corp. (CSE: TAK; OTCQB: TAKUF) (the “Company” or “Taku”) is pleased to announce it has entered into three separate option agreements with Mr. Shawn Ryan and Wildwood Exploration Inc. (the “Optionors”) to acquire a 100% interest in three properties in Newfoundland. The properties are located in the Central Newfoundland Gold Belt and encompass 455 sq km with road access and proximity to local communities and power lines. The Newfoundland projects are located in an area of historic mines and operating gold mines. The recent surge in gold prices combined with New Found Gold Corp.’s recent discoveries (Keats and Lotto zones), a robust public geoscience database, and an effective and transparent regulatory regime are factors contributing to a sharp uptick in gold exploration across Newfoundland, which is now considered a top exploration jurisdiction in Canada. Janet Lee-Sheriff, Executive Chair comments: “With this acquisition Taku Gold has accumulated a significant land position in the highly regarded Newfoundland jurisdiction, providing our shareholders with the benefit of jurisdictional diversification. We are excited to continue our working relationship with Shawn Ryan who has brought his world-renowned exploration skills and gold deposit discovery track record to Newfoundland. The province is highly regarded as a top mineral exploration jurisdiction in Canada, with significant exploration and development underway, a government supportive of mineral exploration and development investment and a regulatory regime which provides reasonable timelines, clarity and certainty in the permitting and assessment process.” Lori Walton, P.Geo. and Chief Executive Officer added: “These acquisitions consolidate some of the most prospective areas along the eastern Exploits zone based on government studies of gold in till, airborne geophysics and detailed soils (2015) and detailed tills (2016). The government data combines with recent age dating from the Jaclyn deposit (2.5 km to the northwest of the Badger property) and points to prospective Fosterville style targets on all three claim blocks. We will be working with Mr. Ryan to review existing information to develop a rigorous and systematic exploration program going forward.” The Company also announces a private placement...