Business
Gold79 Issues Shares for Jefferson Canyon Anniversary Payment
Ottawa, Ontario--(Newsfile Corp. - June 1, 2022) - Gold79 Mines Ltd. (TSXV: AUU) (OTCQB: AUSVF...
About this update from West Point Gold Corp.
[{"type":"text","content":"Gold79 Issues Shares for Jefferson Canyon Anniversary PaymentOttawa, Ontario--(Newsfile Corp. - June 1, 2022) - Gold79 Mines Ltd. (TSXV: AUU) (OTCQB: AUSVF) (\"Gold79\" or the \"Company\") announces that it intends to issue 632,400 common shares of the Company at a deemed value of CDN$0.05 per common share in connection with the US$25,000 third anniversary payment due under the terms of the Jefferson Canyon, Nevada property option agreement with Thorsen-Fordyce Merchant Capital Inc. The common shares issued will have a statutory hold period of four months and one day from the date of issuance. This share for debt transaction remains subject to TSX Venture Exchange approval.As previously announced (see press release dated April 7, 2022), the Company anticipates receipt of final drill permits for the Jefferson Canyon project in Q3 2022. Derek Macpherson, President and CEO, stated, \"We continue to progress Jefferson Canyon towards a maiden drill program later this year. We expect to receive permits in Q3 2022 and to start drilling shortly thereafter. The historical geological, geophysical and drilling database for the Jefferson Canyon project highlight a gold-silver project with significant scale potential.\"About Gold79 Mines Ltd.Gold79 Mines Ltd. is a TSX Venture listed company focused on building ounces in the Southwest USA. Gold79 holds 100% earn-in option to purchase agreements on three gold projects: the Jefferson Canyon Gold Project and the Tip Top Gold Project both located in Nevada, USA, and, the Gold Chain Project located in Arizona, USA. In addition, Gold79 holds two projects with minority interest being a 36.6% interest in the Greyhound Project, Nunavut, Canada under JV by Agnico Eagle Mines Limited and a 20% carried interest in the Taviche Project in Oaxaca, Mexico now under option to Fortuna Silver Mines Inc.For further information regarding this press release contact: Derek Macpherson, President & CEOPhone: 416-294-6713Email: [email protected]: www.gold79mines.com.Book a 30-minute meeting with our CEO here. Stay Connected with Us:Twitter: @Gold79MinesFacebook: https://www.facebook.com/Gold79MinesLinkedIn: https://www.linkedin.com/company/gold79-mines-ltd/FORWARD-LOOKING STATEMENTS:This press release may contain forward looking statements that are made as of the date hereof and are based on current expect...