Newsfile Corp. Stakeholder (TSXV: SRC) Announces Private Placement Terms
Toronto, Ontario - (Newsfile Corp. - June 9, 2014) (www.investorideas.com newswire) Stakeholder Gold Corp. (TSXV: SRC) ("Stakeholder" or the "Company") is pleased to announce it plans to complete a private placement financing to further exploration on the Bass River IOCG exploration project. The private placement financing will consist of 5M units at $0.20 per unit (the "Units) and 5M flow through units at $0.25 per flow through unit (the "Flow Through Units"). Each Unit will consist of one common share and one half of one common share purchase warrant with each full warrant being exercisable at $0.30 for a period of two years. Each Flow Through Unit will consist of one flow through common share and one half of one warrant with each full warrant being exercisable at $0.35 for a period of two years. The funds will be used to advance the 2014 program on the Bass River IOCG exploration project in Nova Scotia.
The exploration program currently in progress involves collecting soil and rock samples for geochemical analysis to follow up on conductive electromagnetic anomalies first identified during VTEM (Versatile Time Electromagnetic Domain) surveys carried out in 2012. The VTEM surveys of 2012 were themselves undertaken in follow up to gravity surveys undertaken in 2008 and 2009, which identified significant gravity anomalies across the project and along strike of the Cobequid-Chedabucto fault system.
Coincident gravity and conductive VTEM anomalies, in this iron rich and mineralized environment, could represent classic IOCG deposit characteristics. Modelling of the geophysical data has prioritized 5 distinct targets over which geochemical surveys are now being completed, and on which drilling is expected to be undertaken.
Company work initiatives include soil and outcrop sampling on grids covering the largest conductive anomalies. This includes a very large north-east trending electromagnetic anomaly found at depth off of the northern flank of the most extensive gravity outline. This conductive anomaly would be the Company’s primary exploration target of interest, and has been identified extending for over 750 meters of strike length. The anomaly is open to the north east, and the survey ended showing conductivity extending along trend.
Detailed mapping and prospecting in areas of the defined electromagnetic anomalies will compliment soil geochemistry and ground geophysics (Pulse EM.) in delineation of drill targets, and in the selection of drill collar locations.
Geochemical results from samples taken over top of the conductive anomalies will be available and made public by the end of June, or by early July. This will be followed by ground geophysics and then drill testing as soon as possible during August or September of this year (summer 2014).
For more information, please contact
Christopher J. Berlet, CFA
President and CEO
Stakeholder Gold Corporation
Phone: (416) 525 – 6869
This news is published on the Investorideas.com Newswire and its syndicated partner network
Get free news alerts:
Sign up here
Published at the Investorideas.com Newswire - Big ideas for Global Investors
Disclaimer/ Disclosure:The Investorideas.com newswire is a third party publisher of news as well as creates original content as a news source. Original content created by investor ideas is protected by copyright laws other than syndication rights. Investorideas is a news source on Google news and global syndication partners. Our site does not make recommendations for purchases or sale of stocks or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated by featured companies, news submissions and advertising. Contact each company directly for press release questions. Disclosure is posted on each release if required but otherwise the news was not compensated for and is published for the sole interest of our readers.
BC Residents and Investor Disclaimer: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.