Newsfile Corp. Stakeholder (TSXV: SRC) Announces Private Placement Terms
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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
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