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JNC RESOURCES SIGNS OPTION AGREEMENT WITH GREAT BASIN RESOURCES TO ACQUIRE 100% INTEREST IN THE IMPERIAL PROPERTY IN NEVADA (Demo)

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By roogold Uncategorized June 22, 2020

News Releases

June 22, 2020

JNC RESOURCES SIGNS OPTION AGREEMENT WITH GREAT BASIN RESOURCES TO ACQUIRE 100% INTEREST IN THE IMPERIAL PROPERTY IN NEVADA

Trading Symbol: JNC (CSE)

Vancouver, B.C. – JNC Resources Inc. (the “Company”)

Vancouver, B.C. – JNC Resources Inc. (the “Company”) is pleased to announce that it has signed an option agreement (the “Agreement”) with Great Basin Resources (“Great Basin”) to acquire 100% control and interest in the Imperial Project in Nevada. The Imperial Property is located in Esmeralda County, Nevada, which has been a prolific mining area in the state. The Property is in close proximity to the town of Goldfields, where gold production occurred in the early part of the 20th century.
Under the terms of the Agreement, the Company can earn a 100% interest in the Imperial Property by making cash payments totaling US $270,000 over seven years ($10,000 in the first year) and incur minimum exploration expenditures totaling US $4,300,000 over seven years ($50,000 in the first year). Great Basin will maintain a 3% net smelter return royalty on the Imperial Property.
Based on exploration data provided by Great Basin and reviewed by the Company’s chief geologist, the Imperial Project presents three major, predominantly gold, targets for exploration. The first target, along the Imperial Fault, contains high grade veins and lower grade decalcified rock in the area of previous mining. The second target is an IP anomaly which has no previous drilling. The third target is a zone where the favorable host rock has dipped under other units, but jasperoids at surface show fluids have flowed through the favorable host at depth. There is potential for both high grade veins and Carlin style mineralization in this area, which has also never been drilled. Also of interest are the high copper values found in the eastern portion of the project area, where some porphyry copper exploration was done in the 1960’s. An intrusive at depth could have Battle Mountain style (Fortitude) gold deposits surrounding it.
Due to covid 19 related travel restrictions, the Company expects to retain Great Basin as the operator of the initial drill program which the Company intends to fund this summer. Great Basin is led by its President, Mr. Richard Kern, M.Sc, P.Geo, who prior to forming Great Basin Resources Inc., co-founded MinQuest Inc. in 1998 and managed significant gold discoveries at Fire Creek and Longstreet, Nevada and at Moss, Arizona. Mr. Kern held positions with several major mining companies before starting his own company. He is a Professional Geologist with over 35 years’ experience in base and precious metal exploration in the U.S., Central America, South America, and Australia. Mr. Kern has had field, executive, and management level positions in companies such as North Mining, Homestake Mining Company, and Superior Oil. He has been involved in major mineral discoveries in the Western United States and Australia.
“We are very excited about the opportunity to begin operations in Nevada, as the Imperial Project has drill permits in place,” stated CEO Mr. Michael Mulberry. “Geophysical surveys are needed to determine the potential for this type of target; however with the history of gold deposits at these properties, we are confident about the success of our drilling program. We are cognizant of the money we need to spend in this particular gold rush and that is why we believe that the potential with this Imperial Project makes sense for our organization and with the addition of someone as the caliber of Richard and the experience and knowledge that he brings with him, we believe this is a perfect fit for our company. We look forward to the possibilities and potential this brings to maximize shareholder value.”

Qualified Persons

Warren Robb, P.Geo., is the qualified person for the Company as defined in National Instrument 43-101 and has reviewed the technical information presented within this news release.

About JNC Resources Inc.

JNC Resources is a North American mining exploration company. Our goal is to develop under-explored properties, benefit from deal flow generated by our strategic partnerships and growth opportunities. Currently JNC is developing our 100% optioned project in South Central British Columbia. The Triple 9 project consists of Gold properties with a new discovery of high levels of base metals, located 20 km outside the town of Sicamous. JNC will be actively exploring new projects and expanding its portfolio with projects that fulfill the requirements of our seasoned leadership team and continue to maximize shareholder value.

For further information please contact:
Michael Mulberry
T: 778-855-5001
info@jncresources.com

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. 

The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future of the Company and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to those identified and reported in the Company’s public filings under the Company’s SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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