June 15, 2021
JNC Resources Strengthens Australian Portfolio With the Addition of Two Strategic Past Producing Properties
Trading Symbol: JNC (CSE) (OTCBB:JNCCF) (FRA:5VH)
VANCOUVER, BC / ACCESSWIRE / June 15, 2021 / (CSE:JNC)(OTC PINK:JNCCF)(FSE:5VH) – JNC Resources Inc. (“JNC” or the “Company”) is pleased to announce that the Company has signed a Letter of Intent (“LOI”) with Aussie Precious Metals Corp. (“APMC”). APMC is an Ontario corporation that owns two large historically producing land packages in the state of New South Wales (“NSW”), Australia. The addition of the properties to JNC’s NSW portfolio complements one the Company’s recently announced RooGold property which covers the northern portion of the Copeland goldfield, located approximately 65km south-east across the same mineralized system as the two APMC properties.
NSW is one of the most prolific gold territories for exploration and production since the 1850s. It is the second largest gold producing area in Australia with a gold endowment exceeding 3160 tonnes. The New South Wales resources sector is vibrant, with world-class deposits, a highly skilled workforce and a well-earned reputation for safe, responsible and innovative mining practices.
The first of the two properties is known as Trilby (ELA 6237) comprising of 215 km2 and is located in the western portion of the New England orogenic terrain. The area spans a 35km long section of the serpentanized Peel-Manning Fault system within the eastern boundary of the New England orogenic terrain. The area includes the Trilby historic gold mine, consisting of swarmed meta-hydrothermal quartz veins with visible gold noted. The geological setting is highly prospective for Listwanite associated gold mineralization. The Peel-Manning Fault zone is significantly gold endowed to the north (Bingara Alluvial field) and the south (Nundle gold field) of the application area. Hard rock gold lode deposits are also abundant across the fault suite. Hence, the potential for significant listwanite associated orogenic precious metal deposits are considered viable exploration targets.
The second property is known as Lorne (ELA 6234) comprising of 102.5 km2, which is located in the western portion of the New England orogenic belt. The area spans 12 strike kilometres of the significantly gold mineralized regional Peel-Manning fault system. Mineralization is of an orogenic or lode gold type and is characterized by quartz veins which may host high grade gold shoots. The area includes twenty-eight past producing gold mines and prospects. Historical production and prospecting records define a 1 km wide, 7.5 km long gold trend. Historical hard-rock production grades of up to 15 g/t Au are cited on the NSW MinView website. The historic mines include the past producing Marquis of Lorne orogenic gold-antimony mine, with over 500 m of historical underground workings and historic estimated reserves of 50,000 oz Au. Historic drill hole intercepts of up to 5 g/t Au over 5m are recorded across this zone from 5 drill holes, according to NSW government archive records.
“We are very excited about the opportunity to expand our land holdings with these two premier past producing properties in the mining friendly jurisdiction of Australia. These properties, together with the SPML and RooGold properties, provide JNC with a comprehensive portfolio with many high level potential targets in a proven mineral resource region. To have an opportunity to build out such an impressive land package in a great region speaks to the commitment in building a world class miner. We will continue to leverage off of our relationships to add shareholder value to JNC Resources,” stated CEO, Michael Mulberry, “Australia has a long history of being one of the largest, most prolific producers of gold.”
Please note that while the Company considers the historic results quoted above from the two properties to be accurate, readers are cautioned that a Qualified Person has been unable to verify the laboratory involved in the analysis of these samples, and no documentation was available regarding quality control procedures utilized in the analysis.
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 is a North American-based junior venture mineral exploration company with a goal to develop under-explored properties and benefit from deal flow generated by strategic partnerships and growth opportunities. JNC has recently acquired the Malebo and Solomon claims in the province of New South Wales, Australia, with an exploration program planned in 2021. JNC also has an option agreement with Great Basin Resources 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.
For further information please contact:
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.