VANCOUVER, B.C. - Silver Pursuit Resources Ltd. (the “Company”) is pleased to announce the acquisition of extensive and detailed data for 11 of the 19 properties staked in 2016 from Cordilleran Resources Ltd. (“Cordex”) long considered Nevada’s premier private mine finder. The data consists of files and records extracted from the Cordex library which has resulted in 45 years of continuous exploration by the two Cordex partners, John Livermore and Andy Wallace.
John Livermore is credited with the discovery of the Carlin Mine and the Carlin Trend which currently produces over 4 million ounces of gold annually, contributing $1.8 billion to Nevada's economy and employing thousands. It has already produced more gold than was mined or discovered in either the California Gold Rush or the Comstock Lode. By 2008, mines in the Carlin Trend had produced over 70 million ounces of gold, worth around $85 billion, making it one of the richest gold mining districts in the world. Cordex’s work also led to the discovery of the Pinson, Preble, Sterling, and Dee mines and development of the Getchell Trend, second only to the Carlin Trend in Nevada gold production.
The purchased data, which is being compiled and digitized, will be included in the Company’s GIS program and will be incorporated in future exploration planning. The extensive files include detailed geology mapping, sampling, geophysics (ground and airborne), geochemical surveys, aerial photography and extensive drilling (+200,000 feet) with drill logs and assays.
The work described above was completed in several phases by Cordex and several major international mineral companies that include Newmont, BHP-Nippon, Western Mining, Cordex-Navaho, Teck, Western States, Hecla, Freeport and US Steel. Research into other work completed in the project areas continues as this work was not contained in the Cordex private files.
Several factors contributed to identifying the staked mineral opportunities but a project must have an minimum of a 10 year ownership history by a significant mining company. There are 8 claim groups which the detailed work history has not been located. The Company has retained Nevada based consultants to assist in this ongoing research.
The Company feels that in 2017 it will, as a project generator be able to offer several advanced stage projects for sale, joint venture or option that will contain geological and technical evidence to support further drilling and development. These projects are located in the major mineralized Nevada trends and coverage in 7 counties.
Although gold is the primary targeted metal in a Carlin-like geological setting, significant silver and tungsten projects are also contained in the Company’s portfolio. All claims are owned 100% by the Company and are royalty free. All taxes and lease payments are fully paid for 2017. Company expects to release additional historical information on the properties as it becomes available.
ON BEHALF OF SILVER PURSUIT RESOURCES LTD.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release contains “forward-looking information” within the meaning of that phrase under applicable Canadian securities law. This information reflects management’s current assumptions and expectations but known and unknown risks, uncertainties and other factors may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information is subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, risks and uncertainties relating to the estimation of mineral resources and reserves, the geology, grade and continuity of mineral deposits, the possibility that exploration, development or mining results will not be consistent with the Company’s expectations, title matters and surface access issues, the potential for delays in exploration or development activities, the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, failure to obtain adequate financing, the possibility that the Company may not sell its projects or secure joint venture partners or optionees, and other risks and uncertainties. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company disclaims any obligation to update or revise any forward looking information to reflect events or changes in circumstances that occur after the date of this news release.