CSE New Listing - Project One Resources Commences Trading on the Canadian Securities Exchange - Video News Alert on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - June 13, 2019) - Project One Resources (CSE: PJO) is one of the latest new listings on the Canadian Securities Exchange. The company holds a 100% interest in the Aura Property located in south western B.C. approximately 10 kilometers east of the Coquihalla Highway 25 kilometers northeast of the community of Hope. It is close to two recently operated mines, in an area that is approved for mine development.
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The property, approximately 150 kilometers east of Vancouver, comprises 2,706 hectares of contiguous claims which were acquired by direct purchase and staking with no underlying option payments or Royalties.
Previous exploration work by Noranda in the late 1980's identified a gold bearing, silicified, breccia zone interpreted as a high-level epithermal type occurrence, referred to as the Aura Breccia. Mineralization is exposed over a length of approximately 100 meters, however contacts and potential extensions are overburden covered and the geometry of the zone has not been determined. Preliminary sampling by Noranda indicated that the breccia zone was consistently mineralized and returned gold values ranging from several hundred parts per billion to 1,830 parts per billion, equivalent to 1.83 grams per tonne gold.
An airborne geophysical survey conducted by Project One identified a cluster of three high priority target areas as well as a series of magnetic lineaments that have been interpreted as possible structurally controlled mineralization localized at, or near, the bedrock-overburden interface. Satellite imaging and alteration analysis and results of the compilation studies completed by Project One show that the cluster of new targets are located upslope of a strong "gold in stream" anomaly reported by the BCGS.
Recommended phase one work program has been designed to further test the new interpretation of the historic information and follow up on the improved geological model for the property.
The company recent closed its IPO, raising gross proceeds of $400,000 from the placement of 4 million shares priced at $0.10 per share, with Haywood Securities acting as agent for the offering.
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