CSE New Listing - Walcott Resources Commences Trading on the Canadian Securities Exchange - Video News Alert on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - August 1, 2019) - Walcott Resources (CSE: WAL) is one of the latest new listings on the Canadian Securities Exchange. The company has an option to acquire a 100% interest in the Cobalt Hill Property, which is located approximately 5 kilometres east of Castlegar in southeastern British Columbia. The property consists of 8 contiguous mineral titles covering a total area of 1,727 hectares.
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In order to earn its 100% interest the company is required to pay $355,000 and issue 1,100,000 shares in staged payments, with $280,000 and 700,000 shares remaining to be paid over the next 18 months.
The property exhibits widespread gold mineralization generally associated with narrow, often wide-spaced quartz veins. This high-grade gold mineralization has been found in numerous locations throughout the property and is well described in historic assessment reports filed with the BC Ministry of Energy and Mines.
The various historic workings on the property occur in areas with one or more gold-bearing quartz veins. Copper-cobalt mineralization was recently identified on the property during on-going prospecting and sampling programs. Newly identified copper-cobalt mineralization at the BP showing represents a noteworthy, previously unexplored target. Rock grab samples from the BP showing have returned values of 0.49% and 0.63% copper and 0.12% cobalt.
A logging road and numerous powerline access roads provide good road access to most parts of the property, with a high voltage power line crossing the property with a standard right of way.
A two-phase exploration program is recommended for the Cobalt Hill Property. Phase I will include compilation of previous exploration work along with the recently completed ground geophysical survey results. An expanded geochemical survey and structural geological mapping is required to produce more detail in mineralized areas.
The best targets defined by geology, geochemistry and geophysics will be trenched where bedrock is deemed shallow. Upon completion of Phase I, implementation of a Phase II diamond drilling program will be considered.
The company recently closed its IPO, raising gross proceeds of $350,000 from the placement of 3.5 million shares priced at $0.10 per share. PI Financial acted as agent on the offering.
For more information, please contact Marshall Farris, President and CEO, at 604-637-6373 or email marshall@AscentaFinance.com.
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