CSE New Listing - Prophecy Potash Corp. Commences Trading on the Canadian Securities Exchange - Video News Alert on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - August 13, 2019) - Prophecy Potash Corp. (CSE: NUGT) is one of the latest new listings on the Canadian Securities Exchange. Prophecy Potash is a Canadian based Mineral Exploration Company exploring for copper, cobalt, gold and platinum group elements.
For more information, please view the InvestmentPitch Media "video" which provides additional information on the company. If this link is not enabled, please visit www.InvestmentPitch.com and enter "Prophecy" in the search box.
Cannot view this video? Visit:
The company has an option with Eastfield Resources to acquire a 60% interest in the Indata Project, in which Eastfield owns 91.2% withy Imperial Metals Corporation owning the balance of 8.8%. The Indata Project, located in the Omineca Mining Division, is situated in north-central British Columbia, approximately 130 kilometres northwest of the community of Fort St. James and 230 kilometres northwest of the city of Prince George. The Indata Project consists of 16 mineral claims totalling 3,188 hectares and is situated in a complex geological setting adjacent to the Pinchi Fault, a major structure separating the Cache Creek and Quesnel Terranes.
Approximately $2,640,000 has been spent exploring the Indata property since 1984, with the most recent work
completed from 2007 - 2013. Exploration on the Indata Project has resulted in the discovery of a number of metallic mineral occurrences which can be divided into two main types: porphyry copper mineralization and quartz-carbonate polymetallic vein mineralization. In 1988, a previous operator reported an historical drill result of 4.0 meters of 46.2 grams per tonne gold and 2.0 grams per tonne silver.
In order to earn its 60%, the company must incur $2,000,000 in exploration expenditures, pay $250,000 in cash and issue a further $150,000 in shares over a 5-year term expiring on June 20, 2023
The company recently closed its IPO, raising gross proceeds of $550,000 from the issuance of 5.5 million shares priced at $0.10 per share. PI Financial acted as agent for the offering.
About InvestmentPitch Media
InvestmentPitch Media leverages the power of video, which together with its extensive distribution, positions a company's story ahead of the 1,000's of companies seeking awareness and funding from the financial community. The company specializes in producing short videos based on significant news releases, research reports and other content of interest to investors.
Barry Morgan, CFO
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/46891