RJK Explorations Ltd Signs Exclusive Agreement with Eagle Geosciences For Kimberlite Identification Technology
Kirkland Lake, Ontario--(Newsfile Corp. - January 14, 2020) - RJK Explorations Ltd. (TSXV: RJX.A) (OTC: RJKAF) ("RJK" or the "Company") has entered into a $50,000 agreement with Eagle Geosciences of Rouyn-Noranda, Quebec. Eagle Geosciences has agreed to provide exclusive services to RJK to deploy their new kimberlite identification technique. The agreement has a period of one year, however, it can be extended on a yearly basis at the discretion of RJK by paying Eagle Geosciences $50,000 on the anniversary date of the initial signing of the agreement.
As a success bonus, Eagle will be entitled to 250,000 RJK Class A shares on any economic diamondiferous kimberlite discovery that Eagle identifies using their propriety kimberlite recognition technology. RJK will also have access to any other kimberlite identification technology they develop while under this agreement. The bonus shares will be issued upon RJK receiving a bankable feasibility study.
This identification method uses algorithms based on geophysical signatures of known diamondiferous kimberlites within the Temiskaming Rift Valley. Among those kimberlite pipes are the 95.1 and 95.2 pipes located approximately 20 km north of RJK's diamond exploration claims and discovered by RJK's Project Manager, Peter Hubacheck in 1995.
Eagle Geosciences has identified a cluster of pipe-like structures, with very similar physical signatures to the existing diamondiferous kimberlites to the north, located on RJK's optioned land claims in the Lorrain Township. These are considered priority drill targets for the company and will be tested during the upcoming winter drilling program. Two of these specific geophysical signatures are shown in the image below.
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RJK, in cooperation with Insidexploration and Steve Labranche of Eagle Geosciences, have produced a short video explaining the significance of the initial findings using this technology. The video will be uploaded to RJK's Facebook page (https://www.facebook.com/rjkexplorations) and also to the RJK website page (https://www.rjkexplorations.com/Eagle-Geosciences-Video/)
Peter Hubacheck, Project Manager, states, "The Eagle kimberlite identification technology is a new tool that compliments our multi-disciplinary approach facilitating the target selection process and cost efficiency of kimberlite exploration. The initial findings of the technology seem promising and if it proves successful in identifying diamondiferous kimberlite pipes, then we intend to apply this new method on all our staked and optioned land claims. We welcome Eagle Geosciences on the team as we search for the source of the Nipissing Diamond."
Mr. Peter Hubacheck, P.Geo, Project Manager for RJK is the Qualified Person as defined by National Instrument 43-101, has approved the technical disclosure in this release.
Company Information: Tel: (705) 568-7445
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Forward Looking Information
This news release includes certain forward-looking statements, which may include, but are not limited to, statements concerning future mineral exploration and property option payments. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions "will", "anticipate", "believe", "plan", "estimate", "expect", "intend", "propose" and similar expressions. Forward-looking statements involve known and unknown risks and uncertainties that could cause actual results, performance, or achievements to differ materially from those expressed or implied in this news release. Factors that could cause actual results to differ materially from those anticipated in this news release include, but are not limited to, the financial resources of the Corporation being inadequate to carry out its stated plans. RJK assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those reflected in the forward-looking statements except as required by applicable law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/51459