Joshua Gold Resources Inc. Announces Gold Prospect Acquisition
Rhea-AI Summary
Joshua Gold Resources Inc. (JSHG) has successfully acquired a 100% interest in the Benoit West gold prospect in Northern Ontario. The property covers approximately 210 acres and is located 48 miles southeast of Timmins. Previous sampling has shown gold values exceeding 24 grams per ton. The acquisition was made through the issuance of 2.5 million common shares to the vendors, who will retain a 2% Net Smelter Royalty, half of which JSHG can buy back for $1 million CAD. The geological team is preparing to apply for exploration permits immediately.
Positive
- Acquisition of Benoit West property enhances resource portfolio.
- Potential high gold values discovered (over 24 grams per ton).
- Strategic location for exploration activities.
Negative
- None.
News Market Reaction – JSHG
On the day this news was published, JSHG declined 25.00%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
WOODSTOCK, ONTARIO, Aug. 31, 2021 (GLOBE NEWSWIRE) -- Joshua Gold Resources Inc. (“JSHG” or “Joshua”) (OTC Pink: JSHG) a mineral exploration company headquartered in Canada, is pleased to announce that it has acquired a one hundred percent (
The Benoit West property is approximately 48 miles (77 kilometers) southeast of Timmins, ON. It consists of five claims, about 210 acres, where previous prospectors have conducted sampling (see picture below). Geologically, the area around Benoit Township lies between the Larder Lake and Destor-Porcupine Faults. This area of Abitibi volcanics extends from Timmins, Ontario to Chibougamau, Quebec. The area was mapped by H. L. Lovell in 1965 and appears to be composed of metavolcanic rocks that are tholeiitic in appearance and part of the Knojevis Group.
Previous prospectors have discovered gold values over 24 grams per ton on the Benoit West property.
Joshua acquired a one hundred percent interest in the Joe-Anne Property through issuance to the vendors of two million, five hundred thousand (2,500,000) JSHG common shares. The vendors retained a two percent (
Ben Fuschino comments, "We really like this area and will get our geological team to immediately begin applying for permits so we can actively explore this acquisition".
Joshua Gold Resources Inc. (OTC Pink: JSHG) a publicly traded American gold and mineral exploration company headquartered in Canada, home to the three-billion-year-old Canadian Shield which contains a wealth of minerals from nickel, gold, copper, cobalt, niobium to chromium. Please visit http://www.joshuagoldresources.com/ for more information.
Safe Harbor Statement: This press release contains forward-looking statements of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act. Forward-looking statements are not a guarantee of future performance and results, and will not be accurate indications of the times, or by, which such performance will be achieved.
Investor Relations Contact:
Peter Nicosia
President, Bull In Advantage, LLC
Phone: (585) 703-6565
Email: bullinadvantage@aol.com
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FAQ
What is the Benoit West property acquired by JSHG?
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