1911 Gold Receives Exploration Grant from Manitoba Mineral Development Fund
TORONTO, Sept. 1, 2021 /CNW/ - 1911 Gold Corporation ("1911 Gold" or the "Company") (TSXV: AUMB) (OTCQX: AUMBF) is pleased to announce that the Company has been approved for a $300,000 grant from the Manitoba Mineral Development Fund ("MMDF") to support the 2021 field exploration program and advance its 100% owned Rice Lake gold exploration properties in Manitoba.
Proceeds from this grant will go directly to fund the ongoing 2021 field exploration program, which commenced in May with an overall budget of $1.2 million. This program continues to advance six project areas towards discovery, and involves geological mapping, prospecting, outcrop stripping, surficial geochemistry and geophysical surveys, conducted by the Company's Manitoba-based exploration team, comprising 18 geologists and summer student assistants from local universities. To date in 2021, approximately 5,000 samples have been collected for geochemical and assay analysis. New data from this program will be combined with historical data and the Company's new high-resolution drone magnetic survey data to define targets for the 2021–2022 exploration drilling program commencing in the fall.
The MMDF was launched by the Government of Manitoba in August 2020 with the specific goal of jump-starting mineral and economic development initiatives throughout the province. The MMDF is administered through the Manitoba Chambers of Commerce and aims to support new economic development opportunities that capitalize on existing assets and infrastructure across Manitoba, such as the Company's True North mine, mill and tailings facilities located at Bissett, Manitoba.
Ron Clayton, President and CEO, stated, "We are pleased to receive this support from the Manitoba Mineral Development Fund as we advance our Rice Lake projects towards discovery. Gold mining and milling operations have historically provided employment and economic development opportunities in the Bissett region and, with the support of the MMDF and the Government of Manitoba, 1911 Gold will continue to work towards bringing additional growth and prosperity to surrounding communities."
About 1911 Gold Corporation
1911 Gold is a junior explorer that holds a highly prospective, consolidated land package totalling more than 58,000 hectares within and adjacent to the Archean Rice Lake greenstone belt in Manitoba, and also owns the True North mine and mill complex at Bissett, Manitoba, where it is reprocessing historic tailings on a seasonal basis. 1911 Gold believes its land package is a prime exploration opportunity, with potential to develop a mining district centred on the True North complex. The Company also owns the Apex project near Snow Lake, Manitoba and the Tully and Denton-Keefer projects near Timmins, Ontario, and intends to focus on both organic growth opportunities and accretive acquisition opportunities in North America.
1911 Gold's True North complex and exploration land package are located within the traditional territory of the Hollow Water First Nation, signatory to Treaty No. 5 (1875-76). 1911 Gold looks forward to maintaining open, co-operative and respectful communication with the Hollow Water First Nation, and all local stakeholders, in order to build mutually beneficial working relationships.
ON BEHALF OF THE BOARD OF DIRECTORS
Ron Clayton
President and CEO
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
This news release may contain forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
All forward-looking statements reflect the Company's beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company's forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements.
Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. All statements that address expectations or projections about the future, including, but not limited to, statements about exploration plans and the timing and results thereof, are forward-looking statements. Although 1911 Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
All forward-looking statements contained in this news release are given as of the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE 1911 Gold Corporation
Shaun Heinrichs, Chief Financial Officer, (604) 674-1293, [email protected]
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