KELOWNA, BRITISH COLUMBIA–(Marketwired – June 9, 2016) – Big Wind Capital Corp. (the “Company”) (CSE:BWC) is pleased to announce that it has entered into a claim purchase agreement to acquire a 100% interest in a large claim package prospective for gold in the La Ronge Gold Belt and the Flin Flon Greenstone Belt region of northern Saskatchewan (the “Project”). The Project is comprised of 39 mineral claims in 7 project areas with a total land package of 31,731 hectares.
The Company will pay $35,000 in cash and issue 5,000,000 common shares to Mr. Ross McElroy to acquire the Project. Mr. McElroy will be invited to join the board of directors of the Company.
The Company intends to undertake a preliminary exploration program beginning in the summer of 2016 and anticipates a preliminary work program budget of approximately $650,000.
Gold deposits in Saskatachewan are found mainly in the Early Proterozoic volcanoplutonic regimes of the La Ronge and Flin Flon domains. Six of the project areas are located within the La Ronge Gold Belt and a 7th project is located in the Flin Flon Greenstone Belt located to the south-east (see Table 1 and Figure 1).
La Ronge Gold Belt Properties
The La Ronge Gold Belt hosts 13 known gold deposits including 5 former producing gold mines. Gold mineralization in the La Ronge Gold Belt is mostly structurally controlled, quartz-vein type and characteristically high-grade, often with average grades >10 g/t Au. Highlights of the 6 properties that are located within the La Ronge Gold Belt are as follows:
Flin Flon Greenstone Belt Property
The Flin Flon Greenstone Belt is located approximately 120km to the south-east of the La Ronge Gold Belt. This mining district has been host to 25 operating mines since 1916. Most of the mines are copper-zinc, although at least 3 mines produced principally gold and silver.
Table 1: Saskatchewan Gold Properties
|Geological Area||Property||Number of
|La Ronge Gold Belt||Hilda Pond||1||1,992.75|
|Flin Flon Greenstone Belt||Standing Lake||1||1,272.97|
To view Figure 1: Saskatchewan Gold Properties, please visit the following link: http://media3.marketwire.com/docs/bwc0609fig1.pdf.
ON BEHALF OF THE BOARD
Dev Randhawa, Chairman & CEO
This press release contains “forward-looking information” that is based on Big Wind Capital Corp’s current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, statements with respect to Big Wind’s development plans. The words “will”, “anticipated”, “plans” or other similar words and phrases are intended to identify forward-looking information.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Big Wind’s actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward- looking information. Such factors include, but are not limited to: uncertainties related exploration and development; the ability to raise sufficient capital to fund exploration and development; changes in economic conditions or financial markets; increases in input costs; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labour relations matters. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. The Company disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.