VANCOUVER, Dec. 20, 2018 /CNW/ - Warrior Gold Inc. (TSX-V
- WAR) ("Warrior Gold" or the "Company") is pleased
to announce the acquisition of a 24-claim package (304.04 ha)
adjacent to the northeast portion of the Company's Goodfish-Kirana
Property, together with three contiguous new claims (50.64 ha)
staked by the Company. These two strategic additions bring the
Company's land package in the Kirkland Lake Gold Camp to 3704 ha.
(Figure 1 - pink shaded areas).
The 24-claim block was acquired from Michael Sutton, P.Geo., Chief Geologist and
Director of Galaway Metals and Ontario Prospector of the Year in
2006. The claims were acquired in exchange for a 1.5% Net Smelter
Royalty (NSR). Warrior has the right to buy-back 1% of the NSR for
$1M.
The three new claims were staked effective December 15, 2018 through the Ontario Government
Mining Lands Administrative System (MLAS).
Danièle Spethmann, P.Geo., President and CEO of Warrior Gold
stated: "We are pleased to be adding prospective new ground that
includes the two major gold bearing regional deformation zones (DZ)
- the Victoria DZ and the Kirana DZ as well as numerous
underexplored geophysical targets and gold anomalies. Geologically
the Victoria DZ is at the contact of the Kinojevis and the Blake
River Groups which is the same structural/stratigraphic setting as
the +2 Moz Au Upper Beaver Deposit of Agnico Eagle Mines Ltd, less
than 15 km to the southeast of the Company's property boundary. The
Company will incorporate these newly acquired claims into its 2019
exploration program based on reviews of historical records and
data".
About Warrior Gold Inc.
Warrior Gold is a TSX-V listed company that owns the
Goodfish-Kirana Property located five kilometers from the town
of Kirkland Lake, Ontario.
The Property is located in the historic Kirkland Lake Gold Camp
which is situated in the prolific Abitibi Greenstone Belt;
recognized as one of the world's highest-grade greenstone belts
with over 200 million ounces of gold produced to date.
The Goodfish-Kirana Property is 11.5 km long by 3 km wide
(approximately 34.5 km2) and contains three major
structural trends: the East West trending Kirana Deformation
Zone; the Northeast trending Goodfish Deformation Zone and the
Victoria Creek DZ. The Properties contain numerous historical gold
showings, including 18 historical pits and shafts. The Company is
exploring this largely underexplored land package with modern
exploration technology and regional geological expertise.
Neither the 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.
Forward-Looking Statements: This press release
contains forward-looking statements. Forward-looking statements are
frequently characterized by words such as "plan", "expect",
"project", "intend", "believe", "anticipate", "estimate", "may",
"will", "would", "potential", "proposed" and other similar words,
or statements that certain events or conditions "may" or "will"
occur. The forward-looking statements are based on certain key
expectations and assumptions made by the Company. Although Warrior
Gold believes that the expectations and assumptions on which the
forward-looking statements are based are reasonable, undue reliance
should not be placed on the forward-looking statements because
Warrior Gold can give no assurance that they will prove to be
correct. Since forward-looking statements address future events and
conditions, by their very nature they involve inherent risks and
uncertainties. Actual results could differ materially from those
currently anticipated due to a number of factors and risks. In
addition to other risks that may affect the forward-looking
statements in this press release are those set out in the Company's
management discussion and analysis of the financial condition and
results of operations for the year ended March 31, 2018 and the second quarter ended
September 30, 2018, which are available on the Company's SEDAR
profile at www.sedar.com. The forward-looking statements contained
in this press release are made as of the date hereof and Warrior
Gold undertakes no obligation to update publicly or revise any
forward-looking statements or information, whether as a result of
new information, future events or otherwise, unless so required by
applicable securities laws.
SOURCE Warrior Gold Inc.