Eskay Mining Corp. press release
Central Timmins Exploration Corp. Announces Signing of Drilling Contract and Near-Term Work Program
TSXV - TSX Venture Exchange · Gold · Silver · Copper · Lead · Zinc · Bismuth · Canada
Canada NewsWire
TORONTO, Oct. 23, 2018
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TORONTO, Oct. 23, 2018/CNW/ - Central Timmins Exploration Corp.("CTEC" or the "Company") (TSXV: CTEC) is pleased to announce that it has engaged a drilling contractor in preparation for the Company's initial 5,000-meter diamond drill program and provides an outline of its near-term exploration plan on its Timmins Project in Ontario, Canada.
CTEC owns a 100% interest in 89 patented claims and 433 staked claims in the main Timminscamp. This land was assembled over the past 15 years prior to CTEC consolidating ownership. CTEC has broken down the Timmins Project into four distinct township projects: Deloroand Ogdenare located on the south side of the Porcupine Destor fault Zone (PDFZ); and Mountjoyand the 4 Corners Project on the north side of the PDFZ (covering areas in Godfrey, Robb, Jamieson and Turnbull townships).
Highlights
Drill Contract
(1) Historic drill intercepts and mining data from the Dictore Property were sourced from historic files and assay logs - Assessment File 444 of Deloro Township; Timmins MNDM Office. QA/QC procedures and processes have not been audited by CTEC. Historical results are not necessarily indicative of future results. CTEC will twin the 1939 Dictore DDH #5 to confirm the accuracy of the 1939 assaying.
MMI Sampling in 2012 and 2018 MOU's and Permitting
CTEC CEO, Charles Gryba, commented, "I am excited at the prospect of starting our exploration program on our 4 projects within the 77 square kilometer Timmins Property package. Twinning the Dictore DDH #5 hole is very exciting as the historically defined gold mineralization started some 80mbelow surface.
The next 9 drill targets are a combination of a minimum of 3 layers of positive exploration data. For example a MMI geochem anomaly matched to airborne magnetic or E/M anomaly plus E/M, IP or Magnetic ground geophysical data to confirm the drill setup location.
CTEC held an open tender process for the 5,000mdrilling contract for its Timmins Properties in October 2018. The NQ diameter diamond drill holes are expected to range between 300mand 500min length. RPA in the NI 43 101 Report expected the program to be completed within 6 months with assays reported on a regular basis."
Charles Gryba, President and CEO, P. Eng. is the Qualified Person that prepared the content of the news release in compliance with National Instrument 43-101. Unless otherwise stated, the information set out in this press release relating to the Timmins Project is derived from, and in some instances is an extract from, the Technical Report. The Technical Report was prepared for the Corporation by Paul Chamois, M.Sc.(A), P.Geo. of RPA, who reviewed and approved the scientific and technical information contained in the Company's prospectus and is a "qualified person" and "independent" of the Corporation within the meanings of National Instrument 43-101 – Standards for Disclosure for Mineral Projects ("NI 43-101") and based on the assumptions, qualifications and procedures which are set out in the Technical Report and Prospectus which is available through the Company's website and at www.sedar.com.
About Central Timmins Exploration Corp.
CTEC is an early-stage Canadian-based junior exploration company with property exclusively within the City limits of Timminsin the Porcupine Mining District in the northeastern region of Ontario. The Company's assets are prospective for gold as well as a suite of base metals. See the company website at www.centraltimmins.com.
Forward Looking Information
This press release contains "forward-looking information" within the meaning of applicable securities laws that is intended to be covered by the safe harbours created by those laws. "Forward-looking information" includes statements that use forward-looking terminology such as "may", "will", "expect", "anticipate", "believe", "continue", "potential" or the negative thereof or other variations thereof or comparable terminology. Such forward-looking information includes, without limitation, the Corporation's expectations, strategies and plans for the Timmins Project, including the Corporation's planned exploration activities.
Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made. Furthermore, such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Corporation to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking information. See "Risk Factors" in the Corporation's final prospectus dated October 4, 2018filed on SEDAR at www.sedar.comfor a discussion of these risks.
The Corporation cautions that there can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, investors should not place undue reliance on forward-looking information.
Except as required by law, the Corporation does not assume any obligation to release publicly any revisions to forward-looking information contained in this press release to reflect events or circumstances after the date hereof.
Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Central Timmins Exploration Corp
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Central Timmins Exploration Corp., Charles Gryba, President, CEO & Director, Charles.Gryba@bell.net, Tel: 416-801-6366; Elaine Einarson, Investor Relations, Elaine@centraltimmins.com, Tel: 604-614-8469Copyright CNW Group 2018