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GTA Gta Resources And Mining Inc.

0.015
0.00 (0.00%)
31 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Gta Resources And Mining Inc. TSXV:GTA TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.015 0.015 0.02 0 01:00:00

GTA Resources and Mining Inc.: Silver Results Enhance New Gold Discovery on Squid East Property in the White Gold District, Y...

12/09/2013 1:00pm

Marketwired Canada


GTA Resources and Mining Inc. (TSX VENTURE:GTA) is pleased to announce that
final assay results for silver have been received for trench samples from its
Squid East Project in the Yukon. A previous release (see press release dated 06
August 2013) had outlined the gold results from the "Exploits Zone" trench,
however the silver results were delayed. The recent results show the new zone to
have significant silver mineralization with a final composite across the zone of
1.96 grammes per tonne (g/t) Au and 160.5 g/t Ag over 22 meters. This trench
also contained a higher grade zone of 6.39 g/t Au and 513.5 g/t Ag over 4.0
meters.


The trenching program focused on a strong northwest trending gold plus
pathfinder element soil anomaly. Bedrock mapped in the trenches consisted of
heavily bleached and weathered broken rock which is considered to be in place
and is typical for the White Gold district. The host rock to the gold
mineralization consists of sericite schist with local quartz veining, and local
hematite alteration. A follow-up drill program consisting of 428 meters in four
holes has recently been completed, however assays are pending.


All chip samples were sent to Acme Analytical Laboratories Ltd located in
Vancouver, B.C. The precious metals assays were analyzed utilizing a standard
fire assay with an atomic absorption finish and lead assays were fire assay with
ICP finish.


GTA can earn an initial 51% interest in the Squid East property from Metals
Creek Resources Corp. ("MEK") and can increase its interest to 70% as previously
announced in a press release dated 12 January 2013. MEK will be the operator
during the initial earn-in period. 


The Squid East property was initially staked in February, 2011 and is located
proximal to the Matson Creek placer gold operations, approximately 90km
southwest of Dawson City. A four wheel drive access road and airstrip service
the placer camp and the current field work availed of the placer camp airstrip,
accommodations and equipment to help carry out the program. A six km access
trail was completed from the Matson Creek four wheel drive road to the target
area, making access more cost effective.


Robert Duess, P. Geo, VP Exploration for GTA and a qualified person as defined
in National Instrument 43-101, is responsible for this release, and supervised
the preparation of the information forming the basis for this release.


About GTA

GTA is a well funded publicly traded mineral exploration company. It is led by
an experienced and successful management team and is focused on gold exploration
in Canada. GTA currently has three exploration focused projects in its
portfolio. Its flagship project, the Northshore Property, located near
Schreiber, Ontario, is subject to an option agreement with Balmoral Resources
Ltd. (TSX VENTURE:BAR) whereby GTA can earn up to a 70% interest. Secondly, GTA
recently completed an option agreement with Metals Creek Resources Corp. ("MEK")
to earn up to a 70% interest in the Squid East Property in the White Gold
District, Yukon. The third project, the 100% owned Auden Property, is located
near Hearst, Ontario adjacent to Zenyatta Ventures Ltd., and consists of 1718
claim units covering virtually an entire greenstone belt and hosting a number of
graphite, gold, base metal and PGE targets.


GTA has 25,731,855 shares outstanding of which insiders control approximately
30% of the outstanding shares. The Company's shares trade on the TSX Venture
Exchange under the symbol "GTA."


On behalf of the board of directors

GTA Resources and Mining Inc.

Wayne Reid, President and CEO

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 press release. 


This press release contains forward-looking statements and forward-looking
information (collectively, "forward looking statements") within the meaning of
applicable Canadian and United States securities laws. All statements, other
than statements of historical fact, included herein, including statements
regarding the anticipated content, commencement, duration and cost of
exploration programs, anticipated exploration program results, the discovery and
delineation of mineral deposits/resources/reserves, the timing of the receipt of
assay results, and business and financing plans and trends, are forward-looking
statements. Forward-looking statements are typically identified by words such
as: believe, expect, anticipate, intend, estimate, postulate and similar
expressions or are those which, by their nature, refer to future events.
Although the Company believes that such statements are reasonable, there can be
no assurance that such statements will prove to be accurate, and actual results
and future events could differ materially from those anticipated in such
statements. The Company cautions investors that any forward-looking statements
by the Company are not guarantees of future performance, and that actual results
may differ materially from those in forward-looking statements. Important
factors that could cause actual events and results to differ materially from the
Company's expectations include those related to weather, equipment and staff
availability; performance of third parties; risks related to the exploration
stage of the Company's projects; market fluctuations in prices for securities of
exploration stage companies and in commodity prices; and uncertainties about the
availability of additional financing; risks related to the Company's ability to
identify one or more economic deposits on the properties, and variations in the
nature, quality and quantity of any mineral deposits that may be located on the
properties; risks related to the Company's ability to obtain any necessary
permits, consents or authorizations required for its activities on the
properties; and risks related to the Company's ability to produce minerals from
the properties successfully or profitably. Trading in the securities of the
Company should be considered highly speculative. All of the Company's public
disclosure filings may be accessed via www.sedar.com and readers are urged to
review these materials, including the latest technical reports filed with
respect to the Company's mineral properties.


This press release is not, and is not to be construed in any way as, an offer to
buy or sell securities in the United States.


FOR FURTHER INFORMATION PLEASE CONTACT: 
GTA Resources and Mining Inc.
Wayne Reid
President and CEO
709 699 1733
www.gtaresources.com

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