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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 and Constance Lake First Nation Sign an Exploration Agreement to Explore the Auden Graphite Property

30/10/2013 12:00pm

Marketwired Canada


GTA Resources and Mining Inc. (TSX VENTURE:GTA) is pleased to report that it has
signed an exploration agreement with Constance Lake First Nation (CLFN) for the
continued exploration on GTA's Auden Property in Northern Ontario. The Auden
Property is located within CLFN traditional territory and the community of
Constance Lake is located proximal to the 280 square kilometer claim block. 


The exploration agreement allows for compensation to CLFN for cultural and
environmental impacts and includes the issuance of 100,000 GTA common shares on
signing and the issuance of 200,000 common share purchase warrants on the first
to the third anniversary dates (subject to regulatory approval). The agreement
also allows for local work opportunities and business ventures, and for
continued consultation on land use issues. 


Commented Constance Lake First Nation, "We are pleased to move forward with GTA
Resources on developing the Auden Property, which is located in the Heartland of
Constance Lake First Nation's Ancestral Land. GTA has shown a commitment to work
with our community while demonstrating respect of our people, lands and way of
life. We expect this to become the start of a new and much more mutually
beneficial relationship with GTA in the coming months."


The 100% owned Auden Property is located adjacent to Zenyatta Ventures Ltd.'s
Albany graphite project in Northern Ontario. GTA is the largest land holder in
this emerging graphite district with a total of 1748 contiguous claim units
(approximately 28,000 hectares). GTA has owned the Auden Property since 2010,
prior to the Zenyatta graphite discovery. The Property was originally acquired
for its gold, base metal and PGM potential; however, other than the airborne
geophysics described below, there has been no field work carried out since
acquisition.  


Two airborne surveys have been flown on the Auden Property. GTA's interpretation
of the 2008 central claim block (EM and Magnetic) survey has identified 12
priority targets for follow-up. All of these targets are highly conductive and
could be due to the presence of graphite (graphite has highly conductive
properties). None of these conductive targets have been previously drill tested.
In 2013 GTA completed airborne geophysics (electro-magnetics and magnetics) on
the remaining Auden claims (east and west blocks) and additional conductive zone
targets have been identified for follow-up (GTA press release of October 2,
2013). This follow-up is scheduled to begin in early November and drill testing
of priority targets to be initiated before year-end. 


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 with its primary focus on gold
exploration in Canada. GTA currently has three exploration projects in its
portfolio. Its flagship project, the Northshore Property, located near
Schreiber, Ontario, is subject to an option agreement with Balmoral Resources
Ltd. ("TSXV: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 and consists of 1748 claim units covering virtually an
entire greenstone belt and hosting a number of graphite, gold, base metal and
PGE targets.


GTA has 26,731,855 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
gtaresources.com

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