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SYS

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Sona Enters Into an Option Agreement to Acquire 100% of the Mineral Creek Gold Property

16/07/2013 2:20am

Marketwired Canada


NOT FOR DISTRIBUTION TO U.S. WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Sona Resources Corp. ("the Company" or "Sona") (TSX VENTURE:SYS) (FRANKFURT:QS7)
is pleased to announce that it has entered into a mineral property option
agreement (the "Option Agreement") with Lu'An (Canada) Capital & Energy
Investment Inc. ("LCE"). Pursuant to the Option Agreement, Sona has been granted
the option (the "Option") to acquire a 100% interest (subject to a 5% net
profits interest royalty) in 49 mining claims, encompassing a total of 10,273
hectares, known as the Mineral Creek Gold Property (the "Property") located near
Port Alberni, British Columbia.


To exercise the Option the Company must: (i) issue 500,000 common shares in Sona
to LCE on execution of the Option Agreement (the "Effective Date"); (ii) deliver
an independent NI 43-101 compliant technical report on the Property on or before
the first anniversary of the Effective Date; (iii) complete a surface trenching
program on the Property for a combined minimum total expenditure of $100,000 on
or before the first anniversary of the Effective Date; (iv) complete a surface
trenching program on the Property for a combined minimum total expenditure of
$200,000 on or before the second anniversary of the Effective Date; (v) complete
5,000 meters of diamond core drilling on the Property for a combined minimum
total expenditure of $750,000 on or before the fourth anniversary of the
Effective Date; and (vi) complete an additional 5,000 meters of diamond core
drilling on the Property for a combined minimum total expenditure of $750,000 on
or before the sixth anniversary of the Effective Date.


Pursuant to the Option Agreement, if the Company delivers an NI 43-101 compliant
technical report on the Property to LCE that outlines an inferred mineral
resource of 250,000 ounces of gold at a minimum average grade of eight grams of
gold per tonne of ore, then the Issuer will, subject to Exchange approval and
shareholder approval, if required, issue to LCE a further 1,500,000 common
shares in the capital of Sona. Lastly, if the Company commences commercial
production on the Property then the Company will, subject to Exchange approval
and shareholder approval, if required, issue to LCE a further 2,000,000 common
shares in the capital of Sona.


A finder's fee of $8,800 will be paid by the Company to Canada Asia Business
Network ("CABN") in connection with the Option Agreement. In addition, 40,000
finder's warrants ("Finder's Warrants") will be issued to CABN in connection
with the Option Agreement, with each Finder's Warrant entitling CABN to acquire
one common share in Sona at a price of $0.30 for a period of 24 months following
the issuance of the Finder's Warrants. 


About Mineral Creek 

The Mineral Creek Gold Property is located on Vancouver Island, British
Columbia, approximately 10 kilometres east of the town of Port Alberni. It is
comprised of 49 mineral claims totalling 10,273 hectares, and the predominant
geological structure is the north-south-trending Mineral Creek fault zone, which
hosts the Mineral Creek gold zone. Several narrow quartz vein that splay off the
Mineral Creek fault have returned bonanza-grade gold assay values. 


The property has a long history of exploration and high-grade gold mining,
beginning with placer mining of China Creek in the 1860s. In the 1890s and again
in the 1930s, a modest amount of high-grade gold was mined from quartz veins
east of the Mineral Creek fault via seven original adits. Exploration carried
out on the claims between 1986 and 1990 included 300 diamond drill holes
totalling approximately 50,000 metres. In 1988, an exploration tunnel four
metres wide by three metres high was driven 1.8 kilometres along the McLaughlin
Ridge on the property. The tunnel was designed to allow for further evaluation
of the Mineral Creek gold zone, and as an underground drill platform along the
hanging wall of the Mineral Creek Fault. 


Between 1993 and 1995, test mining of 1,800 tonnes on the two-metre-wide 900
Zone along the fault returned an average assay grade of 51.1g Au/t. In addition,
10 samples from surface muck piles were analyzed, and returned assay values that
averaged 65.6g Au/t and 19.4g Ag/t. 


In 2007, approximately 200 tonnes of a planned 5,000-tonne bulk sample were
extracted from the Lower Linda Vein. Face chip samples taken over widths of 0.6
to 1.5 metres along a 10.5-metre strike length returned assay values between
29.5g Au/t and 1,795.0g Au/t. 


From 2005 to 2010, numerous exploration activities were carried out on the
property, including 175 diamond drill holes totalling 24,400 metres; 360 line
kilometres of airborne geophysical surveying; and the compilation of a GIS
database. This recent six-year diamond drilling period targeted five high-grade
gold zones that occur as splays off the main north-south-trending Mineral Creek
Fault. From these drill holes, bonanza gold grades were intersected from the
Ember Vein (253.0g Au/t over 1.5 metres true width), the HW-1 Vein (137.5g Au/t
over 0.3 metres true width), the 1050 Zone (74.5g Au/t over 0.9 metres true
width) and the Linda Zone (292.0g Au/t over 0.26 metres true width).


Previously reported resources on the property were compiled from a series of
historical mineral inventory estimates made between 1988 and 1990, and thus are
not considered NI 43-101 compliant. As an important first step, Sona will
compile and review all of the historical exploration data and commission an
independent NI 43-101 report. 


About Sona Resources Corp.

Based in Vancouver, Sona is a junior gold resource company with a focus on
bringing its Blackdome-Elizabeth Gold Project into full commercial production.
Since its inception in 1990, Sona has engaged in a wide range of mineral
exploration activities in Canada, Mexico and the United States, as well as
small-scale gold production. 


Sona owns a 100 percent interest in the former Blackdome Gold Mine in
south-central British Columbia, 250 kilometres north of Vancouver; and the
Elizabeth Gold Deposit Property, 30 kilometres south of Blackdome. At Blackdome,
the mineral resources are estimated to be 144,500 tonnes grading 11.29g Au/t
containing 52,500 oz. gold, indicated; and 90,600 tonnes grading 8.79g Au/t
containing 25,900 oz. gold inferred (news release dated May 4, 2010). At
Elizabeth, Sona has outlined an inferred gold resource of 523,000 tonnes grading
12.26g Au/t containing 206,100 oz. gold (news release dated June 8, 2009). 


Mineral resources that are not mineral reserves do not have demonstrated
economic viability. 


Sona aims to bring the fully permitted Blackdome mill back into production at an
initial rate of 200 tonnes per day, with feed from the formerly producing
Blackdome Gold Mine 


Sona also holds a 100 percent interest in the Montgolfier Project in Quebec, 40
kilometres east of the multimillion-ounce Casa Berardi Mine gold deposit. 


On behalf of the Board, 

Nick Ferris, Executive Chairman

This news release contains certain forward-looking statements, and such
statements involve risks and uncertainties. The results or events predicted may
differ materially from actual results or events. Any forward-looking statement
speaks only as of the date of this news release. Except as may be required by
applicable securities laws, the Company disclaims any intent or obligation to
update any forward-looking statement, whether as a result of new information,
future events or results, or any other occurrence.


This news release does not constitute an offer to sell or a solicitation of an
offer to sell any of the securities in the United States. The securities have
not been and will not be registered under the United States Securities Act of
1933, as amended (the "U.S. Securities Act") or any state securities laws and
may not be offered or sold within the United States or to U.S. persons unless
registered under the U.S. Securities Act and applicable state securities laws or
an exemption from such registration is available.


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Sona Resources Corp.
Suite 320, 145 17th Street
North Vancouver, BC, Canada  V7M 3G4
+1 (604) 684-6677
+1 (604) 684-6678 (FAX)
info@sonaresources.com
www.sonaresources.com


Marston Webb International
Victor Webb
Media Inquiries
+1 (212) 684-6601
+1 (212) 725-4709 (FAX)
marwebint@cs.com

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