TORONTO, Sept. 1, 2021 /CNW/ - 1911
Gold Corporation ("1911 Gold" or the
"Company") (TSXV: AUMB) (OTCQX: AUMBF) is pleased to announce
that the Company has been approved for a $300,000 grant from the Manitoba Mineral
Development Fund ("MMDF") to support the 2021 field exploration
program and advance its 100% owned Rice Lake gold exploration
properties in Manitoba.
Proceeds from this grant will go directly to fund the ongoing
2021 field exploration program, which commenced in May with an
overall budget of $1.2 million. This
program continues to advance six project areas towards discovery,
and involves geological mapping, prospecting, outcrop stripping,
surficial geochemistry and geophysical surveys, conducted by the
Company's Manitoba-based
exploration team, comprising 18 geologists and summer student
assistants from local universities. To date in 2021, approximately
5,000 samples have been collected for geochemical and assay
analysis. New data from this program will be combined with
historical data and the Company's new high-resolution drone
magnetic survey data to define targets for the 2021–2022
exploration drilling program commencing in the fall.
The MMDF was launched by the Government of Manitoba in August
2020 with the specific goal of jump-starting mineral and
economic development initiatives throughout the province. The MMDF
is administered through the Manitoba Chambers of Commerce and aims
to support new economic development opportunities that capitalize
on existing assets and infrastructure across Manitoba, such as the Company's True North
mine, mill and tailings facilities located at Bissett, Manitoba.
Ron Clayton, President and CEO,
stated, "We are pleased to receive this support from the Manitoba
Mineral Development Fund as we advance our Rice Lake projects
towards discovery. Gold mining and milling operations have
historically provided employment and economic development
opportunities in the Bissett
region and, with the support of the MMDF and the Government of
Manitoba, 1911 Gold will continue
to work towards bringing additional growth and prosperity to
surrounding communities."
About 1911 Gold Corporation
1911 Gold is a junior explorer that holds a highly prospective,
consolidated land package totalling more than 58,000 hectares
within and adjacent to the Archean Rice Lake greenstone belt in
Manitoba, and also owns the True
North mine and mill complex at Bissett,
Manitoba, where it is reprocessing historic tailings on a
seasonal basis. 1911 Gold believes its land package is a prime
exploration opportunity, with potential to develop a mining
district centred on the True North complex. The Company also owns
the Apex project near Snow Lake,
Manitoba and the Tully and Denton-Keefer projects near
Timmins, Ontario, and intends to
focus on both organic growth opportunities and accretive
acquisition opportunities in North
America.
1911 Gold's True North complex and exploration land package are
located within the traditional territory of the Hollow Water First
Nation, signatory to Treaty No. 5 (1875-76). 1911 Gold looks
forward to maintaining open, co-operative and respectful
communication with the Hollow Water First Nation, and all local
stakeholders, in order to build mutually beneficial working
relationships.
ON BEHALF OF THE BOARD OF DIRECTORS
Ron Clayton
President and CEO
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
INFORMATION
This news release may contain forward-looking statements. Often,
but not always, forward-looking statements can be identified by the
use of words such as "plans", "expects" or "does not expect", "is
expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates" or "does not anticipate", or "believes",
or describes a "goal", or variation of such words and phrases or
state that certain actions, events or results "may", "could",
"would", "might" or "will" be taken, occur or be achieved.
All forward-looking statements reflect the Company's beliefs and
assumptions based on information available at the time the
statements were made. Actual results or events may differ from
those predicted in these forward-looking statements. All of the
Company's forward-looking statements are qualified by the
assumptions that are stated or inherent in such forward-looking
statements, including the assumptions listed below. Although the
Company believes that these assumptions are reasonable, this list
is not exhaustive of factors that may affect any of the
forward-looking statements.
Forward-looking statements involve known and unknown risks,
future events, conditions, uncertainties and other factors which
may cause the actual results, performance or achievements to be
materially different from any future results, prediction,
projection, forecast, performance or achievements expressed or
implied by the forward-looking statements. All statements that
address expectations or projections about the future, including,
but not limited to, statements about exploration plans and the
timing and results thereof, are forward-looking statements.
Although 1911 Gold has attempted to identify important factors that
could cause actual actions, events or results to differ materially
from those described in forward-looking statements, there may be
other factors that cause actions, events or results not to be as
anticipated, estimated or intended. There can be no assurance that
forward-looking statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements.
All forward-looking statements contained in this news release
are given as of the date hereof. The Company disclaims any
intention or obligation to update or revise any forward-looking
statements whether as a result of new information, future events or
otherwise, except in accordance with applicable securities
laws.
Neither 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.
SOURCE 1911 Gold Corporation