VVC Exploration Corporation ("
VVC" or the
"
Company") (TSX-V:VVC) is pleased to announce that
the Board of Directors (BOD) has given its approval for the start
of a Pilot Mine on the Gloria Zones of the Kaity Claim (Gloria,
Gloria Extension, Gloria East and Gloria NW) at its Northern Mexico
Copper Project.
The approval follows the receipt of both the
Environmental, and Land Use Change Permits, (NR July 11, 2019), the
release of an update for the Mineral Resources on the claim, of 9.6
million tonnes grading 0.28% Copper (or 60 million pounds of
Copper) Indicated and 14.4 million tonnes grading 0.28% Copper (or
90 million pounds of Copper) Inferred (NR March 21, 2019), and the
presentation of a mining, processing and reclamation plan by the
management team in Mexico, to the BOD.
Terrence Martell, Chairman of VVC Exploration,
said, "The decision by the Board represents a logical outcome of
our successful efforts to confirm the size of the resource and
receive the necessary regulatory approvals to begin work at the
site. Both represent years of hard work and patient effort on
the part of our management and Mexico-based operations team.
I would like to take this opportunity to thank VVC's management and
staff on behalf of the Board and shareholders for their hard work
and continued effort."
The plan envisions mining of the oxide copper
resources using an open pit extraction process, heap leach (solvent
extraction) processing of the ore, and recovery of the copper using
an on-site electrowinning facility, known as SX-EW
processing. The plant to be constructed will have an initial
capacity to process approximately 2,000 tonnes per day of
mineralized material, increasing to 4,000 tonnes per day,
approximately 12 months after start-up. Construction of the
facility is expected to take 6 to 9 months.
The technical and scientific content of this
press release has been reviewed and approved by Peter M. Dimmell,
BSc., P.Geo. (NL ON), a VVC Director and Qualified Person as
defined by National Instrument 43-101.
Note: The plans for the
project, including the economic case for it, have been prepared
internally by the management team. No independent National
Instrument 43-101 (NI 43-101) compatible Feasibility Study (FS),
Pre-Feasibility Study (PFS), Preliminary Economic Assessment (PEA)
or other economic assessment has been carried out on the project
and therefore there is no independent confirmation that the project
will be economic.
About VVC Exploration
Corporation
VVC is a Canadian exploration and mining company
focused on the exploration and development of copper and gold
deposits in Northern Mexico, specifically the Kaity Copper Project
located in in Chihuahua State. VVC has other projects in
Mexico and Canada, including gold and silver prospects, Cumeral and
La Tuna, in Sonora and Sinaloa States, Mexico and a grassroots
gold/VMS prospect in the Timmins area of Northern Ontario.
Visit our website at: http://vvcexpl.com.
On behalf of the Board of Directors
Michel J. Lafrance, Secretary-Treasurer
For further information, please contact: |
|
|
|
Patrick Fernet - (514) 631-2727 |
or |
|
Eugene Braigen - (646) 245-3409 |
E-mail: pfernet@vvcexploration.com |
|
|
E-mail: eugene@vvcexpl.com |
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
This news release contains "forward-looking
information" (within the meaning of applicable Canadian securities
laws) and "forward -looking statements" (within the meaning of the
U.S. Private Securities Litigation Reform Act of 1995). Such
statements or information are identified with words such as
"anticipate", "believe", "expect", "plan", "intend", "potential",
"estimate", "propose", "project", "outlook", "foresee" or similar
words suggesting future outcomes or statements regarding an
outlook. Such statements include, among others, "the start of
a Pilot Mine", "initial capacity to process approximately 2,000
tonnes per day, increasing to 4,000 tonnes per day of mineralized
material, in approximately 12 months", and "construction of the
facility is expected to take 6 to 9 months".
Such forward-looking information or statements
are based on a number of risks, uncertainties and assumptions which
may cause actual results or other expectations to differ materially
from those anticipated and which may prove to be incorrect.
Assumptions have been made regarding, among other things,
management's expectations regarding future development and growth,
plans for and completion of projects by Company's third-party
relationships, availability of capital, and the necessity to incur
capital and other expenditures. Actual results could differ
materially due to a number of factors, including, without
limitation, operational risks in the completion of Company's
anticipated projects, delays or changes in plans with respect to
the development of Company's anticipated projects by Company's
third party relationships, risks affecting the ability to develop
projects, risks inherent in operating in foreign jurisdictions, the
ability to attract key personnel, and the inability to raise
additional capital. No assurances can be given that the efforts by
Company will be successful. Additional assumptions and risks
are set out in detail in the Company's MD&A, available on SEDAR
at www.sedar.com.
Although the Company believes that the
expectations reflected in the forward-looking information or
statements are reasonable, prospective investors in the Company's
securities should not place undue reliance on forward-looking
statements because the Company can provide no assurance that such
expectations will prove to be correct. Forward-looking information
and statements contained in this news release are as of the date of
this news release and the Company assumes no obligation to update
or revise this forward-looking information and statements except as
required by law.
Investors are cautioned that notwithstanding the
expectations described herein, there can be no assurance that the
plans described herein will be completed as proposed. Trading
in the securities of VVC should be considered highly
speculative. All forward-looking statements contained in this
press release are expressly qualified in their entirety by this
cautionary statement.
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