Aldever Acquires Additional Ground in in Urban Barry Mining Camp, Quebec
ALDEVER RESOURCES INC. 2200 HSBC Building – 885 West Georgia St, Vancouver, BC, V6C 3E8 www.aldever.com
ALDEVER ACQUIRES ADDITIONAL GROUND IN IN URBAN BARRY MINING CAMP, QUEBEC
December 1, 2015
Aldever Resources Inc. (ALD—TSXV) (ALDVF—OTCQB) (17G1—Frankfurt) is pleased to announce that it has entered into an agreement with an arms’-length vendor to acquire a 100% interest in the Lac Chanceux Gold Claims, which will form part of the Company’s Urban Barry Gold Project, (the “UB Project”), located approximately 200 kilometers northeast of Val D’Or, Quebec. The Lac Chanceux Gold Claims are 1.6km south of the Company’s UB Project and cover an area of 169ha, within Oban Mining’s Urban Barry project.
The Lac Chanceux Gold Claims cover and area of 169ha, including the northern extent of Lac Chanceux. The claims have excellent discovery potential and are situated in the same geologic formation as Bonterra’s Gladiator discovery, approximately 13km to the west. While the Lac Chanceux Gold claims have not been tested by diamond drilling, they are only 200 meters west of the Croix 3 deposit (which is anomalous with copper and silver) and 200 meters south of the Lac Chanceux Nord deposit (where drilling encountered anomalous intervals of gold and silver), the latter of which is controlled by Oban Mining.
With this acquisition Aldever now controls 1297ha in this prolific region, approximately 18 kilometers east of, and within the same geological district as, Oban Mining’s Windfall Lake Deposit, which has a an estimated mineral resource*of 748,000 ounces of gold at 8.42 g/t gold in the indicated category, and 860,000 ounces of gold at 7.62 g/t gold in the inferred category.
- Source: Oban Mining Corporation website - SRK (Canada) November 2014 Technical Report. These estimates of gold resources
are sourced from publicly available materials and are not located on the Urban Barry Property. Aldever has not undertaken any independent investigation of the production/resource estimates, nor has it independently analyzed the publicly available results.
The UB Project is situated within the Urban-Barry Greenstone Belt lies within the eastern portion of the Abitibi Subprovince which has an east-west extent of approximately 135 kilometres with ranges from 4 to 20 kilometres in width along its strike extent,. Lithological units within this terrane include sequences of basalt flows withintercalated felsic rhyolities to more mafic volcaniclastic rocks that have been deformed and metamorphosed to the greenschist facies. The volcaniclastic sequence has been intruded by syn-volcanic to late (post mineralization) intrusions. Dominant structural fabrics trend to the northeast, with variable dips between 30° to 85° to the southeast. The principal exploration target at the UB Project is a seven kilometer strike length of regional scale faulting of the Abitibi Greenstone Belt which lies within the UB Project bounds.
Aldever can earn a 100% interest in the Lac Chanceux Gold Claims by issuing to the vendor 300,000 common shares within 5 days of TSX Venture Exchange Approval, paying $50,000 in 18 months and incurring $200,000 in qualifying exploration expenditures over a five year period. A 1% GORR (Gross Overriding Royalty) has been granted to the vendor, of which 0.5% may be purchased by Aldever for $1,000,000. This transaction is subject to TSX Venture Exchange Approval.
President Clive Massey commented, “We are pleased with this cost-effective acquisition, which lies between two significant mineralized zones, in what is arguably the most exciting new mineral district in Quebec.”
The technical contents of this news release have been prepared under the supervision of Dr. Peter Born, P. Geo. Dr. Born is a Qualified Person as defined in NI 43-101, and has approved this news release.
For further information, please contact:
Clive Massey, President Aldever Resources Inc., Phone: (604) 644-6794
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. Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, “forward‐looking statements”. Forward‐looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forward‐looking statements, including without limitation those relating to the Company’s future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward‐looking statements.