IRW PRESS: Sassy Resources Corporation: Sassy Continues Drilling at Westmore Discovery Large-scale Newfoundland program to be stepped up
VANCOUVER, British Columbia, September 10, 2021 – Sassy Resources Corporation (CSE: SASY) (FWB: 4E7) (OTCQB: SSYRF) is pleased to announce an exploration update on Eskay Camp’s projects in northwestern British Columbia and to give in the gold belt of central Newfoundland.
– Diamond drilling continues on the Company’s Westmore discovery zone within the 146 square kilometer Foremore project area. This summer’s drill program is focused on the lower elevation mineralized quartz veins to the south and east of the Company’s 2020 discovery at Westmore and confirms a potentially significant expansion of the system. Surface sampling and in-depth geological mapping are being undertaken in support of the Westmore drilling program and ongoing interpretation of the mineralization controls within and around the Westmore intrusive rocks.
– As drilling continues at Westmore, teams are reviewing a number of VTEMTM and magnetic anomalies derived from initial data from the 1,687 km of high resolution, deep penetration airborne VTEMTM survey recently completed across much of the Foremore Property were, with ground-based measures. The final data from this measurement, which took place at the beginning of the 2021 field season, is still pending.
Exploration update on the gold belt in central Newfoundland
– Through its subsidiary, Gander Gold Corporation, Sassy contracted GroundTruth Exploration last spring to lead a large-scale, early stage exploration program in multiple project areas in the Central Newfoundland Gold Belt (CNGB) where Sassy has control of 9,032 concessions covering approximately 2,257 square kilometers .
– Approximately twelve thousand (12,000) soil and till samples have been collected to date from Gander North, Cape Ray II and Mount Peyton and submitted for analysis. The company is aligning the work with C-horizon / glacial till and will, as far as possible, follow up the first results with deeper and more densely placed samples to test the interface between soil and bedrock. Analysis results are still pending and will be published upon receipt and completion of the preliminary interpretation.
– An airborne VLF magnetic and geophysical survey is currently underway on the Company’s Newfoundland properties. LiDAR examinations and airborne, high-resolution ortho-images are currently also taking place in the properties.
– Sassy plans to deploy its Foremore prospecting team on several of its Gander Gold properties in Newfoundland once the Foremore fieldwork is complete. Prospecting will be conducted on outcrop areas of interest mapped as part of the Company’s early work.
– Sassy commissioned a NI 43-101 technical report on the area of the larger Gander North project, which was acquired from Vulcan Minerals under an option agreement. The report is prepared by Ronacher McKenzie Geoscience of Sudbury, Ontario. The report is pending delivery and will support Gander’s proposed application to be listed on the Canadian Stock Exchange. The Company made the necessary valuation work and expenditures to use Vulcan Gander North as a qualifying property for its proposed listing on the Canadian Stock Exchange.
Financing of Gander Gold
The Company announces the completion of a non-brokered private placement (the Private Placement) through its subsidiary Gander Gold Corporation (Gander). The private placement generated gross proceeds of $ 272,500 through the issuance of 1,090,000 special warrants (the Special Warrants) at a price of $ 0.25 per special warrant. The special warrants may be converted into Gander common stock on a date determined by the Gander Board of Directors but no more than two weeks after the date on which Gander becomes the reporting issuer. The 109 retail investors who participated in the private placement were limited to an allocation of 10,000 special warrants ($ 2,500) per participant in order to achieve the stock allocation required by Ganders’ proposed listing on the Canadian Stock Exchange.
No finder’s fees were paid in connection with the private placement. To date, Gander has raised $ 5,273,708 through the issuance of convertible special warrants.
Mark Scott, CEO of Sassy, commented: We are very excited about the exploration progress in British Columbia and Newfoundland. In Foremore, we’re continuing to review the exciting results of our first field season in 2020. In Newfoundland, we have embarked on an aggressive early-stage exploration program that is already generating targets for further exploration testing, and we are barely scratching the surface of this very large land package.
Sassy’s CEO continued, “On the corporate side, we are putting all the elements in place to ensure that the Gander Gold listing application process goes as smoothly and quickly as possible. Our new website received a positive response and is a valuable source of information for our current and future investors. While we were accomplishing all of this, we also focused on maintaining control over our ownership structure. Overall, we are delighted with the foundation we have built to create true, long-term value for our shareholders after just a year as a public company.
Subscribe to updates
Photos and videos from the company’s projects in northwest British Columbia and Newfoundland will be posted on the Sassy website in the coming days and weeks. Please visit our website SassyResources.com and subscribe to receive news alerts to keep you informed of the progress of the Company’s year-round exploration programs.
The technical information in this news release has been reviewed and approved by Mr. Ian Fraser, P.Geo., Vice President of Exploration for Sassy Resources. Mr. Fraser is the qualified person responsible for the scientific and technical information contained herein in accordance with the standards of National Instrument 43-101.
About Sassy Resources Corporation
Sassy Resources is an exploration-stage resource company currently engaged in the identification, acquisition and exploration of high grade precious and base metal projects in North America. His primary focus is on the Foremore Project, located in the Eskay Mining District (Liard Mining Division) in the heart of the high-yielding Golden Triangle region of northwest British Columbia and the Gold Belt in central Newfoundland and the Central Newfoundland Gold Belt, where Sassy is one of the is the county’s largest landowner.
Cautionary note regarding forward-looking statements:
Investors are cautioned that certain information contained in this document, other than statements of historical fact, constitutes forward-looking information regarding the anticipated performance of Sassy Resources Corporation. Such forward-looking statements are based on current expectations, estimates and projections that have been formulated using assumptions that are believed to be reasonable and involve a number of risks and uncertainties that could cause actual results to differ materially from expectations. These factors include, but are not limited to, fluctuations in the currency markets, the price of commodities in both the cash and futures markets, changes in legislation, taxation, control and regulation by national and local governments, and political and economic developments in Canada and elsewhere in which Sassy is or may be active in the future, the availability of future business opportunities and the ability to successfully integrate acquisitions, or operational difficulties related to the technical activities of mining and reclamation, the speculative nature of mineral exploration and development including the risks of obtaining necessary licenses and permits, reducing the amount or content of reserves, adverse changes in creditworthiness, and challenging property rights. The company undertakes no obligation to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events, or for any other reason, except as required by applicable securities laws. Some of the reported results are historical and may not have been verified by the company.
Chief Executive Officer & Director
Sassy Resources Corporate Communications / IR
Managing Director – Star Finance GmbH
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