GTA Initiates Drill Program to Test Auden Graphite Targets
17 Dezember 2013 - 2:00PM
Marketwired
GTA Initiates Drill Program to Test Auden Graphite Targets
BURLINGTON, ONTARIO--(Marketwired - Dec 17, 2013) - GTA
Resources and Mining Inc. (TSX-VENTURE:GTA) announces the
commencement of a diamond drill program at its Auden Property,
located adjacent to Zenyatta Ventures Ltd.'s Albany Graphite
Project in Northern Ontario.
The drill program will initially target electromagnetic
anomalies (conductive zones) located in the central part of the
property and having geophysical characteristics similar to the
geophysical signature associated with Zenyatta's high purity
graphite zones. These graphite deposits were discovered while
testing electromagnetic (EM) targets and have been described as
occurring in breccia pipes (diatremes) with dimensions in the order
of 200 m by 400 m. GTA's management and geological consultants
believe that the graphite breccia pipes that exist on Zenyatta's
Albany Project are similar to kimberlite pipes (diatremes) and are
likely to occur in clusters along structural corridors that may
extend onto GTA's Auden Property.
GTA has identified a number of electromagnetic anomalies
(conductive zones), on the Auden Property, from an in-house
airborne geophysical survey which was recently extended to cover
the entire property. Ground geophysics, consisting of EM and
Magnetics surveying, is ongoing in order to get a more detailed
definition of the higher priority airborne targets. Both the
drilling and ground follow-up programs will continue into the new
year.
Most targets are accessible via existing logging roads and bush
trails originating from Hwy 11 located 15 km to the south. An
Ontario exploration permit is in place and a recently signed
exploration agreement with Constance Lake First Nation allow for a
co-operative continuous field program to evaluate the graphite
potential on the Auden Property.
GTA is the single largest land holder in the area, holding 100%
title to more than 69,000 contiguous acres.
Robert Duess, P. Geo, VP Exploration for GTA and a qualified
person as defined in National Instrument 43-101, is responsible for
this release, and supervised the preparation of the information
forming the basis for this release.
About GTA
GTA is a well funded publicly traded mineral exploration
company. It is led by an experienced and successful management team
and is focused on gold exploration in Canada. GTA currently has
three exploration focused projects in its portfolio. Its flagship
project, the Northshore Property, located near Schreiber, Ontario,
is subject to an option agreement with Balmoral Resources Ltd.
(TSX-VENTURE:BAR) whereby GTA can earn up to a 70% interest.
Secondly, GTA recently completed trenching and a 400 metre drill
program under an option agreement with Metals Creek Resources Corp.
("MEK") to earn up to a 70% interest in the Squid East Property in
the White Gold District, Yukon. The third project, the 100% owned
Auden Property, is located near Hearst, Ontario and consists of
1748 claim units covering virtually an entire greenstone belt and
hosting a number of graphite, gold, base metal and PGE targets.
GTA has 26,731,855 shares outstanding of which insiders control
approximately 30% of the outstanding shares. The Company's shares
trade on the TSX Venture Exchange under the symbol "GTA".
On behalf of the board of directors
GTA Resources and Mining Inc.
Wayne Reid, President and CEO
For more information, please visit the corporate website at
gtaresources.com.
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 press release.
This press release contains forward-looking statements and
forward-looking information (collectively, "forward looking
statements") within the meaning of applicable Canadian and United
States securities laws. All statements, other than statements of
historical fact, included herein, including statements regarding
the anticipated content, commencement, duration and cost of
exploration programs, anticipated exploration program results, the
discovery and delineation of mineral deposits/resources/reserves,
the timing of the receipt of assay results, and business and
financing plans and trends, are forward-looking statements.
Forward-looking statements are typically identified by words
such as: believe, expect, anticipate, intend, estimate, postulate
and similar expressions or are those which, by their nature, refer
to future events. Although the Company believes that such
statements are reasonable, there can be no assurance that
such statements will prove to be accurate, and actual results and
future events could differ materially from those anticipated in
such statements. The Company cautions investors that any
forward-looking statements by the Company are not guarantees of
future performance, and that actual results may differ materially
from those in forward-looking statements. Important
factors that could cause actual events and results to differ
materially from the Company's expectations include those related to
weather, equipment and staff availability; performance of third
parties; risks related to the exploration stage of the Company's
projects; market fluctuations in prices for securities of
exploration stage companies and in commodity prices; and
uncertainties about the availability of additional financing; risks
related to the Company's ability to identify one or more
economic deposits on the properties, and variations in the nature,
quality and quantity of any mineral deposits that may be located on
the properties; risks related to the Company's ability to obtain
any necessary permits, consents or authorizations required for its
activities on the properties; and risks related to the Company's
ability to produce minerals from the properties successfully or
profitably. Trading in the securities of the Company
should be considered highly speculative. All of the
Company's public disclosure filings may be accessed via
www.sedar.com and readers are urged to review these
materials, including the latest technical reports filed with
respect to the Company's mineral properties.
This press release is not, and is not to be construed in any
way as, an offer to buy or sell securities in the United
States.
GTA Resources and Mining Inc.Wayne ReidPresident and CEO709 699
1733www.gtaresources.com
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