Rosita Mining Increases Land Position at Moosehead Project; Rosita Establishes Moosehead Gold Inc. as 100% Subsidiary
August 22, 2018 - Rosita Mining Corp. (RST: TSX-V) (Frankfurt & Munich - 5LM1) ("Rosita" or the "Company") is pleased to announce that it has increased its land holding in Newfoundland by adding to the previously announced Marilyn Three Property (announced August 14, 2018). The additional land package was staked to cover prospective geology along the contact of the Botwood Group and the Mount Peyton Intrusive. Also, the additional claims cover parallel epithermal textured boulder trains and the possible strike extension of the in situ epithermal system.As previously announced: The Marilyn Three Property is located within a northeast-trending belt of Silurian volcanic, volcaniclastic and sedimentary rocks, adjacent to a large bimodal intrusive. This intrusive (The Mount Peyton complex) is thought to be responsible for the large regional fault structure located within the larger area and within the property. The project now consists of 161 claim blocks representing exclusive exploration rights to a land package of approximately 9,945 acres (4,025 hectares) and lies within the same belt of rock and on trend with the mineral license hosting Sokoman Iron Corp.'s recently announced discovery hole (Sokoman Iron Corp. (SIC-TSXV) news release dated July 24, on its Moosehead gold project, where Sokoman Iron reported a drill intersection of 44.96 grams per tonne gold over 11.9 metres). Additionally, within the property, recent work has identified quartz sub-crop blocks (enriched in silver, arsenic and antimony) with assays up to 4.8g/t Au. These blocks are located approximately 150m west of a recently identified 10-15m wide epithermal vein system in outcrop. Appearances and textures indicate the vein outcrop is a fully preserved epithermal quartz veined system with potential significant grades just below the surface within the boiling zone.
Rosita is responsible to the Vendors for the additional staking costs for the additional 57 claim blocks.
In addition, Rosita announces that it has established a wholly-owned subsidiary named Moosehead Gold Inc. to hold its property in this emerging gold exploration play.
The technical contents of this news release were approved by John F. Cook, MIMMM, a qualified person as defined by the National Instrument 43-101. The properties have not been the subject of an NI 43-101 technical report.
Please see map below.
Click Image To View Full Size
About Rosita Mining Corporation
Rosita is a junior mining and exploration company focused on growing shareholder value through the development of the Santa Rita stockpiles and tailings and advancing accretive exploration opportunities. Rosita and Calibre Mining Corp. hold 67% and 33% interests respectively in the copper-gold-silver supergene/skarn/porphyry project in Nicaragua located 275 kilometres northeast of Managua.
Sugject to regualary approval, the Company has acquired a 100% interest in the Marilyn Three Projcet in Newfoundland, comprised of 161 claim blocks.
Signed
"John Cook"
Contact:
John Cook, CEO
Rosita Mining Corp.
Telephone: (416) 200-8073
E-mail: johncook@kos.net
For more information please visit www.rositaminingcorp.com
Neither the TSX Venture Exchange nor it 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.
Cautionary Statements: Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the re-instatement of trading and the identification, negotiation and completion of a transaction sufficient to meet listing requirements of the TSX Venture Exchange. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Company. Risk factors that could cause actual results or outcomes to differ materially from the results expressed or implied by forward-looking information include, among other things: conditions imposed by the NEX and/or TSX Venture Exchange; changes in tax laws, general economic and business conditions; and changes in the regulatory regulation. The Company cautions the reader that the above list of risk factors is not exhaustive. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
Copyright (c) 2018 TheNewswire - All rights reserved.
