RJK Acquires the Bishop Nipissing Diamond Properties South of Cobalt, Ontario
"Searching for the Source of the 800 Carat Nipissing Yellow Diamond"
Kirkland Lake, February 5, 2019 - RJK Explorations Ltd. (TSXV: RJX.A) ("RJK" or the "Company") announces that the Company has entered into a property option agreement with Anthony "Tony" Bishop for the Bishop Nipissing Diamond Properties, exploration properties totalling 2,090 hectares encompassing at least 18 potential kimberlite pipes located approximately 10 km south of Cobalt, Ontario.
Tony Bishop, Prospector, has spent over 4 years looking for the source of the Nipissing Yellow Diamond that was found sometime during the development of the silver mines at Cobalt, Ontario in the 1903 to 1905 time period. After closely following Bishop's work for the last year and reviewing all of the data that Bishop has compiled, including a NI-43-101 technical report, RJK has decided to option the property and will initially drill the mostly likely potential kimberlite pipes that Bishop believes the Nipissing Yellow Diamond may have come from.
The Bishop claims are situated in a well-established kimberlite field within the Lake Temiskaming Structural Zone. All are on Crown Land, are mostly on high, dry, well-drained topography. Drivable logging roads are within one kilometre or less, affording easy access. Close by are 3 hydro-electric facilities, a large electric wind farm and a gas pipeline. The Trans-Canada Hwy is also very close, as is the train station in Cobalt, an area with a well-established historical mining history.
The terms of the option are a cash payment of $50,000 on signing and issuance of 1,000,000 shares upon regulatory approval and spread over a 4-year period are further cash payments totalling $50,000, 1,500,000 shares and a work commitment of $1,000,000 to earn 100% of the properties. There will be a 10% GORR for diamonds and a 1.5% N.S.R. for other minerals.
William MacRae M.Sc. PGeo, a qualified person as defined by National Instrument 43-101, is the qualified person responsible for reviewing and approving the technical contents of this press release.
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.
Forward Looking Information
This news release includes certain forward-looking statements, which may include, but are not limited to, statements concerning future mineral exploration and property option payments. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions "will", "anticipate", "believe", "plan", "estimate", "expect", "intend", "propose" and similar expressions. Forward-looking statements involve known and unknown risks and uncertainties that could cause actual results, performance, or achievements to differ materially from those expressed or implied in this news release. Factors that could cause actual results to differ materially from those anticipated in this news release include, but are not limited to, the financial resources of the Corporation being inadequate to carry out its stated plans. RJK assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those reflected in the forward-looking statements except as required by applicable law.
Contact Information
Glenn Kasner, President
Telephone: (705) 568-7956
Mobile: (705) 568-7567
info@rjkexplorations.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/42664
