RJK Explorations Drilling Update, Appoints Robert Mackay Executive Chairman, Issues Stock Options, Will Be Exhibiting at PDAC
Kirkland Lake, February 26, 2020 - RJK Explorations Ltd. (TSXV: RJX.A) (OTC: RJKAF) is pleased to announce several Company updates as it continues its Search for the Source of the 800 Carat Nipissing Diamond on its claims located just south of Cobalt, Ontario.
Exploration Update
The Company is continuing their winter drill program with 3 drill holes - the KON-20-04, 5 and 6 which are testing geophysical drone magnetic targets. Drill hole KON-20-04 has tested the KON 2 magnetic high target, intersecting Magnetite-rich gabbroic intrusive from 73 meters to 103 meters. KON-20-05 tested the KON 3 magnetic low target intersecting a silicified mafic volcanic sequence containing mafic, pyritized porphyry bodies from 11 meters to 208 meters. The magnetic low feature is interpreted to be a window of steeply dipping Archean volcano-stratigraphy emergent in the Huronian Cobalt embayment. Selective sampling intervals from both holes totalling 83 meters have been submitted for gold fire assay and ICP multi-element analysis. Drill hole KON-20-06 was positioned 91 meters northeast of KON-20-02 on the west boundary of the KON 1 magnetic low target. This hole intersected heterolithic kimberlite diatreme breccias from ~10 meters to 80 meters, then transected 14 meters of hypabyssal kimberlite flows to 94 meters encountering syenite.
Corporate Update
Robert Mackay has been appointed Executive Chairman of the Board of RJK Explorations Ltd. Mr. Mackay's remuneration will be based on the annual increase in the market capitalization of the Company. The Board of Directors of RJK will determine the remuneration for Mr. Mackay at each year end based on industry standards of performance. In addition, 150,000 stock options of the Company at a price of $0.235 have been granted to consultants for the Company.
PDAC 2020
RJK would like to invite our investors, exploration enthusiasts and everyone interested in our "Search for the Source of the 800 Carat Nipissing Diamond" to visit Booth 3328 from March 1st to March 4th in the Investors Exchange at PDAC 2020 (in the Metro Toronto Convention Centre). Meet the RJK management team and see some of our new kimberlite discovery drill core from the Historic Cobalt Mining Camp.
Mr. Peter Hubacheck, P.Geo., Project Manager for RJK and the Qualified Person as defined by National Instrument 43-101 has approved the technical disclosure in this release.
Contact Information
Glenn Kasner, President
Mobile: (705) 568-7567
info@rjkexplorations.com
Web Site: https://www.rjkexplorations.com/
Company Information: Tel: (705) 568-7445
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.
“Searching for the Source of the 800 Carat Nipissing Diamond”
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/52832
