Exploration Update / RJK Explorations Private Placement
Kirkland Lake, June 5, 2020 - RJK Explorations Ltd. (TSXV: RJX.A) (OTC: RJKAF) Is pleased to announce that it will resume its drill program for kimberlites on their Cobalt project with in the next two weeks. During the Covid19 shutdown geophysical contractors completed a survey that identified several well defined IP anomalies. These anomalies are proximal to the Nipissing Diabase / Granite contact as well as the kimberlite breccia sill drilled in 2019 that contained the 18 diamonds reported in the RJK April 1, 2020 News Release. These targets, along with other magnetic features up-ice of kimberlite float boulders south of Grassy Lake, will be the initial targets for the summer drill program. The processing of the 273 kg sample sent to CFM labs in Kelowna is ongoing and results are expected before the end of the month. More drilling is anticipated on the Kon claims later this summer.
In addition, RJK is completing a non-brokered flow-through private placement of up to $300,000 at a price of $0.20 per share. Proceeds of the offering will be used for mineral exploration on its Cobalt, Ontario area properties. The securities issued will be subject to a four-month statutory TSX-V hold period. Finders fees of 8% may be paid in connection to this private placement.
RJK is looking forward to resuming its drilling for kimberlites and initiating a summer alluvium and till sampling program on selective geological and geophysical target areas across its extensive land holdings.
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.
