Loyalist Exploration Limited Announces Acquisition of Loveland Nickel/Copper/Gold Property in Ontario
Toronto, Ontario – Loyalist Exploration Limited (CSE: PNGC) (“Loyalist” or the “Company”) is thrilled to share exciting news with investors and mineral enthusiasts alike. The Company has recently entered into a binding letter of intent with STLLR Gold Inc. (“STLLR”) to acquire a 100% interest in the Loveland Nickel/Copper/Gold property, located approximately 45 kilometres (“km”) northwest of Timmins, Ontario.
Historical Mineral Resources
The Loveland Property boasts a rich history, with the Hollinger and Cominco zones being its most notable features. These zones have historical mineral resources of nickel and copper, as outlined below:
- Hollinger Zone:
- Historical Indicated Resource: 27.2 million tonnes (“Mt”) grading 0.19% nickel (“Ni”) and 0.12% copper (“Cu”)
- Historical Inferred Resource: 11.5 Mt grading 0.12% Ni and 0.08% Cu
- Cominco Zone:
- Historical Indicated Resource: 3.6 Mt grading 0.17% Ni and 0.15% Cu
- Historical Inferred Resource: 1.3 Mt grading 0.16% Ni and 0.13% Cu
Exploration Potential
Both the Hollinger and Cominco zones are open along strike and at depth, making them an attractive exploration target. They form a 10 km prospective exploration corridor within the Property. Additionally, the Property includes significant historical surface and underground assays of gold, with select assays reaching up to 13.8 g/t gold (“Au”).
Impact on the Local Community and the World
The acquisition of the Loveland Nickel/Copper/Gold Property by Loyalist Exploration Limited may bring substantial benefits to the local community and the mining industry as a whole. Here’s how:
Local Community
The acquisition could create new employment opportunities for residents and stimulate economic growth in the surrounding area. The mining process and subsequent development may also lead to infrastructure improvements, such as roads and utilities.
Mining Industry
The Loveland Property could contribute significantly to the mining industry in Ontario and Canada. The historical mineral resources of nickel, copper, and gold make it an attractive target for exploration and development. If the resources can be confirmed and mined, this could lead to increased production of these valuable metals, reducing reliance on imports and supporting the domestic economy.
Conclusion
Loyalist Exploration Limited’s acquisition of the Loveland Nickel/Copper/Gold Property is an exciting development in the mining industry. The historical mineral resources of nickel, copper, and gold, along with the potential for expansion, make this an attractive exploration target. The potential positive impact on the local community and the mining industry as a whole is significant. Stay tuned for updates as Loyalist continues to explore and develop the Loveland Property.
For more information about Loyalist Exploration Limited, please visit the Company’s website at loyalistexploration.com.
