=======================================================================
Jet Gold Acquires Gold Property in Well Known Gold District
=======================================================================
Robert L. Card, President of Jet Gold Corp., (the "Company") (TSXV:
JAU) is pleased to report that the Company has entered into an option
agreement to acquire the Virginia gold property (the "Property")
located in the Sheep Tanks Mining District in La Paz County, Arizona
(the "Acquisition") a well known gold producing area.
The property is located about two miles northwest of the former
producing Verdstone gold mine which was mining grades of 0.5oz/T gold
and 5oz/T silver when it was in production.
The Virginia gold property is an epithermal type of deposit typical of
the Verdstone and former producing Sheep Tanks mines in the District.
The Virginia has a well developed epithermal alteration system around
it. The previous owner reported gold and silver values in the vein at
surface, as well as a 0.6 opt sample in a shaft. These reports are
anecdotal and therefore not to be relied upon. The possibility of
finding and proving a mineable oreshoot close to the surface as well as
at depth makes this property an attractive geological exploration
target.
The property has excellent infrastructure in place, located about 100
miles west of Phoenix and 14 miles south of Highway I-10, and serviced
by all-weather roads from the nearby towns of Quartzite and Salome, AZ.
The terms of the acquisition include a payment of US$5,000 upon
signing, additional annual payments of US$5,000 for the next three
years, or after the expenditure on the property of US$100,000 per year,
for an aggregate of US$300,000. In addition, the Company will issue
100,000 common shares after the expenditure of each US$100,000 in the
above three years. A 2% NSR is payable on production which the Company
may acquire by the payment of one million US dollars.
A work program of trenching, sampling and geological reconnaissance
along with an IP survey to develop drill targets is planned for
November/December 2009.
The Company is reviewing several gold properties with plans to expand
and develop gold assets in North America. The Kshish molybdenum
property is very promising and the Company plans to continue its work
program scheduled for October. Part of the program is to complete
testing of the property samples for precious, rare earth and exotic
minerals.
This news release has been reviewed and approved by Alex Burton,
P.Eng., P.Geo., a qualified person as defined in National Instrument
43-101.
On behalf of the Board of Directors
Jet Gold Corp
"Robert L. Card"
Robert L. Card
President
Investor Contact:
Robert L. Card, President
604-687-7828
Jetgoldcorp@shaw.ca
www.jetgoldcorp.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release
=======================================================================
Copyright (c) 2009 JET GOLD CORP. (JAU) All rights reserved. For more
information visit our website at http://www.jetgoldcorp.com/ or send
mailto:info@jetgoldcorp.com
=======================================================================
.
<
|
Jet Gold Corp
|
|
EXPLORATION STAGE |
CODE : JAU.V |
ISIN : CA47712W3075 |
|
| |
ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
JetGold is a gold exploration company based in Canada. JetGold holds various exploration projects in Canada. Its main exploration properties are VIRGINIA in USA and KSHISH in Canada. JetGold is listed in Canada. Its market capitalisation is CA$ 1.6 millions as of today (US$ 1.2 millions, € 1.1 millions). Its stock quote reached its highest recent level on May 25, 2007 at CA$ 97.55, and its lowest recent point on September 04, 2015 at CA$ 0.03. JetGold has 13 069 728 shares outstanding. |