Newton Gold Corp. Extends Exclusivity on Sibley Property
14.05.2013 | FSCwire
Vancouver, British Columbia CANADA, May 14, 2013 /FSC/ - Newton Gold Corp. (NWG - TSX Venture) ("Newton Gold" or the "Company") is pleased to announce that it has been granted an extension on the exclusivity on the Sibley Road Property until October 15th, 2013."This is very positive for Newton as the company is still very committed to the exploration of the property and development of the extraction technology to produce a number of high end aluminum and silicon metals. This extension allows us to continue advancing with a number of opportunities that we are pursuing," stated Mark McLeary, President of Newton Gold.
The Sibley Road property, host to a kaolin clay and silica sand deposit with potential economic products including alumina, titanium, and white silica sand. The property covers 648 hectares and is immediately north of, and contiguous with, the Chaswood property that was acquired by Orbite Aluminae Inc. (TSX-ORT).
Highlights of the Sibley Road property are:
- an advanced stage property with over $12 million in previous exploration with over 400 drill holes and 14 line kilometers of high resolution reflection seismic data
- a deposit model with greater than 160 million tonnes (non 43-101 historic resource) created using only 40 % of drill data and without incorporating the seismic data.
- a majority of drill holes require analyses for alumina, silica and titanium
- an environmental scoping study is in place
- excellent access and close to existing natural gas pipeline
- neighbour is a recognized industry leader in alumina exploration and extraction
About Newton Gold Corp
Newton Gold Corp. is an exploration company with advanced exploration projects and a royalty interest in a further project. The Company has an experienced management team with a growth strategy to develop a diversified portfolio of exploration projects that can be taken into production. The Company's main objective is to add shareholder value through cost efficient exploration, strategic acquisitions, joint ventures, and effective marketing while maintaining a lower risk profile through project diversification and sound financial management.
ON BEHALF OF THE BOARD OF DIRECTORS
"Mark A. McLeary"
President
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.
Forward Looking Statements: The above contains forward looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry. Forward-looking statements in this release include statements regarding future exploration programs, operation plans, geological interpretations, mineral tenure issues and mineral recovery processes. Although we believe the expectations reflected in our forward looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements.