Beatrix Acquires New Gold Property
04 3월 2011 - 9:00PM
Marketwired
Beatrix Ventures Inc. ("Beatrix") (TSX VENTURE: BXV) is pleased to
announce that it has acquired an option to earn a 100% right, title
and interest (the "Agreement") in the Lower Seal Harbour Property
located in Nova Scotia (the "Property"). The Property hosts a
number of gold veins that were formerly operated as the Lower Seal
Harbour Gold Mine. It produced 34,188 ounces (1,063,253 grams) of
gold from 1894-1949 and is ranked 12th among historical gold
producers in Nova Scotia.
The Property is 4 km southeast of the Goldboro property where
Osisko Mining Corporation and Orex Exploration Inc. have identified
significant indicated and inferred categories of gold resources in
the Upper Seal Harbour gold district. Orex reported a Measured and
Indicated Resource of 397,200 ounces contained in 2,711,000 tonnes
grading 4.56 grams per ton gold and an Inferred Resource of 405,900
ounces contained in 3,438,000 tonnes grading 3.67 grams per ton
gold (cut-off grade of 1.50 grams per ton gold) in a NI 43-101
compliant Technical Report published in September 15 2009.
The Property comprises three (3) exploration licenses for 55
claims covering 870 hectares of highly prospective Meguma
sedimentary rocks. Gold at Lower Seal Harbour is generally
associated with veins and leads associated with fold structures
within the Meguma sediments. Beatrix intends to conduct a
compilation of historical records to determine potential gold
resources and identify drilling targets.
In consideration of the issuance by Beatrix to the Optionors of
500,000 common shares and 500,000 warrants at a price of $0.10 for
a period of two (2) years of Beatrix within five (5) days of the
receipt of regulatory approval of the Agreement, the Optionors
hereby grant to Beatrix the sole and exclusive right and option,
subject to the terms of the Agreement, to acquire 100% of the
right, title and interest of the Optionors in the Property, subject
only to an aggregate 3% Net Smelter Return Royalty ("NSR"), by
incurring exploration expenditures of $25,000 the first year and
Royalty Payments of $5,000 per year after four (4) years from the
date of the Agreement. 2% of the NSR can be bought by Beatrix for
$2 million.
The Agreement is subject to the approval of all regulatory
bodies and the Board of Beatrix.
Mike Taylor, P.Geo., a director of Beatrix, is the qualified
person responsible for the technical information contained herein
as well as the design of technical programs for the Property.
About Beatrix Ventures Inc.:
Beatrix is a resource company based in Vancouver, BC and is
acquiring gold properties for exploration and potential development
in Canada. It owns 50% interest in the Opikeigen Gold Property in
Ontario along with joint venture partner SLAM Exploration Ltd.
("SLAM"). Opikeigen is located near Reserve Creek where SLAM has
reported gold intercepts up to 16.45 grams per ton over 16.85m.
(See SLAM News release dated August 17, 2010).
This release includes certain statements that may be deemed to
be "forward-looking statements" within the meaning of the U.S.
Private Securities Litigation Reform Act of 1995. All statements in
this release, other than statements of historical facts, that
address future production, reserve potential, exploration and
development activities and events or developments that the Company
expects, are forward-looking statements. Although management
believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are
not guarantees of future performance, and actual results or
developments may differ materially from those in the
forward-looking statements. Factors that could cause actual results
to differ materially from those in forward-looking statements
include market prices, exploration and development successes,
continued availability of capital and financing, and general
economic, market or business conditions. Please see our public
filings at www.sedar.com.
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.
Contacts: Beatrix Ventures Inc. Eugene Beukman President 604 687
2038 604 687 3141 (FAX) www.beatrixventures.com
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